TopicThe concept of risk mitigation is essential when implementing security policies.

Topic

The concept of risk mitigation is essential when implementing security policies.Explain what your understanding of this process involves.

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Instructions

1) APA format

2) References

3) Body Citations

4) No Plagiarism

5) 350 words

6) 2 responses (each 150 words)

Response#1(Venkatesh)

Business organizations face continuity risks as a result of cyberattacks, adverse weather conditions, and other causes which results in damage to organizations’ data. To ensure business continuity risk mitigation is employed. Risk mitigation is an element of risk management. It refers to coming up with ways in preparation for and lessening the threats encountered by a data center . This process involves steps to be undertaken by the business to ensure its continuity after an attack on the data. The risk mitigation plan focuses on individual risk and its impact on the business. Prioritization is one aspect of risk mitigation where a business organization acknowledges a certain measure of risk in one part in order to fully defend another. The acceptance of a certain level of risk in diverse areas in an organization is essential for the proper preparation of resources to ensure business process continuity in case of a disaster.

Risk mitigation strategy not only encompasses business data and priorities, but it also covers risks based on physical location and employees. In order to create an effective risk mitigation strategy, a risk manager must identify frequent risks, must prioritize risk mitigation, and monitor the laid down plan. There are five steps to be followed when developing this strategy: (1) Identify the risks by highlighting the possible activities and events that might trigger risks. (2) Undertake risk assessment by assigning numerical risk to each event then compute their weights, possible impact, and the probability of that it will occur. (3) Prioritizing the risk; based on risk assessment taken to rank the possible risks and prioritize the departments with a low level of acceptable risk. (4) Follow up on the risks by keeping track of the threat it can pose. For instance, keeping track of weather patterns. (5) Implement and monitor the progress of the strategy by observing its performance; testing to ensure it’s up to date and checking the risk priority

For successful risk mitigation, regular tests should be undertaken to ensure that the plan reflects the current state of events. The risks posed to data centers are dynamic and they keep changing hence risk mitigation needs to reflect any risk movement and change in priorities

Response#2(Shiva Kumar)

Government always focuses on customer protection and it is the main driver of the business organizations. Every government policy for the security of the customers’ data is relevant to the protection of data. However, sometimes some hackers hack the government websites for data breaching. The government always demands the protected policies and as the customers are the main component of government business, so it influences the government regulations for the betterment of customer satisfaction. Most of the government businesses created for public distribution and public welfare. The economy is also stable if the customers get the appropriate result from the government, therefore in this way, a government business can develop to the international sector and create its identity among the customers. Business is the main element of economic development and with the help of this; the government can stable its country and protect the organizations from foreign invasions. E-commerce is the perfect example of business innovation and it is known as the next level of business. Therefore, it is necessary to implement security policies and mitigate the threats, which can create a negative impression among the public. Many individuals neglect the tax payment and it increases the cost of the products, which causes inflation. Online business platforms and websites are other areas for collecting taxes from the public and it enhances the level of the economic structure of a country. Therefore, it may be said that these three components enable the business growth and improving the economic status by influencing the security policies implemented for the protection of the customers’ data and fulfillment of their interest.

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