Businesses developing a cybersecurity program can help them avoid risks, such as loss of data and financial losses, as well as protecting their assets. However, developing a cybersecurity program has its costs/benefits, with one of the benefits being risk mitigation. Cybersecurity programs help companies/businesses identify potential threats, implement measures to prevent them, and respond to breaches quickly and efficiently. With this, a company is better suited to take on a cybersecurity attack. Another benefit of a cybersecurity program is business continuity. Business continuity is defined as “A business’s level of readiness to maintain critical functions after an emergency or disruption”. A cyber security program can help keep a business afloat because of the implementation of disaster recovery plans and data backup procedures. One last benefit of a cybersecurity program is keeping a company’s reputation clean. Cybersecurity breaches can be very damaging to a company. The addition of a good cybersecurity program can help a company avoid cybersecurity risks and keep their reputation clean.
Cybersecurity programs also have some cons, one of which being financial investment. Developing a cybersecurity program can be costly, and some businesses may not be able to afford one. Expenses include hardware, software, and personnel. Another con of cybersecurity programs is training and education. Employees must be aware of risks associated with cyber threats, like phishing attacks, and the employees must be trained to prevent these attacks. This process can be time consuming and could require additional resources. Lastly, cybersecurity programs could pose a false sense of security. Companies might become overconfident in their systems, and assume they are safe from all cyber threats. This can lead to a false sense of security, which can be dangerous. Cybercriminals are always evolving and only becoming better and better at what they do. Therefore, failure to stay vigilant can lead to a company becoming vulnerable to cyber attacks.