Research Project: Choice Of Business Form Prompt Sample College Essay

Abstract

Everyone’s drive to achieve economic success depends heavily on businesses. Every wealthy individual around the globe relies on businesses for personal wealth acquisition. Therefore such have made it necessary for people who want to succeed in business to possess a solid understanding of the various business forms in the world. Entrepreneurship presents Christians with a variety of obstacles that put their morality and Christian ideals to the experiment. People may notice things instantly in the civilized era. Thus, the future Christian corporate strategy may only sometimes reflect the people’s Christian corporate ethical and moral standards. While numerous company entrepreneurs aim to run respective companies according to moral codes, the majority would probably accept that preserving Christian beliefs might be damaging to these businesses. Therefore based on the case of Devon, Carl, Bill, and Alex, this paper will provide a deeper analysis of the various business forms, recommend an ideal form and provide a Christianity perspective regarding the business forms.

Recommended Form Of Business Organization

Currently, Xavier is running the Joint Stock Company as a sole proprietorship. However, a different form of business, like a corporation or a limited liability company, would be better than a sole proprietorship. Therefore Joint Stock Company should take the form of a limited liability company since, through such a form since all the interested parties will benefit. Being that Devon, Carl, Bill, and Alex are interested in the evasion of personal liability relating to this business through payment of taxes, then this is the best form of business that these individuals should take. Thus they will be able to retain the business in the family while still running it successfully and also the farm will be in safe hands.

Limited Liability Company

A limited liability company is among eh best forms of business to pick, especially in cases whereby the business owners do not want the liabilities of the company to affect them. Such is because the liability of the company only touches the members of such companies’ contributions. Credentialed professionals, including physicians and attorneys, frequently adopt limited liability companies (Mancuso, 2019). Likewise, the assets of the owners of the business and those of the company are separate (Beaudrot Jr & Houghton, 1993). When the company undergoes difficulty to the extent whereby the company owes the creditors, the owners of the company are safe since these creditors will only make claims from the company.

Similarly, setting up a limited liability company is often very easy and, therefore, will be a better option for these individuals since it will be manageable. The authorities are subsequently notified and provided with written incorporation documents to fill these documents. The limited liability company’s members’ entitlements, responsibilities, and all other obligations are outlined in these articles. The paperwork also includes information such as the statement of purpose for the firm, the information regarding the identity of the registrant, and the identities and residences of the owners of the company. The state then receives the fee and this documentation, and for the owners to get an employer number, they need to do extra documentation, and payments should always be filed.

The limited liability company is also secure in the absence of the actual owner since the owner can appoint a trusted person to conduct the operations of the company, and such might go on even if the owner of the company dies. The people the owners appoint to engage in the company’s management are thus referred to as the directors. When the owners decide to have such control, they can return it from the appointed directors. In addition to lacking legal constraints, limited liability companies are in addition harder to obtain additional financing than corporations due to their greater reputation, and profit preservation is dependent on the firm’s growth strategy. Limited liability companies blend their members’ limited liability with solid legal freedom regarding the company administration and members’ relations (Gomtsian, 2015). The good characteristics found in corporations and partnerships are found in Limited Liability Companies, which are not incorporated. Limited liability companies were designed to give benefits of flow through a tax which is present in partnerships (Bosko, 1993). Therefore these owners will be saved by such a form of business from paying taxes since this form of business does not have double taxable in that these owners only have to provide personal taxation from their attained profits instead of also filing returns on a business and personal level. Limited liability companies work following the law and meet tax obligations following the rules (Fernando, 2022). These individuals who will now be the owners of this business will also enjoy flexibility in the management of this firm when they regard the business as a limited liability company. Also, a Limited Liability Company lacks double taxation, which will be beneficial to the owners, i.e., Devon, Carl, Bill, and Alex.

Advantages Of Limited Liability Companies

A limited liability company is better placed since it gains flexibility from the fact that it has a wide range of taxation to select and use, which can belong to other forms of business like partnerships and corporations or sole proprietorships. Through such, the company has an advantage since the government can perceive the company’s income as those of the owners of the company, which therefore provides the company’s owners with the obstacle of double taxation.

