Digital business creates risk. As we become more digital, the business is exposed to all kinds of new risks inherent to the endeavor. Digital ecosystems, emerging technologies and disruption all bring risk, in addition to opportunity. The business will forge ahead to seize that opportunity, and they must deal with the risk and not just throw it over the fence to IT and security.
People’s perspective on risk is broadening. We used to treat different types of risk in silos. Technology risk. Compliance risk. Audit risk. Operations risk. Now we’re seeing a desire on the part of business leaders to take a more holistic approach to managing risk. The idea is to clearly and defensively connect those risks to business challenges, and do so in a practical way.
You also have the ongoing transition from the goal of business continuity to the goal of greater business resilience. Like the willow tree that bends but doesn’t break, organizations need more of an ability to bend under pressure and not have everything fall apart because there was a ransomware attack. Today’s businesses need to be able to bounce back.
You need to look at the enterprisewide landscape of risk and the solutions available to address it in order to improve business resilience, enable greater freedom to innovate, and facilitate aggressive business stances. Security and risk needs to communicate this message to business leaders. Being prepared lets you do more, not less. There are also many new risk and resilience technologies out there.
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