Greg Steinhafel resigned as CEO of Target following the 2013 data breach. In his resignation, he took full responsibility for the breach, but agreed to stay on board as an advisor during the transition.
Target is facing backlash from its customers and has lost millions of dollars to the hackers, customers and banks that had to reimburse their clients following Target's data breach. This breach happened right at "Black Friday" and continued into December 2013. After the breach was discovered, Target and it's board members and financial advisors had to come together to figure out how to prevent this kind of thing from occurring in the future and how to regain the trust of their customers. CEO Greg Steihafel resigned and they were then challenged …show more content…
In my opinion, Steinhafel did not effectively execute all three key managerial roles. I am sure he did well in the interpersonal role due to the fact that he had been an employee of Target for decades.
As far as the information and decisional roles go, he fell short keeping up with monitoring Target's security systems that were designed to prevent data breaches. If he was aware that a hacker had potentially tried to breach their system prior to the massive breach of 2013, did he pass along this information to others that could have prevented the breach and loss of millions of dollars. I do think he made a wide decision when he decided to resign as CEO, but stay on as an advisor to help solve the problems and conflicts that go along with a serious incident such as this.
I think that the steps Target went through after paying out millions of dollars to its customers and agreeing to the terms of implementing and monitoring new, more efficient cyber security systems has really helped. I would have suggested a commercial with the new CEO of Target speaking directly to those affected and making a sincere apology and pleading to the past, present and future Target shoppers for their
Target is facing backlash from its customers and has lost millions of dollars to the hackers, customers and banks that had to reimburse their clients following Target's data breach. This breach happened right at "Black Friday" and continued into December 2013. After the breach was discovered, Target and it's board members and financial advisors had to come together to figure out how to prevent this kind of thing from occurring in the future and how to regain the trust of their customers. CEO Greg Steihafel resigned and they were then challenged …show more content…
In my opinion, Steinhafel did not effectively execute all three key managerial roles. I am sure he did well in the interpersonal role due to the fact that he had been an employee of Target for decades.
As far as the information and decisional roles go, he fell short keeping up with monitoring Target's security systems that were designed to prevent data breaches. If he was aware that a hacker had potentially tried to breach their system prior to the massive breach of 2013, did he pass along this information to others that could have prevented the breach and loss of millions of dollars. I do think he made a wide decision when he decided to resign as CEO, but stay on as an advisor to help solve the problems and conflicts that go along with a serious incident such as this.
I think that the steps Target went through after paying out millions of dollars to its customers and agreeing to the terms of implementing and monitoring new, more efficient cyber security systems has really helped. I would have suggested a commercial with the new CEO of Target speaking directly to those affected and making a sincere apology and pleading to the past, present and future Target shoppers for their