Feature of the Month: Impact of Cyber-Attacks
on Global Business
Cyber security has been a hot topic recently,
as major corporations such as Sony Pictures and
Anthem were hit with significant attacks on their
companies’ networks. With more companies being
affected by cyber-attacks, cyber security has
become a pressing issue for the business
community. As each cyber-attack teaches us, any
company can be a target to hackers, and if
determined enough, hackers can breech most
companies’ systems.
To combat future cyber-attacks, many companies
are increasing their spending on security
measures. According to forecasts from Gartner
Inc., global spending on cyber security will increase by over 8% in 2015,
to $76.9 billion. Although huge, these security
costs pale in comparison to estimates of the
annual financial loss resulting from cyber-crime,
which is estimated to be upwards of $400 billion, or
about 0.5% of the world’s GDP.
With the massive amount of money being lost and
its remote nature, cyber-crime is an international
issue. Business leaders, government officials, and
technology experts across the globe are looking
for solutions to increase protection and fight
back. Whatever happens, cyber security will remain
an issue for businesses around the world, as
security and hacking continue to become more and
more sophisticated.
Featured Resource
Ready
Business
Provided by the United States Department of
Homeland Security, Ready Business provides
guidelines that business owners and managers can
follow to prepare for emergencies, such as a
terrorist attack, tornado, fire, or flood.
Category:Crisis
and Emergency Management, Security and
Risk
Featured Academy
Going
Online: E-Exporting Tools for Small
Businesses
This module was created in cooperation with the
U.S. Commercial Service and is the eleventh
chapter of the book A Basic Guide to Exporting. In
this module, we will cover: E-commerce defined;
your company's readiness to export on-line; steps
to going online. A case study on the company
Evertek Computer Corporation is also included.
Using
Technology Licensing and Joint Ventures
This module was created in cooperation with the
U.S. Commercial Service and is the seventh chapter
of the book A Basic Guide to Exporting. In this
module, we will cover: Methods of obtaining
foreign trade income; advantages and disadvantages
of technology licensing and joint ventures. A case
study on the company Spancrete Machinery
Corporation is also included.
globalEDGE Business Beat
Business Beat Segment 1 Doug
Barry
Tomas speaks with Doug Barry, deputy director
of the International Trade Administration’s Global
Knowledge Center in the U.S. Department of
Commerce; they discuss why companies should engage
in exporting and the resource: A Basic Guide to
Exporting.
Business Beat Segment 2 Udo
Zander
Tomas speaks with Udo Zander, the Ragnar
Söderberg Professor of Business Administration at
the Stockholm School of Economics; they discuss
the government crisis in Sweden and the Prime
Minister’s (Stefan Löfven) decision to call for
new elections in March 2015 (the first snap vote
in Sweden since 1958).
*More new radio interviews can be founded
in the globalEDGE
Buisness
Beat section!
