Technological convergence throughout the eras: Part 3 - Biotechnology

Purpose - It is widely acknowledged that the pace of change due to complexity in the competitive environment coupled with advances in technology and innovation is forcing management to rethink strategy formulation and implementation. The purpose of this paper is to discuss convergence in the context...

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Bibliographic Details
Published in:Business strategy series 2009-01, Vol.10 (1), p.19-27
Main Authors: Bernabo, Maria, Garcia-Bassets, Ivan, Gaines, Laura, Knauer, Christian, Lewis, Alfred, Nguyen, Liem, Zolfaghari, Leila
Format: Article
Language:English
Subjects:
Alliances
Biology
Biosensors
Biotechnology
Convergence
Drug delivery systems
Genomics
Information technology
Innovation
Interdisciplinary aspects
Management strategy
Medical equipment
Nanotechnology
Pharmaceuticals
Pharmaceuticals industry
Proteomics
Strategic management
Studies
Technological change
Technology
Tissue engineering
Trends
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Summary:Purpose - It is widely acknowledged that the pace of change due to complexity in the competitive environment coupled with advances in technology and innovation is forcing management to rethink strategy formulation and implementation. The purpose of this paper is to discuss convergence in the context of discontinuous competitive environment and possible management responses to changes.Design methodology approach - The findings of this paper are based on the analysis of developments in the biotechnology environment. The disruption to pharmaceutical industry is examined from the context of need served.Findings - The rate of change in innovation is leading to the creation of new industries and the disintegration of the industry classifications due to convergence of multiple needs previously served by different industry groupings. As such, firms have to upgrade their environmental scanning systems to detect competitive forces beyond the traditional industrial competitive boundaries.Practical implications - The paper provides a comprehensive review of convergence and disruptive technologiesOriginality value - The paper highlights the breakdown of barriers in terms of industry classification. Customer's needs could be served by firms in hitherto distinct industry groupings.
ISSN:1751-5637
1751-5645
DOI:10.1108/17515630910937760