HI7002 IS Governance, Security and Ethics Report Sample

HI7002 IS Governance, Security and Ethics Report

Objective:

This assignment requires you to perform an in-depth critique and conduct a thorough literature review on a topic concerning governance, compliance, risk, and security issues in information systems. The specific topic will be assigned by the unit coordinator. Your primary task is to analyze contemporary challenges associated with your topic and propose viable solutions to these issues.

Each group is to select a topic from a list provided. Upon selection, you are expected to critically evaluate and extensively review existing literature related to governance, compliance, risk, and security issues pertinent to the chosen topic in information systems.

Topics to choose from:

1. Data Privacy in the Age of IoT.

2. Cloud Security Governance.

3. AI Ethics and Compliance.

4. Cybersecurity Risk Management in Financial Services.

5. Regulatory Compliance in Healthcare IT Systems.

6. Blockchain for Data Integrity.

7. Remote Work and IS Security.

8. Supply Chain Information Systems.

9. Social Media Governance.

10. Disaster Recovery Planning.

Research paperstructure:

1. Introduction:

Provide an overview of Governance, Compliance, Risk, and Security in Information Systems in the chosen traditional topic. Define the concept of digital transformation and its significance in the context ofthe specific topic. Specify the objectives of the research paper and the structureof the paper.

2. Literature Review:

Conduct a literature review on digital transformation in the chosen topic. Explore scholarly articles, case studies, and topic reportsto identify key trends,challenges, and success factors in digital integration.

3. Discussion:

Discuss the references, and critically analyse them and discuss how they reflect the selected topic. It should reflect the challenges and opportunities for digital transformation in the chosen topic. In the last section of the discussion, propose strategies for overcoming the challenges identified in the chosen topic supported by your review of the literature. Recommend innovative approaches for leveraging digital technologies to achieve strategic objectives. Provide a set of sub- topics recommendations for organizations in the chosen topic to enhance their digital transformation efforts. Develop suitable sub-topics to organize your discussions.

4. Conclusion:

Summarize key findings from the analysis. Emphasize the importance of digital transformation for the chosen topic and its potential impact on future business practices.

5. References:

Include a comprehensive list of references, citing relevant literature, case studies, and topic reports. Reference sources must be cited in the text of the report and listed appropriately at the end in a reference list using Harvard referencing style.

Solution

1. Introduction

1.1 Overview

It is essential to possess governance, compliance, risk and security strategy for keeping a firm secure while using digital technologies and large data volumes (SAP, 2024). This helps in achieving core business goals and abide by values of the firm. It is referred to as GRC strategy where G stands for governance, R is for managing and mitigating risks and C stands for compliance. Firms can integrate their capabilities and strategies of corporate governance, risk management and compliance. This can be used for achieving its desired objectives, operating in the uncertain environment and doing business with integrity. GRC strategy is useful for using proactive approach in managing, minimizing, eradicating and evaluating various financial and legal risks (Joshi, 2023). It helps tracking and reporting of such risks in real-time by automating tasks. This occurs because of having full visibility and management. In addition, other benefits include increase in data privacy, decrease in costs and improved operational efficiency of the firms. GRC framework further helps in coordinating and integrating different processes or systems of a firm to ensure that business operations comply with laws, remain ethical and focus on reducing risks (SAP, 2024). Thus, this has become increasingly important for addressing risks arising from digital transformation.

1.2 Digital Transformation and its Significance

Digital transformation has been experiencing rapid growth with the advent of new technologies, increased internet penetration, firms adopting digitalisation and introduction of cloud technologies and automating business processes. Rising digital transformation spending is expected to reach a value of around US$ 3.9 trillion by the year 2027 (Sherif, 2024). This increased digital transformation has made it important to focus on social media governance as firms now extensively use these platforms. This involves various policies and structure for devising guidelines about social media use, their impacts, monitoring activities and centralization of government (Medaglia & Zheng, 2017, p.499(6)). Social media governance enables public agencies and government to devise various policies regarding use of these platforms, minimizing their negative impact, governing social media activities and ensuring security and privacy of users. This is required for having centralized monitoring and control of social media usage and activities in the business environment.

