Risk Management in the Digital Age: Essential Exercises Every Business Should Know (Charlotte, NC)
Below are some essential risk management exercises businesses should conduct in the digital age.
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Phishing Simulation - Send fake phishing emails to employees to test susceptibility and improve cybersecurity awareness. Track open/click rates.
Password Audits - Audit employee password strength and multi-factor authentication usage to ensure proper access controls.
Incident Response Drills - Simulate cyber attacks, data breaches, or IT outages and run through response plans.
Cloud Dependency Mapping - Map dependencies on cloud services and prepare for potential disruptions. Test redundancy.
Supply Chain Stress Tests - Model supply chain shocks like a supplier failure and analyze impacts. Test alternatives.
Social Engineering - Hire external firms to attempt breaching security by impersonating staff. Test points of vulnerability.
Disaster Recovery Testing - Simulate data center failures or natural disasters. Test failover capabilities and recovery time.
Penetration Testing - Hire ethical hackers to safely exploit vulnerabilities in networks, apps, APIs. Fix gaps.
Risk Sensing Exercises - Role play emerging risks like new regulations or technologies. Prep early mitigation.
Crisis Communications - Workshop PR and internal comms response to a brand crisis scenario. Refine plans.
Tabletop Exercises - Gather leadership teams to discuss hypothetical high-impact risk scenarios and response.
In our modern, digitized world, risk management has become even more critical. Whether it's cybersecurity threats, data privacy concerns, or the risks associated with digital transformation projects, businesses today face a complex web of risks in the digital realm.
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