Additionally, a limited liability company has provisions that provide its owners with proper protection. Such protection arises from the fact that such companies possess limited liability status, separating the company from its owners since it becomes an independent legal entity. Thus through such, no personal liability arising from the company can reach the owners of the company. Thus the company has to personally handle its liabilities and issues without affecting the financial standing of the owners. Also, the owners of the company have an advantage since they can obtain money from the company through checks during times when the company has enough money, and the profits that the company gets can get distributed among the owners as per the preferences of the owners.

Disadvantages Of Limited Liability Companies

The ownership of a limited liability company is frequently more difficult to change or shift from one owner to another than a corporation’s. The businesses may dispose of stock to expand ownership while barring restrictive shareholder agreements. Thus the shareholders may dispose of shares to other people like third parties. In a limited liability company, changes in the number of members of the company or having more members have to pass through the approval of all the members of the company unless there is a common agreement among the members.

Even though the owners are better placed, the director responsible for the daily company operations suffers to some extent since such an individual receives the company’s profits, which the members regard as income which thus means that the government taxes such money. Therefore such an individual gets less money from the profits since the taxation rates may need to be fairer. Also, sole proprietorship tax has to be paid by such an individual, and such tax does not apply to the owners whom the government assumes are not active in the company (Todd, 2011). The business structure of a Limited Liability Corporation makes it difficult to obtain dependable finance. Comparatively to corporations, banking firms can become reluctant to provide financing to businesses that operate as Limited Liability Companies. Numerous lending agencies can view such a corporation as lacking financial solidity or not being serious as it needs to have professionalism. Placing their cash in these companies might be dangerous for these lending companies.

Partnership

The word Partnership is going through rebirth (Merchant, 2000). A partnership is a business structure in which more than two people operate in equal administration of the company and also share the losses or profits of the company equally. The owners of partnership businesses are subject to unrestricted individual liability for various company decisions. These owners also have contributed their personal financial resources and expertise to the company. They, therefore, have to distribute the company’s losses and profits equally. The responsibility of a limited partner is in the sum of money they put into the company; after those money has been distributed, such a partner holds no other responsibility for anything else related to the company. Another significant member of a partnership company is a general partner who possesses unlimited liability in the company and also is active in the management of the company.

The existence of a partnership is based on the agreement between the owners who can therefore have either verbal or written agreements which indicate the conception of the company. The Partnership Act of 1932 provides safeguards to the agreement between the owners to establish a partnership company. The requirements by the Partnership Act 1932 on whether a partnership company exists is that the owners must have established the company by having a contract. Also, the company has to be existent and engage in legal businesses. Therefore agreements are necessary in partnerships, and thus there is equal distribution of losses and profits among the partners in cases where there is no agreement between these partners. The partners have the right to control and manage the company. Also, the interests are not transferrable, which means that the shares cannot be shifted or given to another person by a partner since such would mean that the person receiving these shares will become a new partner. However, other partners have to approve such actions. The partners should have a partnership deed to initiate a partnership. As per the Partnership Act, these partners can register their partnership if they have such a document. Therefore, the banks and other financing institutions perceive partnerships differently, which therefore makes it easier for these partnerships to get funding and financial assistance from these institutions.

Advantages Of Partnerships

Partnerships can easily get capital as compared to other business forms, and such is true since partnerships may get loans and financial assistance easily from lending institutions like banks. Also, partnerships have more specialization since this type of company is run and managed by many people with varying skills and expertise, who can also result in the better success of the partnership. Moreover, partnerships do not have situations of double taxation where the government first taxes the money of the company before again taxing the partners through individual taxation. Also, the partnership founders who invested capital in launching a company are paid via capital interest, making them eligible for interest. In contrast, quasi-founders provide the solutions that, ideally, would lead to the company’s continued prosperity.