1.3 Objectives and Structure of Research Paper

The objectives of this research paper are as follows:

• Providing research topic overview

• Conducting literature review

• Critically analysing challenges and opportunities

• Recommending innovative approaches

• Summarizing key findings

The main research paper for MBA assignment expert comprises of five sections, namely, introduction, literature review, discussion, recommendations and conclusion. Introduction chapter has provided brief overview of the research topic of social media governance and key objectives of the paper. Literature review consists of review of various scholarly articles, topic reports and case studies for identifying key trends, challenges and success factors in digital integration. These articles have further been critically analysed followed by identifying challenges and opportunities of social media governance with digital technologies in discussion section. Based on this, the fourth section has provided suitable recommendations to enhance digital transformation efforts. Lastly, key findings have been summarized in conclusion section.

Fig 1: Structure of Research Paper

2. Literature Review

2.1 Digital Transformation and Social Media

Digital transformation has become a necessity for every organisation. It helps in embracing innovation, reducing risks, eliminating complexity in business processes and enhancing user experience. This also helps in providing efficiency, simplicity and transparency (Onețiu, 2020, p.85(2)). Firms are increasingly undergoing digital transformation for better understanding needs and preferences of customers, developing innovative products and services, interacting with employees and improving their experience. In this regard, social media platforms are being used widely across various firms to introduce digitalisation in different processes. They help in providing valuable information to customers, build relationships with them and enhance their knowledge about the brand and its products (Onețiu, 2020, p.87(5)).

Some of the popular social media platforms that firms use for their digital transformation are Facebook, Instagram, Twitter, YouTube and others. This digital transformation encourages firms in using emerging digital technologies for using new working ways. Firms can further use social media here to increase their brand recognition alongside offering valuable product information to prospective customers (Shwetha & Shubha, 2017, p.133(3)). They also gain various benefits like reduced costs from traditional marketing, improving business visibility, improved customer experience and reaching target customers. Thus, digital transformation is becoming easier with the use of social media platforms. However, along with the use of social media and digital transformation, firms are required to emphasise on protecting their data and corporate networks to ensure risk reduction, compliance and governance. Thus, safeguarding the corporate networks and data is essential for preventing malicious acts.

2.2 Importance of Social Media Governance

In the contemporary workplace environment, social media blunders have increased profoundly. These have been generating negative impact on the brand reputation of the firms alongside their returns, profits and share prices (PWC, 2017). Despite its several strategic advantages, failure to control the dissemination and usage of data over these platforms can become expensive and risky for the firms. This has encouraged regulators and policymakers in publishing guidelines regarding the usage of social media across firms in different industries (PWC, 2017). Developing a sound and practical strategy with the help of definite policies or procedures under social media governance can help in managing its potential risks and challenges.

Social media governance has become beneficial for understanding and determining risks associated with the usage of social media. This can be useful for managing such risks of social media incidents and saving brand reputation. For example, around 34% firms experienced cyber-attacks of 11-50 in number while 21% around 1 to 10 in number of social media attacks in the year 2021 (Petrosyan, 2023). This has made it essential for organisations to focus on social media governance for understanding its risks and handling these incidents. It comprises of various systems, structure and procedures for evaluating and planning for reducing these social media risks. Such frameworks can be further strengthened to control social media behaviours of employees alongside protecting their rights and responsibilities in the organisation (van den Berg & Verhoeven, 2017, p.151(3)).

Moreover, firms are adopting social media governance to secure their assets, reduce risks and complying with laws. This governance provides an enterprise-wide framework for reviewing and tracking various customer touchpoints across different social media platforms (Whitler, 2018). Thus, it is essential for keeping their touchpoints accessible, available and operational by controlling them through some set standards.

2.3 Key Trends in Social Media Governance

Social media governance is used for governing content virality like misinformation and hate speech. It also uses algorithms for identifying sources of such false information by tracking address of users. This is because rapid sharing of information and content often leads to misinformation and regulation of hate speech over social media platforms (Kumar & Gupta, 2023, p.9(2)). Algorithmic audience is another issue of social media platforms as it influences users’ perspectives. Besides, source identification is required for searching about misinformation and fake news coming from user accounts. Organizations emphasize on either advancement opportunities or security risks for developing governance policies regarding social media (van den Berg & Verhoeven, 2017, p.151(4)). This social media governance is along being used for shaping behaviours and attitudes of employees displayed through social media for aligning them with the organisational goals, standards and mission. Firms are furtehr deploying more restrictive socila media guidelines so that employees do not post, share or comment anything negative about them (van den Berg & Verhoeven, 2017, p.152(1)). This is because such unwarranted messages can often lead to repuational damage of the firms, thereby causing them loss of potential customers and talented employees. Thus, organisations often possess strict control over social media usage of their employees. Moreover, firms can also have guidelines for governing its social media marketing activities (Felix, Rauschnabel & Hinsch, 2017, p.121(9)). This helps in establishing rules about whom to contact and interact over the social media platforms.

