Category Archives: Risk Management

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UNIT 10

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Gilbert Ramos

Bus 311-1900

Unit 10

As organizations face increased risks in 2020, it is imperative that the human resource department and risk management work together to help implement and ensure the safety of their employees and organization. Certain risks such as cyber-crime awareness/management and disruption to supple chain are not just new risk companies are facing but are risk that will continue to happen.

Organizations big or small, face the risk of their data breached, resulting in negative impact. Especially due to COVID 19, many people are working home and some employees may not have the necessary security on their devices at home. These cyberattacks include malware, identity theft, phishing, man-in-the-middle attacks and much more. It is important to focus on these attacks because it can result in loss of income (if your organization was hit with an denial of service attack, when your network is flooded with so many request it can damage your database), damage to data (depending on the damage, can cost you a lot), ransomware (an attacker demands a ransom in order to restore access to the data), and reputation (customers or other businesses may not want to work with you because they may think you are careless and having any type of association with you can damage their reputation as well). As stated in 13.2 Health Hazards at Work, “It is important that HR professionals work to achieve maximum security and privacy for employees” because the release of private information can be costly. This cost of Texas $1.8 million when 3.5 million state workers names, social security numbers and addresses were disclosed in public. Organizations can prevent these types of risks by using a firewall for your internet connection, making backup copies of important files, having a secure WI-FI network(s) and limit employee access to sensitive data.

Another risk to keep in due to COVID-19 is supply chain disruption. According to institueforsupplymanagement.org, about “75% of companies have experienced supply chain disruptions due to COVID-19 pandemic and the restrictions”. Many companies have uncertainty about the supply of goods because most supply of goods are from china. This can lead to financial problems such as loss of revenue. To protect your supply chain for companies that have business relationships in places like china and other countries battling this pandemic, they should consider promoting flexible working arrangements, reinforce screening protocols and focus on cash flow.

Yes, working home remotely increases cyber security risks. But I know with some of the knowledge I know regarding these attacks and how to limit myself from being exposed to these threats. Such as making sure software and security updates are up to check, the use of cloud services, making sure your company provides you with VPN access and have a long password that consist of lower case, upper case and symbols.

 

Sources:  https://www.oercommons.org/courses/human-resource-management-3/view#

                 https://www.ifac.org/knowledge-gateway/preparing-future-ready-                    professionals/discussion/cybersecurity-critical-all-organizations-large-and-small

https://www2.deloitte.com/global/en/pages/risk/articles/covid-19-managing-supply-chain-risk-and-disruption.html

   

Risk Management

2 Replies

May Cortez-Beatty

Professor Brielle Buckler

Bus 311-1900

November 18, 2020

Unit 10 Assignment: Risk Management

One of the key risks experienced by companies in 2020 is the increased risk of cyber-attacks. Although cyber security has been a concern for many organizations over the years, during the Corona virus crisis, the risks of experiencing a cyber-attack significantly increased for many companies. After the outbreak of Covid-19 pandemic, a quarantine was announced forcing people to remain at their homes. As a result, many companies and organizations moved their employees to home offices and expected them to work from home. As a new way of working and delivering value to their organizations, employees working remotely from home for the first time are unaware that they are operating from insecure networks and devices that are easy targets for hackers. Thus, company have been experiencing and witnessing an increased number of cyber-attacks during the pandemic than ever before. When this happens, companies are not only concerned about the safety of their employee personal data but also information security of the company. In fact, cyber criminals have been trying to exploit the heightened levels of concern due to Covid-19 by promoting misinformation and using personal data to exploit innocent people. As such, this cyber security concern poses the risks for organizations, employees, and customer as their data can easily be put at risk.

Since many organizations had to transition to remote without any prior training on cyber security, the risks of successful attacks and losses became high especially due to the current increase in cybercriminal activities. Therefore, it is vital for companies to focus on these new risks of cyber-attacks in order to secure their information, employees, and customers’personal data. Some companies and organizations value discretion and strive to protect client and customer information from outsiders such as cybercriminals that may exploit such information for financial gain. In fact, the World Health Organization recently reported a five times increase in cyber-attacks against organizations during the pandemic compared to previous years.

In order to enhance cyber security and curb the risks of cyber-attacks, organizations ought to take various precautions. For instance, organizations should secure work from home arrangements at scale. The widespread adoption of work-from-home equipment has put significant pressure on cyber security teams in organizations to protect these tools without making it difficult for employees to work. Therefore, organizations should making changes in different areas such as people, technology, and processes to ensure better cyber security. Moreover, organizations must increase awareness of cyber security among their teams such as phishing scams and social engineering. Although many employees have been taking these cyber security concerns less serious prior to working remotely and before the pandemic, however, it is now imperative that everyone remain vigilant and informed. Furthermore, organizations must use the right technological measures to ensure higher levels of both productivity and cyber security when working from home. Expediting patching for high priority systems is crucial for employees working from home and this will help companies minimize vulnerabilities once they are detected. Examples of such critical systems include cloud interfaces and end-point protection.

