Impacts of Cyber Technological Trends and Digital Economics on Small & Medium Size Industries

This paper seeks to explore the impacts of Cyber Technological trends and Digital Economics on small and medium size industries.   Another aspect covered by the paper is assessing the technological challenges faced by the industries, and how developments are being undertaken to overcome these.

The ability of organizations to cope with Cyber security issues and strategies being incorporated by the businesses to use information technology as a medium to increase economic welfare.

The paper also addresses the pros and cons of electronic commerce and recent developments in Information technology and its impact on the consumer behavior and global economy.

Since technology plays a vital role in the growth and development of a business, the risk is growing with the increasing use of insecure Cyber technology. Organizations are not only facing threats from the outside hackers but stakeholders can also bring risk through mishandling of information and corruption. Nowadays businesses are facing issues from well-organized cyber criminals who tend to steal personal and corporate financial information which leads towards damaging company‚Äôs brand image and reputation.    
For any business to succeed, they need to make sure the secure use of Cyber Technology and electronic commerce. Although security is not a new concern for IT but ability to manage and protect enterprise across resources has changed. Sound security processes needs to be used in day-to-day business operations.
The value of security has tremendously increased and it demands to set new business and IT priorities to protect existing as well as potential business. The first objective is to identify the data that is valuable for an organization and than protecting that data from cyber criminals by implementing effective cyber security procedures. The need to implement these procedures is not only important for large scale business organizations but this is also considered essential for...