Toward Resilience of Business Ecosystems: The Internet as a Critical Infrastructure

Paul F. Cleary, Andrew D. Banasiewicz

Abstract


Internet-based electronics interconnectedness is central to efficient functioning of business ecosystems (Banasiewicz, 2015; Bertin, El Sawy and Pereira, 2013), which, in turn, plays a key role in the overall economic value creation process. Not only are organizations dependent on internet for managing their external vendor/supplier/partner relationships - a growing number of businesses but also dependent on internet-based connectivity, or more specifically Broadband Internet (BI), for managing their internal inner workings. Few would argue that, at least in the developed markets like the US, the importance of electronic interconnectivity has elevated internet to the level of a common utility. Hence, it follows that BI should be considered a part of critical infrastructure, which is essential to maintaining the resilience of business ecosystems. The purpose of this paper is two-fold: First, it is to argue that BI should be included in the definition of “critical infrastructure” and thus designated as such, and second, to link BI with the vitality of economic activity and thus to expressly address BI disruptions related business continuity and risk management and tracking considerations. A critical infrastructure designation is important to help shield firms and industries adequately and to help them prepare for potential threats. Critical infrastructures are so designated because any disruption in their operations potentially causes significant harm to society and the economy. Given that BI is vitally important to the process and control of critical infrastructure and industry operations in society, it can be argued that it is critical in maintaining business continuity. This paper examines the importance of BI to public and private sectors, both of which rely heavily on BI for efficient management and control of operations, from the standpoints of business continuity and risk management.

Aus. Aca. Acc & Fin. Rev Vol 4(1), Jan 2018, P 1-10

Keywords


Broadband Internet; Critical Infrastructure; Business Continuity Planning; Risk Management; Organizational Resilience

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