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Management
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Integration of Innovation: The Need to Integrate IoT into the Product Line

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Overview
You work as a middle manager for one of the top U.S. producers of luxury and mass-market automobiles and trucks. The chief technology officer (CTO) of the company from the course scenario has been researching new technology developments that the company could integrate into its vehicles to enhance their usefulness and access to sensor data. Such data is acquired by the many digital sensors that have been integrated into vehicle subsystems over the past 20–30 years. The technology trend of particular interest to the CTO is the internet of things (IoT), the interconnection of embedded devices such as sensors and computers over the internet to share data. For automobiles, the trend points to creating connected cars.
Prompt
Senior management has decided to explore IoT for the company’s trucks and cars. Your task is to create an internal memo explaining that the company should integrate IoT into its product line using the RWW (real, win, worth it) screening tool from the Module One resources and the information from the CTO Brief, Comparative Growth Data, Comparative Operating Statistics, and Comparative Product Plans documents. Consider the following:
Discuss the feasibility of the product line (refer to RWW screening tool question number one: Is it real?).
Is there a need or desire for the product?
Is the size of the potential market adequate?
Can the product actually be made?
Will the final product satisfy the market?
Discuss the ability of the company to win market share (refer to RWW screening tool question number two: Can we win?).
Will your company’s products have a competitive advantage?
How will your competitors respond?
Can your company understand the market properly?
Discuss the potential benefits to the company of producing this product (refer to RWW screening tool question number three: Is it worth doing?).
Will the product be profitable at an acceptable risk?
Does launching the product make strategic sense?
Does the product fit your company’s overall growth strategy?
Will your company’s senior management support this project?
Based on the answers to the questions above, explain the reasons why IoT and connected cars are strategically important to the company.
Consider the evolving customer needs and desires; how would they impact the company’s product plan?
What do you think competitors will do (if anything) in response to changes in your company’s development plan?
Do you think that accelerating development of connected cars will help grow the company?

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Integration of Innovation
Student's Name
Institutional Affiliation
Course
Professor
Date
Memorandum
To: Chief Technology Officer
From: Middle Manager
CC: Senior Management
Date: 26th September, 2023
Subject: The Need to Integrate IoT into the Product Line
Feasibility Assessment
The feasibility of integrating IoT into the company's vehicle product line is indeed substantial. Firstly, the comparative growth data firmly establishes the reality of this endeavor, with a market projected to exceed $510 billion by 2030, underscoring a clear need and desire for IoT-connected vehicles. The potential market size is adequate, comfortably justifying the company's entry and subsequent growth in this domain. Furthermore, the comparative product plans unequivocally demonstrate the company's competence in designing and developing IoT-integrated vehicles. These factors collectively signify that the final product is poised to meet and likely exceed market demands, affirming this strategic initiative's feasibility and potential success.
Ability to Win Market Share
The company exhibits a promising capacity to secure a substantial market share within the IoT-connected car segment. This assertion is fortified by the inherent competitive advantages offered by its products, characterized by a pronounced emphasis on innovation and the potential for elevated profit margins, notably standing at 21% for connected cars. Nevertheless, it is imperative to acknowledge the proactive strides taken by formidable competitors such as BMW, Toyota, and VW in their relentless pursuit of IoT and autonomous driving technologies. Such a competitive landscape necessitates unwavering vigilance and a perpetual commitment to innovation. Fortunately, the company enjoys a strategic advantage through its access to comprehensive market data and a network of pivotal partnerships, exemplified by the collaboration with Waymo. These strategic assets position the company in the market and equip it with the insights to discern market dynamics and effectively cater to evolving customer needs.
Potential Benefits to the Company
The potential benefits of producing IoT-integrated vehicles are substantial and align with the RWW screening tool criteria. First, the comparative growth data indicates the potential for profitability, with the connected car segment offering higher profit margins. While there are initial research and development costs, the long-term profit outlook is favorable. According to Ashima et al. (2021), a product sho...
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