The Internet of Everything: Smart things and their impact on business models

David Langley*, Jenny Doorn, van, Irene C.I. Ng, Stefan Stieglitz, Alexander Lazovik, Albert Boonstra

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

14 Citations (Scopus)
44 Downloads (Pure)

Abstract

The internet of everything (IoE), connecting people, organizations and smart things, promises to fundamentally change how we live, work and interact, and it may redefine a wide range of industry sectors. This conceptual paper aims to develop a vision of how the IoE may alter business models and the ways in which individuals and organizations create value. We review literature on networked business models and service ecosystems, and show that a clearer understanding is needed of how the IoE will impact on the ways that organizations go about their business at the micro, meso and macro levels. Combining this with an inductive, vignette-based approach, we present a new taxonomy of smart things based on their capabilities and their connectivity. We derive their implications for business models and conclude the paper with propositions that form a research agenda for business researchers.
Original languageEnglish
Pages (from-to)853-863
Number of pages11
JournalJournal of Business Research
Volume122
Early online date14-Jan-2020
DOIs
Publication statusPublished - Jan-2021

Keywords

  • Digitalization
  • Artificial Intelligence
  • Networked business models
  • Service-dominant logic
  • Value creation

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