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Interest in real option theory has intensified over the last decade due to the high uncertainty faced by some private and public organizations when deciding to make a strategic investment (competitive environment) or when faced with an external requirement of the organizational environment (ensuring security standards). Traditional methods of investment analysis define the existence of investment opportunity by net present value (NPV), ignoring the possibility that an investment will start from a certain moment in the future. In this way, it is not possible to capture the phenomenon in dynamics, which leads to limiting the possibility of solving the existing uncertainty over the time regarding the optimal use of resources. The need to optimize managerial strategies and give some flexibility to decision-makers in relation to the changes in the organization's external environment has triggered the real options analysis (ROA). By using ROA, a win-win situation is created in which the available policy options mitigate uncertainty fluctuations of updated net worth (based on new information available) and, at the same time, by applying the best strategy, maximize earnings. Information security systems are designed on a layered architecture and the decision to improve performance on each layer is the responsibility of strategic management. Being a modular system, it is recommended to build the architecture by stages, depending on the value of the assets. Also, the relatively long duration and costs of implementation, limited resources, irreversible character, and project risks determine the value and evaluation of the investment, involving its representation as a combined option associated with a succession of decisions. The proposed model is inspired from the theory of financial and real options, but also from the fuzzy logic. This approach seeks to anchor specific mechanisms for the study of asymmetric risk events in the security market (perfect market assumptions are of course limiting but provide a quick overview, which is essential for the proposed application). Using the capital asset pricing model (CAPM), the return on investments in the security of IT & C systems, by reference to the investment risk as the estimated value, is defined. Investors can take risks that can be broken down into two components: systematic risks and non-systemic risks. Systematic risk refers to the variability of income caused by external factors (macroeconomic conditions), being a measure of the relative market volatility of relative incomes. Unsystematic risk refers to income variability caused by unpredictable factors (mismanagement decisions, abrupt technologies overtaken). The depreciation of security investments is inherent and leads to the dilemma of small and frequent investments or major and rare investments. On this issue, the proposed model can provide solutions to decision-makers. Uncertainty, irreversibility, growth potential and competition are factors that influence the behavior and investment decision. We consider that by using the capital asset pricing model in the security investments associated with eLerning training systems, we can increase the precision of optimal investment in terms of risk and opportunity balancing. [ABSTRACT FROM AUTHOR]

Interest in real option theory has intensified over the last decade due to the high uncertainty faced by some private and public organizations when deciding to make a strategic investment (competitive environment) or when faced with an external requirement of the organizational environment (ensuring security standards). Traditional methods of investment analysis define the existence of investment opportunity by net present value (NPV), ignoring the possibility that an investment will start from a certain moment in the future. In this way, it is not possible to capture the phenomenon in dynamics, which leads to limiting the possibility of solving the existing uncertainty over the time regarding the optimal use of resources. The need to optimize managerial strategies and give some flexibility to decision-makers in relation to the changes in the organization's external environment has triggered the real options analysis (ROA). By using ROA, a win-win situation is created in which the available policy options mitigate uncertainty fluctuations of updated net worth (based on new information available) and, at the same time, by applying the best strategy, maximize earnings. Information security systems are designed on a layered architecture and the decision to improve performance on each layer is the responsibility of strategic management. Being a modular system, it is recommended to build the architecture by stages, depending on the value of the assets. Also, the relatively long duration and costs of implementation, limited resources, irreversible character, and project risks determine the value and evaluation of the investment, involving its representation as a combined option associated with a succession of decisions. The proposed model is inspired from the theory of financial and real options, but also from the fuzzy logic. This approach seeks to anchor specific mechanisms for the study of asymmetric risk events in the security market (perfect market assumptions are of course limiting but provide a quick overview, which is essential for the proposed application). Using the capital asset pricing model (CAPM), the return on investments in the security of IT & C systems, by reference to the investment risk as the estimated value, is defined. Investors can take risks that can be broken down into two components: systematic risks and non-systemic risks. Systematic risk refers to the variability of income caused by external factors (macroeconomic conditions), being a measure of the relative market volatility of relative incomes. Unsystematic risk refers to income variability caused by unpredictable factors (mismanagement decisions, abrupt technologies overtaken). The depreciation of security investments is inherent and leads to the dilemma of small and frequent investments or major and rare investments. On this issue, the proposed model can provide solutions to decision-makers. Uncertainty, irreversibility, growth potential and competition are factors that influence the behavior and investment decision. We consider that by using the capital asset pricing model in the security investments associated with eLerning training systems, we can increase the precision of optimal investment in terms of risk and opportunity balancing. [ABSTRACT FROM AUTHOR]

