How product-centric firms transition to IoT-enabled servitised firms: A dynamic capabilities perspective

Internet-of-Things (IoT) technology may assist firms in transitioning to service-oriented business models but the empirical research base on how such transitions are accomplished is limited. This study first develops a conceptual framework using the resource-based view and dynamic capability theory and then further refines this framework via two embedded case studies. Our findings show broad validation of earlier work but highlight that there are more similarities between vastly different IoT-enabled servitised business models than may be anticipated based on the existing literature, which stresses idiosyncratic journeys. Our framework serves as a starting point for confirmatory research and practice implementation.