What Is the Source of Smart City Value?

2019 ◽  
pp. 56-77
Author(s):  
Leonidas Anthopoulos ◽  
Panos Fitsilis ◽  
Christos Ziozias
Keyword(s):  
Decision Making ◽  
Business Model ◽  
Smart City ◽  
Business Models ◽  
Smart Cities ◽  
Optimal Choice ◽  
Innovation Development ◽  
Decision Making Processes ◽  
Almost All ◽  
Business Sectors

Smart cities have attracted an increasing international scientific and business attention and an enormous niche market is being evolved, which engages almost all the business sectors. Being engaged in the smart city market is not free-of-charge and corresponding investments are extensive, while they usually concern innovation development and always demand careful planning. However, until today it is not clear how the smart city creates value to its stakeholders or simply how profit is being created. To this end, this paper performs an investigation on the smart city business models and utilizes decision making process with the contribution of smart city experts in order to conclude on the most appropriate one. This paper's findings demonstrate that business models that are followed in practice by smart cities are different to the ones suggested in literature. Moreover, the decision making processes that were followed showed that the optimal choice is the ownership business model group and from its contents preferred the Open Business Model (OBM), with the Municipal-Owned-Development (MOD) as an alternative option.

What is the Source of Smart City Value?

2016 ◽  
Vol 12 (2) ◽  
pp. 56-76 ◽  
Author(s):  
Leonidas Anthopoulos ◽  
Panos Fitsilis ◽  
Christos Ziozias
Keyword(s):  
Decision Making ◽  
Business Model ◽  
Smart City ◽  
Business Models ◽  
Smart Cities ◽  
Optimal Choice ◽  
Innovation Development ◽  
Decision Making Processes ◽  
Almost All ◽  
Business Sectors

Smart cities have attracted an increasing international scientific and business attention and an enormous niche market is being evolved, which engages almost all the business sectors. Being engaged in the smart city market is not free-of-charge and corresponding investments are extensive, while they usually concern innovation development and always demand careful planning. However, until today it is not clear how the smart city creates value to its stakeholders or simply how profit is being created. To this end, this paper performs an investigation on the smart city business models and utilizes decision making process with the contribution of smart city experts in order to conclude on the most appropriate one. This paper's findings demonstrate that business models that are followed in practice by smart cities are different to the ones suggested in literature. Moreover, the decision making processes that were followed showed that the optimal choice is the ownership business model group and from its contents preferred the Open Business Model (OBM), with the Municipal-Owned-Development (MOD) as an alternative option.

scholarly journals Sustainable business model for local council’s smart city initiatives: a systematic literature review

F1000Research ◽  
2021 ◽  
Vol 10 ◽  
pp. 1066
Author(s):  
Ezatul Faizura Mustaffa Kamal Effendee ◽  
Magiswary Dorasamy ◽  
Abdul Aziz Bin Ahmad ◽  
Azrin Aris ◽  
Saida Hargeum ◽  
...  
Keyword(s):  
Systematic Review ◽  
Business Model ◽  
Smart City ◽  
Business Models ◽  
Smart Cities ◽  
Success Factor ◽  
Sustainable Business ◽  
Local Authorities ◽  
Frugal Innovation ◽  
Online Databases

Background: Malaysia is embarking on sustainable, resilient, and prosperous living conditions initiatives. Malaysian cities are embracing the smart city aspiration through their respective local authorities. However, they face challenges regarding  funding allocation for smart city implementation. Local authorities primarily operate on a conventional business model. Based on their current business model, they are unlikely to sustain their smart city initiatives. A more financially sustainable business model is required by these local authorities to embark on smart city initiatives. This study presents a systematic review concerning the business models adopted by local authorities to implement smart cities. This paper also explores the applicability of frugal innovation towards developing a smart city business model. Methods: This article undertakes a systematic review based on combination sets of eight main keywords: smart city, business model, frugal innovation, local authorities, performance, inclusivity, technology and success factor. The search strategy includes journal articles and conference proceedings from five major online databases: Emerald, ProQuest, Scopus, IEEE Xplore, ScienceDirect, and Springer Link between 2001-2021. The data is tabulated for clear expression of knowledge gaps. Results: A total of 17 articles from 300 articles on smart city business models matched the search on smart city business models for local authorities . The study revealed that hardly any in-depth research providing the crucial elements for a successful smart city business model for local authorities has been conducted. No research has linked frugal innovation to smart city business models. Conclusions: The study calls upon the research community to explore further, the possible linkage between frugal innovation and smart cities for local authorities.

scholarly journals Innovative Business Models for Smart Cities – A Systematic Research

2019 ◽  
Vol 8 (12S) ◽  
pp. 339-343
Keyword(s):  
Business Model ◽  
Smart City ◽  
Best Practice ◽  
Business Models ◽  
Smart Cities ◽  
Systematic Research ◽  
City Development ◽  
Model Cities ◽  
Smart Technologies

