CFO Studio Magazine with Alison Cornell

MONEY BUSINESS Adopting a Digital Business Model Delete the Phone Data in Your Rental Car Q1 2017 WWW.CFOSTUDIO.COM 19 The cloud is enabling companies to move more rapidly toward new business models that engage, enable, and support increasingly tech-savvy customers and workers: Lack of Sleep Can Kill Your Charisma S leep-deprived followers are not apt to notice the boss’ positive emotion (aka “charisma”), and leaders who don’t get their essential slumber are less likely to display charisma as they go through their day. That’s the conclusion of a recent study testing whether the perception of a leader’s charisma is undermined when either of these two conditions exists: sleep-deprived leaders or sleep-deprived team members. The scientists, who reported their results in the Journal of Applied Psychology, first manipulated the sleep of “leaders,” giving them about two hours less sleep than the control group of “leaders.” The sleep-deprived leaders, who were told to prepare and deliver a speech, rated their own feelings of enthusiasm, excitement, and attentiveness before speaking and after. In addition, evaluators rated the charisma of each speaker. In the second part, the subordinates were deprived of sleep and then asked to rate videos of those “leaders” as to their charisma. Sleep-deprived followers attributed less magnetism to any of the “leaders” whose speaking performance they were shown. Real-world business leaders may be sabotaging their own success by requiring subordinates to check smartphones late at night, proposes the lead author, Christopher M. Barnes, an assistant professor of management at the University of Washington’s Foster School of Business. C onnecting a mobile device to a rental car can result in the inadvertent sharing of your call and message logs, contacts, and text messages, warns Lisa Weintraub Schifferle, an attorney with the U.S. Federal Trade Commission. The system may “keep locations you entered into the GPS or visited when traveling in the rental car — like where you work or live,” she warns. To be safe: •Do not use the USB port to charge devices; instead use the cigarette lighter. •Do not ok access to your contacts if you just want to play music. Give the system as few permissions as you can. •Do delete your data at trip’s end. The settings menu of the infotainment system is where you’ll find your device’s code name. Follow prompts to delete your device. SOURCE: The Wells Fargo Insurance 2016 Network Security and Data Privacy Study, conducted from June 3–9, 2016; answered by 100 decision makers in the area of cyber and data privacy risk. 72% of executives see a digital business model as critical for success 15% view their organizations as nimble enough for full digital businesss 55% of the companies’ apps are already in the cloud 88% cite cloud security as a top priority for competitiveness in the digital world SOURCE: Unisys survey, June 2016, of 175 IT and business executives in the U.S. (125), U.K., Germany, and France whose organizations employed 1,000 employees and up. Private data leaks are the No. 1 concern of decision makers at companies with $100 million or more in annual revenue. Here are the data breach issues that most worry business executives: » » 47 % Leaking private data/loss of data » » 26 % Hackers/outside threats » » 26 % Security breach » » 9 % Maintaining reputation/keeping compliant with regulations » » 7 % Viruses/disruption of operations » » 7 % Software vulnerabilities » » 7 % Employee misuse of technology » » 7 % Other While one of the biggest areas of vulnerability is employees clicking on links in phishing scams, a sophisticated twist is when a directive purports to come by email from a senior executive, requesting that payment be made to a specific bank account. Everyone’s Worried About Network Security — for Good Reason