Senior management has decided to explore IoT for the company’s trucks and cars. Your task is to create an internal memo explaining that the company should integrate IoT into its product line using the RWW (real, win, worth it) screening tool from the attached Harvard Business Review resource and the information from the CTO Brief, Comparative Growth Data, Comparative Operating Statistics, and Comparative Product Plans documents. Consider the following:
Discuss the feasibility of the product line (refer to RWW screening tool question number one: Is it real?).
Is there a need or desire for the product?
Is the size of the potential market adequate?
Can the product actually be made?
Will the final product satisfy the market?
Discuss the ability of the company to win market share (refer to RWW screening tool question number two: Can we win?).
Will your company’s products have a competitive advantage?
How will your competitors respond?
Can your company understand the market properly?
Discuss the potential benefits to the company of producing this product (refer to RWW screening tool question number three: Is it worth doing?).
Will the product be profitable at an acceptable risk?
Does launching the product make strategic sense?
Does the product fit your company’s overall growth strategy?
Will your company’s senior management support this project?