BUSINESS TRANSFORMATION IN THE CONTEXT OF THE DEVELOPMENT OF INTERNET OF THINGS (IoT) TECHNOLOGIES

Abstract

The article is devoted to the actual problem of the modern development of the Internet of Things (IoT) and its consequences for business organizations. As an end-to-end technology, the IoT has a pervasive impact on the customer value chain, transforming the interactions of all its participants. Changes in the structure of market relations require the transformation of used business models and business systems. The purpose of this work is to identify new market conditions caused by the availability and popularity of the IoT-technology, as well as the corresponding directions for business transformation. The article defines the IoT, shows the variety of its use, identifies the necessary subsystems for the functioning technology, and describes the process of its implementation in the organization's business system. M. Porter's competitive forces analysis methodology is used to study the effects of IoT implementation by market participants. The conditions for the influence of the IoT on working with suppliers in the consumer value chain, the use of complementary technologies, competition in the promotion of IoT technology, consumer attitudes to it and potential actions of regulators are consistently revealed. As a result of the work, the main directions of business transformation are identified in accordance with the structural blocks of the business model, considered within the framework of the methodology by A. Osterwalder and Y. Pigneur. The practical significance of the work is to ensure the quality of business modeling by systematizing and considering the consequences of the IoT wider use by market participants. Each of the identified directions of business transformation caused by structural market changes, due to the spread of IoT technologies can be the subject of a more detailed study in the future, especially, their consideration at the level of business systems and business processes and projects.

Keywords: business process automation, business model, big data, Internet services platform, bargaining power of IT vendors, smart contract, digital transformation

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About the Author

Danil V. Bashmakov – Cand. Sci. (Economics), Docent; Associate Professor, MIREA – Russian Technological University, Moscow, Russia. E-mail: dv.bashmakov@mail.ru. SPIN РИНЦ 5080-2509. ORCID 0000-0001-8663-4757. ResearcherID CAI-9711-2022

For citation: Bashmakov D.V. Business Transformation in the Context of the Development of Internet of Things (IoT) Technologies // BENEFICIUM. 2022. Vol. 3(44). Pp. 6-13. (In Russ.). DOI: 10.34680/BENEFICIUM.2022.3(44).6-13