Question

Please read the online article called: Smart-building management system: An Internet-of-Things (IoT) application T business model in Vietnam by Duc Nha Lea, Loc Le Tuanb,⁎, Minh Nguyen Dang Tuanc , and summerise it.

Answer 1

The importance and speed of IoT (Internet-of-Things) has recently been appreciated by education experts and policy makers. The advent of ubiquitous sensors, smart devices and the power of an open band internet enabled the integration of data collection networks and synchronized synchronization, which ultimately helps to make faster decisions and physical responses to changes in a real-time way. The virtual human and material connectivity brings efficient management and emotional comfort to network operators, end users and other third-party players, leading to the adoption of IoT-based platforms in production and use. Excessive urban sprawl has long led to overcrowding, which creates market opportunities for smart building solutions based on IoT applications. However, business models for IoT deployment remain stable in the emerging and short-term economy. In this paper, the authors use Business Model Canvas to explore the origins of IoT in Vietnam and to develop the output of Business Model Canvas for entrepreneurs. The findings reflect the high competitive advantages of local businesses and suggest a vertical integration of joint ventures as an entry point for foreign investors.

The main highligths of this model are -

• To provide evidence on how IoT initiatives adoption for demand-and supply-side mechanisms operated in Vietnam
• To capitalize on relevant literature of IoT-based technology, application, and business model canvas (BMC)
• To propose an output of BMC for emerging economy towards the infant IoT
• To embrace the vertical integration strategy for the global value chain and boost the IoT-based competitive advantages
• To provide critical implications for both potential investors and incumbent enterprises