Final answer:
Companies should implement an Access Management process to protect sensitive data, ensure privacy, and mitigate risks of unauthorized access and data breaches. This is in line with ensuring national security, much like the founding of the CIA, and helps prevent costly security incidents such as the one experienced by Target.
Step-by-step explanation:
The implementation of an Access Management process is crucial for companies for multiple reasons. Firstly, it safeguards personal, financial, and medical information that individuals share with businesses, ensuring privacy and compliance with data protection regulations. Just as the Central Intelligence Agency (CIA) was created to protect US national security, businesses must protect sensitive company and customer data from cyber threats. Access Management helps in mitigating the risks of unauthorized access and data breaches.
Enhanced security measures such as two-factor authentication, strong password policies, and employee education are all part of an efficient Access Management strategy that can help prevent costly security incidents. The study by Bruno & Abrahão (2012) illustrates how cognitive load can influence the accuracy of security-related decisions, which underscores the need for well-designed Access Management processes to reduce the risk of human error. Furthermore, as shown in the case of the Target data breach, failure to respond appropriately to security threats can have significant repercussions for a company.
Overall, Access Management is a cornerstone of modern security practices that protect not only individual privacy but also the operational integrity and reputation of businesses and governments alike.