Cities are the engines of growth for a nation. Smart technologies can help address the urban challenges and improve quality of life, economic opportunity, and liveability for citizens. Cities benefit from a transparent overview of best practice solutions to become smarter and from identifying best-suited solution providers. Companies that make cities smarter benefit from becoming more visible to cities around the globe with their newly developed or proven solutions. Innovative business models help accelerate the adoption of smart technologies. Various funding mechanisms have been used by cities to develop smart city projects. However, it has been revealed that the literature does not provide enough thoughts on these concepts. This paper provides an insight to the concept of innovative business models and the adoption of these in smart cities. Further the paper advances the understanding on the evolving business models and city procurement policies that could be used to accelerate smart city development. The paper seeks to address the question: What are the challenges faced by organisations and smart cities to develop a successful innovative business model? Cities have designed well defined strategies and are in the process of developing strategies for smart city. The paper address the challenges and functions of an innovative business model for development of smart cities.

scholarly journals Smart City Decision Making System Based on Event-driven Platform

2021 ◽  
Vol 12 (1) ◽  
pp. 99-110
Author(s):  
Andrej Saric ◽  
Ivona Zakarija ◽  
Vedran Batos ◽  
Srecko Krile
Keyword(s):  
Decision Making ◽  
Smart City ◽  
Energy Demand ◽  
Smart Cities ◽  
Future Research ◽  
Rapid Urbanization ◽  
Reliability Factor ◽  
Event Driven ◽  
Decision Making System ◽  
Decision Making Processes

Abstract With the occurrence of rapid urbanization and intensive growth of different modes of transport, we face issues such as resource management, energy demand and lack of capacity due to overcrowding. To help with these issues we leverage technology and the Internet of Things (IoT) to develop smart cities. In this paper, we propose an innovative approach to development of new smart city event-driven platform with which we want to simplify data input, data transformation, and decision making processes. The platform uses events, labels and reliability factor to make decisions and trigger actions. This paper begins with an overview of the smart city framework and we review the characteristics of event-driven models. The event-driven platform is presented and discussed. The paper closes with our findings, suggestions, open issues, and future research possibilities.

An Innovative Company in a Smart City

2018 ◽  
pp. 131-151
Author(s):  
Francesca Culasso ◽  
Sara Giovanna Mauro
Keyword(s):  
Empirical Evidence ◽  
Business Model ◽  
Smart City ◽  
Systems Approach ◽  
Smart Cities ◽  
Organizational Level ◽  
Sustainable Business ◽  
Face To Face ◽  
Innovative Company ◽  
Lively Debate

The aim of this chapter is to analyze the business model of an innovative company in the context of a smart city. Specifically, this research investigates key components and challenges concerning the operationalization of a business model originally conceived to be sustainable. This chapter relies on the analysis of the empirical evidence collected at the organizational level by combining different data sources, including official and internal documents, face-to-face interviews, and questionnaires. It is thus designed to contribute to the lively debate on sustainability by providing empirical evidence and shedding light on the operationalization of the concept of sustainable business model. Further, in light of the smart context where the company operates, this research paves the way for further investigation into the potential win-win collaboration between innovative companies and smart cities to foster sustainability consistent with a systems approach to the topic.

scholarly journals A Study of the Interaction of Human Smart Characteristics with Demographic Dynamics and Built Environment: The Case of Limassol, Cyprus

Smart Cities ◽  
2020 ◽  
Vol 3 (1) ◽  
pp. 48-73
Author(s):  
Maroula N. Alverti ◽  
Kyriakos Themistocleous ◽  
Phaedon C. Kyriakidis ◽  
Diofantos G. Hadjimitsis
Keyword(s):  
Decision Making ◽  
Smart City ◽  
Smart Cities ◽  
Policy Decision ◽  
Population Census ◽  
Data Set ◽  
Demographic Dynamics ◽  
Main Challenge ◽  
Policy Decision Making ◽  
City Policy

The smart city notion provides an integrated and systematic answer to challenges facing cities today. Smart city policy makers and technology vendors are increasingly stating their interest in human-centered smart cities. On the other hand, in many studies smart city policies bring forward a one-size-fits-all type of recommendation for all areas in question instead of location-specific ones. Based on the above considerations, this paper illustrates that smart citizen characteristics, alongside local urban challenges, are paving the way towards more effective efforts in smart city policy decision making. Our main presumption is that the development level of human-centered indicators of smart cities varies locally. The scientific objective of this paper is to find a simple, understandable link between human smart characteristics and local determinants in Limassol city, Cyprus. The data set consists of seven indicators defined as human smart characteristics and seven which determine local urban challenges consisting of demographic dynamics and built infrastructure attributes based on housing. Correlations of the 14 above indicators are examined in entirety and separately, as the study area was divided into three spatial sub-groups (high, moderate, and low coverage areas) depending on dispersed urbanization, as the main challenge of the study area. The data were obtained mainly from the most recent population census in 2011 and categorized in sub-groups by triggering CLC 2012. Analyzing the statistics using principal component analysis (PCA), we identify significant relationships between human smart city characteristics, demographic dynamics and built infrastructure attributes which can be used in local policy decision making. Spatial variations based on the dispersed urbanization are also observed regarding the above-mentioned relationships.

