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The research paper is about the
importance of outsourcing incident response plan for small sized company
I.Introduction
a. Background:
According to a report byShred-it , the information security service provided by
Stericycle, 67% of small businesses in the US do not have an incident response
plan.
b. Problem
statement
c. Main idea: having
IR plan is important and if the small company doesn't know how to do it
they should outsourcing it
II.What cause 67% small company do not have IR
plan?
a. find out the
reason
III.Importance of outsourcing IR
plan
a. How it can help the
small company for long term benefit (company management, reputation,
customers satisfaction, Cost-effectiveness....)
b. Why should small
company pay attention on it
IV.Case study (using Cynet 360 AutoXDR service as
example)
a. A real-life
example of what a company has achieved with outsourcing services :
before, their problem and Loss of specific numbers/ graph, after (increase
income or ...)
V.Recommendation
a. What should company aware of
some disadvantage with outsourcing
service
b. Small company
should not always depend on outsourcing service and without building their own
IR team
VI.Conclusion
a. Summarize
b. Restate the thesis
The
Importance of Outsourcing Incident Response Plan for Small Sized Company
student’s
Name
Institutional
Affiliation
Professor’s
Name
Course
Name/number
Due
Date
The
Importance of Outsourcing Incident Response Plan for Small Sized Company
Introduction
Cybersecurity
is a prime factor determining the success of a business in a digital world. As Zhang
(2018) commented, replacement of manual work with automated systems and report
working has significantly increased the threat to companies' data. Hackers can
easily access data companies' stored data or in transit. There are many ways of
ensuring cyber security, and implementing an incidence response plan is one of
the most effective. Beck (2019) asserts that an incident response plan is a
practical data security approach since it allows the security team to identify,
eliminate and recover cybersecurity threats. Companies across the globe have
embraced IR to sure their data, but small businesses lag in this initiative.
According to a report by Shred-it, the information security service provided by
Stericycle, 67% of small businesses in the US do not have an incident response
plan. Lack of capacity to cater to costs and expertise needed is the prime
limiting factor for small businesses interested in implementing incident
response plans. An IR plan is essential; if a small company doesn't know how to
do it, it should outsource it.
What
Cause 67% of Small Companies not to Have Incidence Plan
Due
to their Size and Availability of Resources
A
small business typically generates small profits from its business transaction.
On the flip, developing and implementing an incidence development plan requires
enormous sums of initial and operating capital, which is challenging for small
businesses to raise. Besides, these businesses lack vital resources needed in
adopting and running Incidence response plans like Human resource expertise. The
initiative requires personnel with a high level of information, but it is
challenging for small businesses to pay such specialists (Villegas-Ch et al.,
2021). As a result, small firms lack the team understanding the incidence
response plan. Less qualified staff hired in small companies struggle to
comprehend the full scale of the issue, make initial diagnoses and assess
priorities.
They
do not prioritize cybersecurity awareness.
In
small businesses, cybersecurity awareness does not occupy a significant
position in their planning. Although small organizations earn little profits
from their business due to their size and the quantify of investment made, they
rarely allocate substantial funds to embracing cybersecurity. Research shows
that small business is reluctant to invest in cyber security. According to Karpiuk
(2021), on average small firms allocate about 10% of the annual information technology
budget on cyber security and spend at most $2,700 per full-time staff annual.
The small allocation indicates that cybersecurity is not the priority of small
firms. Hence, adopting an incidence response plan is challenging since it
requires more than the organizations can pay. The companies' information
technology and response team spend most of their time and resources on
low-priority alerts that do not involve a significant threat to the business
entity.
They
do not have disaster recovery procedures in place.
Small
business enterprises focus more on developing their business and growing the
profit margins than they forget company data safety, which is a significant
asset. Small businesses are at risk of more data loss than large business
corporations. Boss (2017) asserts that over 70% of small companies experience
significant data loss annually. Data recovery is a procedure, protocol and
policy that allows for technology infrastructure, which is crucial for any
business organization after a human-induced or natural disaster. Small firms,
in particular, have high stakes typically due to a lack of experts and budget
to protect the firm from data loss risks. Small business establishments are
hackers' sweet spots because they know that a weak information technology infrastructure
characterizes small entities. To worsen the matter, cyber criminals engaging in
ransomware reap handsomely from most small businesses to give back their files
since the firms lack recovery plans.
They
do not have a data backup.
A data backup plan is crucial in adopting an incidence recovery plan, but most small businesses lack it. The Lack of a back data backup plan has seen many small firms oust out of the market after data loss...