Module 1 – Memo: Integration of Innovation Southern New Hampshire University MBA 580 Innovation & Strategy for High-Performance Organizations 01:50:56 GMT -05:00 To: Senior Management From: Katie Bassett, Middle Manager Date: August 4th, 2024 Subject: Integrating IoT into Companies P...
MBA 580 Innovation & Strategy for High-Performance Organizations
01:50:56 GMT -05:00
, To: Senior Management
From: Katie Bassett, Middle Manager
Date: August 4th, 2024
Subject: Integrating IoT into Companies Product Line
Introduction
As part of the ongoing efforts to remain competitive and innovative in the automotive
industry, the company is exploring the integration of Internet of Things (IoT) technologies in its
trucks and cars. The purpose of this memo is to explain why the company should integrate IoT
into its product line using the RWW (real, win, worth it) screening tool. The feasibility of the
product line will be discussed, along with the company’s ability to win market share, and any
potential benefits to the company that will come from producing this product. Finally, the
strategic importance of IoT and connected cars will be explained along with how it will impact
the company’s product plan.
RWW Screening Tool – Real, Win, Worth It
The first step in the RWW screening tool is to answer the question – Is it Real? There is a
clear and growing demand in the market for IoT technologies – connected cars and smart
transportation systems are becoming increasingly popular due to the enhancement to safety,
efficiency and convenience (Technologies, 2024). “The global IoT in automotive market was
valued at $102.3 billion in 2022, and is projected to reach $760.2 billion by 2032” (Allied
Market Research, 2023). With these projections, the potential market presents a substantial
opportunity to capitalize on. As stated in the comparative growth data chart, the projected market
01:50:56 GMT -05:00
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