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Ethical Practices for Cybersecurity Investments & Purchases

Moral and ethical requirements should serve as drivers which encourage a business to invest in or spend money on cybersecurity products, services, and programs.

You have been invited to participate in a round table discussion on the above topic at a conference on Best Practices for IT Security Management. For this activity you must prepare a 3 to 5 paragraph briefing statement which answers the following questions. You must use and cite information from the weekly readings.

  1. What is stakeholder theory? How does it drive requirements to spend money on cybersecurity products & services?
  2. How does social contract theory apply to purchasing requirements for cybersecurity products & services?
  3. Name and briefly describe 3 ethics issues that IT Security managers and staff may encounter when selecting and evaluating cybersecurity products & services. (Use examples to drive home your points.)

Provide in-text citations and references for 3 or more authoritative sources. Put the reference list at the end of your posting.

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Sample Answer

 

 

 

 

Good morning/afternoon, esteemed colleagues. I believe moral and ethical requirements should absolutely serve as drivers for cybersecurity investments. Here’s why:

  1. Stakeholder Theory: This framework posits that businesses have a responsibility to consider the interests of all stakeholders, not just shareholders (Freeman, 2019). In the context of cybersecurity, stakeholders include:  

    • Customers: Protecting customer data is paramount. Data breaches can severely damage customer trust, leading to financial losses, reputational damage, and legal liabilities.  
    • Employees: Cybersecurity breaches can impact employee privacy, disrupt work, and even lead to job losses.

       

Full Answer Section

 

 

 

 

 

 

    • Suppliers: Secure supply chains are essential for business continuity. Cybersecurity breaches can disrupt operations and impact the entire supply chain.  
    • Community: Cybersecurity incidents can have broader societal impacts, such as infrastructure disruptions and national security threats.  
    • Investors: While profit is a key objective, long-term investor value is enhanced by strong cybersecurity practices that mitigate risks and build trust. Stakeholder theory compels organizations to invest in cybersecurity to protect the interests of all these groups, recognizing their interconnectedness and interdependence.  

  2. Social Contract Theory: This theory suggests that businesses operate within a social contract with society, with an implied obligation to act responsibly and ethically. Cybersecurity investments can be viewed as fulfilling this social contract by:  

    • Protecting critical infrastructure: Ensuring the security of essential services like healthcare, transportation, and energy.  
    • Combating cybercrime: Contributing to the fight against cybercrime and protecting individuals from online threats.
    • Upholding public trust: Demonstrating a commitment to responsible data handling and privacy protection builds public trust and confidence in the digital economy.  

  3. Ethical Issues in Cybersecurity Product Selection:

    • Data Privacy Concerns: Selecting products and services that prioritize user privacy and data protection. For example, avoiding solutions that excessively collect or share user data without proper consent or legal justification.
    • Ethical Hacking and Vulnerability Disclosure: Ensuring that cybersecurity products and services are not used for malicious purposes, such as exploiting vulnerabilities in other systems or conducting unauthorized surveillance.
    • Fair Competition and Innovation: Supporting a competitive cybersecurity market that fosters innovation while discouraging anti-competitive practices such as market dominance or unfair advantage through unethical means.

In conclusion, moral and ethical considerations should be paramount in all cybersecurity decisions. By prioritizing the interests of all stakeholders and adhering to ethical principles, organizations can build a strong cybersecurity posture while upholding their social and ethical responsibilities.  

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