American industrialist Henry Ford II once said that “The best we can do is to size up the chances, calculate the risks involved, estimate our ability to deal with them, and make our plans with confidence.” While Ford and others in the American Industrial Revolution faced vastly different risks compared to today’s modern digital business landscape, the uncertainties of risk and how to best manage these remain a critical advantage in business success.
This World Economic Forum article covers:
Cyber crimes are set to cost governments and organizations $10 trillion by 2025.
As new cyber threats emerge, boards of directors must develop cyber risk plans to ensure their organizations have greater cyber resilience.
Cyber risk strategies should align to financial analysis using clear and understandable language.
The complete article can be found here.
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