Risk Factors

Risk Factors and Challenges to Various Industries

When society deals with risks , whether of aggression , natural hazards or a controversial technology , it is engaged in a political process . The politics concern allocation both of tangible benefits and costs and of symbolic assets and liabilities . Often at stake are human life and health and the quality of life . Also at stake seem to be tangible economic values in the form of property , markets , and business opportunities (Palmlund , 1992 ,

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It is important to note that the risk factor associated with a

particular threat is almost always determined by environmental conditions . As what the common threat of fire does not always have the same risk level , risk must also be understood as essential uncertainty The social interaction over risk has strong roots in existential anxiety and in the needs we have to exert control over the unknown and uncontrolled . In this interaction , it is possible to discern patterns that are continually created and recreated through emotional and intellectual experience

Managers and risk professionals spend a considerable amount of time trying to assess the risk levels associated with each threat identified as a possible danger to the target environment they are responsible for protecting . The moment a threat manifests itself in an industry , it is likely to produce another security term : a loss event . The term loss event refers to damage , or loss , to the target environment . Once a threat materializes , the risk concern shifts from probability (likelihood ) to criticality (degree of damage . Typically , damage translates into some type of monetary loss to the company (Clifford 2004 . It is the job of every manager or risk professional to make certain a plan is in place not only to prevent the threat from happening , but to minimize the damage the threat can do if it does happen . Remember , no environment is ever 100 percent threat free . Thus risk managers must identify possible threats and assess risk levels in an effort to successfully establish a security plan that will minimize loss events in the industry where they belong . Achieving safety and security is a never-ending process that is always changing . Sticking with processes that identify threats , assess risks , identify countermeasures , implement countermeasures , and then review the existing structure should be implemented . People and resources must be assessed , and decisions must be made about how the target environment can best be organized and managed to achieve the desired security objectives

Information Technology and Internet-Related Sites

Industry Risks

The adoption of wireless technology and the ever-increasing use of the internet to conduct commercial activities have given birth to a wide range of security and privacy issues . The threat of malware (malicious software such as viruses , worms and trojans designed to steal data impair computers or even remotely take over computer operations continues to make headlines on a daily basis . Also of growing concern are spyware (data collection programs which surreptitiously monitor users , often hidden in otherwise harmless software ) and online fraud (identity theft , phishing and...