Harvard’s Michael Porter and PTC CEO Summarize the Impact of IoT on Companies

The Internet of Things is changing more than products, it’s changing companies’ operations and organizational structure too.

Sourced through Scoop.it from: blogs.ptc.com

5 Videos explain the different elements that Harvard Business School Professor Michael Porter and PTC CEO Jim Heppelmann see with regards to the IoT and it’s impact on firms.  Important stuff to comprehend.  For instance: 

Making the Transition: “For many companies, the change from the traditional manufacturing model, to this new world of smart, connected products is a daunting organizational transformation,” says Heppelmann in his fifth video.  Yet there are techniques companies can use to make the transition, he advises. One is to form a cross functional steering committee that oversees a smart, connected products program, or initiative. Another is to form a center of excellence by drafting talent from different parts of the business to develop best practices for the broader organization. Another is the formation of a new business unit so that other business units that can then retain a strong focus on the traditional aspects of the business.

“These are all transition techniques, probably all temporary techniques, on the path to some new normal that could be years down the road by the time a company really masters where they’re going,” concludes Heppelmann 

Definitely review all of the videos

See on Scoop.itInternet of Things – Technology focus

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