In today's digital-first environment, establishing robust cybersecurity risk management protocols is beneficial and imperative for organizational sustainability and resilience. This necessitates a comprehensive approach where objectives for risk management are clearly defined and aligned with stakeholder expectations, ensuring a coherent understanding of risk appetite and tolerance. It integrates cybersecurity risk considerations into the broader enterprise risk management (ERM) framework, fostering informed strategic decision-making regarding risk responses. Integrating cybersecurity risk management into ERM processes represents a pivotal shift toward recognizing digital threats as a core component of organizational risk. The essence of strategic risk response planning in cybersecurity lies in its ability to address imminent threats and foresee and prepare for potential future vulnerabilities. Establishing standardized methods for assessing cybersecurity risks is crucial in today's complex and evolving threat landscape. Risk is often associated with adverse outcomes in cybersecurity, such as data breaches or system failures.