Disadvantages Of Partnerships

Even though a partnership may seem good, it presents various areas for improvement, like the possibility of termination of the partnership when one of the significant partners dies, thus limiting the continuity of a partnership. Also, unlimited personal liability is possessed by the general partners regarding the partnership obligations. Therefore in cases of bankruptcy of the partnership company, the partners can be pursued and approached by the creditors of the company because of the company’s obligations.

Corporations

When the investors get stock, it becomes the initiation of a legal corporation, and therefore, the corporation’s owners become these investors, i.e., shareholders. Corporations can either be public or private, with the initial referring to a government-established corporation that has the government-related responsibility of law administration. On the other hand, when private individuals create a corporation, it becomes a private corporation that is focused on the goals of these individuals. Corporations can also be nonprofit or profit corporations with the initial focus on business activities. However, the profits it achieves may not be shared or distributed to eh shareholders of the company. Profit corporations exist to generate profits.

Advantages Of Corporations

The shareholders of these corporations possess limited liability, and the owners of such companies can give out stock, thus subsequently getting capital for the business.

 Disadvantages Of Corporations

There is double taxation of the income made by the corporation, and there are many regulations to be followed by the owners of corporations to maintain or start such corporations.

Christian Worldview

The ideal choice of business form from the viewpoint of Christianity may not be a limited liability company despite the business perspective preferring the limited liability company.it is always challenging for Christians in the business world to create a distinction between the business and the Christian world. Ideally, Christians always aim to ensure that they exercise morality when mixing business and Christianity worlds (Kim et al., 2012). From time to time, Christians always go through challenges when attempting to attain such a balance between these two distinct worlds since Christians depend on businesses and occupations as sources of their livelihoods and to get their daily bread. Therefore such places these Christians in compromising situations whereby they may end up engaging in immoral activities or losing their moral touch as they navigate through their daily lives. Consequently, Christians should place their trust and hope in God as their source of livelihood so that their needs may be satisfied by God, and they should not, therefore, place full dependability on other people to satisfy these needs. God provides for all the living organisms in the world, and that does not exclude human beings or Christians since even birds get fed by God.

Therefore Devon, Carl, Bill, and Alex should make a solid decision and choice on which form of business to adopt and ensure that such a business form resonates with the ideal lifestyle of Christians in Christianity. Such is because some of the features of a limited liability company, like tax avoidance, may be better for the Christian faith since it does not promote morality. Therefore, Devon, Carl, Bill, and Alex need to take carefully consideration of the above information so that they may choose the best business form which also best applies to them as Christians and promotes Christian beliefs and faith.

Conclusion

From the above analysis and evaluation, it is apparent that Devon, Carl, Bill, and Alex should choose a limited liability company since it safeguards them and satisfies their needs of not wanting liability related to the company. Also, the best business form from a Christianity perspective may not be a limited liability company. Therefore Devon, Carl, Bill, and Alex have to select one of the business forms provided in this paper that provides a strong foundation of their Christianity morals and also supports the business aspect.

References

Beaudrot Jr, C. R., & Houghton, K. (1993). Effective Use of Limited Liability Companies in Georgia: An Overview of Their Characteristics and Advantages. Mercer L. Rev., 45, 25.

Bosko, M. (1993). The Best of Both Worlds: The Limited Liability Company. Ohio St. LJ, 54, 175.

Fernando, J. (2022, July 31). What is an LLC? limited liability company structure and benefits defined. Investopedia. Retrieved March 27, 2023, from https://www.investopedia.com/terms/l/llc.asp

Gomtsian, S. (2015). The governance of publicly traded limited liability companies. Del. J. Corp. L., 40, 207.

Kim, D., McCalman, D., & Fisher, D. (2012). The sacred/secular divide and the Christian worldview. Journal of Business Ethics, 109, 203-208.

Mancuso, A. (2021). Form your own limited liability company: create an LLC in any state. Nolo.

Merchant, C. (2000). Partnership ethics: Business and the environment. The Ruffin Series of the Society for Business Ethics, 2, 7-18.

Schwidetzky, W. D. (2008). Integrating subchapters K and S-just do it. Tax Law., 62, 749.

