CYBER SECURITY: Business Balancing Act
Companies can be victims of cyber attacks, but their customer relations could also be compromised at that time.
“If that were to happen the customers are going to look at that and say I’m not going to do business with them because I can’t trust them,” says ISU Supply Chain and Information Systems associate professor Brian Mennecke.
Mennecke says businesses do need to protect themselves from cyber attacks, but also they must give customers the assurance and establish trust so cyber security will not be an issue.
For example, customers want to know their credit card number is safe and having a good defense can give companies a competitive edge to attract new clients.
Mennecke cites companies like Amazon as a company that does a lot of business due to their reputation for being secure.
“But you know if you get the wrong product you can easily return it and for that matter they’re good for their word. They’re gonna send you what they promised to send you that trust relationship has been established, even in a day and age when security is a great concern you look at a vendor like that and you say ‘I think they know what they are doing so I’m going to be able to trust what I’m giving them,’
“ says Mennecke.
Menneke says many companies may have to outsource security for cyber systems to deal with more complex attacks.
Another professor at Iowa State compares a cyber security system, to a burglar at your home. If the door is locked, and you have a good security system in place, the burglar will go someplace else to break-in.