The elevated risks of cyber-attacks make work uncomfortable and reduce the willingness and interest to work at an organization. Employees are afraid of being exploited by cyber criminals and their personal data could be exploited as well. Thus, in the face of this new challenge of cyber-attacks, working for organizations that are more vulnerable is becoming difficult.

Safety, Health and Risk Management

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Dimitri Jones                                                                                 November 13, 2020

Bus311-1900                                                                               Professor Brielle Buckler

Safety, Health and Risk Management

 

As we covered Safety, Health and Risk Management in this week’s lecture two new risks came to my mind. The evolution of internet and the outbreak of Covid-19 have presented us with new challenges that companies must face. The internet is a great feature that is presented to us however they also present a safety risk to companies and businesses. Covid-19 has also changed the lives of many companies as it poses a threat to safety and health as they continue to operate daily.

With the internet, it has provided us with many benefits as it evolved throughout the years however it also presents a threat to many companies. On the internet, many companies have websites created to conduct business or sell merchandise.  That presents great flexibility, but we also have hackers that can possibly get past the security systems in order to steal confidential information. Also, in 2017 we had a civilian learn how to make a homemade pipe bomb at home resulting in him detonating the bomb in the NYC Subway injuring other individuals. There is no direct way that can stop someone from accessing these things on the internet however companies can provide additional information protect the client.

In 2020, Covid-19 has placed the world in a pandemic which effect everyone mentally and physically. Companies now have to find a way to keep their business functioning while presenting safe work conditions to employees to ensure safety. New policies now have plexiglass at the register, requirements to wear a mask before entering and remaining at least 5 feet away from the next individual. Being an essential worker during Covid-19 has not been easy to some workers presenting them with several obstacles.

With these threats and being an essential worker, I don’t think it is completely safe, but I am happy some precautionary measures are taken for us as employees. In our lesson this week they also discussed the hazard of being stressed and burnout. Covid-19 has also presented essential workers with long hours at work. It is important to stay for health and limit the hours you work to avoid this. Medical professionals, law enforcement and transportation workers had the responsibility of working 12-16 hours to help society.  This can make you lose the interest to work with an infectious disease present and a long workday. It is extremely important that as a company or business you make your employees and customers feel safe on a daily basis. Policies and guidelines have to be updated consistently when it comes to security or safety.

Risk Management

5 Replies
Natalie Khan
BUS 311
Risk Management  
2020 has been a year that will go down in history as the monkey wrench year. Never in my wildest imagination did I ever believe we would be dealing with a pandemic crisis.  Covid-19 has reshaped the way the world conducts everything, from family gatherings, business, education. We were not prepared for it. I had to relearn a new routine that incorporated this abrupt new lifestyle. Likewise, businesses and organizations had to devise a new risk management approach that addresses new Covid-19 safety and practices. During my time in Starbucks (2003-2018), there was not any mention of pandemic preparedness in the risk management segment of the employee handbook. There was no mention of social media guidelines, MySpace launched that year and Facebook, February 2004. This year Starbucks had all partners comply with an updated form to the then social media guideline that gives Starbucks the permission to filter through your social media more closely in the event a suspicion arises of any messages that are not aligned with the mission statement. This is due to address the recent surge of hateful messages from partners about the recent civil unrest and protests going on around the country. If found in violation of the policy, the partner may be subject to termination. A recent positive change in the risk management sector is the acknowledgment of holding mental health to the same standard as physical health. Taking a day to decompress your mind when you are not in the right mental head space is just as important as taking that same sick day to recover from a cold. Thanks to Covid-19, mental illness has been on the heavy rise and it is imperative to seek help, take breaks and when you are feeling overwhelmed. Companies should invest in programs to address the rise of these concerns. Maybe factoring in an additional  10 minute mental break like to the teacher whose class was a little rowdier than usual, or the factory worker who has been on their feet all day or the barista that just had
an unpleasant rude customer yell at them in front of everyone. In addition to personal, sick and vacation time, more companies should also invest in Mental Health time, which would be available to use when the person needed it most, free to use to attend a therapy session of their choice or just a day to unwind from the stresses that come with life. Companies that can afford to, should follow in reputable companies such as Google and Zappos that have paved the way on how they strive to elevate employee morale. Companies that do not have the financial means should offer other cost-effective alternatives like an additional break or extra day off if possible. Lyra is also a good network of mental health providers that is being offered by more companies as well as apps like Headspace that is designed with guided meditations aimed to help with anxiety, stress, sleep and more. If more companies put mental health on the forefront of their employee’s success the outcome of productivity will greatly increase. In my own experience when I was not feeling well both mentally and physically it sometimes did hinder my performance but when I felt my best, I did my best.  

Risk Management

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