Transformation of Value in Innovative Business Models: The Case of Pharmaceutical Market

Denis Klimanov (), Olga Tretyak (), Uri Goren () and Timothy White ()
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Denis Klimanov: National Research University Higher School of Economics
Olga Tretyak: National Research University Higher School of Economics
Uri Goren: Teva Pharmaceuticals
Timothy White: Teva Pharmaceuticals

Foresight and STI Governance (Foresight-Russia till No. 3/2015), 2021, vol. 15, issue 3, 52-65

Abstract: Creating and developing innovative business models (BM) is currently one of the key success factors for contemporary business. Rapid complex changes in the world reemphasize the need to better understand how BM can be successfully innovated in different markets. The digital component of BM innovation comes under a special spotlight, using the example of a company within the pharmaceutical industry. In particular, this study demonstrates how BM innovation can be developed and implemented in practice within the pharmaceutical market, which accelerates its digital transformation to increase the value it brings to the healthcare systems around the world while sustaining the ongoing crisis. In order to do that, the current paper offers a framework for BM innovation that defines BM elements, BM innovation aspects, and BM innovation logic. The study covers six markets that represent different value creation systems and mechanisms. This paper demonstrates how technological innovations can be activated using managerial tools and insights and also how they can be combined into the holistic system based on the needs of the key value chain actors.

Keywords: business model; innovation; transformation of value; corporate strategies; pharmaceutical market; case studies (search for similar items in EconPapers)
JEL-codes: I15 L14 M31 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (3)

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