Abstract
This chapter examines the shift from business impact analysis to the business resilience required to safeguard organizations from cyber-attacks and endure such attacks if they befall. Skilled business resilience experts support accepted practices that enhance efficiencies and quality of business continuity strategy and planning programs, plus guard against cyber terrorism. Via this text's pages, readers learn about resilience as the final critical planning, preparative, and related action recommended to substantiate that organizations' significant business functions should either persist to function despite serious cataclysms or events of cyber terrorism that otherwise might interrupt services or production or will be recovered to an operational state within a reasonably short period. Explored is evidence of the ubiquitous reliance on technology in business strategies. Shown is how business resilience procedures provide an array of advantages. Readers will learn about business resilience as a long-term solution and business resilience cyber-risk management strategies.
TopIntroduction
This study aims to analyze the business resilience of Sigma Pointe that supports the organization and then identify what businesses do to build business resilience within their organizations. Sigma Pointe’s current “as-is” state is that the researcher does not have a framework or model for providing a business resilience strategy. Nor does this researcher have a framework or model for standing up the business resilience strategy office. Further, the most current directive specifies that Sigma Pointe shall employ the critical capabilities to copiously institutionalize continuous process improvement, specifically business resilience, within its organization. The initial work was to gather end-to-end data regarding business resilience.
Before 2001, business continuity plans were habitually propelled by threats from natural disasters. The events of 2001 were momentous. Experienced was the 2001 terrorist attack on the World Trade Center in New York City. The top five costliest hurricanes are (i.e., Katrina, 2005, $165 billion; Harvey, 2017, $127 million; Maria, 2017, $91 million; Sandy, 2012, $72 million; Irma, 2017, $50 million; Pompa, 2018). The top five earthquakes are Nepal, 2015, with a magnitude of 7.8; Italy, 2016, with a magnitude of 6.2; Indonesia, 2016, with a magnitude of 6.4; Mexico, 2017, with a magnitude of 7.1; Japan, 2011, with a magnitude a 9.5; Noonan & Wires, 2018). Other disasters such as cyber warfare attacks (e.g., Google China hit by a cyberattack - 2009; Scientology attached by hackers – 2008; Internet attack on all 13 domain name systems’ root servers in the United States – 2002; hacker Gonzales steals tens of millions in credit card details - 2009; ARN Staff, 2019) Since these catastrophes a change occurred. Businesses began asking whether their organizations would survive (Updegraff, 2011). Businesses recover five years after these disasters (Forgany, 2022; Homeland Security Today, 2022; Lynn, 2022; Poole & Carithers, 2022; Schuppe, 2022; and Walker, 2022). The old question is - what is the time to recover operations? - does not allow for the broadest information gathering regarding business continuity (Updegraff, 2011). The Department of Homeland Security, created in November 2002 due to Congress's passage of the Homeland Security Act, further coordinated and united national homeland security work (Department of Homeland Security, 2019, Department Creation). This department opened on March 1, 2003, as a stand-alone, Cabinet-level department. This department transfigured and readjusted wholly or a portion of 22 different federal departments’ and agencies’ pursuits (Department of Homeland Security, 2019, Who joined DHS) into one department whose chief work remains to safeguard the United States of America (Department of Homeland Security, 2019, Proposal to Create). This change increased the threats the US government pursued to diminish and prepare to eliminate (Department of Homeland Security, 2019, Department Creation). Let us briefly review business continuity planning, a topic covered in a different publication.
Key Terms in this Chapter
Economic Resilience: Economic resilience and stability refer to the capability to possibly reduce losses by hastening the speed of recovery by shortening the recovery period or multiplying renovation and rebuilding investment levels ( Xie et al., 2018 ) to become steady.
Business Resilience Strategy: Defining business resilience strategy starts with comprehending the required workflows to be preserved to survive disruptive events and then detailing conventional disaster recovery, business recovery, business continuity, and then business resilience.
Business Resilience: Business resilience is the knack businesses need to instantly adapt to disruptions while preserving continuous business operations and protecting people, assets, and inclusive brand equity.
Strategic Leadership: This term references a habit and exercise that executive leadership should perform to create an organizational vision that empowers these organizations to quickly adapt or continue to be competitive during calamities, catastrophe, and evolving financial and technological environments. Each organization and the executives within the organization will display diverse leadership styles.
Environmental Resilience: This type of resilience is understood as a broader collection of elastic and disruptive methods capable of moving societies onto novel changing trails instead of merely returning to the exact situations preceding any natural disaster ( Cutter, 2020 ).
Financial Resilience: Financial resilience is the proficiency to endure life events affecting a business’s or community’s income.
Cyber Terrorism: Cyber terrorism refers to the use of the internet, computer systems, and digital technology by individuals or groups to conduct acts of terrorism.