Answer to Question #320942 in Management for preethi

Question

You have been appointed as IT Head of a soon to be opened Retail chain store by the name of “India Retail Store” which will have branches all over India. India Retail store is a Private Limited company. Highlight atleast 5 security threats that a bank may face in today’s times and suggest 5 innovative IT security mechanisms to ensure that such threats do not harm your Retail store chain & that your systems remain as secure as ever.

Answer 1

• Some of the threats would include theft of physical goods by shoplifters and other criminals.
• Data breaches and digital theft mostly by people who shop online
• Inventory damage by natural disasters or other aspects
• Failing to monitor competitors which could kill your business.

Some of the solutions to these problems could be,

• Ensuring that you are always ahead of your competitors.
• Ensuring that you have the specific products for your customers
• Replace outdated POS system and hire cyber security experts.
• Finally train your employees how to detect shop lifters and punish them accordingly.