Since 2014
Uncertainty in innovation in the biotech-pharmaceutical industry
Periodica Polytechnica Social and Management Sciences
View Archive Info| Field | Value | |
| Title |
Uncertainty in innovation in the biotech-pharmaceutical industry
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| Creator |
Domonkos, Dávid
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| Subject |
red biotech; biopharmaceuticals; high uncertainty; biopharma strategies
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| Description |
Biotechnology, just like other dynamically growing branches of industry, has been very rapidly changing. Disruptive innovations arise from time to time. Since this is a very high risk - high benefit industry, and R & D phases often require several hundred millions of dollars, the participants seek to minimize and share risk. In case of biotechnology the assessment of risks (uncertainties) in the technological development is becoming an increasingly difficult task to solve. This is especially true in a rapidly changing turbulent environment, where environment and its knowledge changes from day to day, where in addition to small ones, radical innovations are typical as well. Understanding the necessary parameters is becoming more and more uncertain, thus also becoming limited. There is a huge literature on technological uncertainty just as there is on risks of financial issues. My main problem with this is that there is a strong inclination to believe that uncertainty can always be successfully modelled by quantitative risk assessment (qRA). In contrast to this, a wide range of environmental studies puts emphasis on the non-predictable risk. (Think of the the management consequence of non-predictability, the needed precaution.) A small biotech company has two alternatives for survival: finding a protected market, where, drawing on resources from outside, it can become influential, or by concentrating on cooperation, solving a partial task, working as part of a cluster, becoming an importer of knowledge. |
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| Publisher |
Budapest University of Technology and Economics
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| Date |
2010-01-01
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| Type |
info:eu-repo/semantics/article
Peer-reviewed Article info:eu-repo/semantics/publishedVersion |
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| Format |
application/pdf
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| Identifier |
http://www.periodicapolytechnica.org/so/article/view/1589
10.3311/pp.so.2010-1.03 |
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| Source |
Periodica Polytechnica Social and Management Sciences; Vol. 18, No. 1 (2010); 21-30
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| Language |
eng
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| Relation |
http://www.periodicapolytechnica.org/so/article/view/1589/907
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| Rights |
Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access). As soon as the paper is accepted, finally submitted and edited, the npaper will appear in the "OnlineFirst" page of the journal, thus from this point no other internet-based publication is necessary
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