Cyber threats and attacks are constantly growing in number and the complexity all while he business industry in increasingly becoming more complex and digitalized. One of the main factors to look at with the unpredictable, is finances. Small businesses and local government companies are easier to exploit compared to their larger counterpart corporations. Why? Larger corporations have better, more sophisticated intrusion prevention and detection systems. Another factor to look at is how companies or these people are communicating. Digital transformation and IT continue to grow and evolve. With everchanging devices and programs comes the need for constant trainings and classes to understand and gain the knowledge to work with the new information. It is crucial to develop trust relationships within organizations and the external parties (vendors, service providers, customers, etc) because the better the trust, the easier it is to work with someone when problems arise.
Even though there are significant increases to cyberattacks and cyber related issues, the fast-evolving cyber threat environment requires board members and directors to increase their cyber competencies to help understand cyber risks, evaluate the organizations current cyber programs and initiatives, and evaluate the extent of which these cyber risks will face the corporation. For instance, let’s say that we have an entire board of directors that aren’t quite understanding something due to their lack of experience. They can bring in someone from another board or with significantly more experience to have oversight of the organizations cyber security strategies, execution, and their monitoring programs. This board may even seek outside information to help understand the entirety of a cyber security stance.
Some core features that can help with the short arm predictive knowledge:
- Securing the involvement of senior leadership, top executives and the board.
- Raising cybersecurity profiles within organization beyond the IT department, giving security function higher level attention
- Aligning cybersecurity efforts more closely with companies business strategies.
Galligan, M. E., Herrygers, S., & K. (2019). M A N A G I N G CYBER RISK IN A DIGITAL AGE. Committee of Sponsoring Organizations of the Treadway Commission.