What’s missing is a fundamental shift in perspective. Cyber security must be seen not just as a technology issue, but as a business imperative. There needs to be a mindset shift whereby executive management steer their organisation’s cyber efforts. A “technology dominant” approach has never and will never solve the problem, despite technological advancements.
Business leaders have a crucial role in managing cyber security as an operational risk, integrating it into the company's overall resilience strategy. As a business leader, you are the driving force in enhancing your organisation’s overall cyber resilience. By posing the right questions to your security and technology teams, you can shift the focus to achieving full transparency on the organisation’s genuine risk exposure and help these teams to find sustainable solutions that go beyond the implementation of tools. There are five key areas where you play a critical role:
A mix of technology reliance, geopolitical dynamics, underinvestment, and complexity has created a perfect storm. At Deloitte, we see cyber threats as a business risk that must be addressed with the full backing of business leaders at the executive level. In today's digital world, business success hinges on how well cyber is integrated into organisational initiatives. Cyber security does not have to be daunting, overly technical, or costly. There is also no need to chase the latest technological hypes, but rather to focus on getting the basics right first. As a business leader, you should direct resources towards activities that have the greatest impact on cyber security, including simplifying and modernising your business processes and applications.
If you would like to know more about taking a holistic and business focused approach to cyber security, contact us.