The Internet of Things (IoT) promises huge potential economic benefits. However,\r\ncurrent IoT applications are in their infancy and the full potential of possible business\r\nopportunities is yet to be discovered. To help realize these economic benefits,\r\nworkable business models are required that show where opportunities exist. In this\r\narticle we describe the Business DNA Model - a representation of a business model\r\nin terms of Design, Needs, and Aspirations, which greatly simplifies presentation,\r\nanalysis, and design of business models. This model can be used by IoT stakeholders\r\nto generate and analyse stories, models, and projects for strategic management,\r\nbusiness strategy, and innovation. We present one scenario - smart logistics - to\r\nillustrate how the Business DNA Model might be applied.
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