Journal Entry 11

Read this https://dojmt.gov/wp-content/uploads/Glasswasherparts.com_.pdf  sample breach letter “SAMPLE DATA BREACH NOTIFICATION” and describe how two different economics theories and two different social sciences theories relate to the letter.   

Economic theories, such as cost-benefit analysis and market failure, are relevant to the sample data breach notification letter. Its emphasis on the costs associated with the breach, such as the possibility of monetary losses and reputational harm, indicates the cost-benefit analysis theory. The hack demonstrates how the market cannot protect consumer data adequately. This situation is consistent with the theory of market failure. As for social science theories, social contract and conflict theories may have relevance to the letter. The company’s failure to protect customers’ personal information is a breach of trust that they have placed in the organization. Thus, such a notification can be interpreted as a breach of this social contract. Conflict theory can be used because the breach may cause conflict within the company, as it now has to deal with the fallout from the incident that affects the company and its clients. 

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