Cybersecurity in Business: Legal, Social, Ethical, and Security Aspects

By: Aayan N. Introduction In the digital world we have evolved into, cybersecurity has become an important part of business operation. Organizations utilize information systems to store confidential data, process transactions, simulate markets, and offer services to customers via global networks. Although such use of digital resources enables unprecedented efficiency, reach, and innovation, it also enables unprecedented risk. A single event can destabilize millions of discrete records, collapse supply chains, or annihilate public trust overnight. Reports by industry always place ranking cyber risk among the foremost risks to global economic and social stability (World Economic Forum, 2022). The business relevance of cybersecurity is far more extensive than firewalls and encryption techniques. Companies need to be entangled with overlapping compliance mandates (e.g., the US HIPAA and the EU General Data Protection Regulation), deal with ethical concerns around data collection and survei...