Respiratory System Diseases Sample Assignment

Bronchiolitis

It is a condition characterized by the inflammation of the bronchioles due to a viral illness. It is common among children under two years and a main cause of respiratory distress in this population. Though the condition is viral, it is common during the winter months.

Pathophysiology and Clinical Presentation

Outbreaks of this condition are linked to a respiratory syncytial virus that causes “inflammation of the lining of the epithelial cells of the small airways in the lungs causing mucus production” (Erickson et al., 2023). One of the most significant clinical presentations is wheezing associated with the inflammation of these cells obstructing the airway hence, the wheezing. The patient will also manifest symptoms like a running nose, reduced appetite, and cough for over three days. Further, they may present nasal congestion, which is linked to the increased production of mucus hence, the congestion. Since the obstruction happens to the tinniest air passages, their blockage can cause shortness of breath and skin discoloration due to a lack of oxygen that warrants emergency treatment. Other clinical manifestations include fever, fatigue, and tachypnea.

Physical Examination and Diagnostic Testing

Physical examination entails listening to the patient’s breathing, where wheezing or abnormality of the lungs can be heard with a stethoscope. The symptoms presented are important physical aspects of the condition, which should be combined with the patient’s medical history. However, this may not be enough to confirm the diagnosis fully; therefore, diagnostic tests like immunofluorescent and enzyme immunoassay techniques should be employed. The two detect any viruses in the patient’s nasopharyngeal specimen because the condition is associated with viral infections (Silver & Nazif, 2019).

Pharmacological and Non-pharmacological Management.

Management of bronchiolitis aims at reducing the possibility of low oxygen in the body or pauses in breathing, especially in infants, which could be fatal. Also, the treatment’s primary focus is relieving symptoms, such as difficulty breathing. The first line of pharmacological treatment is the administration of antibiotics to fight the associated infection. However, Erickson et al. (2023) establish that they should be used when there is another infection on top of bronchiolitis in infants. Further, palivizumab prophylaxis is available to infants at risk, e.g., those born before 29 weeks or who have a chronic lung or heart disease, among other qualifications. In most cases, especially for infants, non-pharmacological management is preferred unless the condition is severe. This includes saline solutions to clear the excess mucus or suction. Insistence on hydration is essential, and close monitoring of the symptoms is vital in managing the condition.

Education /Health Promotion

Patients should be educated on the importance of keeping infants away from people with symptoms of a cough that increases their risk of bronchiolitis. Further, patients should hydrate regularly for effective recovery because the condition reduces appetite and causes fever. It is also important for the caregivers to ensure that the infants are in a humid room which can lighten the excess mucus and reduce obstructions. In this case, patient education aims to ensure close monitoring and reporting of any changes or worsening of the condition, e.g., skin discoloration due to less oxygen.

Need for Referral and Differential Diagnosis

When the condition affects babies involving a pediatrician is necessary; however, the condition is easily manageable by a general practitioner. Bronchiolitis can easily be mistaken for gastroesophageal reflux disease, asthma, and aspiration of a foreign body since it affects the respiratory system.

Pneumonia

This condition is characterized by an infection in the lungs caused by bacteria, fungi, and viruses, causing a build-up of fluids or pus in the alveoli. This condition can happen to both lungs or one, with bacterial pneumonia being the most severe, with approximately one million people being diagnosed with different kinds of pneumonia yearly.

Pathophysiology and Clinical Presentation

The condition compromises the exchange of gases in the alveoli and happens when the immune system is jeopardized. Jain et al. (2022) explain that within the lungs exist organisms at a perfect balance with the body’s immunity that protects the body against foreign organisms. However, when the resident organisms are compromised, the body’s responses cause an inflammatory condition that compromises the lungs. Therefore, some of the clinical presentations of this condition include trouble breathing as the exchange of gases is compromised. Fever with chills, loss of appetite, chest pain, a cough which may produce phlegm or dry cough, and generally feeling unwell.

