Published on 05/28/2017 | Technology
Professor Michael E. Porter of the Harvard Business School and PTC CEO, Jim Heppelmann, have collaborated to author this examination of how the Internet of Things is transforming competition—particularly in manufacturing and industrial applications. This article was originally published in the November 2014 edition of the Harvard Business Review with continued work in the follow-up, How Smart, Connected Products Are Transforming Companies.
Smart, connected products, operations, and applications will exponentially expand opportunities to introduce new features, functions, and capabilities. The breadth of change will disrupt competition and change the value of products themselves. Companies will need to rethink how products and services are conceived, designed, sourced, manufactured, operated, and serviced. It will also require the selection of the right IoT platform to best meet their new IoT-enabled business.
Before writing a line of code or connecting a single sensor, companies must address 10 strategic choices that will shape how they embrace the IoT. Every company will have their own set of answers, but all companies must ask themselves a series of fundamental questions—including, “What business am I in?” Complete the contact form below to gain exclusive insights from this HBR article, including:
• The new technology stack needed to build and support smart, connected products, operations, and applications,
• Four capability areas of smart products,
• The IoT’s effect on Porter’s famous five forces of competition,
• Redefinition of industry boundaries, and
• 10 strategic choices posed by the industrial IoT.
