The process of Risk management for E-business

• Author: Erion Lekaj - Donika Kercini
• Position: European University of Tirana, Albania
• Pages: 81-85

Vol. 3 No. 2

July 2017

ISSN 2410-3918

Acces online at www.iipccl.org

81

Academic Journal of Business, Administration, Law and Social Sciences

IIPCCL Publishing, Graz-Austria

The process of Risk management for E-business

Erion Lekaj

European University of Tirana, Albania

Donika Kercini

European University of Tirana, Albania

Abstract

In the new Internet economy, risk management plays a critical role to protect the organization

and its ability to perform their business mission, not just its IT assets. Risk management is

the process of identifying risk, assessing risk, and taking steps to reduce risk to an acceptable

level. The risk management is an important component of a IT security program. Information

and communications technology management and IT security are responsible for ensuring

that technology risks are managed appropriately. These risks originate from the deployment

and use of IT assets in various ways, such as confi guring systems incorrectly or gaining access

to restricted so ware.

Keywords: risk, e-business, threat, vulnerability.

Introduction

E-business continues to radically alter the competitive landscape in most industries.

And the equipment leasing industry is no exception. Innovative Web sites now

bring information and services to the end customers that were once only available

through intermediaries and at high costs. They can now trade securities, complete

banking transactions, access suppliers, process invoices, apply for loans—and yes

complete leasing transactions—all on-line, quickly and inexpensively. E-business is

dramatically reducing the cost of critical business processes as well. Large fi nancial

services companies and institutions are slashing various expenses through the use

of Web-based exchange systems that allow the end user, the employee, to instantly

identify and transact for needed products without legions of internal support

personnel or external intermediaries. Yet, despite these marketing and operational

opportunities, e-business brings with it risks never before encountered by fi nancial

services organizations. Access through the Internet brings heightened concerns

about security, information protection, and privacy. The rapid growth of an Internet

customer base and the need to constantly update Web sites, brings technology issues

regarding scalability, manageability and business continuity. These issues have also

led to changes in regulatory requirements that now must be addressed faster than

before. The main purpose of the study was to provide a basic overview of the kinds

of e-business risks companies have faced and the techniques used to manage these

risks using a questionnaire

The questionnaire was broken down into three main sections. The fi rst section included

a table that gave the responding managers a free hand to identify key problems or