Understanding cyber risks and their implications for businesses
Cybersecurity is often an afterthought, a contractual requirement, a compliance checkbox, or a tender requirement mixed in with other functional requirements. Rarely is it included as an embedded strategy within a business. As a cyber risk is perceived as complex and intangible (until a company is victimized by a cyberattack), many executives are challenged to understand and evaluate the need to incorporate it into their business plan and instead approach it as enterprise risk in general.
The following list details some questions executive leaders should ask about the cybersecurity strategy at their company:
- “What is my cyber ROI?”
- “What is my exposure?”
- “What are my losses in the event of a cyberattack?”
- “Will a cyber event cause physical damage to our systems?”
- “How much should I spend on cybersecurity, and what should I prioritize...
