IT systems and networks enable rapid transmission of data between vendors, buyers, merchandisers, store associates, customers and financial institutions such as banks and other payment gateways. The action plan for the immediate future must be to contain the security breach and implement steps to fix the vulnerabilities. Essay 5 Pages 3 Days. Opportunities Strong customer base and loyalty. It is the overruns and canceled orders due to unpredictability of the market, and the inability of designers and full-price retail stores to perfectly predict consumer demand, that create excess inventories for off-price consumption.
There should be training conducted throughout the organization to increase awareness about the importance of basic IT security measures such as not sharing passwords or leaving computer systems unlocked, to prevent internal security breaches. The security breach exposed multiple vulnerabilities in the IT networks, systems and processes at TJX which are described below: He also had to get the management of TJX to start looking at IT security not as a technology issue but as a business issue. Moreover, TJX must not store vital credit card information of customers. Retrieved February 3, , from http: We deliver custom-made help to students with writing different types of assignments. Auditing must be done on a regular basis.
There are no incentives or rewards for identifying or reporting security issues internally.
The chief security officer has to focus on plugging the loopholes in the company’s information technology IT security, in the short term, and taking steps to ensure in the long term that the attack does not recur. Security breach at TJX. Recommendations Introduction TJX is one of the largest apparel and home fashion retailer in the United States in the off-price segment.
Minimize Your Search Finding a sample from a list of thousands is nothing less than spotting a needle in a haystack. TJX had retained the data of customers even after years.
Role of IT and Strategic Grid. Lack of regular audits. Explain about the Advertising for An integrated marketing communication perspective? Our writers know every trick of crafting high quality write-ups within a short period.
SECURITY BREACH AT TJX – Analysis | Phani Krishna Reddy Vuyyuru
TJX ranked th in the Fortune rankings for Off-price companies serve a special niche in the retail industry, capitalizing on volatility in consumer demand and mistakes made by designers and full-price retail outlets to keep their stores stocked with new low-price products.
They must be located near security cameras or store registers to ensure constant vigilance. This brings forth the issue of negligence, lack of monitoring and securing physical in-store IT assets. Smart, profitable retail organizations get into such situations because of hand held price checking devices, point of sale cash registers, and the computers used in the retail stores.
TJX management must drive the organizational strategy for a secured IT framework to meet its strategic goals. TJX should improve its encryption techniques and test them under various circumstances. Maxx, Marshalls, Homegoods, A. They had used telescope shaped antenna and laptop computer to decode the data Graves et al. You get free access to choose and bookmark any document you wish. It does not include a scan of the database to check for unencrypted data.
The ripple effect of an information security breach event: The University of Chicago Law Review, This involves faults in the audit system as well. TJX must ensure that process and access logs are maintained at each and every system.
There is a clear lack of ownership and authority in terms of IT network and systems security. An effective risk management process will provide reduced cost of operations, predictability, transparency and confidence, avoidance of security breaches, and enhanced capabilities.
Threat of Substitute Stud Since TJX does not have a brand value of its own, but relies on other branded products, there is a high threat of substitute products, in terms of clearance or outlet sales by the branded department stores themselves, which also offer huge discounts and attract the brand and price-conscious consumers that TJX targets.
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Several points contributed to the breach.
SECURITY BREACH AT TJX – Analysis
Log In Sign Up. InTJX was the market leader and the largest off-price apparel and home fashions retailer in the US. Retrieved February 2,from http: We guarantee total need-based and timely service, and this is why increasing numbers of students prefer to buy fjx online.