Read this https://dojmt.gov/wp-content/uploads/Glasswasherparts.com_.pdfLinks to an external site. sample breach letter “SAMPLE DATA BREACH NOTIFICATION” and describe how two different economics theories and two different social sciences theories relate to the letter.
The sample data breach notification displayed how a business failed to safeguard their customer’s information by relying on a third-party organization for their cybersecurity. It is an example of the Trust Theory which is a sociology theory that examines how trust between parties influences the outcome of that relationship. In this scenario the organization trusted the third-party organization to provide security for their data before it got leaked thus misplacing trust for future camaraderie. The other theory this letter showcases is the social exchange theory which is the theory that relationships are built on cost-benefit analyses where individuals seek to maximize rewards and minimize cost. This adds to the trust theory, where the company trusted the third-party to provide security, but was let down and the relationship was essentially soured. The rewards were minimized, and the cost was maximized. The two different economics theories that relate to the letter above are the Rational Choice and Keynesian economic theory. The Rational Choice theory is the theory that business and individuals will do what’s best for their own interests (pleasure versus pain). The letter showcased this when the data was leaked, and the organization decided to implement ways to ensure that the vulnerabilities were patched up after the data was leaked. The Keynesian economic theory calls for government investments and low taxes to stimulate the economy, and this letter showcases how the need for better cybersecurity investments is needed as data leaks and vulnerabilities are affecting businesses like the glass washer business.