ipl-logo

How Does Target's System Affect Personal Information Breach?

552 Words3 Pages

Near Black Friday in 2013, many people remember when Target’s systems were hacked into and many people got their personal information stolen. Thi was known as one of the biggest retail hacks in history. Their systems malware programs could not detect the breach which led to many resulting consequences. Within the many affected Target stores, they used a system called “pin-and-chip”. This system prevents scandalous activities from occurring once detected. This system at the time of the incident did not recognize the hacker’s software, therefore resulting in many credit and debit card numbers being stolen. This incident with Target caused their stock market to fall rapidly. It reached a record low of a -2.16% which is equivalent to roughly losing 20 million dollars. With this, many …show more content…

Their revenues decreased rapidly in the following year and they have just began to see an increase in their profits since the data breach. This shows that the brand’s perception fell by the wayside and many people shopped elsewhere. With the cut in profits, they had to lay off a lot of employees because they did not have enough funds to pay all of their employers. Therefore, Target had less personnel due to the data breach. The company did spend a lot of money, however on trying to get their systems back up and running and they tried to get the best security upgrade possible. Within the company, the CISO is the chief information security officer and during this cyberattack the CISO left the company. They hired a new CISO for the position because

Show More
Related
367 Words | 2 Pages

The Target Corporation as it is known today grew out of a small dry goods store that is known for giving back. Target grew in a retail research company that then expanded into a commercial business. Target had grown out of the Dayton-Hudson Corporation and became its biggest source of revenue. When the company was renamed to Target its focus was on helping the environment and education and making sure they were giving back. With this company in partial its main focus today has not changed and with it being one of the top retailers in the United States they can really make the difference.

Read More
866 Words | 4 Pages

The reason for this decline may be because of its newest competitor, Amazon. Online retailers have became much more popular in recent years, and Target is starting to lose one of the few remaining competitive advantages that they had (Lam 2017). It also may have declined based on the boycott initiated by customers for political reasons. There was a lot of controversy around Target’s new bathroom policy that was implemented for transgender individuals. There has been a report that revenue has diminished, because they thought Target was becoming too “political”, and they decided to shop in other department stores (Steward

Read More
1175 Words | 5 Pages

Due to new technology and online purchasing, the way in which Target does business has changed dramatically. Consumers have changed their preferences on buying. Sitting on our couch and buying online while we watch our favorite T.V. show, is easier and cheaper than having

Read More
655 Words | 3 Pages

In fact, Target’s stores operated in Canada for a period shorter than two years. In mid January 2015, the company announced that it had plans to close down its stores in Canada (Dahlhoff, 2015). Although customer opinions varied on the company’s stores’ closure, the truth behind the closure was that the management failed to uphold several principles of project management.

Read More
134 Words | 1 Pages

I think the Circle’s concept and use of TruYouevokes a wonder in the reader because the system’s operations almost seem too good to be true. The ability to have one password and login for everything would be extremely helpful for me personally. I immediately thought of credit card hacking, like the large scale Target controversy, when I read about the hacking that TruYou Sarah ChristopherUNIV 1150supposedly eliminated. This book has influenced my perspective in the way of caution. Very much like George Orwell’s 1984, this book makes question of government, identity, and privacy.

Read More
1029 Words | 5 Pages

I believe the cyber-attack on Target was handled with a great respect to their customers. It was said that the attack was a sophisticated attack, and that no retailer would have suspected anything like what happened to happen (Kinicki & Williams, 2016). The CEO Greg Steinhafel was faced with some very hard decisions to make after the cyber-attack happened. He released a statement that told the actual number of customers that were affected by the attack. Mr. Steinhafel had some push back from his executive team advising him not to tell how many people were affected, but he went ahead and released the statement anyway.

Read More
1707 Words | 7 Pages

Was cyber security a priority at Target? Explain. Cyber security issues information is essential for business pioneers and those going to class to win a business degree. In the most recent time, government, monetary, media, and retail outlets have all gone under assault from cyber criminals.

Read More
1172 Words | 5 Pages

Target has over 1,700 locations as of 2016 and it has 341,000 employees. This retail company offers clothing and accessories, beauty and health products, electronic, furniture, food, gardening and pet supplies, toys, appliances, and more. TASK 1A (P1.1) Target Corporation is a public company. This type of organization means that Target has the permission to sell its registered securities

Read More
908 Words | 4 Pages

In order for Target to keep customer satisfaction high, they need to keep the number customer being injured or harmed inside the store to a minimum. They also need to make sure the products it sells inside their stores do not harm customers. This risk management work will lay the foundation for the risk evaluation of new products being sold inside the store. Target will also create a process to respond to alerts from manufacturers that there is a potential risk to customer

Read More
884 Words | 4 Pages

Risk events at Target stores can be very damaging to the business. Violence at a Target store can manifest in a number of scenarios resulting in a loss. Even though most retail stores locations rely heavily on the local authorities to respond and provide an immediate resolution to violent incidents at the Target stores, it is important for the risk management team at the organization to have a plan for prevention and mitigation of these incidents (Pearson, 2005). When there is a violent incident at a store location, losses associated with this incident will not only affect the store where the incident occured but it will affect the entire organization. The losses are not only financial but there will be a decrease in employee job satisfaction

Read More
1374 Words | 6 Pages

retail stores more than doubled from 2013 to an annual average of $8.6 million per company in 2014. The annual average cost per company of successful cyber attacks increased to $20.8 million in financial services, $14.5 million in the technology sector, and $12.7 million in communications industries. ”(Riley Walters – The Heritage Foundation). Typically hackers will sneak into a system, attach their program to the host network and turn them into “Slave Networks” allowing the hacker to do as he/ she

Read More
843 Words | 4 Pages

In addition, Target has credit card machine with chip reader which protect the personal information of the customer effectively. Target also invest in the delivery truck for membership that they can receive their goods and services faster. The disadvantage of Target is an area of premises which are not too wide to display and purchase plant like

Read More
2091 Words | 9 Pages

Since Target Corporation is accessible in different places around the world, changes in rules and regulations of different countries it operates might impact on Target’s performance. It may also cause additional costs and expenses. this is associated especially to health, security and business laws. On social environment, Target annually do volunteering. They have a Target Books for School Award which allows them to give away $500 worth of books to local

Read More
1269 Words | 6 Pages

The authors’ primary message in this article is that Yahoo recently disclosed that a cybersecurity attack in 2013 compromised over one billion user accounts. The authors’ write that “Yahoo, already reeling from its September disclosure that 500 million user accounts had been hacked in 2014, disclosed

Read More
774 Words | 4 Pages

2. Customers: As the recession hit, unemployment rose and people started becoming more responsible with money, the consumer priority changed. Since Target was known for style, fashionable in slightly higher price, in the end, they hurt themselves. Target should have done a lot better of a job in providing customer

Read More

More about How Does Target's System Affect Personal Information Breach?

Related Topics

Open Document