Week 6 Discussion Questions and Participation Questions - Essay Example

1. Information assets represent a valuable asset a company must safeguard due to its intrinsic value. An example of an information asset is the formula Kentucky Fried Chicken uses to prepare its chicken. Other examples of information assets are operating procedures, patents, and service protocols. Internal controls are needed to safeguard information assets. The use of encrypted passwords to access the database or intranet of a company is an example of an internal control mechanism. Establishing security clearance levels is another mechanism that can be implemented to improve the internal controls of a company.

Only the top executives such as the CEO would have access to privilege information. 2 Information assets are pieces of information that increase the goodwill of a company. Three examples of information assets are project plans, patented or copyright material, and internal processes used to improve the productivity and service quality of a company. In the United States patent protection has help many companies and inventors protect their intellectual property. The managers of companies must implement security protocols to safeguard information assets due to its value and importance towards the success of a company.

Information assets are used by the company to improve productivity, while at the same time raising the value of the enterprise. 3. Your description and assessment of information assets in your response was outstanding. It included a lot of the areas in which information assets affect a company. I believe that information assets have become more important than ever due to the heavy competition companies in the United States face as a consequence of the globalization movement and internationalization of the business industry.

In the past companies could survive by concentrating solely in the domestic market. This is not longer a strategy that is suitable for companies that aspire to achieve tremendous levels of growth. The use of information assets is critical towards the success of any company. 4. I had not thought of a client database before as an information asset; that’s a great example. The client database of a company is an extremely valuable information asset that helps companies achieves its desire level of sales.

There is a rule in marketing that stipulates that 80% of your sales come from 20% of your customers (80/20 rule). The client database information assets must be used to improve the customer retention rate of the firm’s clientele. Companies have to protect the information systems of companies against unlawful entrance from hackers. 5. I like the example you mentioned about only 4 digits of the social security number showing up. I have noticed that trend in a lot of databases from governmental agencies or companies that need to have access to the social security number of a person.

Safeguarding information is more important than ever due to the rapid rise of identity theft cases. In the medical industry doctors have to protect the patient records which represent an information asset of the medical office. Both the electronic and written records of the patient are confidential.