STANFORD
Today, I got to sit in on a strategic business meeting among 3 companies – a Bay Area based IOT company, a UK based IOT company, and a Japan based public company in the electronic design automation (EDA) software business. The goal of the meeting was to seek ways for the two IOT companies to collaborate on providing new products for the more established Japanese company. IOT (internet of things) is a relatively new concept where machines can talk to each other and make each other do things according to rules, just like people talk to each other and make each other do things. I learned that when companies are trying to establish collaboration, there are lots of important analyses and steps to take before make a decision. Companies need to adapt to each other needs, find out what problems need to be solved, who has the solutions, and how they are going to do so, while taking account of risks of the collaboration not working. Applying concepts to actual business proposals that solve real problems for clients is key.