ITM 700 Lecture Notes - Lecture 6: Harvard Business Review, Enterprise Resource Planning, Thomas Edison

• School: Ryerson University
• Department: Information Technology Management
• Course: ITM 700
• Professor: Shikui Wu

Document Summary

Article: how smart, connected products are transforming competition. There are three waves that took place in the past fifty years that changed competition and strategy. These waves are known as the waves of it-driven competition. The first wave took place between 1960s and1970s. During this wave value chain activities were automated, productivity increased significantly, new data could be captured and used for analyzing. The second wave took place 1980s and 1990s; this wave was triggered do to the rise of the internet. During the second wave integration and coordination between activities were made possible with external suppliers, customers despite geographic location. The third wave that is currently taking place; enables it to become an integrated part of the product. This includes embedded sensors, processors, software and connectivity in products. Smart connected products include three fundamental components these include: (1) physical components, (2) smart components, (3) connectivity components. Physical components include all mechanical and electrical parts.