Evolution of Private Security - 1258 Words

Running Head: Evolution of Private Security Evolution of Private Security Zachary Cuonzo Kaplan University CJ210-04 Professor Preston March 16, 2011 The end of the Second World War saw an increase in the awareness of individual rights such as the right to be protected from harm at all costs. Though the demand for private security arose in ancient times, the Second World War heightened its demand and saw the evolution of private security practice boom into a multibillion industry all over the world. The war made the people wary of sabotage and espionage which as the order of the day making the need for security high. The demand for private security was especially high at the war production plants, with each claiming to be†¦show more content†¦The criticality principle defines the impact of loss in terms of dollars and it entails the direct and indirect costs. If a company executive uses the cost benefit analysis approach to justify the investment in security, it is likely that the cost of security will be greater than the benefit of protection against potential risk. Most company executive fail to take into consideration the overall costs involved in a security breach. Using the criticality principle, other costs such as replacement, including the temporary replacement costs, must be accounted for. Downtime is the cost of the inability to function as a result of the loss. Insurance costs are also likely to go higher if the loses are on the rise. The loss of the position of the company in the marketplace is very difficult to regain once it has been lost. This is due to the failure to deliver the demanded product to the consumers, who is likely to look for an alternative. These are some of the important factors that highlight the importance of security in the reduction of costs that are incurred as a result of loss. It is possible to merit and quantify security risks using data obtained from the criticality and probability principles and the creation of a vulnerability matrix (Robert and Gion 1998). The issue of insecurity is very sensitive and is close to the hearts of all Americans. T his has prompted more and more individuals to seek the services of alarm companies andShow MoreRelatedThe Evolution Of Private Security1487 Words   |  6 PagesThe Evolution of Private Security One of the most important components of the security and safety of individuals and the society in general is the private security industry. This industry has constantly evolved since its inception to an extent that it is currently responsible for safeguarding most of the country’s institutions and the critical infrastructure systems. 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