The forthcoming 5G and IoT large-scale implementation reveals new business opportunities in completely new sectors that mobile network operators should seize. This survey paper wants to identify the necessary transformations such operators must undergo to build a sustainable competitive advantage in the future industry. A qualitative research composed of semi-structured interviews incumbents’stronger intent of diversification and creates the base for strategic recommendations.A sample of recent actions carried out by mobile network operators to improve their position in the 5G and IoT environments is shown at the end of the work
