Classification and new threat perceptions related to security services: Their role in providing a safe environment for economic development

The word security has its origin from the Latin word cura which means to take care of. It not only connotes freedom from fear and risk but also denotes a high level of safety and protection. A security management system involves aspects like protection of physical assets, IT assets, and provision of personal bodyguard services. In this article, we understand the various aspects of security as well as the related threat perception. We also examine the role of security in promoting economic growth.

Classification: Gradation in five levels

Depending upon the various levels of threats, security can be graded into five main types. The lowest tier of security is called minimum level security. This type of security involves external checks outside an organization and is suitable for those companies that are located in low-risk areas. The second tier of security is called low level security. In this type of security, protection is provided not only at the boundaries but also within an organization so that any type of unauthorized activity is kept under check. The third tier of security is called medium-level security. In addition to the above-mentioned security levels, this type of security also forecasts any type of threat and directs security guards to take action in advance. The fourth tier of security level is called high-level security. This is a type of security that facilitates complete protection by working according to a prescribed framework. The highest level of security is called maximum security level. This type of security provides an integrated system in which various security forces coordinate to keep different types of threats under check.

New and emerging threats: The changing threat perceptions

In the present time, threats are emanating from various sectors. New and emerging threats are forcing us to rethink our security aspects and modify them accordingly. Let’s take a look at some of the threats which need to be taken care of.

  • New and advanced devices are emerging that can be controlled from a remote distance. These devices have forced us to bring appropriate changes in our security management like inception or threat detection systems.
  • New challenges are being posed by biological and nuclear weapons. This is forcing us to bring appropriate changes in our security infrastructure and incorporate new threat detection systems. We are now switching over to forecasting systems that can predict various kinds of threats in advance and alert our security system.
  • The expansion of banking and financial services and other industrial services to rural areas of the country has increased the corresponding operational risks. This is because the majority of areas where new industrial and financial sectors are blossoming are unsecured and devoid of any security cover. This calls for increased last mile security in order to cover those areas that are much prone to risks.

Security services provide a breeding ground for industrial and economic development

Security Services are inevitable for safeguarding the social and economic services of a nation. An appropriate security blanket protects industrial areas from different types of threats, ensures continuity of businesses as well as provides a peaceful environment for various stakeholders to work in. It is an open fact that a safe and secure environment attracts investment from various countries and leads to economic growth. In addition to this, security cover for our industries enables them to work with a higher degree of freedom and authority. We have seen that the countries which have various lacuna in their security cover do not attract sufficient investment and FDI which can accentuate economic growth.

This is true for most of the African countries where security architecture is generally weak. On the other hand, the Southeast Asian countries are a hub of foreign direct investment due to a robust security architecture that provides adequate protection to the industrial set up there. Similarly, when we look at the Indian context, we find that security services are highly advanced as well as domain-specific. The central industrial security force is a wing of security services that are exclusively dedicated to the protection of industry operating in the public sector. This type of security service provides protection around the clock and ensures that a peaceful working environment is provided to the employees there. This highlights the importance of security services in the financial domain in general and the industrial sector in particular.

Concluding remarks

In one word, the security fabric of a country is one of the most important factors for ensuring sustained financial and economic growth as well as providing a safe environment for the people to continue their business operations with a high level of freedom.