Paola Olimpia Achard – Department of Industrial and Information Engineering and Economics, University of LβAquila, Giuseppe Mezzanotte St., 67100, LβAquila, Italy
Chiara Bellini – Department of Industrial and Information Engineering and Economics, University of LβAquila, Giuseppe Mezzanotte St., 67100, LβAquila, Italy
Keywords:Β Β Β Β Β Β Β Β Β Β Biotech industry;
Collaboration strategies;
International business;
Knowledge;
Development;
Sustainable competitive
advantage
Abstract: Global-scale competition is based on the ability to generate innoΒvation, particularly in knowledge-intensive sectors such as healthcare, bioΒtech, and pharmaceuticals. The purpose of this paper is to analyze the collabΒorative strategies pursued by European biotech firms, as preferential ways to promote the innovation processes necessary for value creation. The methodΒology followed consists of the strategic analysis of European biotech firms to highlight value creation pathways. The main result of the study is the obserΒvation that the pursuit of a position of sustainable competitive advantage deΒrives from the ability of European biotech firms to establish different and arΒticulated strategic relationships of a collaborative nature.
9th International Scientific ERAZ Conference β ERAZ 2023 β Selected Papers: KNOWLEDGE BASED SUSTAINABLE DEVELOPMENT, hybrid β online, virtually and in person, Prague, Czech Republic, June 1, 2023
ERAZ Selected Papers published by: Association of Economists and Managers of the Balkans – Belgrade, Serbia
ERAZ conference partners: Faculty of Logistics, University of Maribor, Maribor (Slovenia); University of National and World Economy β UNWE, Sofia (Bulgaria); Center for Political Research and Documentation (KEPET), Research Laboratory of the Department of Political Science of University of Crete (Greece); Institute of Public Finance β Zagreb (Croatia); Faculty of Tourism and Hospitality Ohrid, University of St. Kliment Ohridski from Bitola (North Macedonia)
ERAZ Conference 2023 Selected Papers: ISBN 978-86-80194-73-8, ISSN 2683-5568, DOI: https://doi.org/10.31410/ERAZ.S.P.2023
Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission.Β
Suggested citation
Achard, P. A., & Bellini, C. (2023). Value Creation Processes in the European Biotech Industry: The Role of Collaboration Strategies. In V. Bevanda (Ed.), ERAZ Conference – Knowlegde Based Sustainable Development: Vol 9. Selected Papers (pp. 63-72). Association of Economists and Managers of the Balkans. https://doi.org/10.31410/ERAZ.S.P.2023.63
References
Arsawan, I. W. E., Koval, V., Rajiani, I., Rustiarini, N. W., Supartha, W. G., & Suryantini, N. P. S. (2022). Leveraging knowledge sharing and innovation culture into SMEs sustainable competΒitive advantage. International journal of productivity and performance management, 71(2), 405-428. https://doi.org/10.1108/IJPPM-04-2020-0192
Berends, H., & Sydow, J. (2019). Introduction: Process Views on Inter-organizational CollaboΒrations. Managing Inter-organizational Collaborations: Process Views, 1-10. https://doi.org/10.1108/s0733-558×20190000064001
Bloem, V., & Salimi, N. (2023). Role of knowledge management processes within different stages of technological innovation: evidence from biotechnology SMEs. Knowledge Management Research & Practice, 21(4), 822-836. https://doi.org/10.1080/14778238.2022.2064352
Brandenburger, A. M., & Nalebuff, B. J. (2011). Co-opetition. Currency.
Caroli, M. (2021). Economics and Sustainable Business Management, Milano: McGraw Hill Education.
Cassiman, B. (2018). Research Joint Ventures. The New Palgrave Dictionary of Economics, 11581- 11585. https://doi.org/10.1057/978-1-349-95189-5_2505
Castaneda, D. I., & Cuellar, S. (2020). Knowledge sharing and innovation: A systematic review. Knowledge and Process Management, 27(3), 159-173. https://doi.org/10.1002/kpm.1637
CastaΓ±er, X., & Oliveira, N. (2020). Collaboration, coordination, and cooperation among organiΒzations: Establishing the distinctive meanings of these terms through a systematic literature review. Journal of Management, 46(6), 965-1001. https://doi.org/10.1177/0149206320901565
Corbo, L., Kraus, S., VlaΔiΔ, B., DabiΔ, M., Caputo, A., & Pellegrini, M. M. (2022). CoopetiΒtion and innovation: A review and research agenda. Technovation, 122 (102624). https://doi.org/10.1016/j.technovation.2022.102624
DaSilva, E. (2004). The Colours of Biotechnology: Science, Development and Humankind. ElecΒtronic Journal of Biotechnology, 7(3), 1-4.
