Implications of the Internet of Things for the Small and Medium Sized Business

The Internet of Things (IoT) is the network of physical objects containing the embedded capability to interact, communicate, and otherwise exchange data with one another and the external environment over a network without human intervention. As the Internet of Things begins to grow into almost all aspects of business, the small to midsize business (SMB) must not get behind. Some unanswered questions include: How will small and medium-sized businesses (SMB) participate in IoT? Have they already begun participating and what challenges have they encountered along the way? Do smaller organizations have a disadvantage compared to larger organizations in the IoT landscape? A literature review and a survey of owners, executives and employees of SMBs were performed in order to gain a better understanding of the current state of awareness and use of IoT technologies. The thesis concludes with a theoretical recommended implementation plan that combines the literature on the strengths and weaknesses of the SMB with the results of the survey as well as the literature examining the challenges and opportunities of IoT into a series of recommendations for implementation. These recommendations are given in the form of a “Maturity Model” that will cover the steps from infancy to a fully mature implementation of IoT solutions

Curse or Blessing? Exploring risk factors of digital technologies in industrial operations

Both practitioners and scholars emphasise the benefits of Industry 4.0 (I4.0) technology implementation, such as increased transparency and the availability of real-time data in operations processes. Current literature on I4.0 technologies tends to overemphasise the positive impact and transformational capabilities of digital technologies while there is little focus on evaluating potential risks associated with their adoption in industrial operations. An understanding of how supply chain risks are perceived in digitalisation projects within industrial operations and an understanding of decision-makers' responses to different types of risks has important managerial implications. Current literature, however, lacks systematic empirical evidence on the implementation of I4.0 applications and related risk factors. This study aims to address this research gap by exploring the relationship between I4.0 technologies and supply chain risks based on empirical evidence from 300 case studies of industrial practice in Germany and fifty-three interviews with relevant managers from selected use cases and with general experts in this field. Our findings show that digital technologies are frequently adopted to address certain existing supply chain risks but that their implementation introduces new sources of risks (e.g. cyber risks). Based on qualitative data analysis and drawing on Normal Accident Theory, we propose a framework to explicate the drivers and contingency factors of new sources of supply chain risks in the context of Industry 4.0 technologies. Practical recommendations are provided for supply chain managers to guide the process of managing supply chain risks based on the technological life cycle

A Vision and Framework for the High Altitude Platform Station (HAPS) Networks of the Future

A High Altitude Platform Station (HAPS) is a network node that operates in the stratosphere at an of altitude around 20 km and is instrumental for providing communication services. Precipitated by technological innovations in the areas of autonomous avionics, array antennas, solar panel efficiency levels, and battery energy densities, and fueled by flourishing industry ecosystems, the HAPS has emerged as an indispensable component of next-generations of wireless networks. In this article, we provide a vision and framework for the HAPS networks of the future supported by a comprehensive and state-of-the-art literature review. We highlight the unrealized potential of HAPS systems and elaborate on their unique ability to serve metropolitan areas. The latest advancements and promising technologies in the HAPS energy and payload systems are discussed. The integration of the emerging Reconfigurable Smart Surface (RSS) technology in the communications payload of HAPS systems for providing a cost-effective deployment is proposed. A detailed overview of the radio resource management in HAPS systems is presented along with synergistic physical layer techniques, including Faster-Than-Nyquist (FTN) signaling. Numerous aspects of handoff management in HAPS systems are described. The notable contributions of Artificial Intelligence (AI) in HAPS, including machine learning in the design, topology management, handoff, and resource allocation aspects are emphasized. The extensive overview of the literature we provide is crucial for substantiating our vision that depicts the expected deployment opportunities and challenges in the next 10 years (next-generation networks), as well as in the subsequent 10 years (next-next-generation networks).Comment: To appear in IEEE Communications Surveys & Tutorial

Information Security Assessment of the Norwegian SMB-Sector: A Study of Culture, Leadership and Cost

