The proliferation and stitching together of these intelligent machines, sensors, tools and controls into vast, interconnected webs has given rise to the buzz phrase, “Internet of Things” (IoT)—and to the sense that this new world affords great opportunities, if only we can grasp how, exactly, to seize them.
“We can connect factories to the Internet and [use those connections] to monitor, control, optimize and automate them and so forth,” James (Jim) Heppelmann, president and CEO of PTC, told CEO participants in a roundtable discussion cosponsored by Chief Executive and PTC. “But just because you can do something doesn’t mean you should. That is, it doesn’t mean there’s a real economic value associated with doing [these things].”
“Just because you can do something doesn’t mean you should. That is, it doesn’t mean there’s a real economic value associated with doing [these things].”
Clearly, however, there can be. As with most technological advances, the trick will be to be strategic about how we harness the power of these capabilities. (For details on making the most of IoT opportunities, see sidebar, this page.) Manufacturers, in particular, can benefit greatly from the ability to collect data from products, product systems and other “things” connected to a computing infrastructure to control, service and upgrade the production process, as well as to drive better decision-making and expand innovation.
At John Deere, for example, WorkSight technology connects the company’s equipment to monitoring dashboards that enable managers to see where their vehicles are, evaluate their performance and
diagnose potential issues in real-time so that—in theory—failing parts can be replaced before the machinery even breaks down.
The company has now turned those capabilities into a new business offering called FarmSight, which does the same thing for farmers and more, enabling them to access real-time data from both their equipment and their fields.
Chief Executive Group exists to improve the performance of U.S. CEOs, senior executives and public-company directors, helping you grow your companies, build your communities and strengthen society. Learn more at chiefexecutivegroup.com.
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1:00 - 5:00 pm
Over 70% of Executives Surveyed Agree: Many Strategic Planning Efforts Lack Systematic Approach Tips for Enhancing Your Strategic Planning Process
Executives expressed frustration with their current strategic planning process. Issues include:
Steve Rutan and Denise Harrison have put together an afternoon workshop that will provide the tools you need to address these concerns. They have worked with hundreds of executives to develop a systematic approach that will enable your team to make better decisions during strategic planning. Steve and Denise will walk you through exercises for prioritizing your lists and steps that will reset and reinvigorate your process. This will be a hands-on workshop that will enable you to think about your business as you use the tools that are being presented. If you are ready for a Strategic Planning tune-up, select this workshop in your registration form. The additional fee of $695 will be added to your total.
2:00 - 5:00 pm
Female leaders face the same issues all leaders do, but they often face additional challenges too. In this peer session, we will facilitate a discussion of best practices and how to overcome common barriers to help women leaders be more effective within and outside their organizations.
Limited space available.
10:30 - 5:00 pm
General’s Retreat at Hermitage Golf Course
Sponsored by UBS
General’s Retreat, built in 1986 with architect Gary Roger Baird, has been voted the “Best Golf Course in Nashville” and is a “must play” when visiting the Nashville, Tennessee area. With the beautiful setting along the Cumberland River, golfers of all capabilities will thoroughly enjoy the golf, scenery and hospitality.
The golf outing fee includes transportation to and from the hotel, greens/cart fees, use of practice facilities, and boxed lunch. The bus will leave the hotel at 10:30 am for a noon shotgun start and return to the hotel after the cocktail reception following the completion of the round.
