Emerging Global Risk: Threat of Cybersecurity

Ethics, Compliance, Auditing, and Emerging Issues
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Ethics, Compliance, Auditing, and Emerging Issues
An emerging global risk
Being a CEO comes with certain responsibilities that are critical for the success of a business. As a CEO pushes an organization towards profitability, it is important to be aware of emerging global risks. The world has become global with technology improving connectivity. As a result, the risks that modern business face are more global. One of the most pressing risks in today's world is the threat of cybersecurity. While organizations continue to embrace technology to improve efficiency, this has exposed them to vulnerabilities that threaten to compromise sensitive data and compromise important operations. If this happens, then the reputation of the organization will be at stake. This proposal seeks to establish an ethics program, a training plan, and an auditing strategy to mitigate the risks that cybersecurity poses to the business.
Countries associated with the risk
No country is immune from the threats of cybersecurity. All the countries are at risk of cybersecurity. Bad actors wishing to compromise the integrity of systems target different countries around the world. Gone are the days when cybersecurity was considered a problem in developed countries. Today, both developed and developing nations are at risk of cybersecurity. Cybersecurity threats transcend geographical borders and affect any organization regardless of its geographical location (Adams & Albakajai, 2016). However, it Is important to appreciate that some countries are at higher risk of cyber-attacks than others by the virtual of their technological advancement and political position. In particular, developed nations are at a higher risk of cyber-attacks since their economies are developed ad cybercriminals can achieve economic and political mileage.
The following countries are at a higher risk of cybersecurity and hence having an organization in these nations increases the chances of cyberattacks. First, the United States (US) is one of the countries at a high risk of cyber-attacks. The US is a superpower nation with a significant technological infrastructure. The country is known for its military prowess and advanced research. Other nation-states are interested in the technology of the US and may want to penetrate its systems to access some of the classified secrets. If attackers manage to access the infrastructure of the US military and other governmental organizations, they can access sensitive information (Riggs et al., 2023). The US is also a global technological leader with extensive digital infrastructure. As a result, it has attracted high-profile organizations that require such infrastructure to operate. This makes organizations in the US a prime target since attackers know they can access critical information that is otherwise not accessible to the public.
Another country in the world at a high risk of cybersecurity is China. Over the years, China has made efforts aimed at making it a global leader. The country has taken major steps aimed at propagating itself for the future. China has invested heavily in technological advancement to take advantage of the opportunities available (Sun, 2019). With the rapidly growing technological ecosystem, China has become a major target for cyber-attacks. The large population and the extensive online connectivity expose the population to cyber-attacks. Criminals may be interested in the technological advancements the country is making. Others may want to take advantage of organizations in China to extort money through ransomware attacks.
The other nation is Israel. The country has emerged as a global leader in technology especially in the cyber space. Israel is a major target of the neighboring countries, a majority of whom do not recognize its existence (Shakir, 2021). Israel is at risk of getting attacks directed by its enemies, especially the neighboring Islam nations. The opponents may target Israel's digital infrastructure to know the country's secrets. Most of the major attacks against Israel are likely to be from not only criminal organizations but also state-sponsored actors. The information obtained from successful cyberattacks is likely to be used to gain a military advantage over Israel.
Effects of the risk on each country
For the US, cybersecurity risks can have a major impact on national security. As a superpower, the US holds a lot of sensitive information that may be of interest to other countries like China and Russia, which are the major competitors for global dominance (Lieberthal & Jisi, 2012). If attackers manage to access classified information from the US, this can compromise national security and make the nation an easy target. At the same time, such attacks can disrupt essential services. Citizens may be unable to access important services, which can hinder their ability to operate as required. This can make it challenging for people to continue with their daily lives.
In the case of China, cyberattacks can have adverse effects on the economy. China has established itself as a manufacturing hub and a major global supply chain player. China has become an economic hub with businesses from all over the world (Barth, Caprio & Phumiwasana, 2009). The availability of cheap labor and infrastructure like roads has made China a major target for multinational businesses. In the case of a cyberattack, this can lead to significant financial losses for businesses and people. The disruption of critical infrastructure can make it challenging for the country to operate. In particular, a compromised financial system can make it challenging for China to manufacture products on a large scale. Such disruptions can have far-reaching economic consequences for businesses located in China.
For Israel, successful cyberattacks mean sensitive information gets into the hands of bad actors. Since Israel is at constant war with some countries in the Middle East, cybercriminals can access sensitive data that gives the opponents a military advantage. For organizations located in Israel, cyberattacks can damage their reputation and lead to a loss in clients. Investors can also shy away from investing in Israel for fear of cyberattacks.
The role of ethical decision-making
Ethical decision-making is instrumental for the organization in addressing the global risk that cybersecurity threat presents. When making any decision, it is instrumental to be ethical for the following reasons. First, ethical decision-making will allow the organization to mitigate any potential harm that cyberattacks may have. When the business acts ethically, it is better positioned to put better security measures to minimize data breaches, while addressing any vulnerabilities that emerge. Ethical decision-making will allow organizations to make changes aimed at enhancing security. For instance, the business can develop better incidence response plans which can assist the business in the case it comes under attack from cyber criminals.
Moreover, ethical decision-making will cater to the diverse interests of stakeholders in the business. The business has various stakeholders like staff members, clients, suppliers, investors, and partners among others. When the organization makes ethical decisions, it will commit to protracting the interests of these major stakeholders. In particular, stakeholders want to engag...