“ Unlike other positions , CEOs don ’ t have the luxury of spending all their time on one project or issue ”
Q . HOW CAN ORGANISATIONS SEAL THE DISCONNECTS BETWEEN DECISION-MAKERS ?
» The first step to risk management would be to assess the impact of a cyberattack and how the organisation would be affected in case of a loss of data . Only 38 % of respondents were confident that they would be able to calculate the possibility of how a ransomware attack would impact the organisation .
Healthy communication between leaders and decisionmakers of an organisation is a must when it comes to planning for and responding to cyberattack . It is vital to keep all stakeholders of an organisation in the loop when it comes to cyber risk . Senior management must be involved in ensuring that the business is prepared in the face of adversity . They should be aware of the financial risk and other business impact that a company might endure after a successful ransomware attack .
There needs to be transparency between the decision makers as well as the stakeholders , and in order to achieve this . All C-level executives have to be involved in the risk assessment . An organisation must invest in analysing how the loss of data will impact their company on different levels , hence the CEO will receive unbiased information about the potential impact of data breaches from various angles .
As ransomware attacks have become not only more frequent but also more successful , an organisation must carve out specialised strategies to ensure that they are ready to face a ansomware attack . cybermagazine . com 23