Physical Examination and Diagnostic Testing

Physical examination involves the clinician asking questions about the symptoms experienced, including the duration of the cough or chest pain that worsens when breathing in or out. Further, with a stethoscope, the clinician will listen to the chest for differences in breathing. Also, they may tap lighting at the chest where compromised lungs, especially one with fluid, sound different.

Pneumonia shares symptoms with other respiratory conditions, thus the need for further diagnosis, including a chest x-ray for inflammation of the lungs. This can show any abnormalities in the chest, including pneumonia-associated infection. Pulse oximetry is a blood test that measures the amount of oxygen n the blood (NHLBI, 2022).

Pharmacological and Non-pharmacological Management

Pharmacological treatment depends on the causative factor making antibiotics, antiviral and antifungal drugs the first-line treatment. Jain et al. (2022) argue that when there is no underlying condition, an individual should respond effectively to pharmacological treatment; however, people with compromised immunity are at risk of complications, including a lung abscess. Non-pharmacological treatment addresses the signs, but plenty of rest and frequent hydration is necessary. Hydration is necessary to keep up the body fluids, especially with a reduced appetite.

Education/ Health Promotion

Patients with pneumonia should rest until they feel better because somebody’s activities require more oxygen, thus, straining the lungs. Smoking worsens the condition; thus, smoking cessation is mandatory for quick and healthy recovery. Diets with high proteins, like white meat, have anti-inflammatory properties that can help with the condition. Also, ensuring the patient is hydrated may include small amounts of fluids frequently. Using a humidifier helps open up the airways that are filled with fluids (NHLBI, 2022). Medication adherence is essential because bacteria that are not effectively eliminated may become resistant and recurrent, complicating future treatment. Reducing exposure to people with flu-like conditions or covering one’s mouth when sneezing may be a health promotion measure.

Need for a Referral and Differential Diagnosis

The need for a pulmonologist occurs when the patient has other conditions like asthma to ensure proper handling of both conditions. In severe cases of pneumonia, one needs to be treated in the hospital. Differential pneumonia diagnoses include COPD, pulmonary embolism, bronchiolitis, and other respiratory conditions.

Pleural Effusion

This condition is characterized by fluid build-up in the space between the lungs and the chest cavity. This condition is often caused by heart failure, cancer, or leakage into the cavity, interfering with normal breathing by reducing the capacity of the lung.

Pathophysiology and Clinical Presentation

Krishna et al. (2023) explain that the pleural cavity normally has minimal fluid necessary for the lubrication of the lungs and chest cavity. The hydrostatic pressure regulates this fluid, and any excess is absorbed into the lymphatic system. The excess occurs when the hydrostatic pressure or the absorption process is compromised, hence the accumulation. This situation presents itself in chest pain, especially during a cough which is also a symptom. The individual experiences shortness of breath or fever.

Physical examination and diagnostic testing

Through a light tap to the chest may indicate the presence of fluids in the lungs. Using a stethoscope, the clinician can listen to the difficulties in breathing. Further diagnosis is important where a chest CT or an x-ray are the golden standard tests as they present images of the lung situation. Jany & Welte (2019) highlight that fluid analysis is necessary to check the condition of the fluids, especially for infections or cancer. Also, patients with pneumonia, in addition to pleural effusion, are at increased mortality.

Pharmacological and non-pharmacological management

The goal of treatment is to ensure the proper functioning of the lungs by bringing the fluid to normal levels. Treatment depends on the underlying cause, where severe cases mandate a manual draining of the excess using a chest tube and antibiotics. Non-pharmacological management involves treating the symptoms where rest is most recommended to reduce straining the lungs, causing chest pain and coughs.

Education/ Health Promotion

The patient needs to have plenty of rest and avoid physical activities that strain the lungs through increased oxygen demand. The fluid may interfere with breathing, with the patient taking shallow breaths to avoid pain. Therefore, deep breathing exercise is important to ensure normal breathing. Smoking may interfere with the healing process or worsen the conditions; thus, smoking cessation is mandatory.

