Professional Documents
Culture Documents
Dec 20th
Target posts letter from CEO Greg Steinhafel accompanied by
videos
Jan 10th
70 million credit/debit accounts affected
The Crisis
Company Response
1. Guests (customers)
70 million accounts at risk
2. Financial Institutions
Visa
MasterCard
Discover
American Express
3. Media
USAToday
NBC
BusinessWeek
Forbes
4.
5.
Experts
Research
security
Government officials
Secret service
Attorney generals
Department of justice
Highlighted Stakeholders
1. Customers
CEO issued statement, updates, emails
2. Financial Institutions
alerted, provided list
3. Media
CEO issued statement, press releases
4. Experts
security media updates
5. Government officials
general counsel hosted call, partnering
Stakeholders Addressed
Social Media
Reputation Impact
According to YouGovBrandIndex:
February 14: +12% perception
January 13: -35% perception
Reputation Repair
Pros:
Took action
Good word choices
seemed personal,
guests, trust
Pulled ad campaign
Offered compensation in
a few forms
Q&A page on their
website, updated
information as it came in
Cons:
Didnt say anything until
someone else broke the
story
Story didnt break until 3
weeks after breach
occurred (perhaps due to
further security concerns)
Estimated impact
changed from 40-70
million cards
Assessment (SCCT)
Recommendations
Krebs, B. (2013, December 18) Target Investigating Data Breach. Retrieved from http://krebsonsecurity.com/2013/12/sources-target-investigating-data-breach/
https://twitter.com/search?q=krebsonsecurity.com%2F2013%2F12%2Fsources-target&src=typd
http://bigstory.ap.org/article/fury-and-frustration-over-target-data-breach
http://www.fool.com/investing/general/2014/04/15/why-the-target-data-breach-may-have-been-a-great-t.aspx
http://www.jdsupra.com/legalnews/many-lessons-for-companies-to-learn-afte-19288/
Steinhafel, G. (CEO) (2013, December 20) A message from CEO Gregg Steinhafel about Targets payment card issues. Retrieved from
https://corporate.target.com/discover/article/Important-Notice-Unauthorized-access-to-payment-ca
Kosner, A. W. (2013, December 20) Targets Biggest PR Mistake with Credit Card Security Breach. Retrieved from
http://www.forbes.com/sites/anthonykosner/2013/12/20/targets-biggest-pr-mistake-with-credit-card-security-breach/
DInnocenzio, A. (2013, December 20) Target customers angered over response to credit-card data breach. Retrieved from http://www.dailynews.com/general-news/20131220/target-customers-angered-overresponse-to-credit-card-data-breach
Belt, S. (2013, December 20) Targets Credit Card Breach Leads to Customer Service Nightmare. Retrieved fromhttp://blog.hubspot.com/marketing/target-credit-card-breach-customer-service-nj
Eversley, M. and Hjelmgaard, K. (2013, December 19) Target confirms massive credit-card data breach. Retrieved from
http://www.usatoday.com/story/news/nation/2013/12/18/secret-service-target-data-breach/4119337/
LIfeLock, (2013, December 24) Target Breach Update: What Your Bank is Saying. Retrieved from http://www.lifelock.com/education/target-breach-update
Target website (2013, December19) Target Confirms Unauthorized Access to Payment Card Data in US Store. Retrieved from
http://pressroom.target.com/news/target-confirms-unauthorized-access-to-payment-card-data-in-u-s-stores
http://www.cnbc.com/id/101287567
http://www.bankofwedowee.com/pdf/Target_Security_Breach_Notification122013.pdf
Elgin, B. (2013, March 26) Three New Details from Targets Credit Card Breach. Retrieved fromhttp://www.businessweek.com/articles/2014-03-26/three-new-details-from-targets-credit-card-breach
Riley, M., Elgin, B., Lawrence, D. and Matlack, C. (2013, March 13) Missed Alarms and 40 Million Stolen Credit Card Numbers: How Target Blew It. Retrieved from
http://www.businessweek.com/articles/2014-03-13/target-missed-alarms-in-epic-hack-of-credit-card-data
Bennett, J. (2014, February 25). Target stock should rise more as data breach impact fades. Barrons. Retrieved from
http://online.barrons.com/news/articles/SB50001424053111904148504579406923001701150
Cheng, A. (2014, April 2). Target data breach has lingering effect on customer service, reputation scores. Market Watch. Retrieved from
http://blogs.marketwatch.com/behindthestorefront/2014/04/02/target-data-breach-has-lingering-effect-on-customer-service-reputation-scores/
Fiegerman, S. (2014, December 2013). Targets credit card breach is bad, but wont hurt business much. Mashable. Retrieved from http://mashable.com/2013/12/19/target-credit-breach-impact/
Finkle, J. & Wahba, P. (2014, March 14). Target warns data breach could be worse than reported so far. Reuters. Retrieved from
http://www.reuters.com/article/2014/03/14/us-target-dataprotection-idUSBREA2D1KX20140314
Skariachan, D. & Finkle, J. (2014, February 26). Target shares recover after reassurance on data breach impact. Reuters. Retrieved from
http://www.reuters.com/article/2014/02/26/us-target-results-idUSBREA1P0WC20140226
The Bureau of National Affairs. (2014, January 13). Target reports direct financial impact from customer payment card breach. Bloomberg BNA. Retrieved from
http://www.bna.com/target-reports-direct-n17179881326/
CBS Minnesota. (2014, January 10). Massive Target breach could have lasting effects. CBS Radio Inc. Retrieved from
http://minnesota.cbslocal.com/2014/01/10/target-70m-may-have-been-affected-by-data-breach/