The aim of this study was to contribute to the understanding of information security practices and challenges in small and medium-sized businesses in Norway. The research focuses on organizational culture and leadership practices related to information security. Additionally, the study has been interested in mapping the number of security incidents, as well as their associated costs. The study collected a fresh set of data by conducting a survey of 236 small and medium-sized businesses across various industries and between the 11 Norwegian counties. The findings reveal that a significant number of Norwegian SMBs have experienced information security incidents over the past four years. While some incidents were severe and resulted in substantial costs, the median cost of incidents was found to be moderate and manageable for most businesses. However, it is emphasized that businesses should constantly raise their security levels to prepare for worst- case scenarios. Furthermore, the study highlights the role of cyber insurance in protecting businesses against data breaches. Approximately one out of every six participants reported that their organization had purchased cyber insurance and the findings show an increased likelihood to invest in such coverage for organizations that had experienced data breaches. This may indicate that the organizations recognize the importance of increasing security measures following a security incident. Interestingly, the research does not find a statistically significant relationship between the “Culture Security Level” and the probability or cost of incidents. The study acknowledges limitations in the methodology used to assess the “Culture Security Level” and highlights the need for further research. Based on the findings, it is concluded that the Norwegian SMB sector on average does not possess sufficient security measures to mitigate information security risk adequately. Overall, this thesis provides valuable insight into the information security landscape of Norwegian SMBs, highlights the challenges and offers recommendations for improving security practices

Rapid Application Development for Small and Medium Businesses, A Case Study

This field project is based on developing a web application model for a hypothetical small business –“Beverly Flowers.” As a small business, it did not see the need for a web presence in its initial years of operation. However its latest marketing analysis has revealed that its existing customer base wants the convenience of shopping from home. The company would like to develop a web application rapidly to gain maximum benefits; however the company lacks Information Technology resources due to budget constraints. In the current age of fast pace commerce, every Small and Medium sized Business (SMB), without e-Commerce or a Web presence is faced with similar challenges. This field project focuses on how SMBs can embark on a new initiative to build a web presence rapidly, efficiently, and cost effectively by using an industry proven open source software such as the Spring framework. The field project focuses on the benefits that small and medium companies can gain by rapidly developing web application using the open source model. There are many successful organizations that have adopted this method and have implemented successful applications. This has resulted in tremendous cost savings and increase in customer satisfaction for those companies. This field project also includes a small software development model – a prototype, to build the required web presence for Beverly Flowers using Spring framework

How can startups make use of cloud services

The purpose of this project is to discuss the technical obstacles that small and medium-sized enterprises (SMEs) face, as well as how cloud computing can help to solve these issues. Cloud computing has the ability to radically change competitive environments by offering a new forum for generating and delivering business value and market development. Small and medium-sized enterprises (SMEs) also lack sufficient technological capital. They could either buy expensive software customized by large companies or develop their own low-cost applications with limited functionality. The research questions answered in this project are as follows: 1. How can a startup build a cost-effective website and host it on a cloud platform? 2. How can a startup make a website always available? 3. How can a startup resolve the low latency problem using cloud services? 4. How can a startup make use of different cloud services to reduce the use of infrastructure and technology resources. The methodology used for this project is to understand what is cloud computing, cloud implementation models, cloud computing services, and their benefits. The Implementation Solution is offered by evaluating various cloud vendors such as AWS and Microsoft Azure and the various services they provide. This study provides a realistic demonstration of designing and hosting a website in AWS and Microsoft Azure to support this approach. This study offers insights and suggestions to SMEs for implementing various cloud services to achieve economies of scale. The project concluded that cloud computing is simple to use, inexpensive, eliminates the need for physical office space, and eliminates the need to transport storage devices. Because of its scalability and faster content delivery, as well as various business models, the cloud is an excellent choice for startups

