Strengthening Business Resilience Through Proactive Cyber Risk Management

Abstract

In today’s environment of digital infrastructure driving almost every business activity, the issue of cyber risk has shifted from being a purely technical aspect to becoming a key element of business resilience. Companies can no longer afford to approach cybersecurity as a secondary concern or something to address only out of obligation. Rather, cyber risk management needs to be incorporated into all aspects of planning, operations, and organizational culture. Business resilience – an ability to plan for, withstand, and recover from disruptions – relies increasingly on the degree of successful management of cyber risk prior to the occurrence of the event. This paper addresses the importance of proactive cyber risk management for business resilience, analyzes the methods for achieving this goal, and provides practical recommendations.