How to Create A Cyber Security Strategy - 4 Step-Guide
Introduction to Developing a Cyber Security Strategy
With any business strategy, but especially security, companies should take a proactive approach to mitigate risks and avoid significant repercussions. Otherwise, smaller, unnoticed threats can potentially snowball to irreversible repercussions. Therefore, owners should invest in developing a cyber security strategy to protect their assets before they experience damaging events.
4 Steps to Developing a Cyber Security Strategy
Developing a cyber security strategy requires a lot of labor, brainpower, and resources. However, when done correctly, the strategy can mitigate cyber hacks, data breaches, and other external threats. Even if a business has an established cyber security strategy, new management systems can render it useless.
Therefore, owners should review the four steps to creating a cyber security strategy to improve their security techniques.
1. Establish a Foundation
In order to build a reliable foundation for the cyber security strategy, organizations need to focus on three primary components.
- Data Protection
Managers can start by reviewing their internal processes and pinpointing where they generate revenue. They should also take note of which systems could potentially disrupt cash and data flow. The evaluation should note every management solution, IT application, and digital servers through the company.
- Legal Regulations
- Evaluate the Company's Risk Appetites
2. Analyze Threats
Now that managers have defined the threats, it is time to analyze their actual impact on data and security. To perform an adequate analysis, managers will have to first evaluate their company's work environment. They can start by asking a few critical questions.
- Who are the primary customers?
- What products and services does the business sell?
- Who would benefit from disrupting operations?
- Where are the security vulnerabilities?
- What threats do competitors face?
While evaluating competitors may seem like overkill, the threats that they face are typically industry-wide. In other words, businesses are highly likely to experience the same risks as their competition. Therefore, it is better to learn by example than from experience.
Next, managers need to look from the attacker's perspective to learn their strengths and weaknesses.
- What resources do hackers have?
- What are hackers' motivations?
- What operations do attackers target?
- What do attackers gain from security breaches?
3. Build the Cyber Security Plan
It is finally time to start building the actual security plan. To make it easier to manage, members can split the planning process into four phases.
- Pick a Framework for the Current Security State
During this step, owners also have to define the company's current security environment and establish a reasonable timeline. Aside from checking compliance, managers should ensure they are protecting the right assets with the correct processes. Members must objectively evaluate whatever systems are in place.
Then, managers need to develop a reasonable timeline based on their observations. Therefore, if the business has limited security measures, they may need a longer timeframe to work, and vice versa. It is important to remember that the schedule is subject to change throughout the project with any updates. However, managers should try to outline a target timeline so they can better assess their risks and time management.
- Evaluate the Company's Maturity Level
- Evaluate the Technology
- Define Foundational Items
4. Evaluate the Company's Execution Abilities
After finalizing the security strategy, the team must objectively analyze the company's ability to execute the plan. If they lack the resources to launch the strategy, they may need to recruit third-party experts or outsource additional tools. Either way, managers must carefully consider potential hiccups, disruptions, and threats to their plan before launching.