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Calculated risk? A cybersecurity evaluation tool for SMEs

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  • Benz, Michael
  • Chatterjee, Dave

Abstract

Small and medium-sized enterprises (SMEs) are among the least mature and most vulnerable in terms of their cybersecurity risk and resilience. In this article, we describe a methodology developed using the National Institute of Standards and Technology’s (NIST) Cybersecurity Framework (CSF) as a starting point. The NIST CSF does not meet all the needs of the SME IT leader, but it offers a solid foundation for a useful evaluation and recommendation methodology. We propose an SME cybersecurity evaluation tool (CET) that consists of a 35-question online survey to be completed by IT leaders to self-rate their maturity within the five NIST framework categories: identify, protect, detect, respond, and recover. We outline this approach to cybersecurity risk management before discussing its effectiveness and implications for practitioners.

Suggested Citation

  • Benz, Michael & Chatterjee, Dave, 2020. "Calculated risk? A cybersecurity evaluation tool for SMEs," Business Horizons, Elsevier, vol. 63(4), pages 531-540.
    • Handle: RePEc:eee:bushor:v:63:y:2020:i:4:p:531-540
    DOI: 10.1016/j.bushor.2020.03.010
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    References listed on IDEAS

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    1. Hooper, Val & McKissack, Jeremy, 2016. "The emerging role of the CISO," Business Horizons, Elsevier, vol. 59(6), pages 585-591.
    2. Abraham, Chon & Chatterjee, Dave & Sims, Ronald R., 2019. "Muddling through cybersecurity: Insights from the U.S. healthcare industry," Business Horizons, Elsevier, vol. 62(4), pages 539-548.
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    Cited by:

    1. Idiano D’Adamo & Rocío González-Sánchez & Maria Sonia Medina-Salgado & Davide Settembre-Blundo, 2021. "E-Commerce Calls for Cyber-Security and Sustainability: How European Citizens Look for a Trusted Online Environment," Sustainability, MDPI, vol. 13(12), pages 1-17, June.
    2. Meghisan-Toma Georgeta-Madalina & Nicula Vasile Cosmin, 2020. "ICT Security Measures for the Companies within European Union Member States – Perspectives in COVID-19 Context," Proceedings of the International Conference on Business Excellence, Sciendo, vol. 14(1), pages 362-370, July.
    3. You-Shyang Chen & Jerome Chih-Lung Chou & Yu-Sheng Lin & Ying-Hsun Hung & Xuan-Han Chen, 2023. "Identification of SMEs in the Critical Factors of an IS Backup System Using a Three-Stage Advanced Hybrid MDM–AHP Model," Sustainability, MDPI, vol. 15(4), pages 1-29, February.
    4. Falch, Morten & Olesen, Henning & Skouby, Knud Erik & Tadayoni, Reza & Williams, Idongesit, 2022. "Cybersecurity in SMEs in the Baltic Sea Region," 31st European Regional ITS Conference, Gothenburg 2022: Reining in Digital Platforms? Challenging monopolies, promoting competition and developing regulatory regimes 265624, International Telecommunications Society (ITS).
    5. Gundula Glowka & Richard Hule & Anita Zehrer, 2024. "Risk perception of SMEs: strategic risks, family-related risks, external risks," Risk Management, Palgrave Macmillan, vol. 26(4), pages 1-27, December.
    6. Tahereh Hasani & Norman O’Reilly & Ali Dehghantanha & Davar Rezania & Nadège Levallet, 2023. "Evaluating the adoption of cybersecurity and its influence on organizational performance," SN Business & Economics, Springer, vol. 3(5), pages 1-38, May.
    7. Pigola, Angélica & Da Costa, Priscila Rezende & Ferasso, Marcos & Cavalcanti da Silva, Luís Fabio, 2024. "Enhancing cybersecurity capability investments: Evidence from an experiment," Technology in Society, Elsevier, vol. 76(C).
    8. Wei Yu & Huiqin Huang & Xinyan Kong & Keying Zhu, 2023. "Can Digital Inclusive Finance Improve the Financial Performance of SMEs?," Sustainability, MDPI, vol. 15(3), pages 1-16, January.

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