An Examination of the Role of vCISO in SMBs: An Information Security Governance Exploration

Information security threats and their associated breaches are exponentially growing, with millions of records containing personally identified information released to the public each year. Cyber incidents targeting businesses nearly doubled in US past 6 years, with more than 130 large-scale targeted breaches per year in U.S. In the first half of 2020, 36 billion records were exfiltrated by external hackers, with the average cost to recover from a cyber-attack averaging $21.00 per record. While Small and Mid-sized Businesses (SMBs) attempt to stay ahead of this growing trend and protect organizational data, they have specific behaviors that do not affect larger organizations. The four behaviors (non-strategic executive-level sponsorship, apathetic risk management procedures, constrained resources, and non-existent technical skills) are identified in the literature and recognized within the small to midsized industry. If not correctly identified and remediated, these behaviors may impede the businesses from protecting information assets and achieve a mature level of information security governance. To assist organizations in achieving information security governance, the literature identifies five domains that all organizations should possess for organizational alignment and governance maturity. These governance domains are Strategic Alignment, Value Delivery, Risk Management, Performance Measurement, and Resource Management. However, extant literature does not align the five governance domains with the small to midsized business behaviors, nor provide a solution to assist SMBs in achieving information security governance. The literature review focused on four main aspects that are relevant to the study: SMB Characteristics, Virtual Leadership, Information Security Governance, and Information Security program. Previous research identified how similar organizations utilized virtual leadership positions to overcome SMB behaviors to attain organizational business requirements but did not identify virtual positions that can assist SMBs with information security governance. To bridge this gap, this study explored a recent phenomenon, identified as a virtual Chief Information Security Officer (vCISO), that can align the SMB behaviors with the five governance domains and provide a viable solution for SMBs to achieve Information Security Governance within the identified behaviors. Specifically, this qualitative exploratory study interviewed six vCISOs and 14 companies to examine the role the vCISO provided in bridging SMB’s organizational behaviors with the five Information Security Governance domains

SIGNIFICANCE OF ANALYTICS

Despite the number of times marketers have been using analytics as a tool to predict and drive consumer behavior, it is a relatively new application of the science. Technology continues to evolve and offers even more data choices and metrics for analysis, increasing the abilities of marketers to reach their audience. This article expands on several sectors of use, including real estate, social media, and healthcare, and theorizes the impact that analytics will have in the future as the technological means to interpret data catches up with the sheer amount of real-time information available for potential use, especially with the development of the Internet of Things, and rising concerns around data use, regarding data protection and copyright.  Article visualizations

Development of small and medium enterprises: the EU and East-partnership countries experience: monograph

The monograph reveals challenging issues of small and medium enterprises development in the European Union and East-Partnership countries. Special attention is paid to a new paradigm of financing investments and fostering innovations at all levels of legal entities including SMEs, enhancing innovative entrepreneurship in conditions of global social and technological challenges as well as determining priority sectors for small and medium enterprises as drivers of economic growth. The authors of the monograph emphasize on such European approaches to financing SMEs as crowd-funding and SME-bonds, analyze experience of applying fiscal instruments to support investment and innovations. The researchers underline the role of social investment as an innovative strategy for European SMEs that could be applied in Ukraine and East-partnership countries, suggest new conceptual approach to the evaluation of innovative business development. They also analyse trends of Ukrainian IT enterprises development in the context of modern information services in a global market. Additional attention is paid to the analysis of SMEs’ entrepreneurial potential in conditions of global social and technological changes, estimation effects of applying electronic governance technologies to provide administrative services by public authorities of various levels of governance. Finally, the researchers disclose economic mentality of legal entities as an informal side of financial assets and substantiate the necessity of creation entrepreneurial universities as drivers of innovative development of economy. The materials of the monograph will be useful to scholars, financial managers of companies, financial analysts, representatives of state bodies who implement the state policy in the field of SMEs development in the East-partnership countries, as well as students of economic universities