Istari

Navigate Your Digital Risk Landscape

The accelerating digitalisation of how we work, shop and live is rewiring top executive mindsets. Most CEOs today no longer see technology as mainly about cost savings[i]. Instead, they understand that digital strategy, innovation and operations must be a core competency of their business if they want to delight customers, create value for shareholders and outpace their competition.

 

But when it comes to digital risk management, only the most advanced senior leaders recognise the business imperative. Instead of over-indexing on what can go wrong, these executives seize the opportunity to turn operational necessities into competitive advantages[ii].

This ability starts with a firm understanding of the true nature of digital risk and how it rapidly changes. Cyber threats are, of course, part of the picture but there is more to it. To help guide you, we have mapped out the digital risk landscape in an attempt to demystify it, by capturing it in four layers (see graphic, next page). Although digital risk is often perceived to be complex and confusing, we show that all digital risks fall within only three categories: operational, cyber and value-creation risks. These three digital risk types (layer 1) form the bedrock of the digital risk landscape. The additional layers on top then dynamically mould and shape the contours of your company’s underlying digital risk, namely: your functional risk management approach (layer 2), your specific context based on your sector and geographic footprint (layer 3), and finally, the broad thematic trends that cut across the entire digital domain (layer 4).

The Digital Risk Landscape in four layers

DRL graphic

Each risk landscape is unique, therefore. To navigate yours — and understand what it takes to build resilience – senior leaders can begin by asking their top teams to tackle four essential questions. Answering these will help create a shared framework on digital risk, surface hidden challenges, clarify key choices and make digital business operations more secure and resilient.

 

Access the full PDF here

 

 

Sources

[i] https://hbr.org/2003/05/it-doesnt-matter

[ii] https://sloanreview.mit.edu/article/make-cybersecurity-a-strategic-asset/

Joe Hubback

Joe

Hubback

Academy Global MD, CLIENT DIRECTOR NORTHERN EUROPE

Joe Hubback is the ISTARI Academy Global MD and Client Director for Northern Europe. Joe has a broad background including McKinsey & Company (where he was a partner and co-led the creation of their cybersecurity practice), he is a published independent cybersecurity analyst and has also held corporate leadership roles (as MD for North West Europe in Keller running a full P&L).

He started his career in the industrial sector as an engineer designing and installing electronic control and robotics systems. He is also passionate about entrepreneurship and is a trustee of the Centre for Entrepreneurs charity.

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