Delgado, M., Porter, M. E., & Stern, S. (2014). Clusters, convergence, and economic performance. Research Policy, 43(10), 1785-1799. https://doi.org/10.1016/j.respol.2014.05.007
de Wit-de Vries, E., Dolfsma, W. A., van der Windt, H. J., & Gerkema, M. P. (2019). Knowledge transfer in university-industry research partnerships: a review. The Journal of Technology Transfer, 44(4), 1236-1255. https://doi.org/10.1007/s10961-018-9660-x
Di Maggio, P. J. (1988). Interest and agency in institutional theory. Institutional Patterns and OrΒganizations, 3-21.
ENEA. (2023, June). BioInItaly Report 2023. https://industria.enea.it/osservatorio/documenti/economic-update-2023-biotech/view
Ernest & Young. (2023). Beyond Borders: EY Biotechnology Report 2023. EY. https://www.ey.com/en_us/life-sciences/beyond-borders
European Commission. (2002, January 23). Life sciences and biotechnology β A StrateΒgy for Europe. https://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2002/0027/COM_COM(2002)0027_EN.pdf
European Union. (2023). Facts and figures on the European Union economy. https://european-uΒnion.europa.eu/principles-countries-history/key-facts-and-figures/economy_en
Fraterman, S., WuΜbbels, G., & Kniss, A. (2023). The Biotech Opportunity in Europe. BosΒton Consulting Group. https://webassets.bcg.com/1a/64/416b89fa4d63afefd036a6c1a0a1/bcg-the-biotech-opportunity-in-europe-march-2023-1.pdf
Freire, J. A. F., & GonΓ§alves, E. (2022). Cooperation in innovative efforts: A systematic literaΒture review. Journal of the Knowledge Economy, 13(4), 3364-3400. https://doi.org/10.1007/s13132-021-00837-3
Global Market Insight Report. (2021, May). Biotechnology Market – By Application, By Technology & Forecast, 2021-2027. https://www.gminsights.com/industry-analysis/biotechnology-market
Granstrand, O., & Holgersson, M. (2020). Innovation ecosystems: A conceptual review and a new definition. Technovation, 90-91, 102098. https://doi.org/10.1016/j.technovation.2019.102098
Grant, R. M. (1996). Toward a knowledgeβbased theory of the firm. Strategic Management JourΒnal, 17(S2), 109-122. https://doi.org/10.1002/smj.4250171110
Helfat, C. E., Kaul, A., Ketchen, D. J., Jr., Barney, J. B., Chatain, O., & Singh, H. (2023). ReΒnewing the resource-based view: New contexts, new concepts, and new methods. Strategic Management Journal, 44(6), 1357-1390. https://doi.org/10.1002/smj.3500
Ho, J. K. K. (2014). Formulation of a systemic PEST analysis for strategic analysis. European AcΒademic Research, 2(5), 6478-6492.
IBISWorld. (2023, August 25). Global Biotechnology Industry – Market Research Report. https://www.ibisworld.com/global/market-research-reports/global-biotechnology-industry/
Iseppi, L., & Rosa, F. (2022). Economics and business of biotechnology from rDNA to NGS. PaΒdova, Italy: Padova University Press.
