A Research of Knowledge and Technology Innovation on Business Model Innovation:
From the perspective of Chinese Pharmaceutical R&D Outsourcing Enterprises
In order to improve R & D efficiency and reduce R & D cost, pharmaceutical enterprises are willing to split up multiple stages of new drug R & D, and in the form of signing contracts, outsourcing part of pharmaceutical R & D business is carried out to professional organisations. These organisations undertaking R & D outsourcing services are called Contract Research Organization (CRO). Because of the rapid change of market, diversified demand and increasingly fierce competition, CRO is facing key problems such as enterprise development, service level and talent echelon. By adopting a flexible business model and adapting to the market demand quickly, enterprises can keep core competitiveness and realise sustainable development in the fierce market competition. Given this, this study focuses on the business model innovation of contract research organisation. Through literature, the paper analyses the important factors related to business model innovation and then use the research model of the actual enterprise questionnaire to complete the empirical research. Further reference to domestic and foreign literature, the corresponding questionnaire scale is formulated. After the preliminary verification of the reliability and validity of the pre-survey questionnaire, the legal issue of the questionnaire for empirical analysis. Then, the data of 213 effective questionnaires were collected by SAS software and excel. This study suggests that China’s contract research organisation should attach great importance to the innovation of business model and increase investment in the whole process of knowledge management to increase the internal innovation source power of enterprises. China’s contract research organisation should arrange the technical innovation in the direction of big data artificial intelligence in advance and formulate a complete risk management plan to significantly improve enterprise performance and enhance the core competitiveness of enterprises.
Keywords: Contract research organisation, Business model innovation, Questionnaire survey, Empirical research.
|Title:||A Research of Knowledge and Technology Innovation on Business Model Innovation: From the perspective of Chinese Pharmaceutical R&D Outsourcing Enterprises|
|Journal Name:||International Journal of Science and Business|
|ISSN:||ISSN 2520-4750 (Online), ISSN 2521-3040 (Print)|
|Media:||Online & Print|
|Date of Publication:||09/06/2021|
|Paper Type:||Research paper|
Cite This Article:
Yang Fan (2021). A Research of Knowledge and Technology Innovation on Business Model Innovation: From the perspective of Chinese Pharmaceutical R&D Outsourcing Enterprises. International Journal of Science and Business, 5(8), 107-122. doi: https://doi.org/ 10.5281/zenodo.4917054
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About Author (s)
Yang Fan, Asia Metropolitan University, Malaysia.