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A qualitative study exploring the role of enterprise risk management in safeguarding SMEs against cyber-attacks and strengthening cyber resilience

Sing, Maxence
(2024)

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SING_52021900_2024.pdf
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SING_52021900_2024_APPENDIX1.pdf
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SING_52021900_2024_APPENDIX2.pdf
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SING_52021900_2024_APPENDIX3.pdf
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SING_52021900_2024_APPENDIX4.pdf
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Details

Supervisors
Decaux, Loïc
Faculty
Louvain School of Management
Degree label
Master [120] en sciences de gestion, à finalité spécialisée
Abstract
Small and medium-sized enterprises represent most businesses in the world and play a dominant role in the global economy. However, at a time when digital connectivity appears increasingly vital, many SMEs are still inadequately prepared against cyber threats which make them attractive targets for cybercriminals. As a result, the lack of cybersecurity awareness and protection often leads them to experience significant business disruption, financial loss and reputational damage. The purpose of this research was to identify and explore the role of enterprise risk management in helping SMEs to better protect themselves against cyber-attacks and strengthen their cyber resilience. Following a qualitative analysis, the study found that enterprise risk management is key to enabling SMEs to mitigate cyber risks and enhance their cybersecurity posture by enabling them to be proactive and put precautionary measures in place. However, to be effective, ERM must be tailored to the specific needs and challenges of each SME. This research contributes to the limited body of knowledge on the implementation of ERM in SMEs and its impact on cybersecurity and resilience.