From Servitization to the Service of Things:
New Business & Economic Models of the Internet-of-Things from a Service-Dominant Logic Approach
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
- From Servitization to the Service of Things: New Business & Economic Models of the Internet-of-Things from a Service-Dominant Logic Approach: Introduction by Professor Irene Ng (University of Warwick)
- Servitization: Confused Customer Courts Complacent Contractor by Simon Davis-Poynter (Jigsaw Thinking Ltd)
- Why do Multiple Business Models Co-Exist in Servitized Firms? by Dr Laura Phillips (University of Exeter)
- The Biomimetic Bank: How SD Logic, Servitization and Biomimetics are Transforming Bank Marketing by Dr Graham Hill (Optima Partners, Nyras Capital and Ctrl-Shift)
- You, Yourself as Customer by Paul Tasker (Co-Founder and Director, HAT Data Exchange Ltd)
- Servitization of the Home: IoT Development of Use-Visibility Measures by Dr Glenn Parry (University of the West of England)
About the ESRC Business Models Seminar Series