Corporate Governance & Ethics: Cyber security in organisations

CORPORATE GOVERNANCE AND ETHICS 1
Executive Summary
The mounting dependence of the organisations on the computer systems and the networked
communications for the various business operations exposes the entities towards the threats
of the cyber-attacks and the hacks by the competitors, criminals and the hackers. This raises
the question, as to whose responsibility is to guard the entity from the same, and how it must
be done. The report is a critical evaluation of the various facets of the cyber security and the
resilience process in the organisations, with respect to the defining of the roles and
responsibilities of the top management. The report further describes a step-by-step guide for
the managers to tackle the cyber security issues in enterprise and implement the overall cyber
security policy in an efficient manner.
Cyber security in organisations

CORPORATE GOVERNANCE AND ETHICS 2
Contents
1. Introduction............................................................................................................................3
2. Definitions..............................................................................................................................3
3. Need for Cyber Security in organisations..............................................................................4
3.1 Existence of the human factors.....................................................................................4
3.2 Economic costs of cyber-attacks and breaches............................................................4
3.3 Legal Obligations...........................................................................................................5
3.4 Others..............................................................................................................................6
4. Role of the management of the organisations in cyber security............................................6
4.1 The role of the senior management..............................................................................6
4.2 The role of the chief information security officer (CISO)..........................................6
4.3 The role of the IT Department......................................................................................7
5. Best practice and recommendations.......................................................................................7
6. Conclusion..............................................................................................................................9
7. References............................................................................................................................11

CORPORATE GOVERNANCE AND ETHICS 3
1. Introduction
The advancements in the field of the technological innovations, global business practices and
the competition, have led the organisations to be extensively dependent on the use of the
information technology, in the various business operations. The phenomenon is often referred
to as the information revolution. There is a wide range of increasingly convergent and
linked technologies, which aid in the overall management of the
businesses of the twenty first century (Liu et. al, 2015). Some of the
improved business practices because of the technological integration are
conduct of the virtual meetings and call conferencing, automating tedious
business practices in the field of finance, supply china, logistics, and
more; digital marketing practices and overall corporate social
responsibility.
However, with the increased dependence of the organisations on the
technology, the risk of the exposure of the vital data and information has
also increased.
The report is a critical evaluation of the role of the cyber security in the
modern business organisations. The report begins with a brief description
of the basic concepts of cyber security and the need for the same. In
addition, it critically analyses the role of the management in the
development of the overall cyber resilience. The report concludes with the
guidance to the senior management, in the form of step-by-step
framework to be applied and to be reviewed as per the needs of the
organisation, on the lines of the cyber security principles.