2.4 Success/Critical Factors in Social Media Governance

Various key factors need to be considered for having an effective social media governance framework and undertaking such programs. Considering these key points while developing social media programs can be helpful in maximising the value obtained from this marketing (PWC, 2017). This can also be beneficial for managing and reducing social media risks alongside contributing towards the success of the social media program.

Fig 2: PWC’s Social Media Governance Framework

(Source: PWC, 2017)

It is essential for firms to develop an effective social media policy to be followed by all organisational members while engaging with prospective clients and customers (PWC, 2017). These firms should increase awareness of such policies and provide effective training to the employees. Furthermore, building social strategy is also essential for managing potential risks and using these platforms. Firms should also focus on strengthening their resilience and developing effective crisis management plan for managing and reducing social media risks (PWC, 2017). Besides, this framework requires firms to adhere to laws or regulations determining the conditions of using social media. In addition, they also change their existing policies or procedures for protecting data privacy and enhancing security of users to prevent cyber-attacks (PWC, 2017).

3. Discussion

3.1 Critical Analysis of Reflecting Selected Topic

In the literature review section, different scholarly articles and existing studies have been used as information sources. They provided detailed insights about using social media governance, undergoing digital transformation, social media governance trends and its success factors.

It has been observed that Onețiu (2020) and Shwetha & Shubha (2017) have provided similar opinions about the growing importance of digital transformation in firms as they help in using social media for enhancing customer value. They provided detailed information regarding benefits of using digitalisation, however, they did not focus on how such transformation accelerates the use of social media governance.

The report published under PWC (2017) has been of great significance in this research paper. It discussed about different pitfalls of using social media in firms, which further led to the necessity of using social media governance. In this regard, it also provided an overview of its framework for governing social media usage. Here, Statista research of 2023 has shown how number of social media attacks has increased over the years. However, van den Berg & Verhoeven (2017) and Whitler (2018) have also argued about the use of social media governance for having control over employees’ behaviours over these digital platforms. Thus, these articles have mainly provided information about why firms should develop a framework for social media governance.

Authors Kumar & Gupta (2023) or Berg & Verhoeven (2017) have not carried out an exhaustive discussion about key trends present in social media. Instead, these studies have mainly focused on the organisational context of undertaking social media governance for shaping employee behaviours and managing brand reputation. In this regard, the article of Felix, Rauschnabel & Hinsch (2017) has been helpful for understanding the governance trends in social media marketing activities of the firms. Thus, these three articles have provided three different aspects of social media governance trends in the current market. Moreover, the published document of PWC (2017) has been an important resource for gathering detailed insights about the concept of social media governance. It has provided an effective framework along with various critical factors ensuring its success. However, this article has not delved deeper into the opportunities or challenges associated with the development of social media governance framework.

3.2 Challenges for Digital Transformation in Social Media

There are various market restraints or challenges like economic turmoil with reduced consumer spending, stringent regulatory and legal frameworks, increasing competition and market saturation and technological obsolescence that can restrict usage of social media governance (CogniProbe Research, 2024). These challenges mainly prevent firms in undergoing digital transformation that can be helpful for developing effective governance framework. Some digital transformation challenges facing firms can be determining priorities and meeting needs, aggregating data for personalization, lack of sufficient resources for IT staff, storing and selecting digital data, difference in manual work and computing machines, issues of security and accessibility and maintaining privacy of individuals (Heavin & Power, 2018, p. 39(3)). Leaders also face various digital transformation dilemmas like integrating technology into organizational culture, bringing fundamental changes and undertaking different approaches. These leaders also face issues of inadequate digital skills of employees, lack of finance, failing to adapt, aversion towards unfamiliar technology, lack of change management and intensive competition in the market (Hai, Van & Thi Tuyet, 2021, p.28(6)). Moreover, digital transformation has become more of a managerial issue because leaders and managers are required to redesign their business processes, conduct training of employees and reinvest in their organizational capabilities and resources (Li, et al., 2018, p.1131(3)). These challenges make it difficult for contemporary leaders in undergoing digital transformation and using social media governance in their firms.

