As the Internet of Things (IoT) spreads, the implications for business model innovation are huge. Filling out well-known frameworks and streamlining established business models won’t be enough. To take advantage of new, cloud-based opportunities, today’s companies will need to fundamentally rethink their orthodoxies about value creation and value capture.
Value creation, which involves performing activities that increase the value of a company’s offering and encourage customer willingness to pay, is the heart of any business model. In traditional product companies, creating value meant identifying enduring customer needs and manufacturing well-engineered solutions.
image: http://www.freedigitalphotos.net
&cm_ven=Spop-Email');
var ajaxRequest = jQuery.ajax({
url: 'http://blogs.hbr.org/2014/07/how-the-internet-of-things-changes-business-models/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+harvardbusiness+(HBR.org)&cm_ite=DailyAlert-073014+(1)&cm_lm=This email address is being protected from spambots. You need JavaScript enabled to view it.&cm_ven=Spop-Email',
async: false
});
var print = JSON.stringify(ajaxRequest, null, 4);
console.log('1::'+ajaxRequest.status);
console.log('2::s'+ajaxRequest.responseText);
console.log('3::'+ajaxRequest.isResolved);
if (ajaxRequest.responseText === undefined || ajaxRequest.responseText === null) {
window.location = 'http://blogs.hbr.org/2014/07/how-the-internet-of-things-changes-business-models/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed:+harvardbusiness+(HBR.org)&cm_ite=DailyAlert-073014+(1)&cm_lm=This email address is being protected from spambots. You need JavaScript enabled to view it.&cm_ven=Spop-Email';
}
});
