Introduction

The company Tesco PLC has been identified as one of the largest retail companies in the UK. It can operate all its functions in the market to maintain the level of competition while focusing on the approaches related to digital transformation (Tesco PLC, 2021). The company has also been identified as one of the biggest leaders in enhancing the experiences of the customers. However, cybersecurity in the company has been identified as a major challenge because of increased dependency on digital solutions. The report target to focus on the development of an appropriate strategy for the company Tesco PLC while involving appropriate innovate measures for decreasing all the risks related to cybersecurity. The implementation of appropriate digital solutions for the company will also be discussed.

Part-A: Strategy Development/ Evaluation

i. Key Issues

Tesco PLC, in the area of digital economy, has been identified to be facing some major challenges while focusing on achieving an increased level of success. All of these challenges are increasing in the organisation because of increased dependency on the use of digital technologies which is also responsible for causing cybersecurity issues. As per Tesco PLC (2021), one of the main issues in Tesco PLC has been identified to involve the risks of cybersecurity along with some technological approaches which are also responsible for decreasing the expectations of the customers.

Risks of Cybersecurity

Tesco PLC has been identified to be depending increasingly on digital technologies for all of its operations so it has already become a main target for all the cybercriminals and the hackers who are majorly involved in the cyberattacks cases (Jones, 2017). The risks associated with cybersecurity also often get affected by the data handles of the company which mainly involve the information of the customers along with the details of payment, and also other operational data. Breaches of all these data can also result in a huge financial loss for the company along with damage to their reputation and legal issues as well. According to Kaur Chahal et al. (2019), all the cyberattacks like the breaches of data along with DDoS or Distributed Denial of Service have been identified as some of the common risks of cybersecurity.

Concerns of Standard Maintenance

The organisation Tesco PLC has also faced some major challenges associated with the maintenance of the laws of data protection like the GDPR or the General Data Protection Regulation. The GDPR law needs to be implemented at the time of breaching any personal information or data that has been processed and stored for a long period (Politou et al., 2018). Several penalties are associated with breaching this law and it can also destroy the overall trust of the customers in the organisations. Moreover, the organisation Tesco PLC is present in different countries where they need to maintain different types of laws related to the protection of data which are also capable of creating more issues.

Digital Transformation and Technological Integration

The company Tesco PLC has already enhanced the use of different innovative digital transformation approaches by creating online shopping platforms and mobile applications with several new features based on the preferences of the customers (Tesco Plc, 2023). However, the inclusion of this innovative approach has been identified to be facing different challenges in the technological areas. The use of different important technologies like the IoT or Internet of Things, AI or Artificial Intelligence, and the approaches of block chain have been figured to be very important for the overall maintenance of the operational efficiency in the organisation Tesco PLC (Tesco Plc, 2023). However, the increased use of all these technologies can affect the cybersecurity frameworks of the organisation while also affecting customer experiences.

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ii. Digital Strategy

To overcome all the identified challenges in the organisation Tesco PLC there is a requirement of involving approaches digital strategy which involves the cybersecurity-first digital strategy. This strategy involves three main aspects the first one is the enhanced framework of cybersecurity, cyber innovation, and resilience, and lastly data privacy and protection (Reveron and Savage, 2020). The strategy is important for Tesco PLC because the involvement of cybersecurity is important to increase digital success while protecting the overall infrastructure along with the enhancement of the digital economy.

Enhanced Cybersecurity Framework

There is a requirement to involve a well-structured framework of cybersecurity as it can help in understanding the digital challenges while succeeding in the digital economy. The company Tesco PLC is required to invest more in advanced approaches related to the systems of threat detection while also involving the use of ML or machine learning and AI. Through the incorporation of these systems, all the security challenges can be identified beforehand (Mylrea et al., 2017). This can also help in decreasing the issues related to data breaches.

Data Protection and Compliance

Through the involvement of strict regulations like the GDPR the organisation Tesco PLC also needs to focus on securing the data of the customer and storage approaches as well by mainly implementing blockchain technology. The use of blockchain technology can help enhance the aspects of data security while providing a transparent method for tracking all the data to maintain the digital economy (Feng et al., 2020). Through the use of this strategy in Tesco PLC the organisation can easily focus on the measurements of data protection while increasing the overall effectiveness of all the cybersecurity regulations.