3.2 Opportunities for Digital Transformation in Social Media

Opportunities can act as market drivers for social media governance with increased digital transformation across global business market. It has been observed that expanding population and growing consumption patterns, ongoing technological advancements, increasing disposable income of individuals, supportive government policies, rising awareness of various product benefits and others can help in favoring this social media governance (CogniProbe Research, 2024). Furthermore, firms need to have clearly-defined norms, values and goals for ensuring successful digital transformation. It engages in the continuous collection of data for enhancing satisfaction of different stakeholder groups and reallocating resources, technologies and others to undergo this digital transformation (Kraus, et al., 2021, p.9(table 2)). Besides, leaders further emphasise on changing decision-making processes, adapting changed value propositions and creating new digital networks within the organisation. They also focus on enhancing collaboration across various agile intra-teams alongside integrating IT and technical competencies of the members. Firm leaders engage in value co-creation amongst various stakeholders and organisational members (Kraus, et al., 2021, p.9(table 2)). They also try to attain convergence of various digital approaches and leadership roles available in their information system. Here, fundamental change is necessary by redesigning strategy, power allocation, structure and changing processes. Thus, these factors act as drivers for digital transformation and social media governance apart from the favourable factors of market.

3.3 Recommended Innovative Approaches

Firms can undertake four effective innovative approaches for enhancing their digital transformation efforts.

3.3.1 Establishing Digital Culture

The first strategy is developing a digital culture within organisations. This can be ensured using change management models Lewin’s three stage or Kotter’s eight step models for initiating change. Besides, firms should focus on enhancing leadership commitment and effectiveness towards fostering such culture.

3.3.2 Increasing Automation

Contemporary firms should further emphasize on increased automation of their business processes and services. Here, advanced technologies like machine learning algorithms, artificial intelligence and cloud computing can be used for saving time and costs of doing various laborious, manual and repetitive tasks.

3.3.3 Conducting Training and Learning

The third strategy is conducting continuous training and learning opportunities for the employees. This is essential for enhancing their talent and skills in embracing digital transformation. It also involves leveraging these learning opportunities to use various digital tools in the business.

3.3.4 Improving Cybersecurity

The fourth strategy is to increase cybersecurity measures in the firms for being able to undergo smooth digital transformation of their business processes and services. This can be useful for mitigating data security and privacy risks by undertaking proactive measures. In this regard, providing adequate training to employees for handling best practices is also essential.

4. Conclusion

Digital transformation has become inevitable for modern business organisations. This has increased the use of social media platforms in businesses. However, social media usage comprises of various risks and benefits, which has made it essential to have an effective social media governance framework. Social media governance can help in mitigating risks by reviewing employee behaviour and usage of these platforms through its policies, regulations and procedures.

The research paper has discussed about the topic of social media governance by delving into digital transformation of businesses. In this regard, it has been observed that governance, risk management and compliance strategy has become essential for firms engaging in information systems (IS). It has further provided a brief overview of digital transformation through the increased use of various social media platforms in the organisation. Furthermore, different scholarly articles have also been reviewed related to the research topic. This has helped in understanding about the growing importance of social media governance to mitigate possible risks, key trends in this framework and critical factors to be considered. This research paper has further carried out a critical analysis of these articles, which have helped in showing how they have catered to better understanding the selected research topic. Besides, various challenges and opportunities related to the application of digital transformation through social media have also been identified. These have shown how they either act as drivers or restraints for undertaking social media governance. Lastly, innovative approaches of fostering digital culture, increased automation, training employees and cybersecurity measures have been recommended. 

