An Approach to Designing IoT-Based Business Models

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Author(s): Iva Vojinović (University of Belgrade, Serbia), Dušan Barać (University of Belgrade, Serbia), Ivan Jezdović (University of Belgrade, Serbia), Milica Labus (University of Belgrade, Serbia)and Filip Jovanović (Project Management College, Serbia)
Copyright: 2020
Pages: 22
Source title: Securing the Internet of Things: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-5225-9866-4.ch009

Keywords: Computer Science & IT / Information Science Reference / Internet Technologies / IT Security and Ethics

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Abstract

This chapter will foster the understanding of the structure of business model elements in Internet of things field. Business model provides an efficient way to analyze, understand and manage strategically oriented goals for one or more stakeholders in order to create some value for end-users, but in the Internet of things there is not clear path for its development. An approach that will be used is the generally accepted principle of forming business model, Canvas template, which is a strategic template for understanding the relation between key partners, key activities, customers and clients, key resources, value proposition for customers in the form of products or services, relationships with customers, sales and distribution channels, cost structure, income flow. Presented is an integrated model with main aspects that should be covered when it comes to the Internet of things business model development, combining Canvas template, inside organizational structure and ecosystem restrictions.

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