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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

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  • In Lee

    (School of Computer Sciences, College of Business and Technology, Western Illinois University, Macomb, IL, USA)

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.

Suggested Citation

  • In Lee, 2016. "An Exploratory Study of the Impact of the Internet of Things (IoT) on Business Model Innovation: Building Smart Enterprises at Fortune 500 Companies," International Journal of Information Systems and Social Change (IJISSC), IGI Global, vol. 7(3), pages 1-15, July.
    • Handle: RePEc:igg:jissc0:v:7:y:2016:i:3:p:1-15
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