5. References

CogniProbe Research, 2024. Social Media Governance Market Growth Trends 2024-2032: with Size and Share Analysis. [online] LinkedIn. Available at: https://www.linkedin.com/pulse/social-media-governance-market-growth-trends-2024-2032-4trwe (Accessed 6 June 2024)

Felix, R., Rauschnabel, P.A. & Hinsch, C., 2017. Elements of strategic social media marketing: A holistic framework. Journal of business research, 70, pp.118-126, https://fardapaper.ir/mohavaha/uploads/2017/10/Elements-of-strategic-social-media-marketing.pdf

Hai, T.N., Van, Q.N. & Thi Tuyet, M.N., 2021. Digital transformation: Opportunities and challenges for leaders in the emerging countries in response to COVID-19 pandemic. Emerging Science Journal, 5(1), pp.21-36, http://dx.doi.org/10.28991/esj-2021-SPER-03

Heavin, C. & Power, D.J., 2018. Challenges for digital transformation–towards a conceptual decision support guide for managers. Journal of Decision Systems, 27(sup1), pp.38-45, https://doi.org/10.1080/12460125.2018.1468697

Joshi, P.K., 2023. Governance, Risk Management, and Compliance in the Cybersecurity Framework. [online] EC-Council, 2024. Available at: https://www.eccouncil.org/cybersecurity-exchange/whitepaper/governance-risk-and-compliance/ (Accessed 6 June 2024)

Kraus, S., Jones, P., Kailer, N., Weinmann, A., Chaparro-Banegas, N. & Roig-Tierno, N., 2021. Digital transformation: An overview of the current state of the art of research. Sage Open, 11(3), p.1-15, https://journals.sagepub.com/doi/pdf/10.1177/21582440211047576

Kumar, A.M. & Gupta, S., 2023. Governance of social media platforms: A literature review. Pacific Asia Journal of the Association for Information Systems, 15(1), p.1-31, https://aisel.aisnet.org/cgi/viewcontent.cgi?article=1286&context=pajais

Li, L., Su, F., Zhang, W. & Mao, J.Y., 2018. Digital transformation by SME entrepreneurs: A capability perspective. Information Systems Journal, 28(6), pp.1129-1157, https://www.researchgate.net/profile/Fang-Su-7/publication/318131142_Digital_transformation_by_SME_entrepreneurs_A_capability_perspective/links/6187

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Medaglia, R. & Zheng, L., 2017. Mapping government social media research and moving it forward: A framework and a research agenda. Government information quarterly, 34(3), pp.496-510, http://www.dmg.fudan.edu.cn/wp-content/uploads/Mapping-government-social-media-research.pdf

Onețiu, D.D., 2020. The impact of social media adoption by companies. Digital transformation. Studia Universitatis Vasile Goldiş, Arad-Seria Ştiinţe Economice, 30(2), pp.83-96, https://intapi.sciendo.com/pdf/10.2478/sues-2020-0014

Petrosyan, A., 2023. Global social media attacks rate among businesses 2021. [online] Statista. Available at: https://www.statista.com/statistics/1149299/share-social-media-attacks-organizations-experienced/ (Accessed 6 June 2024)

PWC, 2017. Social media governance: Managing social media risk. [pdf] Available at: https://www.pwc.com/m1/en/services/assurance/risk-assurance/social-media-governance/documents/social-media-governance.pdf (Accessed 6 June 2024)

SAP, 2024. What is governance, risk, and compliance (GRC)? [online] Available at: https://www.sap.com/india/products/financial-management/what-is-grc.html (Accessed 6 June 2024)

Sherif, A., 2024. Digital transformation spending worldwide 2017-2027. [online] Statista. Available at: https://www.statista.com/statistics/870924/worldwide-digital-transformation-market-size/ (Accessed 6 June 2024)

Shwetha, S.H. & Shubha, L., 2017. Impact of Social Media in Digital Transformation. Adarsh Journal of Management Research, pp.132-134, https://adarshjournals.in/index.php/ajmr/article/download/122325/84109

van den Berg, A.C. & Verhoeven, J.W., 2017. Understanding social media governance: seizing opportunities, staying out of trouble. Corporate Communications: An International Journal, 22(1), pp.149-164, https://www.wellesu.com/10.1108/ccij-06-2015-0035

Whitler, K.A., 2018. Why More Firms Need A Social Media Governance Plan. [online] Forbes. Available at: https://www.forbes.com/sites/kimberlywhitler/2017/05/14/why-more-firms-need-a-social-media-governance-plan/?sh=e964e847a2b9 (Accessed 6 June 2024)