Planning the Dive: IoT Longevity for OEMS
by Exosite, on November 17, 2016
Creating an IoT framework strong enough to support multiple divisions is key in implementing a company-wide IoT strategy. Last week we established the idea that industrial OEMs need to plan out their innovation so divisions can work together to develop a single, flexible IoT ecosystem for the entire organization.
As an industrial IoT platform provider, we know that only a unified company will be able to take the IoT plunge effectively. In order to accommodate these ecosystems, internal organization needs to be stabilized to accommodate the pressure.
Successful organizations adopt the following practices as they develop their long-term IoT strategy:
- Strategic clarity and executive sponsorship of corporate vision. If corporate leadership doesn’t understand and communicate the why behind their IoT initiatives, then the how does not matter. Piercing clarity from the top about how IoT affects the strategic success or failure of a company leads to a greatly increased probability of success.
- Organizational alignment around corporate objectives. If organizational structures (for example, a business unit, a cross-departmental steering committee, or a corporate innovation team) are not aligned toward–and empowered to–execute the IoT vision of a company, failure is near certain. Leading companies mobilize an IoT steering committee or form a new business unit empowered with leading the charge.
- Agile culture that adopts necessary organizational changes. Change is hard for people; organizations are made of people, and so change is hard for organizations. Corporate cultures that are able to adapt quickly to new market pressures, new technologies, and new ways of doing business are best equipped to carry out a digital transformation initiative effectively.
Next week we’ll be covering the standardization of the project-selection process when it comes to corporate-wide IoT.