In the November cover story of Harvard Business Review, How Smart, Connected Products Are Transforming Competition, authors Jim Heppelmann, president and CEO of PTC, and Professor Michael Porter of the Harvard Business School, examine how smart, connected products are shifting competition in many industries, especially manufacturing.
Smart, Connected Products
IT is becoming an integral part of the product itself, and these smart, connected products:
- Require companies build and support an entirely new technology infrastructure
- Enable four new categories of capabilities: monitor, control, optimize, automate
- Create breakthroughs in differentiation, operational effectiveness, and customer experience
The 10 Strategic Choices
To capitalize on these opportunities companies face 10 new strategic choices, for example:
- Which set of smart, connected product capabilities should the company pursue?
- How does the company manage ownership and access rights to product data?
- Should the company change its business model?
This article provides a framework for developing a strategy and achieving competitive advantage in a smart, connected world.
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