Understanding the basics of cyber risk

- [Instructor] Risk is an essential part of doing business, … whether it's taking a risk on a merger or acquisition, … taking a risk that purchasing new equipment … will be a cost effective investment, or whether there's … sufficient plant protection to avoid injuries to workers. … Management needs to understand their level of risk exposure … and make sure that it's within their risk appetite. … Cybersecurity is, at its heart, the management of risk … related to internet connected businesses. … This includes the threats of hackers and malicious software … entering from the internet, the vulnerabilities of internet … facing IT systems, and the attack countermeasures … or controls, all of which affect how successful … the business will be in meeting its desired outcomes. … A standard approach to managing risk has been developed … by the National Institute of Standards in Technology, … and its application is described in Special Publication … 800-30, Guide for Conducting Risk Assessments. …