The Effects of the Internet of Things and Big Data to Organizations and Their Knowledge Management Practices

Abstract

Abstract. New technologies are promising us many upsides like enhanced health, convenience, productivity, safety, and more useful data, information and knowledge for people and organizations. The potential downsides are challenges to personal privacy, over-hyped expectations, increasing technological complexity that boggles us. Our point is this change requires scientific discussion from the point of management, leadership and organizations -that is, it is time to discuss the meaning of these challenges seriously also in terms of existing traditions of management science. This review type article discusses the nature and role of the Internet of Things (IoT), Big Data and other key technological waves of ubiquitous revolution vis-á-vis the existing knowledge on management, organizations and knowledge management practices in organizations. Recent changes in the fields of robotics, artificial intelligence and automation technology indicate that all kinds of intelligence and smartness are increasing and organizational cultures are going to change indicating fast changes in the field of modern management and management sciences. Organizational processes form the base for the knowledge-based decision-making. Developing and utilizing smart solutions -like the utilization of Big Data -emphasize the importance of open system thinking. Digitalized services can for instance create new interfaces between service providers and users. Service users create social value while they are participating in co-producing activities. Hence, the IoT and Big Data undoubtedly strengthen the role of participation in service production, service economy, innovativeness in-between organizations (as a joint processes) and leadership models incorporated in service-dominant -logic. Moreover, IoT, Big Data, and especially digitalization bring about the renaissance of knowledge in decision-making.At organizational level, smart organizations do no rely on knowledge production, but focus on knowledge integration instead. Knowledge integration becomes a key part of management systems. This also means that seminal theories with regard to decision-making and knowledge management do not suffice anymore. At organizational level there is a growing need to develop abilities to act in changing, not easy to forecasted and non-linear situations due to the complexity related to utilization and developing digitalization. Authentic and clinical leadership involves components such as awareness, unbiased processing, action, and relations. IoT and Big Data certainly effect organizations. The connection between IoT, Big Data, management systems as well as

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