How cyber savvy is your organization? Considerations for the board
It’s no longer a matter of whether a cyber breach will occur; it’s when it will occur if it hasn’t already. Globally, in the first half of 2015, more than 245 million data records were stolen by cyber hackers every single day—or 16 records per second.
Cyber attacks will happen despite the organization’s best efforts to prevent them. The key is how quickly and effectively the organization responds. Boards play a key role in ensuring the organization is cyber savvy, a responsibility with personal implications for directors—following some cyber breaches, shareholders have called for the removal of directors or have filed derivative lawsuits against them.
How well prepared is your organization and your board for a cyber attack? Learn more: Download “How cyber savvy is your organization?”
Cyber security is just one of the challenges facing boards of directors. From the ongoing volatility of the global business environment to the increasing expectation of stakeholders, the demands on boards continue to grow. Boards, therefore, need to identify the essential activities – the ingredients for success – and strike an appropriate balance in terms of the time and effort devoted to each of them.
Learn more about the other critical issues facing boards in 2016 in Directors’ Alert “Ingredients for success: striking the right balance.”