Abstract for: Decision-making in Ransomware Capability Development: Persona-Driven Simulation

The intricate interdependence observed in supply chains and digital workflows renders every organization vulnerable to cybersecurity threats. In recent years, ransomware (adversarial software that locks down IT systems) has emerged as a significant and impactful threat with specific characteristics, resulting in organizations being caught off guard when dealing with ransomware. Drawing on grounded and existing system dynamics work, we tailored the cyber risk management simulation to the ransomware threat. Using a persona-driven research approach, we simulated for any chief executive relevant cyber risk management strategies to combat ransomware. Our work identified specific cyber risk management strategies that can mitigate the ransomware threat while maintaining profitability and minimizing cyber risk exposure.