Gomes, Iivari, Ahokangas, Isotalo, Sahlin, and Melén
106
cyber‐preparedness framework, which adopts a four‐stage methodology in designing
such strategies. Additionally, Gomes et al. [39] elaborated on the framework with a
more organizational, business and management perspective.
In the first stage, the leadership examines the organization’s threat levels, the existing
security risk management frameworks that guide strategy formulation. In the next step,
leadership critically assesses it cyber preparedness level in relation to the threat levels
identified. The cyber preparedness levels are perimeter defence, critical information
protection, response awareness, architectural resilience and pervasive agility [18]. In the
third stage, the organization evaluates the nature of the threat it faces and the technical,
operational and process capabilities at its disposal to mitigate the threat it faces. Having
developed the cyber preparedness policy, the final step entails drawing a roadmap to
integrate the policy into the overarching strategic plan.
Gomes et al. [39] combined the concept of the business model with different management dimensions and in order to facilitate the formulation of an organization’s cyber‐
preparedness strategies. The extant literature of business models addresses elements
such as customers, channels, customer relationships, partners, competitors, complementors and resources (human, non‐human, technical and non‐technical), among
many other elements. The key notion is that the business model as a unit of analysis can
help managers look at potentially cyber‐risky areas by considering the what, how, when
and why elements. These elements can be located either within the internal boundaries
of the organization or at the external boundaries.
Pinto [36] stated that excellent security technologies are available, but the bigger
issue is to comprehend cyber security as a competitive advantage and a revenue‐
generating advantage. The business model is conventionally used as a concept to find
new revenue streams in most cases, but in the case of cyber security, for most digital
companies it can enhance their business competitiveness, as they utilize the business
model as a boundary‐spanning unit of analysis. Pinto [36] added that organizations
need to consider cyber‐security costs as the costs of upfront product development
instead of securing after the event. In this way, cyber preparedness strategies can secure
the system and can also offer differentiated competitive advantages and business
opportunities.
5.4 The Business Case of Cyber Security in the Era of 5G
IHS Markit speculates that 5G will not only be a catalyst for advancing mobile
communication technology, but also for various other sectors from technology and
economic perspectives. It is assumed that 5G will be a revolutionary step in technology
development, much like the printing press, the Internet, electricity, and the steam
engine. The common thread among these technologies is that they have been catalysts
for the disruptive transformation of global practices. They are often titled general‐
purpose technologies (GPTs). According to IHS’s projection, 5G will enable 12.3 trillion
dollars worth of global economic production in the year 2035. Furthermore, in 2035, the
global 5G value chain alone shall generate an output of 3.5 trillion dollars while supporting 22 million jobs. As a GPT, 5G will directly affect businesses and operations in
all industries that are digitally intensive. Thus, there should be a significant opportunity
for cyber security to operate in the realm of 5G in the long term [40].
106
cyber‐preparedness framework, which adopts a four‐stage methodology in designing
such strategies. Additionally, Gomes et al. [39] elaborated on the framework with a
more organizational, business and management perspective.
In the first stage, the leadership examines the organization’s threat levels, the existing
security risk management frameworks that guide strategy formulation. In the next step,
leadership critically assesses it cyber preparedness level in relation to the threat levels
identified. The cyber preparedness levels are perimeter defence, critical information
protection, response awareness, architectural resilience and pervasive agility [18]. In the
third stage, the organization evaluates the nature of the threat it faces and the technical,
operational and process capabilities at its disposal to mitigate the threat it faces. Having
developed the cyber preparedness policy, the final step entails drawing a roadmap to
integrate the policy into the overarching strategic plan.
Gomes et al. [39] combined the concept of the business model with different management dimensions and in order to facilitate the formulation of an organization’s cyber‐
preparedness strategies. The extant literature of business models addresses elements
such as customers, channels, customer relationships, partners, competitors, complementors and resources (human, non‐human, technical and non‐technical), among
many other elements. The key notion is that the business model as a unit of analysis can
help managers look at potentially cyber‐risky areas by considering the what, how, when
and why elements. These elements can be located either within the internal boundaries
of the organization or at the external boundaries.
Pinto [36] stated that excellent security technologies are available, but the bigger
issue is to comprehend cyber security as a competitive advantage and a revenue‐
generating advantage. The business model is conventionally used as a concept to find
new revenue streams in most cases, but in the case of cyber security, for most digital
companies it can enhance their business competitiveness, as they utilize the business
model as a boundary‐spanning unit of analysis. Pinto [36] added that organizations
need to consider cyber‐security costs as the costs of upfront product development
instead of securing after the event. In this way, cyber preparedness strategies can secure
the system and can also offer differentiated competitive advantages and business
opportunities.
5.4 The Business Case of Cyber Security in the Era of 5G
IHS Markit speculates that 5G will not only be a catalyst for advancing mobile
communication technology, but also for various other sectors from technology and
economic perspectives. It is assumed that 5G will be a revolutionary step in technology
development, much like the printing press, the Internet, electricity, and the steam
engine. The common thread among these technologies is that they have been catalysts
for the disruptive transformation of global practices. They are often titled general‐
purpose technologies (GPTs). According to IHS’s projection, 5G will enable 12.3 trillion
dollars worth of global economic production in the year 2035. Furthermore, in 2035, the
global 5G value chain alone shall generate an output of 3.5 trillion dollars while supporting 22 million jobs. As a GPT, 5G will directly affect businesses and operations in
all industries that are digitally intensive. Thus, there should be a significant opportunity
for cyber security to operate in the realm of 5G in the long term [40].