An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation

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14 citations0/0 files storedInternational Journal of Information Systems and Social Change

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Digital Innovation in Industries Digital Transformation in Industry Internet of Things and AI

Abstract

This paper introduces IoT categories used to build smart enterprises and discusses how Fortune 500 companies may use various IoT applications to innovate their business models. The authors' analysis reveals that there is a significant relationship between the type of IoT applications and the IoT adoption rate and there is also a significant relationship between the type of business model innovation and the IoT adoption rate. Finally, five implementation strategies for smart enterprise development are discussed.

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References

2009Business Models, Business Strategy and Innovation 2001Value creation in E‐business 2011Big data: The next frontier for innovation, competition, and productivity 2011The Business Model: Recent Developments and Future Research 2004The entrepreneur's business model: toward a unified perspective 2008Reinventing Your Business Model 1999An Integrated Model of Information Systems Adoption in Small Businesses 2007Business model innovation: it's not just about technology anymore

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