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The Internet of Things: Are you ready for what’s coming?

Author

Listed:
  • Saarikko, Ted
  • Westergren, Ulrika H.
  • Blomquist, Tomas

Abstract

Are you ready for what’s coming? As senior managers look to connect products, processes, and services to the growing field of the Internet of Things (IoT), this is an important preliminary question. Leveraging the IoT for firm benefit involves revisiting certain ideas that may have gone unquestioned for a long time. In this article, we begin by reviewing the complexity of the IoT, the complexities of an increasingly interconnected environment, and the increasing need to develop partnerships in order to create innovative solutions. We then offer practical insights from a case in which three actors with reciprocal specialties cooperated to create an IoT solution in the form of a connected appliance. While a shared spirit of optimism prevailed throughout the endeavor, reaching the finish line meant jumping a few hurdles along the way. Finally, we describe a number of fundamental issues related to business models, partnership strategy, data ownership, and technology diffusion that every enterprise should address before diving headfirst into the Internet of Things.

Suggested Citation

  • Saarikko, Ted & Westergren, Ulrika H. & Blomquist, Tomas, 2017. "The Internet of Things: Are you ready for what’s coming?," Business Horizons, Elsevier, vol. 60(5), pages 667-676.
    • Handle: RePEc:eee:bushor:v:60:y:2017:i:5:p:667-676
    DOI: 10.1016/j.bushor.2017.05.010
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    References listed on IDEAS

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    1. Lee, In & Lee, Kyoochun, 2015. "The Internet of Things (IoT): Applications, investments, and challenges for enterprises," Business Horizons, Elsevier, vol. 58(4), pages 431-440.
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    3. Weinberg, Bruce D. & Milne, George R. & Andonova, Yana G. & Hajjat, Fatima M., 2015. "Internet of Things: Convenience vs. privacy and secrecy," Business Horizons, Elsevier, vol. 58(6), pages 615-624.
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