Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Home depot data breach 2014
Home depot data breach 2014
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Home depot data breach 2014
The Home Depot is a retail store for the more do it yourself people that have home improvement and construction products and services. This company has been at the top of the list for construction and home improvement retailers since 1978 and an annual revenue of close to $80 billion from over 2,000 locations. In 2014 this organization was hit with arguably the biggest retailer breach in history, topping the target breach in the previous year. This was the first time that Home Depot had been breached to this scale and they took a devastating blow. This breach has a story in itself as to why it took so long to detect this malware in their payment systems. With a company like Home Depot they should have enough money to detect these infections …show more content…
The hack happened because of the lack of security and the use of outdated software to protect the network and the lack of security checks of customer information. After this incident many of the employees of the security team left the company because of the reputation that it was bringing the company. Facing these problems in recent years, in 2012 Home depot hired a computer engineer to help with the security of all of the locations that they possessed. Later on down the road that employee was arrested and sentenced to four years in prison for disabling computers for the company he worked at prior to Home Depot. Even though this malware was not seen prior to this incident it was very difficult for them to detect, Home Depot should have taken precautionary actions to prevent an attack like this from …show more content…
Home depot is the one to blame for so many cards getting stolen throughout the months due to their lack of daily checks on the security logs as they are supposed to. Due to the payer card regulations, companies are supposed to check the security logs daily and this is something that Home Depot was not doing. Weather it was because it was too expensive or they did not put it in their budget, it is costing them over $62 million to fix this breach and the mistakes that they have made. The hackers were so good at what they did and infiltrated the payment systems so smoothly that Home Depot did not detect this in time to minimize damages to their finances and other people’s finances. If different actions were taken by Home Depot with their security logs then this might not have happened, or if it did it would have been detected
the countries of Canada, Mexico and Australia (Lowe's Internal, 2010) Home Depot, founded in 1978, is the fastest growing retailer in the United States. Ranked twenty-ninth as a Fortune 500 company, Home Depot continues to remain the number one do-it-yourself retail store in America. These two companies may sell products of the same nature, but comparing their Code of Ethics is their way of setting themselves apart. (Home Depot Internal, 2009) Lowe’s begins their manual with an Introduction that
Home Depot is the brainchild of Bernard Marcus and Arthur Blank and came about after both men lost their job in the home improvement industry in 1978 (Parnell, 2014). Home Depot has acquired several smaller home improvement stores in both the U.S. and abroad through the years which enabled it to position itself as the world’s largest home improvement chain (Parnell, 2014). Home Depot focuses on the do-it-yourself segment of the market and sells sells tools, construction products and services. Marketing
rethink their compensation and benefits packages. The home improvement industry is no exception to this phenomenon. Companies like Ace Hardware, Lowes Home Improvement, and The Home Depot have had to adapt their benefits packages to stay competitive in an industry with an ever-changing employee demographic. The following pages will include a comparison of all the benefits offered by Ace Hardware, Lowes Home Improvement, and The Home Depot, as well as, a glimpse into whether or not their strategies
crucial role in deciding whether or not to invest or purchase a company. For example, Home Depot is a global home improvement retailer who specializes in selling consumers a variety of building, maintenance, and renovation products and services. The Home Depot chain currently
In the beginning Home Depot coined the phrase do it yourself and they cornered home improvement market in the United States. Home Depot was founded by Bernie Marcus and Arthur Blank, Home Depot was able to offer extraordinary customer service by hiring professional employees, such as plumbers, carpenters, electricians, etc., who would guide prospective customers through home renovation projects. Since its opening in 1978, Home Depot has become one of the largest home improvement retail chain in
The Home Depot and Ford Motor Company's Adaptation to External Factors An organization must always look within and outside of themselves to assess their internal strengths and weaknesses and realize which external factors pose a threat or an opportunity for them. These factors have direct impact on how the organization operates, allowing them to mitigate their threats and maximize their opening to create new and diverse products as the demands of the people grow and technology advances (Rothaermel
Home Depot vs. Lowes The Home Depot Company Introduction Home Depot company offer a wide range of merchandise and services, and serve three primary customer groups: do-it-yourself customers, do-it-for-me customers and professional customers. A classic Home Depot store stocks approximately 40,000 to 50,000 product items, including variations in color and size. Major product groups include building materials, lumber plumbing, electrical and kitchen; hardware and seasonal, and paint, flooring
Introduction – Overview of The Home Depot Case Study This analysis will explore The Home Depot data breach which occurred on Sept 8th, 2014, one of the nation’s largest security retail compromises of that time. The Home Depot, with over 2,200+ stores in the United States, Canada and Mexico, suffered a historic cyber-attack of significant proportions. The breach was devised by skilled hackers who developed an unknown custom malware that penetrated their payment systems and stole over 56 million credit
Formatting Problems Home Depot STRENGTHS - Strong market position - Higher returns than competitors - Balanced brand mix - WEAKNESSES Sub optimal capital structure - Product recall OPPORTUNITIES - International presence - Growing popularity of power tools - Increasing online sales THREATS - Intense competition - Slowdown in US housing market - Rising labor wages in the US |The Home Depot Inc. (HD)
Case Study of The Home Depot Preface This Essentials of Strategic Management assignment has been made by three persons which have been working together and individually to finish the assignment properly and in time. Secondly, we would like to thank the company whose websites we were able to visit and use, to get additional information that we could use for leading the assignment of Home Depot to a successful ending. We can say, that it was a pleasure to work on this assignment and
Home Depot was founded in 1978 by Bernie Marcus and Arthur Blank in Atlanta, Georgia. With their store, Marcus and Blank revolutionized the do-it-yourself home improvement market in the United States. Home Depot began as a very basic store, operated in a large, no-frills warehouse. Home Depot carries over 35,000 products, with national brand names along with the Home Depot brand. At the start, Home Depot was able to offer exceptional customer service with knowledgeable employees who could guide
PROPOSAL FOR ANALYTICAL REPORT DATE: SEPTEMBER 21, 2015 The individual will be researching these two companies, Home Depot and Lowes. However, this individual has chosen to do these two companies for research purposes with evaluating on comparison. Background In providing a brief summary of the background history information on these companies, Home Depot founded in 1978 by Arthur Blank and Bernie Marcus. On June 22, 1979, in Atlanta, Georgia were the first two Home Depot stores opened as a vision
the effects of the recent economic downturn recede, industries are making their way back into the retail market including home improvement stores (Moneytips, 2015). It would appear that the trend is to renovate an existing dwelling rather than tempt fate on the housing market (Moneytips, 2015). This is positive news for those renovation retail organizations such as Home Depot as this organization has seen a four percent rise in annual growth the past five years (IBISWorld, 2015). However, organizational
them back on the loan. In the comparison between Home Depot and Lowe’s we find that the trends are very similar to the quick ratio with Home Depot having more cash to cover its liabilities than Lowe’s. As expected, the cash ratios are lower than the quick ratios, because short-term investments and receivables are taken out of the equation. Over the past six years, both companies’ cash ratios have been declining with an average of 0.186 for Home Depot while the average
and strong government practices make China's market place a very difficult for foreign firms to enter and do business successfully. One example of a US firm attempting to pry into the Chinese business world is Home Depot, but this firm wasn't able to sustain business in the country. Home Depot failed in its attempt to enter China and it's important to take a deeper look into why this happened. Foreign firms that enter China must first develop a business strategy that is catered to the specific target