For biotechnology firms need leaders that can lead scientists beyond the science and turn new discoveries into commercially viable products. Bioentrepreneurial leaders are continuous learners; they are adaptable to change and flexible, they are not afraid to take risks, and they challenge existing assumptions with the objective of generating greater value through novel bioinnovative discoveries. Without bioentrepreneurial leadership, many discoveries will not make it to the marketplace. Biotechnology scientists, by nature, tend to work for the greater good and hope that their discoveries will benefit mankind. Yet it is often the hyper focus on addressing the scientific and technical aspects of a problem that leads to difficulties. Scientists do not generally have the necessary skills or mindsets required to meet commercial or monetary milestones to successfully commercialize products. Therefore, bioentrepreneurial leaders must themselves be willing to continuously learn and adapt to a dynamic industry and at the same time they must inspire and motivate employees at all levels of biotechnology firm to also learn and adapt. Creativity and innovative thinking are required at all stages, and across all disciplines in the organization. Only when this happen will the firm succeed with new innovations through product development and commercialization.
Hisrich, R.D. and Kearney, C. (2013). "Managing Innovation and Entrepreneurship: A Global Perspective." (Thousand Oaks, CA: SAGE Publications Inc. © 2014).
Unless specified by prior arrangement, the author agrees to the following terms and assurances:
- For myself and on behalf of the other authors listed on this work, I assign to thinkBiotech LLC the copyright* in the contribution for the full term throughout the world.
- I/we further give to the following assurances
- I am the sole author of the contribution, or, if not, I have the written authority of the other authors to transfer the copyright* to thinkBiotech LLC and give these warranties;
- I and (where appropriate) the other authors are entitled to transfer the copyright to thinkBiotech LLC and no one else would be entitled to prevent us from publishing the contribution;
- To the best of my/our knowledge, all the facts in the contribution are true and accurate;
- The content of the contribution is entirely original to me (and where appropriate to the other authors) or, if not, the written permission of the owner of the copyright in any material copied from elsewhere has been obtained for all media (all such permissions to be attached to the contribution as supplementary files);
- Nothing in the contribution is obscene or libellous;
- Nothing in the contribution infringes any duty of confidentiality which I/or the other authors may owe to anyone else.
- I and/or the other authors have obtained the appropriate clearances from my/our employer(s) or other concerned institution(s).