With the advancement of technology, companies are facing an escalating number of threats. Telecommunication companies draw significant attention from hackers due to their frequent utilization of users' personal data. The vulnerability inherent in telecommunication companies, coupled with the limited understanding of business security within the telecommunications industry, serves as the motivation for this paper. To commence, the paper acquaints the reader with theoretical knowledge about crisis management and its role in the protection of cyber security, alongside with the concepts of cyber risk and cyber security. Through the examination of practical examples, a comparative analysis of best practice cases demonstrates the appropriate actions a company should take during a cyber crisis. In addition to crisis management itself, attention is also given to business security in telecommunications. It is concluded that network security protection is necessary through the establishment of firewalls, VPNs, and other protective tools. Moreover, data security in telecommunications is deemed necessary to ensure business security. To highlight best practices, international standards such as ISO/IEC, ITU, and similar ones are explained. The possession of international certificates distinguishes strong telecommunications companies from weak ones. Weaknesses in telecommunications companies are also presented to emphasize the significance of data security and network protection. Theoretical knowledge gathered from secondary sources, including domestic and foreign literature and websites, have guided primary research, which provided insights into the specific operations of telecommunications companies. Through conducted interviews and subsequent analysis, it has been concluded that operating without adequate implementation of cyber crisis management is impossible in the present landscape. Constant prioritization of cyber security and continuous efforts to enhance knowledge in all areas susceptible to a cyber crisis are imperative.