Kremer, H., Villamor, I., & Aguinis, H. (2019). Innovation leadership: Best-practice recommenΒdations for promoting employee creativity, voice, and knowledge sharing. Business HoriΒzons, 62(1), 65-74. https://doi.org/10.1016/j.bushor.2018.08.010
Kretschmer, T., & Vanneste, B. S. (2017). Collaboration in strategic alliances: cooperation and coordination. Collaborative Strategy. https://doi.org/10.4337/9781783479580.00015
Labiotech.eu. (2021a). European Biotechnology Industry 2021. https://www.labiotech.eu/report/european-biotech-industry-report-2021/
Labiotech.eu. (2021b). The European Biotech Start Up Ecosystem 2021. https://www.labiotech.eu/report/the-european-biotech-startup-ecosystem/
Le Deu, F., & da Silva, J. S. (2020, March). Biotech in Europe: A strong foundation for growth and innovation. McKinsey & Company. https://www.mckinsey.com/industries/life-sciences/our-insights/biotech-in-europe-a-strong-foundation-for-growth-and-innovationΒ
Le Pennec, M., & Raufflet, E. (2018). Value Creation in Inter-Organizational Collaboration: An Empirical Study. Journal of Business Ethics, 148(4), 817-834. https://doi.org/10.1007/s10551-015-3012-7
Levy, V. (2023). 2023 Global Science Outlook. Deloitte. https://www.deloitte.com/global/en/InΒdustries/life-sciences-health-care/perspectives/global-life-sciences-sector-outlook.ht
Martin, D. K., Vicente, O., Beccari, T., Kellermayer, M., Koller, M., Lal, R., Marks, R. S., MaroΒva, I., Mechler, A., Tapaloaga, D., Ε½nidarΕ‘iΔ-Plazl, P., & Dundar, M. (2021). A brief overview of global biotechnology. Biotechnology & Biotechnological Equipment, 35(sup1), S5-S14. https://doi.org/10.1080/13102818.2021.1878933Β
Mitze, T., & Strotebeck, F. (2019). Determining factors of interregional research collaboration in Germanyβs biotech network: Capacity, proximity, policy? Technovation, 80-81, 40-53. https://doi.org/10.1016/j.technovation.2018.11.001Β
Nippa, M., & Reuer, J. J. (2019). On the future of international joint venture research. Journal of InΒternational Business Studies, 50(4), 555-597. https://doi.org/10.1057/s41267-019-00212-0
OECD. (2005, May). A Framework for Biotechnology Statistics. https://www.oecd.org/sti/emergΒing-tech/aframeworkforbiotechnologystatistics.html
OECD. (2022, December). Health at Glance 2022: Europe State of Health in the EU Cycle. https://www.oecd.org/health/health-at-a-glance-europe/
Olk, P., & West, J. (2020). The relationship of industry structure to open innovation: cooperative value creation in pharmaceutical consortia. R&D Management, 50(1), 116-135. https://doi.org/10.1111/radm.12364
Rindfleisch, A. (2020). Transaction cost theory: past, present and future. AMS Review, 10(1-2), 85- 97. https://doi.org/10.1007/s13162-019-00151-x
Russo, M., & Cesarani, M. (2017). Strategic Alliance Success Factors: A Literature Review on Alliance Lifecycle. International Journal of Business Administration, 8(3), 1. https://doi.org/10.5430/ijba.v8n3p1Β
Rybnicek, R., & KΓΆnigsgruber, R. (2019). What makes industryβuniversity collaboration succeed? A systematic review of the literature. Journal of Business Economics, 89(2), 221-250. https://doi.org/10.1007/s11573-018-0916-6Β Β
Savage, G. T., Bunn, M. D., Gray, B., Xiao, Q., Wang, S., Wilson, E. J., & Williams, E. S. (2010). Stakeholder Collaboration: Implications for Stakeholder Theory and Practice. Journal of Business Ethics, 96(S1), 21-26. https://doi.org/10.1007/s10551-011-0939-1Β
Sharma, A., Pathak, S., Borah, S. B., & Adhikary, A. (2022). Collaboration strategies in buyΒer-supplier relational (BSR) networks and sustainable firm performance: A trade-off stoΒry. International Journal of Production Economics, 253, 108558. https://doi.org/10.1016/j.ijpe.2022.108558Β
Shipilov, A., & Gawer, A. (2020). Integrating research on interorganizational networks and ecosysΒtems. Academy of Management Annals, 14(1), 92-121. https://doi.org/10.5465/annals.2018.0121Β
Statista. (2023, June 28). Share of GDP expenditure on research and development in the EU- 27 countries from 2000 to 2021. Statista. https://www.statista.com/statistics/461748/share-of-gdp-expenditure-on-research-and-development-european-union-eu/Β
Tabish, S. A. (2020). COVID-19 pandemic: Emerging perspectives and future trends. Journal of Public Health Research, 9(1), 19-27. https://doi.org/10.4081/jphr.2020.1786Β
Yang, X. (2022). Coopetition for innovation in R&D consortia: Moderating roles of size disparΒity and formal interaction. Asia Pacific Journal of Management, 39(1), 79-102. https://doi.org/10.1007/s10490-020-09733-xΒ