Running Head: CURRENT BUSINESS PROCESS 1
CURRENT BUSINESS PROCESS 6
Current business process
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Current business process specific industry
A business process can be defined as the series of steps taken by stakeholders of a specific organization to achieve specific concrete goals. Each of the steps taken in any business process indicates an assigned task assigned to specific participants. This, therefore, becomes the building block for related business ideas such as process automation or business process management (Gabryelczyk & Hernaus, 2020).
Information security
Information security has been one of the road maps to ensuring security when it comes to business process management. This is of the utmost importance to any standing business. Existing managing solutions for the flow of any organization rarely consider information security, and if they actually do, it is always dependent on third party tools and organizations. This dependency, therefore, makes the process of securing data flow in any organization a cumbersome and non-intuitive routine. Business process security management issues always exist in many businesses. Business process management, therefore, aims at creating effective business values and eliminating possible threats (Andersen, 2007).
Security hazards such as data theft, security attacks, and malware pose a major threat to the reliable business process’s execution. This might negatively affect a company’s value in terms of reputation, shareholder value, and profit. Data flow in any enterprise and managing all processes are the key to any successful business. Customers are now concerned about the security of their information before choosing an organization to work with. This is because when their information is not well secured, they are also at a greater risk of facing a cyber-attack (Draheim, 2010).
Industry in which information security is utilized
Information security is utilized in many industries that use information technology in conducting business. Over the past years, technology has been developing and changing very fast; many industries have been adopting the new technology in their organizations. The computer industry has been the main users of information security as they have to ensure a safer flow of information around their organizations. The construction industry has greatly applied information security in protecting their customers’ and employees’ crucial information. The aerospace industry has also applied information security to secure much crucial information concerning their research (Andersen, 2007).
Security has been a topic by the government and organizations, gaining more and more interest. There is a vast data amount that businesses have to deal with each day, and lack of security awareness poses a great motivation to exploit both human vulnerabilities and software vulnerabilities. Users of the new technology tend to continue using it regardless of existing security vulnerabilities if they get enough benefits from this technologies. Continuous fostering and encouraging recognizing the need for security culture have increased as cyber threats increases. Some of the most serious cybersecurity challenges have been data storage location for a business, securing business networks, malware, and threats (Andersen, 2007).
New technology a business should deploy
Business security terrorism remains a top concern when it comes to information security. Blockchain is the latest technology that a business should be deployed when it comes to information security. Blockchain being one of the latest cybersecurity, has been increasingly gaining recognition and momentum. This works based on making identification between two parties in a transaction. It also works in terms of peer to peer network on the basis of blockchain technology in the network fundamentals. Every member in a specific blockchain is responsible for the authenticity verification of added data (Gabryelczyk & Hernaus, 2020).
At the same time, the blockchain creates a network that is near an impenetrable network for hackers. This also safeguards data ensuring that it hasn’t been compromised, therefore establishing a robust system of verification that is aimed at keeping cyber threats at bay. This method has been working well in most organizations that have been utilizing it (Andersen, 2007).
Pros and cons of blockchain technology
Pros
An advantage of this technology is a very trustworthy distributed system as the transaction is made in public, which ensures that every transaction stage is verified and the need for intermediaries is replaced. There is no government interference in blockchain technology, making it possible to manage the systems effectively. It also has increased stability, which ensures that companies can rely on this systems to ensure higher retention for the services. Blockchain has brought about improved financial efficiency and security (Draheim, 2010).
Cons
Bloch chain might be disadvantageous to some point as it is extremely volatile. There are also security issues facing this technology, as this might be providing the best security so far, but it is not completely secure. Data modification becomes difficult when it comes to blocking chain technology as data modification becomes difficult once it has been recorded (Andersen, 2007).
Factors to be considered before deploying the new technology
Before implementing this technology, there should be greater clarity, which is a very crucial aspect of any new technology. Options should be evaluated in ensuring that this is the best one to implement. Return on investment should be considered to ensure that the implementation of this technology will be beneficial. Cybersecurity for this technology should be considered to make sure that the organization is in a position to securing the system (Gabryelczyk & Hernaus, 2020).
References
Andersen, B. (2007). Business process improvement toolbox. Quality Press.
Andersen, B. (2007). Business process improvement toolbox. Quality Press.
Draheim, D. (2010). Business process technology: A unified view of business processes, workflows, and enterprise applications. Springer Science & Business Media.
Gabryelczyk, R., & Hernaus, T. (2020). Business process management: Current applications and the challenges of adoption. Cognition Foundation for Dissemination of Knowledge and Science.