Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Crisis leadership literature review
Leadership in a Crisis
Target security breach incident
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Crisis leadership literature review
I found three different e-commerce companies that have recently encountered a consumer privacy data breach. Target one of the most well-known breaches affected almost 40 million people, Evernote Corp. an online note-taking service, and LivingSocial a company which offers gift certificates for customers to use in different cities around the globe. In this paper I will be discussing what happened and how each company handled the different situations that they encountered.
Target is one of the biggest and leading companies in the retail market. “Target’s customer credit and debit card information of as many as 40 million customers was compromised it was called one of the largest breaches ever of American consumer data.” (Jamieson & Erin, 2013) “The breach captured data stored on the magnetic stripes of the cards that customer’s swipe at the cash register, according to Krebs on Security, a respected data security blog. The breach involved everything from customer names, e-mails as well as mentioned the credit card information including the CVV codes on the back of their cards. The breach occurred during the holiday season of Thanksgiving including Black Friday one of the notorious shopping holidays of the year.” (Jamieson & Erin, 2013)
According to an article on Forbes website “The Company moved quite slowly on this breach.” (Burg, 2014) Target was slow to respond to the situation which in turn made people second guess what Target’s priorities were in this incident. It shows that they were more concerned with their image rather than letting the customers know right away. “Customer service lines for the company’s own Target Redcard credit cards were in gridlock.” (Burg, 2014) This means that they weren’t evening addressing the cust...
... middle of paper ...
...-million-passwords-reset/
Jamieson, A., & Erin, M. (2013, December 19 ). Millions of Target customers' credit,debit card accounts may be hit by data breach . Retrieved from NBC News: http://www.nbcnews.com/#/business/consumer/millions-target-customers-credit-debit-card-accounts-may-be-hit-f2D11775203
Johnson, K. (2013, May 6). LivingSocial Reveals Cyber-Attack, Notifies 50 Milion, Says No Credit Data Breached. Retrieved from Bloomberg:BNA: http://www.bna.com/livingsocial-reveals-cyberattack-n17179873787/
Wagenseil, P. (2013, March 4). Evernote Breaks Own Security Rule in Data-Breach Email. Retrieved from Tech News Daily : http://www.technewsdaily.com/17138-evernote-breach-booboo.html
Westervelt, R. (2013, April 29 ). LivingSocial Data Breach Affects Millions. Retrieved from CRN: http://www.crn.com/news/security/240153803/livingsocial-data-breach-affects-millions.htm
Compared to its rivals Target has not diversified in the retail industry, which makes the company vulnerable to changing shopping patterns and economic downturns.
According to Kantar Retail, most of Target’s shoppers are younger on average than its rivals, and more educated. That means it has to consistently offer something different and appealing; it emphasizes more on the latest-trend apparel, eye-catching home décor and exclusive designer merchandise than its competitors. This results in a willingness to pay a bit more for items by customers who are willing to pay a bit more. Moreover, this successful
By the year of 1966 the company expanded by opening two new stores in Denver, Colorado. Within four years target had 17 stores in four states closing the decade with 40 percent average growth and $100 million in annual sales. In the 1970s a primary focus for target was reinvestment in its employees. Starting in the year of 1989 all employees had been trained through a course called “ Target U” this trained target employees to treat customers like guests, and to generate a fast, friendly, and fun shopping experience for their guests.
Target has seen consistent growth since its inception, and has confidence that future growth will continue (see attached financial statements). In 2004, Target sold two of there business units, Mervyn's and Marshall Field's for approximately $4.9 billion. This allowed for extensive aggregate pretax cash that will be used for future store sites (as well as upper management bonuses). Target's Board also approved a $3 billion share repurchase program which they expect to complete in two to three years.
Issa utilizes statistics to suggest ideas. He says, “The Office of Personnel Management’s security breach resulted in the theft of 22 million Americans’ information, including fingerprints, Social Security numbers, addresses, employment history, and financial records” (Issa). Issa also adds that, “The Internal Revenue Service’s hack left as many as 334,000 taxpayers accounts compromised‑though just this week, the IRS revised that number to o...