Need for Referral and Differential Diagnosis

A pulmonologist may be involved in severe cases, or when under other conditions like cancer or heart disease are involved. The differential diagnosis for pleural effusion includes pneumonia, atelectasis, injury to the diaphragm or congestive heart failure, diaphragmatic paralysis, or mesothelioma.

References

Erickson EN, Bhakta RT, & Mendez MD (2023). Pediatric Bronchiolitis. StatPearls Publishing; https://www.ncbi.nlm.nih.gov/books/NBK519506/

Jain V, Vashisht R, Yilmaz G, et al. (2022). Pneumonia Pathology. StatPearls Publishing; https://www.ncbi.nlm.nih.gov/books/NBK526116/

Jany, B., & Welte, T. (2019). Pleural effusion in adults—etiology, diagnosis, and treatment. Deutsches Ärzteblatt International, 116(21), 377. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6647819/

Krishna R, Antoine MH, & Rudrappa M (2023). Pleural Effusion. Treasure Island (FL): StatPearls Publishing: https://www.ncbi.nlm.nih.gov/books/NBK448189/

National Heart, Lung and Blood Institute (2022). What is Pneumonia? https://www.nhlbi.nih.gov/health/pneumonia

Silver, A. H., & Nazif, J. M. (2019). Bronchiolitis. Pediatrics in review, 40(11), 568-576. https://renaissance.stonybrookmedicine.edu/system/files/AcuteBronchiolitis.pdf

Essay On Cybersecurity Metrics Free Essay

Executive Summary

When a request for proposal (RFP) was received from a Fortune 500 CFO, GrowMyMoney.com did not have a security metrics program in place. As a result, the company went bankrupt and lost a lot of money. To address this issue, the corporation has appointed a new Chief Information Security Officer (CISO) to work with the organization on developing a security metrics program.

The program aims to clarify security metrics, their need, and how they may be applied. In addition, key performance indicators (KPIs) should be created to monitor success. A security metrics measurement plan with metric thresholds and follow-up actions should be devised if metrics not be reached (Ramos et al., 2017).

The program’s security metrics should prioritize the protection of consumer financial and data information, as well as the prevention of illegal access, data theft, and other security concerns. The program should also ensure that industry standards and laws are followed.

Metrics such as password strength, user access control, and data encryption should be included in the program to assess the success of the security controls and processes in place. It should also assess the ability to detect and respond to security risks in real time and the efficacy of security awareness and training initiatives (Onwubiko et al., 2020).

The security metrics program should also include key performance indicators (KPIs) to monitor the program’s effectiveness, such as the proportion of significant attacks, the number of cybersecurity threats, and the time to respond to incidents. Furthermore, the application should track the cost of security events as well as the rate of the authentication process.

The security metrics measurement plan should include metric thresholds and follow-up actions. These metrics thresholds should be created based on the selected KPIs and regularly evaluated and updated. A reporting system should be included in the security metrics program to guarantee that the program is being implemented appropriately and successfully. Furthermore, the program should contain a feedback and evaluation system to guarantee that the program’s objectives are met (Ahmed et al., 2019).

GrowMyMoney.com can efficiently secure client data, financial information, and other security risks by creating a security metrics program. It will also help the organization measure and monitor the efficiency of its security controls and processes and assure conformity with regulatory and industry norms.

Definition and Explanation

Measuring the effectiveness of security measures and processes such as password complexity, user access control, and encryption keys is the ‘what’ of security metrics. It also assesses the ability to recognize and respond to safety risks in a timely way, as well as the effectiveness of security knowledge and training programs.

The purpose of security metrics is to safeguard client data and financial information and avoid unauthorized access, data theft, and other security concerns. It also ensures adherence to industry norms and laws.

The ‘how’ of security metrics is to create key performance indicators (KPIs) that will be used to monitor the program’s effectiveness, such as the proportion of successful attacks, the number of information security, and the time to respond to incidents (Ramos et al., 2017). Furthermore, the application should track the cost of security events and the rate of successful authentication. The program should also contain a system for reporting and feedback, as well as metric thresholds and follow-up actions if the metrics are not fulfilled.

