Abstract
Digitally dependent firms, which are linked to a large number of other firms with varying capabilities, are challenged on evaluating networks with which to engage. Empirically supported heuristic guidance can aid firms in identifying alliances to strengthen capability. We report a case study of firms linked to the Internet of Things (IoT) with a broad view of firms that leverage digital technologies to offer a diverse range of next generation consumer and industrial products and services. This article includes a network analysis of their publicly declared deals to reveal clusters of high volume deals-making activity and their respective hub firms. Based on the rationale of deals of the hub firms, the firms are categorized in a perceptual framework of market-oriented versus technology-seeking inclination. The inclinations of these hub firms were found to vary between technology-seeking, market-oriented, and ambidextrous. The results of this article can inform hub firms in assessing investment portfolios, nonhub firms in evaluating networks governed by hub firms, and policy makers to design incentives for digital adoption.
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