The importance of risk awareness in cybersecurity among companies : A perspective on the role of top management

Background: Today´s world is characterized by a high level of digitalization that contributes to the development of new and effective technologies. However, this digital success requires knowledge and awareness about cybersecurity. Previous studies have shown that during 2020 the number of cyber-attacks among Swedish companies have increased. Due to digitalization, external parties find new methods to enter a company's systems and take advantage of its innovations and valuable information. That can affect the company's value negatively by ruining its reputation and making the stakeholders mistrust it. Purpose: The purpose of the study is to contribute to an increased understanding of strategic leadership´s influence on cyber risk awareness. Methodology: This study follows a qualitative research method. The data have been conducted through semi-structured interviews, based on 11 respondents consisting of experts whose professional background is anchored in cybersecurity. The research process follows an abductive approach. Conclusion: This study concludes that the current state of cyber risk awareness is not sufficient although it is increasing. Risk awareness is dependent on knowledge and organizational culture. This study concludes that the top management has a significant role in the influence of organizational culture and knowledge and thereby the risk awareness of a company, which in turn has an impact ontheir cybersecurity. It is the responsibility of the top management to delegate tasks that enhance riskawareness. Therefore, cyber risk awareness is to be treated as a top management issue. As a contribution, the study provides an insight on how humans, in this case, the top managementinfluences a company's cybersecurity through risk awareness