QUESTION(S):
In your responses to your peers, provide feedback on their explanations. Your feedback should be constructive and should address the following:
How do your peers’ posts help clarify the concepts for you?
What in their posts causes confusion for you?
What other information should your peers have included in their responses?
PEER POST # 1
After reading the information provided I would move forward by explaining the importance of securing information to a small business owner by putting the focus of the conversation on the success of the business. The goal of a small business owner is to make money and have a successful business. In order to do this you need to follow the law, maintain compliance, and keep customers happy. There are many laws and standards in place to make sure companies keep customer and financial information safe. If the small business owner does not want to comply to these, then they could be on the receiving end of a nasty lawsuit and then poof, there goes the business and all the money you invested in it. However, if they do follow the laws and standards, stay compliant, and protect the information that customers give them, that is a formula for building trust amongst your consumer base. The more consumers that trust you and value the product/service you offer the better the chance you will grow and have a successful business and steady income from it.
I have been notified several times of the years of potential data breaches containing sensitive information about me. Every time I receive one of those letters in the mail or an email updating me about it I immediately tell myself that I will not go back to the entity responsible for the breach. One case it was Target, and that forced me to cancel a credit card and get a new one. On top of disputing many charges I did not make. Another was Best Buy. Again, had to cancel my card and dispute thousands of dollars of charges I did not make. I will no longer shop at those retailers if given the choice because I no longer trust them with my information.
PEER POST # 2
Protecting information and trust would be incredibly important for a small business owner. I have a friend that owns a small business and he is an excellent example of this scenario. He has a single POS system that is third part which handles transactions and data protection for customers. He also has a computer that is solely used for other business needs such as ordering stock and online transactions, this way he can easily protect those two devices and keep his and his customers information safe. For a small business like this it is well worth it to pay monthly fees to protect yourself, even though the business isn’t incredibly profitable yet he realizes that in order to create growth he must have a trusting relationship.
I personally had my debit card compromised about a year ago. I know it was from using a compromised ATM, there is a gas station by my house that I use and the week after I used the ATM it was shut down and was out of order for at least a month. Thankfully I was able to retrieve the lost funds through my banks fraud department, but even so I went and changed all my relevant passwords and ensured that no other accounts were compromised.
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In your responses to your peers, provide feedback on their explanat appeared first on Scholars Hub Blog.
