Enterprise Cyber Risk Management as a Value Creator: Leverage Cybersecurity for Competitive Advantage

© The Author(s), under exclusive license to APress Media, LLC, part of Springer Nature 2024

B. ChaputEnterprise Cyber Risk Management as a Value Creator https://doi.org/10.1007/979-8-8688-0094-8_5

5. Justifying ECRM Funding

Bob Chaput¹  

(1)

Belleair Beach, FL, USA

 

Alignment of business strategy and risk appetite should minimize the firm’s exposure to large and unexpected losses. In addition, the firm’s risk management capabilities need to be commensurate with the risks it expects to take.

—Jerome Powell¹

Last spring, I read a WSJ article that quoted a CISO saying, “Even in a good economy, people are trying to grow the business, that’s what they want to put their funds into. Security may be important, but security doesn’t make revenue.”² If you read ...