ABOUT INITECH NOVELTY, INC.
Initech Novelty, Inc. – a subsidiary of Initech Inc. – is a fast-emerging, leading online retailer of cult following novelties. The company offers independently certified novelty items and provides an informative, secure shopping experience over the Internet while insuring a 100% satisfaction, 30-day money back guarantee. Initech Novelty specializes in movie set props and costumes from past and present movies and television shows that have strong cult followings. As an online retailer, the company’s customers usually pay 30% to 60% less compared to traditional brick and mortar stores. All their novelty items are certified by certified novelty appraisers, professionally packaged, insured and quality inspected prior to being shipped.
ABOUT INITECH, INC.
Founded in the early 1990s, Initech originally developed ATM banking transaction software. In 1999, the company fell victim to a devastating fire at its main headquarters- the actual cause of which remains undetermined today. Initech was not able to recover from the fire quick enough to maintain business continuity. To compound matters, it was rumored that in the days leading up to the fire, that an Initech software developer had encoded logic in its software to commit financial fraud in a covert manner – often referred to as a “salami slicing”. Ultimately, there was enough service disruption and lack of trust with Initech’s software that almost all of its clients replaced their software with Initech’s primary competitor – Initrode. Initech filed for Chapter 11 bankruptcy in late 1999 – shortly after the fire – to reorganize.
Initech emerged from bankruptcy in early 2008 and launched Initech Novelty, Inc.; with plans to create additional subsidiaries in the next 18 months. With a new executive team, high creditor confidence, a simple business model, minimal operational expenses, and its close proximity to several transportation hubs – Initech, Inc. is well positioned to service both domestic and international markets.
About 8 months prior to the launch of Initech Novelty, Inc. the Initech creditor oversight committee and Inittech executive committee agreed to hire a security manager that had both security architecture, strong information security management skills, experience with regulatory compliance and industry standards. The position was deemed critical given the nature of Initech’s new business model and to ensure a degree of trust with a very discriminating consumer base. Prior to accepting the position, the security manager negotiated with the company to have a professional service consulting firm specializing in information security to conduct an assessment on the information security posture of Initech. The assessment was to be completed no more then two months prior to the official re-launch of Initech and would serve as the foundation of an information security program.
The results of the assessment are below. The professional consulting services firm performed the assessment utilizing ISO 27002 standard and gave Initech scores based off the Capability Maturity Model (with no extensions). Scores represented have been accepted by the security manager as well as the Initech executive committee.
Capability Maturity Model (CMM)
(1) – Ad-hoc / Chaotic
(2) – Repeatable
(3) – Defined
(4) – Managed
(5) – Optimized
FAIR Loss Magnitude Table for Initech, Inc.