Investment Risks: Chevron and Exxon (Essay Sample)

Firstname Lastname Name of the instructor Course name 10 Oct 2022 Investment Risks: Chevron and Exxon Different companies use social networks and social media platforms for marketing their services and products. Marketing through social media allows companies to reach new customers and engage more with existing clients. Value is attained not just by having social media platforms but by how it is used. Those applications have a vast potential to give extra benefits beyond e-commerce activities, including driving sales and distributing content, as they allow the creation of an online customer base. Despite the high number of social media benefits, some risks are associated with such platforms, including cyber security (Wilbanks 11). Most energy companies, including Chevron and Exxon, have made investment risks in social media; however, they have different ways of overcoming challenges. Social media platforms are mainly prone to security breaches, violations of the company's code of conduct, intellectual property leaks, and client confidentiality breaches. The leaks and breaches could substantially impact the company's brand image, making customers unlikely to invest in a firm's services or products. Such leaks can cause legal actions, which is why such platforms should have firewall protection and strong passwords. Chevron has a global presence with operations around the world. Thus, their main job involves protecting technology assets and information in each county they operate. Because oil drives economies in various countries, the company ensures that they are updated with information related to natural gas resources, including the geopolitical news that can impact its operations. At Chevron Company, they aspire to be ready to mitigate adversaries that could cause a threat to their systems (Miller et al. 100464). Hazards include an attempt to steal crucial information, corrupt data, or force a total shutdown of operations. Hackers can steal clients' data to access their platforms to engage with the company. The main goal for Chevron is to ensure information is kept safe, as well as its workers and operations. On the other hand, Exxon has a different approach to handling cyber security attacks. Exxon ensures that its balances business with cyber security concerns. Their models are based on understanding the business benefits and the value that can be lost through breaches. America was affected by over 100 main cyber-attacks in 2011, including the well-publicized ransom attacks on an international beef supplier and the US oil pipeline (Bunker 17). Hence companies are much aware of how cyber-attacks can cause huge losses. In 2009 Exxon was among the oil companies that hackers targeted (Babb and Alex Wilner 520). According to the reports, several companies lost project financing information related to operations and field bids. While anticipating such magnitudes of disruption, Exxon has managed to create a cyber-resilient strategy known as twofold. It first has an effective shield from likely security breaches and threats and, secondly, can maintain an efficient plan for restoring the capacities in case of disruption. Hence Exxon looks at the uses of social media through lenses. It...