As cyber-attacks evolve in sophistication; organizations are under constant threat. This necessitates a cohesive approach to prioritize incident response (IR) capabilities and mitigate potential damages. This research paper explores integrating Information Security Management (ISM) and Incident Response (IR) functions; underlining the need for a unified strategy that leverages organizational learning theory. The study comprehensively analyzes the Incident Response Lifecycle; outlining the critical phases of preparation; detection and analysis; containment; eradication; recovery; and post-incident activities. It also investigates the crucial role and structure of Incident Response Teams (IRTs); advocating for tailored team formations that adapt to the dynamic nature of cyber incidents. By fostering collaboration between ISM and IR functions and focusing on technical and socio-technical factors; organizations can enhance their resilience against cyber threats and improve their overall security posture.