Understanding IoT: A Strategic Management & Leadership Perspective

This report identifies the less proliferation of the technology Internet of things in the present business environment. The technology which has the potential of shaking up the entire tech spectrum is not being harnessed to its true potential. The report discusses the problem identification, information supporting the problem identification, statistical techniques used, and recommendations. The statistical techniques used include correlation, long term trend analysis, and dynamic programming. The report recommends increasing awareness of the technology and upping the security features of the cloud.

Running Head: Strategic Management & Leadership
Strategic Management & Leadership
Project- Business Problem

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Table of Content
Problem Identification...........................................................................................................................2
Information supporting the Problem Identification...............................................................................3
Method of collecting Information.........................................................................................................3
Testing of Information...........................................................................................................................3
Cronbach’s Alpha...............................................................................................................................3
Literature Review..............................................................................................................................3
Statistical Techniques used....................................................................................................................4
Correlation.........................................................................................................................................4
Long term trend analysis...................................................................................................................4
Dynamic Programming......................................................................................................................4
Usage of Technology.............................................................................................................................5
Recommendation and Conclusion.........................................................................................................5
References.............................................................................................................................................6

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Problem Identification
Internet of Things or the popularly called as IOT has evolved from the advanced technology or a set
of cutting edge technologies to the present situation today where due to the technology, plethora of
Home devices, household items and automobiles are connected and working seamlessly
(Mukhopadhyay & Suryadevara, 2014). However, the growth is contained in US and particularly in
San Francisco area; other places will take time to catch up to the technology. The above introduction
forms the preamble for the problem which is based on Understanding IOT. The real issues which lies
here is to educate the customers and their ability to understand the impact of the cutting edge
technology for betterment of the consumers (Lee & Lee, 2015).

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Information supporting the Problem Identification
Plethora of Business news articles, Journal Articles, Primary research in a few household and other
secondary researches led to the identification of the problem which is profound in nature. Moreover
the information was gathered by conducting 5-6 face to face interviews with people working in the
technology domain. All the information collected from the primary and secondary sources led to the
findings of the report.
Method of collecting Information
Method Purpose
Interviews One on one conversation with a person gives a
better understanding of the issue and also helps
in understanding the root cause and its potential
implication on the business community and the
end customers (Creswell & Clark, 2017).
Existing record reviews This consists of examining the existing
databases, report, internet articles and blogs to
understand the prevalence of the problem
(Sekaran & Bougie, 2016).
Observation Observations help in producing both the
narrative data which is qualitative in nature and
quantitative data (Jorgensen, 2015).
Ethnographies, Oral History and Case studies This is very useful data collection method and
involves focussing on a single phenomenon and
provides a holistic approach to the evaluation.
Testing of Information
Cronbach’s Alpha-Cronbach alpha is used as a measure of internal consistency which shows
how closely related a set of items in a group are. It is also considered as a measure of scale
reliability. Thus, Cronbach alpha is a great measure to identify the reliability, internal consistency
related to a scale of test or test items (Bonett & Wright, 2015).
Literature Review- Validity is an indication of how sound the research conducted is, in order to
validate the research; a literature review was conducted to validate the information received. This
makes the research fool proof by testing it against the parameters of reliability and validity (Noble &
Smith, 2015).

