Digital risk management is the most significant success factor required to lead in this digital age with the more important organizational and business agility. Businesses can form a flexible digital voyage encircling a good digital strategy, a suitable business case scenario, and a flexible process flow. Different control measures are required to be planned as per the leading standards for the applicable digital risk areas. The significant factor for defining the major controls is to understand the operational nature of digitization, since majority of these areas are at a emerging stage and tightly clipped with systems or physical processes, It was observed in the literature review that Digital risk being a relatively new field, there is a dearth of academic research available in the technology sector pertaining to sources of cyber security, use cases and mitigation models. Hence the objective of this study is to understand the mitigation strategies around data loss by studying several organizational use cases and propose a mitigation model to curtail the risks in these areas. The paper adopts a case study-based approach and discusses use cases of Data loss, its impact and solutions for its mitigation. The study aims at providing insights to managers in digital risk which is a relatively new digital domain and proposes solutions for mitigation of those risks. It will help managers cultivate a fresh approach to understand and adapt to emerging digital threats and develop a resilient digital risk management strategy for the organization.
Volume 11 | 09-Special Issue
Pages: 440-447
DOI: 10.5373/JARDCS/V11/20192590