In December 2013, Target was attacked by a cyber-attack due to a data breach. Target is a widely known retailer that has millions of consumers flocking every day to the retailer to partake in the stores wonders. The Target Data Breach is now known as the largest data breach/attack surpassing the TJX data breach in 2007. “The second-biggest attack struck TJX Companies, the parent company of TJMaxx and Marshall’s, which said in 2007 that about 45 million credit cards and debit cards had been compromised.” (Timberg, Yang, & Tsukayama, 2013) The data breach occurred to Target was a strong swift kick to the guts to not only the retailer/corporation, but to employees and consumers. The December 2013 data breach, exposed Target in a way that many would not expect to see and happen to any major retailer/corporation.
It is obvious that Target guests, are not seeing the truth in their mission statement Expect More, Pay Less more reasons for them to adapt the revision mission statement that will help target reach their goal by fulfilling their brand promise. Sometimes words are not enough and by implementing tools and resources to support their goal will only benefits Target in the long run. If Target stand behind their mission which is the community, diversity and environment they must continue to live by the former CEO, Bruce Dayton words which are “businesses should act in the best interest of society” (Target.com). Target must give their guests what they want and that is to Pay Less for merchandise while educating them on how to do that every
Target Corporation was founded in 1902 and is headquartered in Minneapolis, Minnesota. It sells its products through its stores and digital channels, including Target.com, and presently operates 1,826 stores. This report will focus on the capital structure of Target Corporation, discuss Target's most recent short-term and long-term financing decisions, give an analysis of the economic, business, and competitive background in which they operate, discuss Target's international investment and financing opportunities, review Modigliani and Miller’s capital structure theory as it relates to Target Corporation, and finally offer possible outcomes that would optimize Target's financial policy and capital
Target is one of the America’s top retailers, but still has a few things that can be improved upon before it can overtake its top competitor. Although Target may not be the top ranked retailer at the moment, it’s not hard to see why this company has stood the tests of time and continues to thrive today.
By the end of the fiscal year of 2013 Target had over 1,778 stores in the United States. Target’s presence is very well known throughout the US and it is one of their biggest strengths. They recorded above their top retail competitors in revenues, having a revenue of $73,301 million in 2013. Since Target is so large they have the ability to influence suppliers in prices, which in turn lowers the prices of their products for their customers. Another strength of Target is that it has developed over their years of operation a certain type of differentiation from stores such as Walmart. They do not market their products as always being the lowest price, but instead “affordable yet stylish.” They have launched designer collections, the first being in 2010 by partnering with Liberty of London. Along with designer collections they started allocating space within their store to certain boutiques to give their store that upscale look and feel. Target’s biggest opportunity laying in front of them is their food and grocery segment of the sore. Along with that they can see great increases in revenue by expanding their e-commerce site target.com. Target’s biggest threat is the ever growing online market. Products are being bought more online as time goes on. Along with online competition, Walmart and Target has seen their number of price wars on the same product. Target very rarely benefits from this type of action. Amazon has been on top of the industry in selling products online and with rising labor wages this is only hurting
“Upon investigation of what really went wrong, the FireEye security system they use showed that the warnings had been there all along, meaning the security team in Bangalore missed them, or chose to ignore them” (Marks, 2014). During the time of the year when people are doing the most shopping is not when companies should be negligent about information systems security. Once there was the smallest bit of concern, Target’s upper management should have been made aware of the situation. This could have helped them prevent the data breach, but unfortunately it was too late.
Based on the video, nearly 40 million customers debit and credit cards information were stolen from customers who shopped at Target. Did the company presented in the video allow a breach of security based on the laws and ideas discussed in the text? Yes, the company presented in the video allowed a breach of security based on the laws and ideas discussed in the text. The company was very unknowledgeable of the fact that the security of their systems has been breached ignoring warnings and signs. Target failed to obey in taking actions against internet security. Their lack of worry made it not difficult for hackers to breach in Targets secluded files. I believe that when Target received the signs they should have reacted right then and there.
LeRoux, Yves. "Privacy concerns in the digital world." 03 Oct 2013. Computer Weekly. 24 April 2014 .
The protection of consumer privacy in e-business. The digital era has arrived. Blue Book information editorial board and Social Science Literature Publishing House (2010) pointed out that “China's e-commerce transaction volume reached 3.85 trillion yuan in 2009”. Utilisation of e-business services was also high amongst Hong Kong people.
Target is the second largest retailer and a well recognized brick and mortar discount retail store. Target faces the same issues that other retailer such Best Buy and Barnes and Noble and that is show-rooming. Show-rooming is where customers view a product in the store then search for a better price online for the exact product or comparable product. Target struggles to compete in a continuously growing online only business market such as Amazon.