Assets Protection of the Organizations - Essay Example

There are however other issues that have to be considered throughout the discussion and this would be related to delineating the organization’s assets, specifying the security risks, understanding why there are security risks within an organization and what are these risks, and how these can be measured and identified. It is also necessary to understand how these security risks could be determined and what are the methods used for analysis and examination of these security risks. These are issues that have been elaborated on in this discussion and the methods for the analysis of security risks are discussed in a step-by-step approach. This is dealt with in the methodology section and shows the various methods used for determining the risks of any business and especially the risks that have to do with the security of an organization and in management and protection of assets within a business organization or company.
A literature review is drawn up here considering recent studies on risk assessment and perceived threats to a business organization. Several kinds of risks are highlighted and this would relate to security, management, information technology, and privacy, operations, and decision making.
In a recent paper, Jones (2007) discusses the possibilities and needs of developing a framework for information security assessments in any organization, and a risk framework is essentially used to describe the components of security risk management within an organization. The framework is also used to identify, assess and treat the risk exposure of an organization and provides certain regulations that are used by board members, staff, and management for improved communication and understanding.
Risk management frameworks within an organization provide the outline for the implementation of security risk management and define the role of participants, employees, and management within an organization. The techniques supporting risk management in product development philosophy have been analyzed by Ahmed et al (2007) and a standard for product development in CE has been identified. The applicability of processes in risk management, risk identification, assessment as well as techniques for the context are considered within the risk management framework and the concept of managing risks has been gaining importance within global business focus and competition. A risk-focused approach shows the integration of several techniques with increased effectiveness of project management. Risk management tools are effectively used for the development of engineering and product development projects (Ahmed et al, 2007). The evaluations of risk-related decisions could be driven by biases of risk propensity and these could be categorized in terms of reference levels, assumption of accounting methods, bias or overconfidence, decision makers’ perception, and desire for gratification.
A study of biases can highlight decision-making by executives using any representative and typical business decision. Decision-makers usually face a choice of several alternatives and Coleman (2007) studied decision making in several management executives and noted their attitudes and decision styles. Data were collected through an electronic survey and decision-maker traits were studied along with attitudes towards risks and decision-making.