Integration of Digital Technologies

Through the inclusion of digital technologies like IoT and AI the organisation Tesco PLC can easily make changes in its operations while trying to enhance the overall experiences of its customers and succeed in the digital economy. Through the involvement of different personalised approaches and by managing the inventory successful implementation of the technologies can be done (Sturgeon, 2021). The use of these technologies is capable of preventing all the challenges related to cybersecurity in Tesco PLC while increasing the success level in the digital economy.

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iii. Innovation

Based on the identified digital strategy for decreasing all the challenges along with achieving success in the digital economy in the organisation Tesco PLC the critical innovation approach has been identified to be the involvement of machine learning and AI in the overall infrastructure of cybersecurity. The use of AI is capable of providing different types of advantages to organisations while focusing on decreasing any kind of threats that are related to cyber security (Kaur et al., 2023). The overall implementation of the strategies can also help in making changes in the experiences of the customers by enhancing the levels of operational efficiency in Tesco PLC. All the security systems in the organisation can also get changes while increasing their status in the digital economy as well by the use of machine learning and AI approaches positively.

Both these innovative approaches can be used for the development of an intelligent system that can easily detect threats for further analysing the real-time data related to cybersecurity while succeeding in digital economy (Furman and Seamans, 2019). The use of different effective systems of AI is also capable of making changes in all the associated threats in Tesco PLC involving the traditional measures of security. By focusing on the implementation of these innovations the organisation can easily figure out all the related cybercriminals.

The inclusion of some of the effective security approaches like patch management and the monitoring systems of threat can help the company Tesco PLC to make changes in their operations related to cybersecurity. The use of automation helps decrease all the risks associated with human errors while focusing on the inclusion of effective protocols that can help in making constant security changes as well (Mohammad and Surya, 2018). The risks associated with cyber-attack can be decreased while increasing the overall structure of the digital economy in the organisation Tesco PLC through involving machine learning and AI-related tools of automation.

Part-B: Implementation Plan

i. Project Plan

The project plan of Tesco PLC involving the selected cybersecurity-first strategy can help in maintaining the leadership approaches in the organisation while decreasing all the identified challenges in cybersecurity to succeed in the digital economy. Some of the major tasks associated with the project plan are the assessment and planning of the whole project while focusing on the current infrastructure of Tesco PLC. Then there is a requirement to make changes in the whole infrastructure of the organisation based on the selected approach. After that proper training and monitoring processes also need to be included.

Tasks and Time	Month 1	Month 2	Month 3	Month 4	Month 5	Month 6	Month 7	Month 8	Month 9	Month 10	Month 11	Month 12
Phase 1: Assessment and Planning
Phase 2: Infrastructure Strengthening
Phase 3: Workforce Training and Awareness
Phase 4: Compliance and Monitoring

Table 1: Project Plan Time-Table

(Source: Self-created)

ii. Key Performance Measures

The measurement of the key performance for monitoring the overall success of the strategy is a requirement of involving appropriate indicators. One of the major key performance indicators is the detection of threats and the response time. This indicator helps in detecting the average time while analysing the threats to reduce the overall response time by up to 50% in a period of 12 months (Liu et al., 2018). The next indicator helps in blocking any kind of security issues like the attacks of blocking to achieve success in the digital economy.

The use of the next indicator involving data breach incidents helps in tracking the number of overall cases of data breaches while targeting to make the overall number of cases zero (Liu et al., 2015). Another important key performance indicator is the maintenance of regulatory laws like the GDPR by the organisation which involves the presence of different internal audit approaches to focus on the maintenance of some other effective laws related to the privacy of data (Diamantopoulou et al., 2020). Some other key performance indicator involves the analysis of appropriate awareness and employee training approaches in the industry.

The involvement of key indicators like the assessments of the training programs can help in increasing the knowledge about the use of effective innovative technologies in the organisation by at least 90% (Anadon et al., 2016). Lastly, the involvement of the security approaches related to the supply chain as part of the indicator can help in monitoring the overall incidents.

