Mechanisms of Value Creation in Biotechnology Enterprises within Innovation Ecosystems
Bing Cao
School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
Yongsheng Jin
School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
Zhaohui Li
School of Economics and Management, Dezhou University, Dezhou 253023, China
Qingjuan Bu
School of Economics and Management, Dezhou University, Dezhou 253023, China
DOI:https://doi.org/10.5912/jcb2183
Abstract:
With societal demands for sustainable development and healthy living escalating, the biotechnology sector has expanded rapidly on a global scale, emerging as a pivotal force in driving innovation across medical, agricultural, and environmental fields. Within this context, the innovation ecosystems surrounding biotechnology enterprises play a significant role in shaping their capacity for value creation. Traditional perspectives and methodologies, however, have shown limitations in elucidating how biotechnology enterprises achieve value creation within dynamic and diverse innovation ecosystems. This study aims to explore the value creation mechanisms of biotechnology enterprises from the perspective of innovation ecosystems, with a focus on how competitive relationships and strategic interactions influence the value creation process. Through a systematic analysis of competitive relationships and landscapes, it is revealed how enterprises position themselves and formulate competitive strategies within innovation ecosystems. Further, the investigation delves into the competitive cooperation games among enterprises, examining how enterprises, in pursuit of maximizing value, foster win-win outcomes through collaborative relationships, thereby promoting the healthy development of the entire innovation ecosystem. Through in-depth analysis of these dimensions, a comprehensive analytical framework is established, expanding the theoretical horizon and offering practical guidance for biotechnology enterprises and policymakers.