Call us now:
I love this Ted Dziekanowski. Grey Rhino’s in the board room are a bit like black swans, but way more unpredictable and when they get upset way more dangerous.
Grey Rhino’s are risks that are in plain sight ‘charging straight at you’, risks such as cyber risk and cyber regulation that create regulatory, compliance and legal risks. Risks for which the the metaphor Grey Rhino is apt.
Managing cyber and regulatory risk requires clear situational awareness, ‘left of bang’, if they are to be managed. Situational awareness that requires a culture of risk management, a risk management framework, risk mitigation that is effective and clear communications of appropriate information from the shop floor to the board room through corporate governance.
In their book ‘Left of Bang’ Patrick Van Horne and Jason A. Riley discuss the need for situational awareness, to better predict when something bad is going to happen. That is way more cost effective, efficient and effective that waiting for the ‘bang’ and having to address ‘right of bang’ and incident response.
Cyber regulation shifts cyber risk management ‘Left of Bang’, requiring situational awareness in the board room, created through communications, data and information.
#cybersecurity #cyberriskmanagement #leftofbang
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