Today, it is legitimate for businesses to engage in partnerships either as private or public entities. Most of the times, such enterprises come together is when they are working together for a common good that benefits all. This type of working relationship is what is referred to as the public-private partnership (PPP). Such relationships are as well-structured in the constitution and are governed by particular laws, regulations, and policies in what is referred to as the PPP legal framework (Hulse, 2016). This legal framework is largely based on the type of legal system that is put in place by the respective government. The framework is structured in different aspects such as public financial management law, procurement law, sector and environmental laws, regulatory frameworks, and tax and licensing laws (Hulse, 2016).
Technology has found its way into our businesses and everyday lives. Today, running or starting a business that does not embrace technology has become a taboo. No single business is up and running without technology. Technology is now a key driver in establishing a successful enterprise. However, despite the many merits that are associated with it, it is prone to manipulation by certain individuals or organisations with the necessary expertise (Hulse, 2016). The use of computers is no longer an easy security alternative for people and corporations. Hackers can easily access information and data stored in computers and manipulate it. This has raised a lot of concern in the business world as most proprietors no longer enjoy the privacy they anticipated to get from the onset of use of computers.
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As a result, this has called for the need of cyber security measures to be put in place. Cybersecurity refers to the technology bodies, practices, and processes that are designed to protect networks, computers, programs and data from being attacked, damaged or accessed by unauthorised persons. It also termed to as information technology security.
However, fighting cybercrimes is not an easy task. It calls for a lot of commitment and organisation. It also requires a lot of resources like capital and skilled human resource which at times can be hard to acquire (Carr, 2016). As a result of the nature of their business, most organisations tend to team up in the common fight against this vice. This could mean setting up of an organisation and coming up with structures to efficiently tackle any data and information interference or damage. A lot of facilities are also required to run the program efficiently.
The company will be needed to provide capital towards the course. The amount of money to be given will be regarding the contract agreement that will be presented before joining the PPP. Again, the company could also be given a duty to procure some equipment to aid towards the realisation of the course. It is probable that the Corporation will be required to provide some personnel especially those in the tech area to assist in the coming up of a structure that will establish a system providing cyber security.
Engaging in and becoming part of the PPP is a useful step to the company as it will lead to innovation and provision of better services regarding energy and electricity (Busch & Austen, 2012). It will make sure that relevant company documents are safeguarded and are only accessible to the right persons. This will help solve the issue of individuals hacking into the company’s system and tampering with essential data especially that concerning bills and salary payments. This has been a problem that the company has notably been facing and is costing it a dime, but with this PPP cyber security program, this issue will no longer pose a threat.
The partnership will also result in an incentive for the company to deliver services and products on time and within their budget (Busch & Austen, 2012). The organisation will no longer have to suffer delays in delivery of service due to complications in the IT department. The smooth running of business will go on as the constituent departments will be in cohesion.
However, it should also be noted that there are risks associated with getting into a PPP. For instance, a lot of information about the company that is supposed to be secret and confidential could be exposed to the federal government (Busch & Austen, 2012). It is not known to what extent such acquired information could affect the company given that it is established as a private entity.
Again, given the energy nature of the enterprise, it could be expensive to acquire infrastructure or services that are required to run ensure the smooth and efficient running of the PPP (Busch & Austen, 2012). This could have a huge effect on the company’s financial status that could interfere with its long-time plans. As a result, considerate measures should be put in place when it comes to the financial aspect of the PPP.
Moreover, there are many other PPPs in the energy sector that the company could hugely benefit. Some PPPs are for Power Purchase Agreements (PPAs) and Energy Purchase Agreements (EPA). Joining this will help the organisation when it comes to the purchase of power and energy as it will make it easier to learn the trends in the acquisition. This will help the company to get contracts and deals to sell power, say to a government agency. This will be quite a big step as a ready market will always be able for the product being provided.
PPPs are essential in the modern business world. They present a significant number of opportunities to an organisation if only the involved individuals are aware of what they are getting themselves into. It is essential to study and understand the laws that govern PPPs before getting into one. Consultancy should also be made at all times where the need arises to give clarity on certain areas where the organisation does not clearly understand.
References
Busch, N. E.; Austen, D. (2012). Public-private partnerships in homeland security: opportunities and challenges. Homeland Security Affairs . Retrieved from https://www.hsaj.org/articles/233.
Carr, M. (2016). Public-private strategies in national cyber-security strategies. International Affairs , 92 (1). 43-62.
Hulse, M. (2016). Public-private partnerships on cybersecurity seen as key to pass effective security legislation. Atlantic Council . Retrieved from http://www.atlanticcouncil.org/blogs/new-atlanticist/public-private-partnerships-on-cybersecurity-seen-as-key-to-pass-effective-security-legislation.
