Business model design for biotechnology firms Online publication date: Sat, 28-Mar-2009
by Lawrence C. Rhyne
International Journal of Business Innovation and Research (IJBIR), Vol. 3, No. 3, 2009
Abstract: The objective of this study was to develop recommendations for business model design, similar to those developed by Amit, R. and Zott, C. (2001) 'Value creation in e-business', Strategic Management Journal, Vol. 22, No. 6, pp.493-520 for electronic commerce companies, for biotechnology companies. The scientific arena of biotechnology holds great promise for solving many of mankind's greatest challenges. Many of the forms conducting this type of research are young and small allowing for great flexibility in their design. This article reviews the literature on business model design and applies those lessons to biotechnology firms. The results of the analysis of 29 questionnaires are reported. Strong management skills and fund raising skills are important at all stages of the product life cycle. Scientific skills and laboratory technician skills declined in importance over the product life cycle; while marketing skills, manufacturing skills and public relations skills increased in importance over the product life cycle.
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