MAKING BUSINESS DECISIONS 1. Firewall Decisions You are the CEO of Inverness Inv
ID: 393226 • Letter: M
Question
MAKING BUSINESS DECISIONS 1. Firewall Decisions You are the CEO of Inverness Investments, a medium-size venture capital firm that specializes in investing in high-tech companies. The company receives more than 30,000 email messages per year On average there are two viruses and three successful hackings against the company each year, which result in losses to the company of about $250000 Currently, the company has antivirus software inre installed but does not have any firewalls Your CIO is suggesting implementing 10 firewalls for a total cost of $80000 The estimated life of each firewall is about three years. The chances of hackeris breaking into the system with the lfrewals installed are about 3 percent. Annuai maintenance costs on the firewalls are estimated around $15.000 Create an argument for or against supporting your ClO's recommendation to purchase thel firewalls. Are there a lition to finances ny considelExplanation / Answer
The argument for supporting CIO's recommendation for purchasing the firewalls are financial as well as operational. Installation of firewalls will cost approximately 10 % of the amount compared to losses incurred by the company each year due to hacking. This is smaller amount invested in security of information systems considering the risk faced by the business due to virus attacks and hackings.
Apart from financial considerations, it is important that business networks are secure to avoid any stealing of information or misuse. Firewalls prevent any attacks or threats on the network and ensuring network security. Firewalls help in monitoring and filtering traffic to the network systems of the organizations. In absence of firewalls, there is a threat to customer data, user identities and company may lose its business and competitiveness. It is required for ensuring smooth operations and prevent any unwanted attempts of intrusion or invasion of IT systems. Installing firewall can lead to preventing any loss of resources or business which may occur due to modern threats.
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