INFORMATION AND RESILIENCE IN ENSURING THE SUSTAINABILITY OF INSTITUTIONAL SYSTEM

Mirea-Gheorghe Berechet () and Simona-Ionela Becherescu ()
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Mirea-Gheorghe Berechet: Doctoral School of the Romanian Academy, Romania
Simona-Ionela Becherescu: Doctoral School of the Romanian Academy, Romania

Contemporary Economy Journal, 2018, vol. 3, issue 4, 204-208

Abstract: At present, mankind, at the beginning of the era of knowledge, crosses rapidly the era of the fourth industrial revolution. Changes are so rapid and profound that, with reference to the whole of human history, there has never been a moment characterized by such great expectations or potential danger. All new developments and technologies have a key feature in common: they exploit the generalized power of digitization and information technology. The accumulation of information available today, the speed of their processing and the acceleration of innovation are difficult to understand or anticipate, constituting a source of constant surprise. Decision makers, often trapped in traditional, linear thinking clichés, are too absorbed by the immediate preoccupations to think strategically in relation to the forces that induce disruptions in institutional systems and which tend to shape our future. Technological competition implies the resilience of the activity and the ability of the institutional system to quickly reconfigure and adapt its purpose in accordance with changes of any kind: political-economic, national and international, climate etc. Resilience is given by safety, efficiency, quality, high productivity, adaptability, success, modern management, superior products, optimal costs. Thus, the creative factor must be supported and promoted by empowered institutions and policy-makers by supporting research and innovation, promoting sound policies to reduce the budget deficit, better spending orientation (improving infrastructure, investing in human capital), and sustainability tax.

Keywords: information; knowledge; risk; institutional resilience; management (search for similar items in EconPapers)
JEL-codes: H00 O10 P00 (search for similar items in EconPapers)
Date: 2018
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