Definition: A "Vulnerability" is a weakness in a personal computer or in the information infrastructure of a business or organization.
Susceptibilities in a system can come from a variety of sources: hardware, software, business processes, procedures, policies, personnel and even mistakes can all spawn flaws in a computer system that malicious users exploit. The existence of these potential exploits becoming a reality must be mitigated so that threats can't be realized.
A vulnerability analysis is recommended for an organization.
Its Relevance: A business or organization needs to have an information security plan that is adopted by its Board. Otherwise, the organization may consider itself as failing to fulfill one of its primary fiduciary responsibilities. Being unaware of system vulnerabilities is dangerous. Operating in a manner that ignores the realty of risks can lead to lawsuits being filed and won by stockholders and individuals who are harmed by careless behavior.