Identifying, analyzing, correlating and evaluating the dynamics of strategic critical infrastructure works closely with time evolution of society, which has generated and has boosted the development of large cities and economical objectives, always searching for new architectural solutions, both for the civilian constructions and for those with defensive character. Unlike security environment, specific previous stages of human development, the contemporary security environment is characterized by a multitude of hazards and risks, challenges, threats and vulnerabilities that have generated a greater impact concerning the vital elements of strategic critical infrastructure system. For this reason, the protection, the safety and the security of strategic critical infrastructure, will represent, also in the future, a priority area for all countries, organizations and international bodies. Creating a collaborative system for the protection of critical infrastructure has become an important concern of all states and a reference chapter of their security strategy. At European level in line with the directive 2008/114/CE of the Board, from december, 8th, 2008, concerning identification and designation of critical infrastructures, the productivity of strategic critical infrastructure protection system involved developing a timeline plan to ensure the functionality, continuity and integrity of critical infrastructures, in order to discourage, decrease and neutralize specific threats, risks and vulnerabilities. At national level, according to the National Strategy for Critical Infrastructure Protection 2011, such targets can be achieved only through collaboration, cooperation and partnership in interdisciplinary system, based on strategies, techniques, tactics and uniform procedures, largescaleed, which, in turn can facilitate the development of concrete actions and measures of protection, timely and effective. In this article we want to detail the main aspects of the strategic critical infrastructure, in a hybrid security environment pointed by the risks, threats and vulnerabilities that require collaborative systems between protection institutions of critical infrastructure and joint efforts by all the national responsible, in line with European democratic structures, measures and guidelines. [ABSTRACT FROM AUTHOR]

The specific opportunities offered by information and communications technology for the military field aim at ensuring the necessary conditions for substantial improvement of planning and engagement manner of modern war. It is about available informational systems that integrate sensors, cameras and other equipment for obtaining information and which are continuously perfected. These equipments show step by step the rising level of connectivity with the informational networks for ensuring an appropriate visibility of the battlefield, including placement of each fighter or means of fighting. In this article the analysis effort will be focused on detailing the information hierarchical model within the informational society with an emphasis on the main effects of the impact of informational era on the social environment. [ABSTRACT FROM AUTHOR]

The attack of September 11, 2001 has changed the approach to the concepts of terrorism and organized crime. Terrorism and organized crime are daily threats to international security and, therefore, it was seriously necessary to study the links between these two phenomena. By their nature, especially the objectives sought and the effects generated in society, activities in the field of organized crime and terrorism are placed, obviously, among offenses. [ABSTRACT FROM AUTHOR]

The current security environment is very dynamic and constantly changing. Regionally, in the Central, Eastern and South-Eastern Europe there are tensions that persist or grow, caused either by transnational criminality or by old ethnic, religious, territorial or separatist disputes to contest existing borders. [ABSTRACT FROM AUTHOR]

The army represents in the vast majority of countries around the world, one of the important state institutions. It is appreciated and perceived by both population and the public, political parties and civil society as a state structure of trust, which behaves like a strong arm preserving a high- quality of the civic, and the national traditions. At the same time, it is considered by both public authorities, and the population as a substantiated support, the need in natural disasters, critical social status or crisis, both for the entire nation, as well as local communities. Because of the nature and content of the tasks entrusted to it, the army plays an important role in society in which it activates. [ABSTRACT FROM AUTHOR]