Understanding the Impact of Cyberattacks on Businesses: a Systematic Literature Review
Understanding the impact of cyber-attacks on businesses: a systematic literature review
The frequency and the severity of cyber-attacks continue to grow. The UK Cyber Security Breaches Survey 2021 reveals that nearly half of businesses report having cyber-attacks in the last year. This has caused a wide range of critical damages to business, ranging from financial losses, reputational harm, decrease in productivity, disruption of operations to total failure of the whole business processes. However, the understanding about cyber-attacks and their consequence is still limited. Although the measurement of their impact on business has received increasing attention from practitioners and academics, there is lack of consensus on which business aspects are affected by cyber-attacks and what methods could be used to measure the impact accurately. This study, therefore, provides a systematic literature review to (i) map out the current state of cyber-attacks’ impact on business, (ii) identify measurement indicators and methods, and (iii) discuss measurement challenges and future research streams.
Dr. Xiuqin Li, Research Associate, Manchester Institute of Innovation Research (MIoIR) and Decision and Cognitive Science Research Centre (DCSRC), Alliance Manchester Business School (AMBS)
Dr. Richard Allmendinger, Senior Lecturer in Decision Sciences at the Decision and Cognitive Sciences Group, Alliance Manchester Business School (AMBS)
Prof. Elvira Uyarra, Professor of Innovation Studies, Manchester Institute of Innovation Research (MIoIR), Alliance Manchester Business School
Xiuqin Li is the Research Associate at the Manchester Institute of Innovation Management, Alliance Manchester Business School. She works in in the broad area of innovation in relation to R&D, service, manufacturing, knowledge, technology, E-commerce, digitalisation, and cyber security. Her main research focus is on knowledge-intensive business services (KIBS) in terms of their innovation activities, the use of digital technology and the roles in the innovation ecosystem at the regional, national, and international level. She is currently working in the Soteria Project that aims to identify and measure the impact of cyber-attacks on E-commerce businesses. She also has strong interest, from her doctoral research, in R&D outsourcing/offshoring, innovation intermediaries, industry-university collaborations, open innovation and social innovation.