Cybersecurity: Risk management framework and investment cost analysis

In Lee

Business Horizons, 2021, vol. 64, issue 5, 659-671

Abstract: As organizations accelerate digital transformation with mobile devices, cloud services, social media, and Internet of Things services, cybersecurity has become a key priority in enterprise risk management. While improving cybersecurity leads to higher levels of customer trust and increased revenue opportunities, rapidly evolving data protection and privacy regulations have complicated cybersecurity management. Against the backdrop of rapidly rising cyberbreaches and the emergence of novel cybersecurity technologies such as machine learning and artificial intelligence, this article introduces a cyber risk management framework, discusses a cyber risk assessment process, and illustrates a continuous improvement of cybersecurity performance and cyberinvestment cost analysis with a real-world cybersecurity example.

Keywords: Cybersecurity; Cyberthreats; Risk management; Risk assessment; Cyberinvestment; Data security; Cybercrime; Cyberattack; Cybersecurity breach (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:bushor:v:64:y:2021:i:5:p:659-671

DOI: 10.1016/j.bushor.2021.02.022

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