Cybersecurity as a Matter of Competitive Advantage
Understanding cybersecurity as more than the sole fulfillment of regulatory requirements
Oliver Stahl | Roman Baecker | Dr.-Ing. Michael Bartholdt | Sebastian Roth | Arber Sejdiu
Jan. 2021
| White Paper
| Englisch
Cybersecurity as a Matter of Competitive Advantage
Understanding cybersecurity as more than the sole fulfillment of regulatory requirements
Cybersecurity is becoming a growing matter of competitive advantage for companies as a secure product or service turns out to be a unique selling point in an environment of ever-increasing cyber threats. The trend towards cybersecurity is driven by increasing connectivity – in 2030, the average consumer will own ten connected devices. Further, pressure from stakeholders such as customers and policymakers is growing. The management must prepare their companies by adopting a holistic cybersecurity framework over the whole life cycle, allowing for cross-functional and -hierarchical collaboration. All four framework levers – cybersecurity strategy, processes, organization and cultural awareness – should be in line with the company’s cyber risk profile. This white paper provides insights on cybersecurity and on the proposed framework.
Management Summary
- Cybersecurity is becoming a matter of competitive advantage for companies due to increasing connectivity and pressure from diverse stakeholders such as customers and policymakers
- Preparing for cybersecurity requires the adoption of a holistic framework/management system, which allows for cross-functional and -hierarchical collaboration
- A holistic approach to cybersecurity is achieved through aligning four well-known levers: strategy, processes, organization, and culture with technology as enabler
- Being cyber secure means covering the whole life cycle - from building in preventive protection into your products' and company's ecosystems, to effectively detecting and responding to potential intrusions through covering vulnerabilities by updating routines
- As cybersecurity is people-driven, ensure cultural awareness by adopting new methods of training and communication, such as a cybersecurity attack simulation
- Keep up the pace with new trends in order to anticipate cyber risk, such as the lack of a qualified workforce
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