Cambridge Analytica Data Scandal

Cambridge Analytica Data Scandal

Introduction

Facebook is a renowned social media conglomerate with an astonishing user base exceeding 2 billion globally. It pioneers social networking by pushing the boundaries of innovation, which has catalyzed vital social impacts throughout its tenure in the industry. Its operations have faced numerous noteworthy challenges that have tested the organization’s resilience and adaptability (“‘The great hack’: Cambridge Analytica is just the tip of the iceberg,” 2021). Some notable issues include the Cambridge Analytica data scandal and the 2016 US presidential election interference, which prompted critical examinations of Facebook practices and their impact on society.

Strategies and Management

Strategically, Facebook integrates both proactive and reactive measures in the realm of risk management. The reactive measures include incident response plans outlining the steps to be taken in case of a security breach or crisis. It also invested in insurance coverage like cyber liability insurance, which aims to mitigate financial losses from potential risk incidents. For operational continuity, the organization deploys a continuity plan which outlines the various measures for critical functions in case of disruptive incidents to mitigate user and partner disruptions (“Cambridge Analytica scandal changed the world – but it did not change Facebook,” 2019).