Crises, Innovation and the Co-opetition: Entrepreneurial Responses to the Covid-19 Crisis

Abstract

Innovation thrives during crises. Covid-19 gives one such opportunity to the pharmaceutical industry. Product innovation gives an opportunity to beat the pandemic. However, process innovation using the concept of co-opetition can help the pharmaceutical industry create a win–win for the market and the industry. This chapter covers co-opetition strategies that pharmaceutical sector can follow to help the customers and marketers win this game. The chapter looks at various co-operation-based strategies including co-operation by division of markets, co-operation by sharing of distribution, co-operation through patent waivers and co-operation with complementary goods manufacturers. After the co-operation, comes competition. The chapter considers duopoly as a means to help divide the market for all to co-exist.

Citation

Bhasin, S. and Kumar, B. (2022), "Crises, Innovation and the Co-opetition: Entrepreneurial Responses to the Covid-19 Crisis", Ratten, V., Jones, P., Braga, V. and Parra-López, E. (Ed.) Artisan Entrepreneurship, Emerald Publishing Limited, Leeds, pp. 57-71. https://doi.org/10.1108/978-1-80262-077-120221006