An Exploratory Investigation of Product Firm's Transition to Open Cyber Physical System (CPS) and Emerging Product Innovation Management Issues

In the era of Industry 4.0, the basis of competition and innovation increasingly shifts from individual product’s cost, differentiation, and flexibility attributes towards network of connected products and insights from product data analytics. As products are connected to the Industrial Internet of Things (IIOT) and function in the context of Cyber-Physical Systems (CPS), firms need to move beyond the blinkered perspective as a product firm towards the strategic notion as a network and even to organize its own Internet of Things and Cyber-Physical Systems