Program Creation

GrowMyMoney.com Program for Security Metrics

GrowMyMoney.com can efficiently secure client data, financial information, and other security risks by creating a security metrics program. It will also help the organization measure and monitor the efficiency of its security controls and processes and assure compliance with industry standards and regulations (Onwubiko et al., 2020).

Step 1: Identify Metrics

Metrics such as password complexity, user access control, and data encryption should be included in the program to assess the success of the security controls and processes in place. It should also assess the capability to identify and respond to security risks in real time and the efficacy of security awareness and training initiatives.

Step 2: Identify KPIs

The security metrics program should also include key performance indicators (KPIs) to monitor the program’s effectiveness, such as the proportion of cyberattacks, the number of security incidents, and the time to respond to incidents (Arabsorkhi et al., 2018). Furthermore, the application should track the cost of security events and the rate of successful authentication.

Step 3: Establish Metric Thresholds

The security metrics measurement plan should include metric thresholds and follow-up actions. These metrics thresholds should be created based on the selected KPIs and regularly evaluated and updated.

Step 4: Create a Reporting System

The security metrics program should include a reporting system to guarantee that the plan is implemented appropriately and successfully. Furthermore, the program should contain a feedback and evaluation system to guarantee that the program’s objectives are met.

Step 5: Establish Metric Reporting System

The security metrics program should include processes for collecting metrics in a timely and reliable manner. Automated processes should be used, and manual processes should be used when necessary.

Step 6: Implement a Metric Analysis Procedure

The security metrics program should include processes for analyzing metrics and identifying areas of concern. Automated processes should be used, and manual processes should be used when necessary.

Step 7: Implement a Metric Reporting Procedure

The security metrics program should include processes for reporting metrics to management and stakeholders. Automated processes should be used, and manual processes should be used when necessary.

Step 8: Assess and Monitor

To ensure that the program is effective and accomplishes its objectives, the security metrics program should contain methods for evaluating and monitoring the metrics. Automated processes should be used, and manual processes should be used when necessary.

Metric Measurements

The security metrics program should have an execution method to measure each KPI. This procedure, which should be reviewed and updated on a regular basis, must encompass the people, processes, and technology required to measure the metric. To quantify the percentage of successful attacks, the software should have an execution mechanism for detecting and responding to security threats on time. This approach should be reviewed and updated regularly and include the people, processes, and technology required to detect and respond to threats (Ahmed et al., 2019).

The program should also contain a feedback and evaluation system to verify that the program’s objectives are satisfied. The feedback and review process should include the people, methods, and technology required to analyze and monitor the metrics to ensure that the program is effective and accomplishes its objectives. If a metric goes below the stated threshold, the program should incorporate a system of follow-up actions (Arabsorkhi et al., 2018). These steps should include the people, processes, and technology required to address the problem and return the measure to the stated threshold.

Conclusion

GrowMyMoney.com will efficiently safeguard client data, financial information, and other security risks by creating a thorough security metrics program. It will also help the organization measure and monitor the efficiency of its security controls and processes and assure compliance with industry standards and regulations. This program will assist the organization in better understanding the effectiveness of its security controls and processes and responding to any security concerns quickly and effectively.

Work Cited

Ramos, Alex, et al. “Model-based quantitative network security metrics: A survey.” IEEE Communications Surveys & Tutorials 19.4 (2017): 2704–2734.

Ahmed, Yussuf, Syed Naqvi, and Mark Josephs. “Cybersecurity metrics for enhanced protection of healthcare IT systems.” 2019 13th International Symposium on Medical Information and Communication Technology (ISMICT). IEEE, 2019.

Onwubiko, Cyril, and Karim Ouazzane. “SOTER: A playbook for cybersecurity incident management.” IEEE Transactions on Engineering Management 69.6 (2020): 3771-3791.

Arabsorkhi, Abouzar, and Fariba Ghaffari. “Security metrics: principles and security assessment methods.” 2018 9th International Symposium on Telecommunications (IST). IEEE, 2018