Event Monitoring and Management Process in a Non-Hierarchical Business Network

This chapter introduces the basic understanding of an operational event in terms of identification, prioritization and a possible resolution plan. The chapter first reviews the existing literature on event monitoring and management (EMM) applicable in a collaborative business network. Then, it highlights the EMM from the perspectives of a networked business. Next, it discusses different types of events commonly available within a business network. Further, the chapter articulates the overview of business collaboration in a non-hierarchical network (NHN), and outlines the ontology-based approach for collaborative EMM. An example is illustrated, based on information and communication technology (ICT)-based phenomenon applicable for collaborative EMM. The basic outcomes of this research are discussed. The chapter closes with a discussion on future research directions.