cyber crime and security discussion

Q1. What is the incident response cycle? Compare and contrast its various phases? Do you think any one of the phases is more important than the others? Why or why not?

Q2. The second key finding detailed in the 2013 US State of Cybercrime Survey was, “Many leaders underestimate their cyber-adversaries’ capabilities and the strategic financial, reputational, and regulatory risks they pose.”

How can this possibly still be the case in this day and age, where the information resources available to leaders are so varied and thorough? What do you think is the cause of this unfortunate underestimation? And, more importantly, what types of things would you recommend to a leader in your organization to help correct this deficiency, and why?