Whilst cyber security may seem confined to the realm of technology, some organisations fail to recognise its interconnectedness with overall business strategy. Despite it typically being a topic of conversation within a technology department, its reach extends far beyond that, impacting every department in an organisation.
Cyber security is intertwined with all business operations, due to the integral nature of technology in today’s organisations. The majority of modern businesses rely on computer systems, so it is wise to integrate overall strategy into this essential business function. Furthermore, this fact means that a haphazard approach to cyber security can cause significant business-wide ramifications. Think about all the areas of your business that have become digital – now think of the cyber risk associated with that.
This points out that directors should not be spectators in cyber security strategy – they should be overseers. Their guidance ensures that cyber security strategy aligns with business goals, guaranteeing a coordinated and integrated approach that is the most beneficial to the business.
Effective cyber security demands sufficient resources, and resources demand funding. A lack of resource allocation is a dismissal of the importance of cyber security and an undermining of the organisation’s commitment to protection.
Without the boardroom’s engagement and agreement, the necessary resources cannot be acquired. The financial implications of a cyber-attack can be debilitating; it is imperative that boards recognise cyber security is a strategic investment in the long-term continuity of their organisation. Whether this means hiring a cyber department, or outsourcing a team of professionals, a proactive approach is effective only if a board is willing to commit.
It is a fact that boards shape organisational culture, through their setting of values and overall mission of the organisation. Their influence spreads throughout the company, therefore they possess the responsibility of advocating for high cyber security standards.
Advocacy to prioritise cyber security from the board fosters a workplace culture that is ingrained in security awareness and places importance on protection: an invaluable asset to all organisations. This culture acts as its own layer of protection due to increased employee vigilance, whilst simultaneously radiating a sense of trust to stakeholders, customers and clients.
Initiating cyber security discussions within the boardroom establishes a strong foundation of digital protection. By aligning strategies, allocating the necessary resources, and fostering a security-first culture, organisations are well-equipped to navigate the evolving cyber threat landscape. The boardroom undeniably plays a crucial role in both establishing and sustaining the cyber security of a business.
Solutions start with conversations but are only effective with action. Actions that directors should take, considering the important factors discussed in this article, include:
