CYSE 200T Journal #7

Investing in a cybersecurity program is likely a smart move for almost all businesses, and should not be overlooked. The implementation of a cybersecurity program comes with its costs and benefits, which need to be weighed by the company or business to decide if its worth their time, effort, and money. The first cost of implementing a cybersecurity program could simply be the price. Depending on how large a company is, or how many assets need to be protected, cybersecurity can be a very costly endeavor. A lot of small to medium sized businesses don’t have the funds to allocate towards a whole cybersecurity program. However, a benefit that I believe outweighs the price of a cybersecurity program is that a company is being proactive rather than reactive, which could save more money in the long run. Investing in a cybersecurity program can prepare and safeguard a company from unauthorized user access and data breaches; the money spent on a new cybersecurity program can outweigh the costs of a potential data breach which could have many other adverse reactions other than financial, such as reputational damage and loss of customer trust. Another cost of bringing in a cybersecurity program could be the new and ongoing training/retraining of employees. All employees might have to be retrained due to the new security measures and continually retrained seeing as cybersecurity is an ever-evolving threat. An additional benefit of cybersecurity is the trust and confidence it instills between business owners and their consumers; individuals want to be getting products or services from a company that has their best and safest interests at mind with the top priority of protecting their personal, sensitive information. As with any important and impactful decision for a company, a cost to benefit ratio has to be considered to decide whether or not something is worth the time and money. In my opinion, any investment into cybersecurity, even if it be small, is a good decision for all companies and businesses nowadays.

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