On top of the numerous challenges CEOs face — such as financial pressures, customer and employee satisfaction and talent retention — CEOs are increasingly faced with a new challenge: cyberattacks.
According to the Wall Street Journal, cybersecurity is becoming an increasingly major issue for CEOs, as such attacks can be motivated by almost anything and can compromise valuable intellectual property, in addition to personal information.
Risk of cyberattack increases as companies grow their presence on the Internet and nations' and individuals' cyberattack capabilities increase, according to the article.
Consider the following steps CEOs can take to "raise their cyber game" and prevent cyberattacks, according to WSJ.
1. Build strong teams to protect critical systems and data. According to WSJ, CEOs can increase preparedness and prevent cyberattacks by making sure they have personnel with the right skills to maintain information security. This may mean re-evaluating the amount and quality of cybersecurity investments in both technology and personnel.
2. Look outside for internal security. Engaging with at least one third-party group that can provide information and best practices on cybersecurity can be extremely beneficial, according to the report. For example, by establishing relationships with government agencies, CEOs can become more informed about risks as well as recovery steps in the event of an attack. Additionally, according to WSJ, encouraging "security by design" from vendors for products and services can boost cybersecurity and interconnectivity.