Cyber Security in Corporate Governance: Ways to Improve Cyber Resilience and Integration with Cyber Security

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A REPORT ON CYBER SECURITY IN CORPORATE GOVERNANCE
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INTRODUCTION
Cybersecurity is the protection of connected systems such as networks, computers,
programs, information, and data from unauthorized access who can alter, damage, or steal
important information in an organization (Zubilevych 2017). It enhances the safety of both
physical devices, hardware, and software from malicious people. Having effective cyber security
helps minimize risks of cyber-attacks or hacks and protects the unethical use of the systems,
technology, and the network of an organization.
There are tough consequences if you do not protect your systems from cyber-attacks
(Herzog 2011). It can lead to loss of finance to the organization, build a bad reputation and will
later lead to loss of important assets. Any organization is at risk of cyber-attack because the
attackers do not discriminate. They can attack organizations which assume that they cannot be
attacked. Therefore, there is a need to secure organization’s systems and technologies. The login
credentials should have strong passwords which cannot be guessed by anybody for the security
purpose of information and data from hackers and attackers.
These passwords should be private and confidential for the administrators and users only.
This ensures that there is no unauthorized access to the systems. Some attackers input viruses to
the systems which corrupt the information which leads to failure of good performance of the
organization and can easily lead to losses if the systems do not have antiviruses. Some
companies have not yet adopted the cybersecurity measures and the directors think that they
know the threats and risks hence they have not taken any action or measure to prevent cyber-
crimes (Abrams and Weiss 2008). They are waiting until the company gets a risk of data loss so
that they can take the required measures for which it might be too late.

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The magnitude of occurrence of cybersecurity threats qualifies it to become a board level
issue. It is the work of the board to ensure that the systems of the organization are well protected
and ready to deal with security breaches which may come anytime. Failure to take that action
causes a huge cost burden to solve the problem. The board should not fear the issue of
cybersecurity (Zubilevych 2017). It should ensure that it has enough and reliable technical
expertise and also make sure that guiding policies and principles are put into practice and
followed well. The directors should emphasize on policies, strategies, and management of
training staff on Information Technology and company risk management plan.
To manage the cybersecurity issue well, the organization should adopt a top-down
procedure. Cyber threats are a great risk in both economic and national security risk that most
organizations face. The board of directors should create awareness of the threats and put
measures of detecting intrusion of viruses or unauthorized access and how to deal with them in
case they had already intruded (Herzog 2011).
Cyber resilience is the preparedness of an organization to withstand cyber-attacks and
breaches during its business operation (Björck et al. 2015). Security personnel has put in place
measures to detect and protect threats and cyber-crimes. If they do not safeguard the information
and data of the organization, the entire business may fall down and lead to great losses (Haimes
2009).
According to Bodeau, Graubart and Fabius-Greene (2010), we can integrate cyber
security and resilience protocols through developing a strategy, effective training of people
involved in developing and maintaining resilience protocols and cybersecurity, prioritizing

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emerging threats and ensuring cyber resilience is at the forefront. Integrating them will keep the
corporate alive with high performance.
ANALYSIS ON WAYS OF IMPROVING CYBER RESILIENCE AND INTEGRATING IT
WITH CYBER SECURITY
Cyber risks at the board level are increasing hence there is need to improve cyber
resilience according to Goldman, McQuaid, and Picciotto (2011). First, there is a need to have a
cyber-resilience plan in the organization. This plan should incorporate some key issues such as
implementing technical measures like (firewalls, data encryption, and authentication of people
accessing the system), training employees on how to detect and protect cyber risks, and
identifying data and services.
Data breach response plan should also be incorporated in the plan to manage data from
being accessed by unauthorized access as it can be altered, changed or deleted permanently
(Saini, Rao and Panda 2012.). This plan should be checked regularly. Organizations should
always ensure there is protection of their data and information every time both data at hand and
subcontracted service providers. The board should observe the fiduciary obligation so that they
can be trusted in the organization as well as other officials and employees.
Organizations are recommended to go through their insurance agreements and see if there
are appropriate cyber risks insurance investment although this method has not been largely used.
Another way to improve is to build and manage all devices by using secure setups. By doing this,
the security of data and information in the devices is well taken care of. This can be developed