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Statistical Techniques used
Correlation
As the name suggests, correlation is a statistical technique which is used to investigate and establish
the relationship between two or more quantitative and continuous variable. This analysis method
helps in establishing a relationship between the two variables with the aim of further improvement.
In the case here, the less awareness in the general public about the cutting edge technology is due to
factors such as technology in the nascent age, lesser adoption, lack of knowledge, lesser
understanding of the utility of the tech and other such factors (Shao, Dai, Chen & He, 2016).
Long term trend analysis
Long term trend analysis is a practice used by various business organizations which comprise of
collecting and collating the historical information and records regarding the phenomenon and try to
establish or recognize some pattern or trend with the phenomenon. Here it can be seen that
Internet of Things for the first time was introduced in the year 1999 by Kevin Ashton, who was an
innovator and consumer sensor expert. Over the year, almost all the tech companies are creating
products to enable the use of IOT with their devices. But leaving behind ALexa, Google Home and
other such devices the tech has not gained a significant momentum. The trend analysis shows that it
takes a significant amount of time and investment before proliferation of the technology (Chatfield,
2016).
Dynamic Programming
Dynamic programming is both computer programming and mathematical optimization method
which finds great usage in plethora of research fields. The idea here is to break down a complicated
problem into smaller and simpler sub problems arranged in a recursive manner (Puterman, 2014).
Hence, the problem of IOT awareness can be broken down into other smaller sub problems such as:
 Attack on the Cloud infrastructure
 Security issues on the front of Artificial intelligence
 Problem with the Chat bots
 Limited use and understanding of Artificial intelligence
 Lack of Confidence

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Usage of Technology
(Source: Riggins & Wamba, 2015)
Internet of things is one of its revolutionary technologies which has the potential of disrupting the
entire tech spectrum, and also step up the pedestal of technological reforms across the globe. As
seen from the figure here, IOT finds great usage in Smart appliances, Smart energy meters, Wearable
devices, connected cars and Smart healthcare devices. To conclude, Internet of things will connect
every home appliance or device with every other device and create an Aura of smart tech driven
appliances, homes, industry and community.
Recommendation and Conclusion
The report here has identified less proliferation of the technology Internet of things in the present
business environment. The technology which has the potential of shaking up the entire tech
spectrum is not being harnessed to its true potential. It is advised that atleast 30% of the efforts
have to be deviated towards increasing the awareness of the technology and how it can be of great
usage for the consumers and industries. Tech adoption always takes time, thus the stakeholders
have to be well aware of the fruits of technology before they start to leverage the technology for
their benefit.
Another big challenge with the evolution and prevalence of IOT is security issues related to the data
management on the cloud. A lot of attacks in the past on the cloud pertaining to DDoS, Ransomware
and many others are a reflection that the data of the users is open for breach. Thus, it is
recommended to up the security features of the cloud and enable double to triple layer of

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protection of the cloud. It is one of the areas, if would pay attention to, will definitely increase the
proliferation of technology.
References
Bonett, D. G., & Wright, T. A. (2015). Cronbach's alpha reliability: Interval estimation, hypothesis
testing, and sample size planning. Journal of Organizational Behavior, 36(1), 3-15.
Chatfield, C. (2016). The analysis of time series: an introduction. CRC press.
Creswell, J. W., & Clark, V. L. P. (2017). Designing and conducting mixed methods research. Sage
publications.
Jorgensen, D. L. (2015). Participant observation. Emerging trends in the social and behavioral
sciences: An interdisciplinary, searchable, and linkable resource, 1-15.
Lee, I., & Lee, K. (2015). The Internet of Things (IoT): Applications, investments, and challenges for
enterprises. Business Horizons, 58(4), 431-440.
Mukhopadhyay, S. C., & Suryadevara, N. K. (2014). Internet of things: Challenges and opportunities.
In Internet of Things (pp. 1-17). Springer, Cham.
Noble, H., & Smith, J. (2015). Issues of validity and reliability in qualitative research. Evidence-Based
Nursing, ebnurs-2015.
Puterman, M. L. (2014). Markov decision processes: discrete stochastic dynamic programming. John
Wiley & Sons.
Riggins, F. J., & Wamba, S. F. (2015, January). Research directions on the adoption, usage, and
impact of the internet of things through the use of big data analytics. In System Sciences
(HICSS), 2015 48th Hawaii International Conference on (pp. 1531-1540). IEEE.
Sekaran, U., & Bougie, R. (2016). Research methods for business: A skill building approach. John
Wiley & Sons.
Shao, X., Dai, X., Chen, Z., & He, X. (2016). Real-time 3D digital image correlation method and its
application in human pulse monitoring. Applied optics, 55(4), 696-704.

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