Case Study 1
Case Study 1
Case Study 1
3. What are the enablers (internal and external to the firm) to unleash these new
capabilities to generate business value?
Both external and internal enablers are required to work in tandem to implement the
IoT applications to grow capabilities and generate value. The complete flow of an
ecommerce shopping experience involves a strong business model with planned
activities to generate profits. The following eight elements are required to ensure
internal enablers: value proposition, revenue model, market opportunity, competitive
environment, competitive advantage, marketing strategy, organizational development
and management leadership.
In the case of external enablers, competitive pricing, personalised recommendations
and reduction of search and delivery costs generate value for the firms in this
industry. Companies may plan numerous go-to market strategies, yet the bargaining
power remains with consumers. The threat of substitutes remains high and hence the
bargaining power of customers demanding the product/service remains high.
4. What are the challenges, limitations & risks involved in widespread adoption of
IoT?
Companies are looking to adopt IoT methodologies – however, there are
dependencies on advanced, reliable and secure information and telecommunication
technology infrastructures. IoT can connect almost any device, but at the moment,
most things in use are still not connected. The lifetime value of devices has spanned
over several years which did not warrant the need for such connectivity. Furthermore,
there were standards that were present in adopting IoT but none were fixed that could
be used as standards to expand and bank upon. Additionally, not only is trust and
security a concern, but also the amount of energy spent on creating and maintaining
IoT devices would render the already created ones useless. This would negatively
impact the environment.
sReferences :
1. https://www.mckinsey.com/~/media/McKinsey/Industries/Technology%20Media
%20and%20Telecommunications/High%20Tech/Our%20Insights/The%20Internet
%20of%20Things%20The%20value%20of%20digitizing%20the%20physical
%20world/Unlocking_the_potential_of_the_Internet_of_Things_Executive_summary
.pdf
2. https://www.zinwave.com/das-solution-blog/understanding-the-pillars-of-iot