The Importance of Risk and Security Management

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Security Services

As a result of the increase in crime rates, it is becoming crucial to have security services both at personal and organizational levels. The first type of security service is personal security which includes individuals hired to offer protection to specific people. This type applies to small organizations. Home security works to secure properties from criminals, which is often done using cameras, alarm systems, and motion sensors. This typology can be applied in both small and large organization. Automobile security uses alarm systems that are fit into vehicles and can be used in automobile companies. Event security offers security at parties, events, and even political gatherings.

Long-term Planning vs Strategic Planning

I disagree with the statement “It is unnecessary to implement long-term planning if strategic planning is being implemented.” This is because long-term planning involves coming up with the process by which the company’s strategic plan will be achieved. Besides, long-term planning works to meet the future needs using the current needs. In contrast, strategic planning resources are directed to achieve prioritized goals. His means strategic planning is a continuous process which needs the management to ensure appropriate resources through long-term planning to enhance sustainability.

Security and Risk Management

The relationship that exists between security and risk management is that if there is a gap in security management, a risk is created which will call for risk management measures. This makes risk and security to be directly proportional. This explains why security should be viewed as a component of a company’s overall risk management. To ensure the top management supports the idea of implementing a security risk management plan, I will present the advantages and disadvantages of the plan to showcase that the merits outweigh the demerits. Some of the reasons why an enterprise needs a security risk management plan include ensuring threats to the business are handled in a cost-effective and integrated manner. Also, it will help ensure security incidents directed to third-parties do not affect the enterprise’s activities. Another importance is that with the security risk management plan a firm is assured of remaining competitive even during and after a crisis. Other advantages include increasing the organization’s control over intellectual property, maximizing the company’s competitiveness and planning and enhancing compliance of the stakeholders with the regulatory demands.

October 24, 2023

Business Economics

Subject area:

Company Risk

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