Board of Neglectors
Looking into the disconnect between the political issue of cybersecurity for companies and the actual manner in which companies are addressing the issue, the Harvard Business Review offers some insights into what isn’t being done, and why. Of particular note in their findings:
- 38% of responding board directors indicated a “great” or “very great” level of concern for Cybersecurity, and 34% indicated a “great” or “very great” level of readiness
- 8% of board directors viewed cybersecurity as one of the three biggest challenges facing their company in meeting strategic objectives
- 24% of respondents indicated their board’s effectiveness in cybersecurity processes was “above average” or “excellent”, last among 23 categories polled
- 37% of board directors indicated keeping on top of risk and security issues was challenging, first among the categories surveyed
With the average cost of a data breach being estimated by IBM as $4 million, the gap between perception and need continues to seem out of alignment in the board room.