scholarly journals Access to ICT in Poland and the Co-Creation of Urban Space in the Process of Modern Social Participation in a Smart City—A Case Study

2020 ◽  
Vol 12 (5) ◽  
pp. 2136 ◽  
Author(s):  
Patrycja Szarek-Iwaniuk ◽  
Adam Senetra
Keyword(s):  
Decision Making ◽  
Information And Communication Technologies ◽  
Urban Space ◽  
Social Participation ◽  
Smart City ◽  
Local Community ◽  
Smart Cities ◽  
Communication Technologies ◽  
Social Awareness ◽  
Information And Communication

A smart city is one of the latest concepts in the development of modern cities. It has evolved from the foregoing smart cities 1.0 and 2.0 to the smart city 3.0, where members of the local community play the main role as not only the recipients of the introduced changes and modern technology, but also as the creators of urban space. One of the goals of a smart city 3.0 is to promote sustainable urban development by improving the quality of life, enhancing social participation, and involving local community members in planning and decision-making processes. This study set out to determine the role and significance of e-participation methods in the smart city concept. The results of questionnaires exploring the importance of e-participation in urban development are presented. The paper also discusses changes in the availability of information and communication technologies (ICT) in Poland. The secondary goal was to present the geo-questionnaire and Public Participation GIS (PPGIS) as modern research tools. Internet tools based on geoinformation systems have considerable potential for mobilizing social participation in spatial planning (Public Participation GIS). The present study postulates the need for modern social participation methods in shaping urban space and promoting the sustainable development of cities. The study highlights the main challenges in the research process. The cooperation between the authorities and the citizens contributes to the development of a civil society, informed decision-making, social involvement in public life, and more effective governance at the local, regional, and national level. Measures that foster cooperation between the authorities and local communities, the use of information and communication technologies (ICT), and growing social awareness and social participation in managing development are the components of a modern smart city and the building blocks of an e-society. The study also revealed positive changes in access to ICT and their contribution to bridging the digital divide in Poland. Higher levels of social awareness regarding participation and e-participation promote the growth of smart cities.

scholarly journals Artificial Intelligence Applications to Smart City and Smart Enterprise

2020 ◽  
Vol 10 (8) ◽  
pp. 2944 ◽  
Author(s):  
Donato Impedovo ◽  
Giuseppe Pirlo
Keyword(s):  
Artificial Intelligence ◽  
Smart City ◽  
Business Models ◽  
Smart Cities ◽  
Wide Spectrum ◽  
Life Quality ◽  
City Management ◽  
Efficient Management ◽  
Social Big Data ◽  
Areas Of Interest

Smart cities work under a more resource-efficient management and economy than ordinary cities. As such, advanced business models have emerged around smart cities, which have led to the creation of smart enterprises and organizations that depend on advanced technologies. In this Special Issue, 21 selected and peer-reviewed articles contributed in the wide spectrum of artificial intelligence applications to smart cities. Published works refer to the following areas of interest: vehicular traffic prediction; social big data analysis; smart city management; driving and routing; localization; and safety, health, and life quality.

scholarly journals The Novel Paradigm of Economics Driven for Local Smart Sustain Cities Modeling Using Exploratory Factor Analysis and Planning Technique Using Fuzzy Evaluation Decision Making

2020 ◽  
Vol 12 (3) ◽  
pp. 793
Author(s):  
Mode Vasuaninchita ◽  
Varin Vongmanee ◽  
Wanchai Rattanawong
Keyword(s):  
Decision Making ◽  
Factor Analysis ◽  
Exploratory Factor Analysis ◽  
Smart City ◽  
Smart Cities ◽  
Local Context ◽  
Fuzzy Evaluation ◽  
Analysis Technique ◽  
Planning Technique ◽  
Evaluation Decision

The Smart Cities (SCs) models currently widely employed are identical and inconsiderate of Economics Driven (ED), Local Context (LC), and Sustainability (St) factors. These are key factors to driving, constructing, and developing smart cities. This paper presents a process wherein “the Local Smart Sustain Cities Model (LSSCsM)” is combined and modeled with Exploratory Factor Analysis technique (EFA) to design a smart city that fits the local features of a given area. This particular process creates a Smart Cities Model (SCsM) that has unique sustainability and local context factors. This paper also presents the smart cities Priority Action Ranking (PAR) process using Fuzzy Logic Decision Making (FLDM) to evaluate the strengths and weaknesses of each smart city economics driver and characteristic and prioritize the direction planning of each factor and characteristic. The resulting smart cities model can then be used as the foundation of sustainable smart cities that avoid the pitfall of using incompatible smart cities models as the base and consequently failing, thus avoiding the extravagant costs associated with an unsuccessful project of such scale.

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