Today, cybersecurity is on all our minds. Every other day, we get news of another cyberattack. As more organizations struggle to keep up with the onslaught of these new threats, many are asking: “What can we do to strengthen our cybersecurity posture?” When we want to quantify it, consider the concept of risk. In its simplest form, the risk associated with a system is the impact of it malfunctioning, multiplied by the likelihood that a malfunction will occur.

As cyber attacks increasingly threaten every aspect of business and grow in volume and scale, companies will be forced to take new measures to address cybersecurity risk holistically, integrating it more aggressively into their enterprise risk management.

After the 2017 Brazilian Grand Prix, a Mercedes F1 Grand Prix team minibus full of team members leaving the F1 Circuit in Sao Paulo was robbed at gunpoint. Valuables were stolen from the minibus during the attack. What could security personnel have done differently to mitigate the risk of such an attack? 

The rapid pace of technological developments and disruptive innovations, along with organizational resistance to change, are the top concerns for boards of directors and business leaders around the world heading into 2018.