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An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation: Building Smart Enterprises at Fortune 500 Companies

An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation: Building Smart Enterprises at Fortune 500 Companies

Copyright: © 2017 |Pages: 18
ISBN13: 9781522518327|ISBN10: 1522518320|EISBN13: 9781522518334
DOI: 10.4018/978-1-5225-1832-7.ch020
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MLA

Lee, In. "An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation: Building Smart Enterprises at Fortune 500 Companies." The Internet of Things: Breakthroughs in Research and Practice, edited by Information Resources Management Association, IGI Global, 2017, pp. 423-440. https://doi.org/10.4018/978-1-5225-1832-7.ch020

APA

Lee, I. (2017). An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation: Building Smart Enterprises at Fortune 500 Companies. In I. Management Association (Ed.), The Internet of Things: Breakthroughs in Research and Practice (pp. 423-440). IGI Global. https://doi.org/10.4018/978-1-5225-1832-7.ch020

Chicago

Lee, In. "An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation: Building Smart Enterprises at Fortune 500 Companies." In The Internet of Things: Breakthroughs in Research and Practice, edited by Information Resources Management Association, 423-440. Hershey, PA: IGI Global, 2017. https://doi.org/10.4018/978-1-5225-1832-7.ch020

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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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