Cyber security threats are growing in numbers and severity every year. A cyber threat is no longer just an IT issue. It brings serious business risks that include financial and reputational damage and loss in customer confidence. The widely publicized Facebook-Cambridge Analytica data scandal was a major political scandal in 2018 following which Facebook’s stock price took a serious hit. With the rapid growth in cybercrimes, it has become crucial for businesses to develop and implement a substantial cyber security strategy.
Every business should aim to secure its cyber space with a robust cyber security strategy that focuses on the following guidelines:
- Establish a defense mechanism against cybercrimes by securing the cyberspace.
- Boost resilience to threats and be equipped to defend against a gamut of threats.
- Take all stakeholder interests into consideration.
Keeping the above guidelines in mind, following are some elements of strategy that you can work with.
Establish a vision
It’s always a good idea to be clear about your vision. Brainstorm how a cyberattack can affect your business and how cybersecurity procedures can help. Review your current risk prevention measures to assess how well your organization is protected. Determine where your vulnerabilities lie and what you need to do to bridge the gap. Set a time frame for where you want to be in terms of cybersecurity and get senior leaders to buy into the vision.
Build a strong team
Building the right security team needs some thought. Depending on the needs of your business you may need certain skill sets in your cyber security team. Apart from IT professionals, have a good mix of skills to include crisis and emergency management, risk management, communications management and organizational change management.
It’s always easier to implement cyber security earlier than later. Make sure to have one from the early stages. Besides, resources are limited so prioritizing significant critical business operations would be pertinent. Focus on critical aspects of your business that need the most attention. Cover every facet of your organization from people, processes and technology.
Revisit and enhance your current controls
Cybersecurity measures are evolving daily. Make sure to revisit and revise current controls you have in place. Technology can get outdated. It is important to be aware of the latest technology trends in order to safeguard your assets. A recent breakthrough in cybersecurity is the use of artificial intelligence that is being widely adopted by organizations these days. Explore such new and emerging technologies to determine if replacement and enhancement is needed. Be proactive rather than reactive in adapting to new technology.
Create a comprehensive response plan
Even with a robust cybersecurity framework in place, cyberattacks can happen. A comprehensive response plan can serve as a guide to mitigate damages as a result of an attack. A detailed response plan starting from the basics will help you take the right measures in order to restore business continuity. Planning for contingencies is vital for a powerful incident response design. Document best practices to learn from past mistakes and establish a solid foundation of cyber hygiene.
Implement cyber security training programs
Having strategies and plans in place serves no value if you are not raising awareness. Implementing training programs to keep employees abreast of cyber security measures and practices will help reduce human error considerably. It will also help establish a culture that makes cyber security everyone’s responsibility. Using easy to understand training programs will make employees embrace cyber security.
Cyber security strategies could vary depending on the organization. However, the elements discussed above can generally be used across any industry looking to develop a cyber security strategy. A good strategy builds momentum and makes changes visible. It involves your entire ecosystem that works together in harmony to deliver results and drive the maximum return on your cyber security investment. Technology is omnipresent and so should be a cyber security strategy.