Vital Knowledge Assets Protection Planning Service Essay

Vital Knowledge Assets Protection Planning Service - Essay Example High turnover rates have caused companies to become stagnant in terms of advancement of knowledge. Knowledge sharpens individuals’ skills, increases association productivity and drives innovation Beazley, H. (2003). Knowledge is highly perishable, increases with sharing and is cumulative Beazley, H. (2003). Retirements of experienced and knowledgeable professionals as well as many employees leaving the organization have caused companies lacking valuable knowledge for advancement. A major consumer products company had to delay the launch of its new products due to technical difficulties and lost a major market share because its competitor had launched the same product during that time period. The agony was that the company had developed the solution to those technical problems, fifteen years ago but those who had developed it and had the knowledge to implement it, had retired. The new professionals did not have the knowledge, nor did they know that the system was in place, Fiel d, A. (2003).Disaster may be termed as a happening or an attack by a malicious attacker or a rival or some mishap that may cause knowledgeable employees to leave the company, O’Sullivan, K. (2010). Such disasters may cause harm to the data that the company possesses or the knowledge that the company has. With competition increasing at such a high pace, complying with ethics is a thing of the past. Disaster may strike in the form of data being corrupted, data being stolen or knowledgeable professionals being lured away. The key question is how a firm may keep itself safe from such disasters and happenings? The first part focuses on the safety of data from disasters. The biggest threat to data security is what the data managers do not know about O’Sullivan, K. (2010). Data storage managers only to cover the basics of security and are exposed to many vulnerabilities. They are exposed to threats from viruses and hackers through their storage web interfaces. In order to avoid this business must have a data recovery plan or DR.