Management of technology and innovation
Assessment Details
Case study ‘Advantech: evolution of its IoT ecosystem strategy’ (Links to an external site.) needs to be analysed relevant to innovation management.
This case is intended to illustrate to readers the challenges faced by Advantech’s CEO and co-founder K.C. Liu, as he guided the growth and development of his company.
Questions to consider
What are the ingredients of Advantech’s success?
What ‘bold business experimentation’ has Advantech used in its innovation process? Consider factors such as the role of the CEO as a chief innovator, use of design thinking, their product development strategy and execution, innovation culture among other factors.
Is there a systematic ‘approach’ to innovation at Advantech’? If yes, how would you characterise it? Can it be imitated? If not, why not?
If you were Advantech’s CEO successor, what would your priorities be to maintain and enhance innovation?
Suggested Report Outline
Introduction
Situation Analysis (e.g. SWOT, PESTLE, etc)
Assumptions, limitations (e.g. missing information)
Hypothesis
Evidence/proof of your hypothesis
Evaluation of evidence (pros & cons)
Recommendations and actions
References
Appendices
Management of technology and innovation
Advantech: evolution of its IoT ecosystem strategy
Guo (Ginkgo) Bai, Liman Zhao and Zhenrong Edison Wang
“IoT represents an ecosystem. Advantech is committed to providing platform services for IoT integrators in the entire ecosystem and conducting cooperation with companies in the industries of healthcare, manufacturing, retailing, environmental protection, and smart cities”, KC Liu, Founder and Chairman of Advantech Co., Ltd. (“Advantech”) spoke confidently at an executive forum held by a well-known business school in November 2017. He was invited to elaborate on his company’s IoT strategy. “IoT will experience an explosive growth in the next 15 years. For the moment, although I have yet to see any company make their fortune from IoT, but this doesn’t mean we won’t see it in the future. I’m convinced the IoT boom is in the offing”.