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iii. Key Processes to ensure success

The successful implementation of the strategy in the organisation Tesco PLC has been analysed through the use of appropriate useful processes. The involvement of an appropriate risk management process can help in analysing the cybersecurity issues while managing the overall incident rates and the maintenance of the protocols (Paté‐Cornell et al., 2018). The implementation of the SOC or the security operations centre can help in the collection of real-time data from the organisation Tesco PLC. Another important process involves the implementation and development of an appropriate policy of data management to focus on the maintenance of the overall processes related to data sharing, collection, and storage (Tenopir et al., 2020). Updating the privacy policies related to data protection approaches the company Tesco PLC can focus on increasing the expectation levels of the customers.

The development of an appropriate plan of incident response involving the protocols of communication and the strategies of recovery is capable of increasing the overall digital economy structure of the organisations (Salvi et al., 2022). In Tesco PLC the involvement of this plan needs to be updated regularly based on the current threat levels in the organisation. Another important process for ensuring success is the development of an appropriate approach for mitigating the risks related to the supply chain. This can help in maintaining the overall standards of cybersecurity in the organisation Tesco PLC while identifying all the challenges beforehand. The involvement of vendor risk assessments can help in managing the standards of cybersecurity (Ganin et al., 2020). Lastly, through the inclusion of continuous programs of audits can help in the management of the strategies of auditing while making changes in the measures of cybersecurity as well.

iv. Importance of the relevant digital technologies

The overall success rate of the strategy of Tesco PLC is dependent on the involvement of some of the effective digital approaches or technologies that can help in decreasing the increasing threats related to cybersecurity. Some of these technologies are the use of blockchain technology, machine learning and AI, big data analytics, the solutions of cloud security, and security solutions related to IoT. All of these technologies are capable of making changes in the overall digital infrastructure of the organisation.

Machine Learning and AI

The increased use of different AI technologies can help in analysing the threat associated with Tesco PLC beforehand so that the digital economy structure of the organisation can get maintained. The use of these technologies can mainly help in the analysis of all the real-time data while evaluating the changes in the overall patterns associated with data breaches (Kaur et al., 2023). On the other hand, the use of machine learning approaches is capable of improving the overall outcome of the systems while preventing any kind of future risks associated with Tesco PLC. The threat detection system developed by the use of these technologies can help the organisation to reduce the overall time of the risk responses.

Blockchain Technology

The use of this technology helps in the maintenance of the services of transactions and supply chain in the organisation Tesco PLC. Through the involvement of proper blockchain technology, the data integrity approaches can be maintained while focusing on the maintenance of the issues of the supply chain (Feng et al., 2020). The use of this technology can also help in decreasing any kind of fraud in transaction approaches taken by Tesco PLC while also succeeding in the digital economy.

Cloud Security Solutions

In the organisation Tesco PLC there is a requirement to enhance the relationship between the solutions related to cloud security and the systems of data security as it can help in the management of several important operations. The involvement of different solutions associated with cloud security is important for the implementation of appropriate security solutions related to zero-trust approaches (Salvi et al., 2022). The organisation can also maintain the use of all the effective laws while involving these solutions.

Big Data Analytics

These analytical approaches help in focusing on the maintenance of the security data in Tesco PLC while detecting the current approaches and trends to understand all the associated risks. While focusing on the previous incidents involving the data breach cases the organisation can easily help in the development of better protective approaches. As stated by Akter and Wamba  (2016), the use of this analytical approach can help in gaining useful insights related to the behaviour of the customers as well.

IoT Security

Lastly, the use of these security approaches in Tesco PLC can help in analysing the customer interaction approaches while focusing on the maintenance of the inventory management protocols as well. The use of these systems can also help in decreasing cyberattacks along with increasing the overall digital economy of Tesco PLC as well.

Conclusion

The overall development of this report has helped in focusing on the challenges related to cybersecurity as part of the digital economy in the organisation Tesco PLC. Several challenges have been identified in the organisation and among them, one of the main issues is the involvement of the risks of cybersecurity. For the overall mitigation of all the challenges, an appropriate digital strategy has been selected which can also help in achieving success in the areas of digital economy for the organisation. While focusing on the implementation of the selected approach or strategy an appropriate project plan has also been identified along with the identification of the important key indication and process to ensure success.

Reference List

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