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Integration of IOT in strategic management: A review of current trends, future possibilities, and challenges
1 Department of Management, State University of Bangladesh, Bangladesh.
2 Department of Environmental Science, Bangladesh University of Professionals, Bangladesh.
3 The Institute of Chartered Accountants of Bangladesh (ICAB), Bangladesh.
4 United International University, Bangladesh.
Research Article
International Journal of Science and Research Archive, 2024, 12(02), 2634–2645.
Article DOI: 10.30574/ijsra.2024.12.2.1565
Publication history:
Received on 14 July 2024; revised on 23 August 2024; accepted on 25 August 2024
Abstract:
With IoT being one of the buzzwords of today’s modern landscape, this systematic review explores the adoption of Internet of Things (IoT) technologies within organizations. The study is focused on the strategic implications of IoT. By gathering findings from various research studies conducted previously, the review points out the benefits, challenges, critical factors, and taxonomies associated with IoT adoption. The findings reveal that IoT adoption enhances operational efficiency, quality, and innovation. But it also poses challenges related to technological, organizational, environmental, and human factors. Taxonomy of IoT adoption in organizations is proposed, showing industry sectors, application domains, technology types, and adoption levels. Additionally, four critical factors influencing IoT adoption are identified: technological, organizational, environmental, and human factors. The review reveals the need for empirical, comparative, longitudinal, and interdisciplinary studies to deepen understanding and inform practice regarding this matter. Overall, the study provides valuable insights for both theory and practice as it offers a theoretical foundation and practical recommendations for organizations and policymakers for successful IoT adoption in strategic management contexts.
Keywords:
Internet of Things (IoT); Strategic management; Organizational adoption; Technological innovation
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Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0
