We investigate how four internet of things (IoT) companies perceive the large quantity of community-generated content as a significant source of innovation. We study the extent to which these companies are willing to align their internal organisation to cope with the external community dynamics and define beneficial modes of collaboration for all involved stakeholders. Four IoT companies adopting open-source hardware principles were selected as case studies. The data collection was based on 18 interviews highlighting both the perspectives of the companies and their corresponding communities and the opinions of key experts in the domain. In our findings, we illustrate the different manifestations of open business models and the companies’ concrete approaches to working with external stakeholders. It is shown that companies with a business history more clearly claim sovereignty over their strategic decisions in a community-infused model, while, on the other hand, the community-based companies pursue a community-led strategy.
