Cyber security is one of the most neglected sectors in business. When cyber security is mentioned, most business owners tend to be less concerned due to ignorance or misinformation. Most businesses are advancing with technology but do not have a security system that matches such advancement. Security is the root of all businesses, most especially the ones that make use of digital facilities. Let's delve into cyber security, its importance, and how it can be integrated into a business strategy.
What is Cyber Security and Business Strategy
Cybersecurity is a protective or defensive mechanism used to protect computer systems, networks, programs against cyber attacks by cyber criminals, spammers, hackers etc. Cyber security is essential in any technological setup due to the increasing rate of cyber crimes, threats, and attacks. Advanced technology has made it easy for cybercriminals to hack their way into various systems to cause havoc without leaving any trace.
Business strategy is the business blueprint that consists of goals, plans, actions, and initiatives that will lead to the success of the business. Every functioning business has a strategy and various factors are considered before a business strategy is set up. These factors include business environment, competitors, money availability, market, quality, the quantity of products and services, etc. In all the factors considered, you can hardly see security in the list, most people don't include security and if included, it's being treated with minimal interest. This act is quite disheartening because security is the root of every business.
Most businesses are going digital and they are quickly adapting to newer technology but only a few use an optimal security suitable for such an upgrade. Most businesses think cyber security should be handled by the security officers only, therefore no other person has an interest in it, not even the management. If security receives half the attention that other profitable sectors receive then some businesses would still be very much active. Cyber security should be prioritized by business owners mostly while setting up a business strategy.
Due to technological evolution, cybercriminals have access to sophisticated equipment which makes cyber attacks faster and easier, when they detect that your business security system is vulnerable, that makes your business an easy target. With strong cyber security, all this can be prevented.
Why is Cyber Security Important
Trust Building: It is said that trust is hard to earn but easy to lose. Naturally, humans try to avoid risk a lot, most especially the risk that is not worth it. No one wants to associate or partner with a business organization that has a weak security system. People adore confidentiality and safety, they always want to be sure that their assets are safe and their investments are protected.
Having an open security system in a business will lead to a lack of customer trust and loss of the partnership. Cyber security helps the investors feel secure in their dealings with your business enterprise. It builds the required trust and therefore increases patronage. If you run an eCommerce business like AliExpress, your website should be reliable and simple to use for clients. Problems with purchasing a product, such as the AliExpress error CSC 7200026, should be simple to fix.
Assets Protection: Most businesses are quickly advancing in the use of digital devices and most of their information is stored in the online space for safety. In most business settings the business strategy is the most valuable asset because it helps map out the way forward for the business, such information may be stored in the cloud or any secure online location. Having little or no security puts assets at risk of being stolen or destroyed.
Most cybercriminals are after the money, they search for weak systems to invade and assets to steal and resell to their competitors in order to make money. Some are just there to destroy the business. When optimal cyber security is installed, these disasters can be prevented and assets can be stored without fear of theft.
Human Error Prevention: Cyber security is not just relevant for protection against cyber crimes or attacks but it also helps safeguard the system against human error. Most businesses have been affected by human error, this is a situation whereby an employee will ignorantly open a malicious site that will invade the computer system causing it to crash. Cyber security installation can help prevent this and cyber security training is quite important for all staff of the company or business including the management, this is why it was earlier stated that cyber security is not only the business of the security officers but that of everyone.
Reputation Building: A business enterprise or organization which is attacked by cyber criminals suffers a damaged reputation. This will lead; to low patronage because no one wants to identify with a failed system, decreased staff or employees, and decreased partnership because no one wants to partner with a company that cannot offer safety over assets and over valuable information. The company might not survive the attack and this might lead to a total shutdown of the company. This is why Cyber security should not be taken lightly. Cyber security helps prevent these damages. It does not only protect the business but brings more income generation and partnerships.
How to Integrate Cyber Security into Your Business Strategy
Cyber security is not a plan that should be implemented after a business is faced with cyber challenges but it should be a part of the business strategy from the onset of the business. There are different ways to align or integrate cyber security with business strategy, these include;
Understand Cyber Security and Its Impact on Your Business Strategy: The mistake most entrepreneurs make is separating security from business by giving security plans to the security and marketing plan to the management. Both security and business should work together in order to know how cyber security will affect the business, the cost of getting optimal cyber security, and the resources needed for acquiring it. This plan will also include how marketing is affected by cyber security and if it will increase the rate of business or decrease it.
Cybersecurity as a Cost: The type and quality of cybersecurity acquired by a business depend on the level of risk the company is planning to take. A small company that does not do much online can acquire cyber security for its size bearing in mind that cyber security is a cost that the business should be able to afford. Companies that have more involvement with the online space should bear in mind that they have to install a security system that suits such risk.
Cybersecurity Training: In most business setups, plans are made for employees to acquire knowledge of business especially, this is done by setting up training and courses that employees undergo to get optimal knowledge of the business. The same importance should be given to cybersecurity. Employees should be trained in cybersecurity in order to avert the problem of human error in the security system.
Evolution: While making a cybersecurity and business strategy integration, evolution should be taken into consideration. Business evolution and security evolution. Cybersecurity evolves regularly and the company should make provision for an automated upgrade same with the business. A business might evolve by introducing more technology and thereby becoming more open to risk, the security system should be considered in such situations and it should also be given an upgrade that befits such level of technology.
Cybersecurity should not be an afterthought in a business setting, it should go hand in hand with every other plan as it forms the growth base of any business with successful potential. The importance of cybersecurity cannot be overemphasized and should be taken seriously by business owners as it does not only protect a business but also builds trust and increases partnership and income generation.
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