Xerox invented the core technology that made personal computing easy and fun—the mouse, the graphical user interface and the ethernet—but it was Steve Jobs who built the Macintosh and profited. By now, the story has become so well known that it’s almost a cliche. The story resonates because it ties into two recurring themes: The wily entrepreneur outmaneuvering the bloated corporate behemoth and the primacy of business acumen over the development of core technology. Yet there’s a lot more to it than that.
Companies will need to think innovatively about customer needs. CEOs must ask ‘In the IOT what is our new value proposition?’ Firms will have to hire software engineers to design and deliver service solutions based on usage data. They will need data analysts to review all the data they gather from their devices. In other words every company will have to become a service provider and a software company – or perish. Continue reading