Journal
JOURNAL OF MARKETING MANAGEMENT
Volume 33, Issue 1-2, Pages 111-130Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/0267257X.2016.1248041
Keywords
Internet of things; IIoT; entrepreneurship theory; transaction cost theory; industrial services; business models; nonownership; uncertainty
Categories
Ask authors/readers for more resources
In this article, we argue that the Industrial Internet of Things (IIoT) offers new opportunities and harbours threats that companies are not able to address with existing business models. Entrepreneurship and Transaction Cost Theories are used to explore the conditions for designing nonownership business models for the emerging IIoT with its implications for sharing uncertain opportunities and downsides, and for transforming these uncertainties into business opportunities. Nonownership contracts are introduced as the basis for business model design and are proposed as an architecture for the productive sharing of uncertainties in IIoT manufacturing networks. The following three main types of IIoT-enabled business models were identified: (1) Provision of manufacturing assets, maintenance and repair, and their operation, (2) innovative information and analytical services that help manufacturing (e.g. based on artificial intelligence (AI), big data, and analytics), and (3) new services targeted at end users (e.g. offering efficient customisation by integrating end users into the manufacturing and supply chain ecosystem).
Authors
I am an author on this paper
Click your name to claim this paper and add it to your profile.
Reviews
Recommended
No Data Available