Cybersecurity isn’t just crucial; it’s an essential priority for business success. Besides keeping business operations running smoothly and optimizing performance, it establishes secure relationships with customers and suppliers. CEOs who neglect cybersecurity expose their organizations to significant risks.
A study called “The Cyber-Resilient CEO,” aiming to understand how secure CEOs are taking control of cybersecurity, pointed out that many CEOs recognize cyberattack threats, but most lack confidence in their organizations’ ability to prevent or minimize these attacks. A reactive approach to cybersecurity, learning to be resilient only after a breach, results in increased risks and higher remediation costs.
In this practical guide, we share five actions on how to minimize risk and put cyber resilience at the center of your reinvention efforts:
1 – Incorporate Cyber Resilience from Business Inception
Having a cybersecurity outlook integrated into the business strategy is a fundamental competitive differentiator. Cyber-resilient CEOs stand out by incorporating cyber resilience into their business strategies from the start, demonstrating their commitment to protecting their organizations against evolving threats and maintaining a robust security posture.
2 – Establish Shared Responsibility in Cybersecurity
Acknowledging that a security culture starts from the top, resilient CEOs promote shared responsibility throughout the organization. They are more proactive in creating a cybersecurity culture that involves employees at all levels.
3 – Protect the Digital Core Preparing for the future is necessary now.
Cyberattacks are increasingly leveraging new technologies, such as quantum computing to break encrypted algorithms. Anticipating future threats, resilient CEOs ensure the security of customers, employees, and partners, being better prepared for reinvention.
4 – Extend Cyber Resilience Beyond Organizational Borders
Cyber resilience extends beyond improving the maturity of the information security function. As cyber risk has become a primary business risk, resilient CEOs ensure that senior management assesses and addresses risks as part of the overall Enterprise Risk Management (ERM) of the company.
5 – Continuously Embrace Cyber Resilience
Resilient CEOs implement ongoing practices to strengthen their defenses, acknowledging the constantly evolving nature of cyber threats. They understand that cybersecurity isn’t a one-time initiative and recognize the need for continuous efforts to bolster their defenses and adapt to stay ahead.
By following these actions, cyber-resilient CEOs detect, contain, and remediate cyber threats faster, resulting in lower breach costs and superior financial performance.