With our publications we cover the most diverse research areas that arise in the field of man, task and technology. In addition to traditional Business Information Systems topics such as knowledge management and business process management, you will also find articles on current topics such as blended learning, cloud computing or smart grids. Use this overview to get an impression of the range and possibilities of research in Business Information Systems at the University of Duisburg-Essen.

Type of Publication: Article in Collected Edition

Understanding Value Creation in Digital Companies – A Taxonomy of IoT-enabled Business Models

Author(s):
Woroch, Robert; Strobel, Gero
Editor:
AiS
Title of Anthology:
Proceedings of the 29th European Conference on Information Systems (ECIS)
Location(s):
A Virtual AIS Conference
Publication Date:
2021
Language:
English
Keywords:
Digital Value Creation, Internet of Things, Business Model, Taxonomy
Citation:
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Abstract

The spread of the Internet of Things offers companies the potential to exert a disruptive influence on existing market structures and entire domains. The shift from product to service orientation and the integration of the customer as a value co-creator makes the identification and development of value-adding, IoT-based offerings a central challenge. As a link between strategy and business processes, business models are a suitable tool to meet this challenge. However, present business models lack of consideration of IoT specific characteristics. Against this background we provide a taxonomy for the description of IoT-based business models based on systematic literature research. Furthermore, the taxonomy is applied to 103 business models, demonstrating its usefulness. We also provide insights into the design of business models within two domains. The taxonomy provides a tool for investigating busi-ness models, especially how IoT can be incorporated into them and also a conceptual basis for future research.