Knowledge security risk management in contemporary companies – toward a proactive approach
With the emergence of the organizational knowledge system, knowledge security risks receive very less attention. The different proactive process for managing the knowledge security risks needs wide attention in information and knowledge security. The increasing use of social media, the process of knowledge management in contemporary organization is becoming less costly (Ilvonen et al., 2015). Therefore, it is essential to understand the types of potential risks associated with the flow of information and knowledge, which many organization lack. The risks associated with the social media based knowledge environments are commonly neglected, which can act as a significant risk for the company.
This paper discusses knowledge as an intangible asset, which is created, shared and held by people. Knowledge is valuable for a person who possess it. However, if used efficiently it can create value to an organization. This can be done by sharing the knowledge among the employees for creating innovative product, processes and services. Therefore, knowledge can be considered as a key asset to a company and therefore proper security measures are essential to be implemented. Since the knowledge can be considered as a dynamic asset, the knowledge is needed to be secured with dynamicity (Ilvonen et al., 2015).
The knowledge security risks include privacy invasion, loss of control, online threats, image damage, industrial espionage and weak privacy settings. These threats may result in loss of control of knowledge that may incur an adverse effect in the organization.
Therefore, proper risk management strategy is needed to be implemented for proper security. The risk management phases include asset or risk identification, risk analysis, risk reduction and monitoring the risks. The paper discusses the KSRM process of risk management which includes different phases such as identifying the business need and the problem, identification of knowledge, identifying the vulnerabilities and the threat agents, identified risk analysis, cost benefit analysis, risk mitigation and monitoring the risk (Ilvonen et al., 2015).
The field of knowledge security is relatively new and therefore, managing the knowledge security risks can be a challenge. The KSRM model provides a proactive approach in securing the knowledge. This model helps to evaluate the importance of knowledge in an organization and how it should be shared among its employees.
Ilvonen, I., Jussila, J., Kärkkäinen, H., & Päivärinta, T. (2015, January). Knowledge Security Risk Management in Contemporary Companies--Toward a Proactive Approach. In System Sciences (HICSS), 2015 48th Hawaii International Conference on (pp. 3941-3950). IEEE.