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7th ESRC Business Model Seminar Series



From Servitization to the Service of Things:

New Business & Economic Models of the Internet-of-Things from a Service-Dominant Logic Approach


February 2nd, 2016, WMG, University of Warwick


The phenomenon of servitization has resulted in two parallel streams of literature. In the first, servitization is viewed as an extension of manufacturing research, a mindset attributed to as a goods-dominant (GD) logic. Within this traditional logic, service is considered to be an add-on to the physical product and as more attributes of service are added to achieve an uninterrupted performance of a physical asset, complexity increases.

A second stream of literature (which term customer co-created servitization) proposes changing the mindset away from the traditional manufacturing approach, towards a service-dominant (SD) logic approach. Placing greater emphasis on the customer’s context of use, it focuses on the co-creation of value attained by the customer when experiencing or using the physical product. This applied SD logic approach considers servitization as the process of designing a service system that incorporates both the firm and customer’s resources. These include both physical products and human activities required to realise the value-in-use, such that the customer’s desired outcome is achieved, while the firm remains viable doing so.

Join us to hear how academics and practitioners are utilising the principles of this applied SD logic approach to servitization and business models for the future Internet-of-Things (IoT) that could reduce complexity and mitigate risks. Comprising of talks by both academic and industrial thought leaders in the areas of customer co-created servitization, business models and digital innovation, the seminar aims to provide:

• The conceptual basis of applied SD logic for servitization

• Lessons learnt from research in the area of customer co-created servitization

• A research agenda for the future of IOT-enabled service and new economic and business models


Presentations


About the ESRC Business Models Seminar Series

Business models tell a story about the business, focusing attention on essential facets of a business. Business and management researchers are increasingly drawn to business models and practicing managers frequently refer to their own. Yet, research indicates that over 66% of firms have given no thought to their business model and are unable to articulate it.

Accordingly, achieving competitive advantage for the majority of UK firms is an uphill battle and is a cause for concern, given the intensely competitive nature of the market place. This seminar series focuses on seeking to maximise the contribution of business models to UK jobs and productivity growth, facilitate high-quality collaborative research on business models and performance; and maximise the policy and strategy impact of business model research.


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