Overcoming Inferior External Environments in the Pharmaceuticals and Biotechnology Industries via R&D Management

Author Name NAKAMURA Hiroshi  (Professor, Graduate School of Business Administration, Keio University) /ASAKAWA Kazuhiro  (Faculty Fellow, RIETI / Professor, Graduate School of Business Administration, Keio University)
Creation Date/NO. March 2006 06-J-019
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For firms to build up competitive advantage in business, the prevailing belief generally holds that in addition to positioning themselves in attractive industries expected to generate high profits, it is also important that they locate their bases in nations and regions which provide favorable external environments. Nevertheless, in reality there are many firms where these conditions are not met. This paper focuses on such companies, and considers ways to build up competitive advantage. In particular, this study suggests that it is important to establish an effective management in order to acquire and utilize management resources.