Are critical success factors for cybersecurity just technical issues Cybersecurity management and the human factor

Abstract

Purpose- With the rapid advancement of information and communication technologies, businesses are facing growing security risks. The prevalence, intensity, and complexity of cyber attacks worsen these vulnerabilities, leading to a rising focus on cybersecurity. Enterprises exposed to such cyberattacks might not only face considerable financial losses but also experience data breaches, operational interruptions, harm to their reputation, regulatory penalties, legal expenses, reduced competitive standing, and increased insurance premiums. In this concept study discusses the importance of human factors in cybersecurity management. While organizations spend billions on information technology systems and software to detect and prevent cyber threats, individuals play a critical role in managing these risks. Methodology- Through a review of literature and statistical data, study examines the factors contributing to cybersecurity breaches, the allocation of resources to address them, and proposes potential solutions. Findings- In the workplace, most research on cybersecurity focuses on employees as the most important source of vulnerability. In the literature review, it is understood that an employee’s carelessness and lack of awareness pose the greatest risk to cybersecurity. However, businesses often fail to show sufficient attention to human behavior in their efforts to keep organizational data secure and to plan security strategies. It is important to note that effective cybersecurity management requires not only technical controls but also the management of human factors. Meanwhile, security expenditures in enterprises are often disproportionately allocated to technology investments, with 97% being spent on technology investments, despite the fact that over 85% of breaches are attributable to human factors. Conclusion- In the literature review, it is understood that cybersecurity management is not only related to technical controls, but also the management of human factors is of critical importance. The management of individuals is also an essential cybersecurity responsibility. It is important to adopt a holistic approach to cybersecurity management includes both technical and human perspectives. Cybersecurity awareness has significant benefits for businesses to effectively manage cybersecurity which can be achieved by developing appropriate training programs and foster a cybersecurity culture. Keywords: Cybersecurity, cybersecurity management, cybersecurity awareness, technology investments, human factor JEL Codes: M12, M15, L86