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Article

Francois Pilon and Elias Hadjielias

This study aims to explore the dynamics enabling strategic account management (SAM) to function as a value co-creation selling model in the pharmaceutical industry.

Abstract

Purpose

This study aims to explore the dynamics enabling strategic account management (SAM) to function as a value co-creation selling model in the pharmaceutical industry.

Design/methodology/approach

Using an inductive qualitative research design, data are collected within 11 industry customers in Canada. This work focuses on hospitals as strategic accounts of pharmaceutical companies, exploring SAM value co-creation in the “hospital-pharmaceutical company” relationship.

Findings

The findings suggest the presence of two key dimensions that can enable a value co-creation SAM model in the hospital-pharmaceutical relationship: “customer-tailored value-added initiatives” and “relationship enhancers”. Customer-tailored value-added initiatives explain the activities that are central to the hospital-pharmaceutical company relationship and can lead to the provision of value added that is unique to the hospital. Relationship enhancers explain the activities that can help strengthen hospital-pharmaceutical company relations in the pursuit of enhanced value-added interactions between the two parties. The research demonstrates a cyclical relationship between “customer-tailored value-added initiatives” and “relationship enhancers”, leading to value co-creation through a SAM model.

Practical implications

The study informs pharmaceutical industry practitioners on how to improve their value proposition through new, more sustainable selling practices. It offers information on implementing a value co-creation SAM model, which can enable pharmaceutical companies to sustain long-lasting value-added relationships with key accounts such as hospitals.

Originality/value

The study contributes to the field of SAM by conceptualizing SAM as a value co-creation system. It introduces new knowledge in pharmaceutical marketing by offering empirical insight on the applicability and use of SAM in the hospital-pharmaceutical company dyad.

Details

Journal of Business & Industrial Marketing, vol. 32 no. 2
Type: Research Article
ISSN: 0885-8624

Keywords

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Article

Chen-Chu Matilda Chen, Bang Nguyen and T.C. Melewar

The purpose of this paper is to develop a conceptual model that examines the underlying mechanisms of the link between the uses of corporate reputation and brand image…

Abstract

Purpose

The purpose of this paper is to develop a conceptual model that examines the underlying mechanisms of the link between the uses of corporate reputation and brand image strategy, from the corporate communication perspective. The paper incorporates three kinds of uses of corporate reputation: value creation, strategic resources and corporate communication.

Design/methodology/approach

Using a qualitative approach, in-depth interviews were conducted with top executives in the pharmaceutical industry in Taiwan to investigate the effects of the uses of corporate reputation on brand image strategy from the managerial perspective.

Findings

Findings provide richness into forming the basis for developing a framework of the uses of reputation, with implications for managers and academics alike. The qualitative findings generally showed that three dimensions of the uses of corporate reputation (i.e. value creation, strategic resources and corporate communication) are applicable to managers’ brand image strategy implementation. For the Taiwanese pharmaceutical industry, the research highlights that value creation herein pertains to the value created for the firm, as cost/sacrifice value, symbolic/expressive value and experience/hedonic value.

Originality/value

Reputation is one of the most important concerns for pharmaceutical firms, as it develops and builds trust with key stakeholders. However, in the pharmaceutical industry context, the application and uses of corporate reputation is little researched. A need exists for research that examines the effects of the uses of corporate reputation at the firm level. This paper fills this important gap in developing a conceptual framework for the uses of corporate reputation in the pharmaceutical industry. In addition, most studies on the uses of corporate reputation in pharmaceuticals are in the contexts of Western countries, thus limiting the generalisablility. Taiwan is the context for the present study.

Details

Qualitative Market Research: An International Journal, vol. 19 no. 3
Type: Research Article
ISSN: 1352-2752

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Article

Stefanie Bröring and L. Martin Cloutier

This paper seeks to shed some light on valuecreation in new product development (NPD) projects within the context of industry convergence and to explore alternative types…

Abstract

Purpose

This paper seeks to shed some light on valuecreation in new product development (NPD) projects within the context of industry convergence and to explore alternative types of projects characterised by different buyer‐seller relationships.

Design/methodology/approach

There has been much research on valuecreation in general, but limited emphasis on valuecreation in NPD projects addressing new industry segments emerging from industry convergence (for example, the segment of nuctraceuticals and functional foods (NFF) products that is positioned between the food and the pharmaceutical industries). Based on a multi‐case study approach, this paper pursues an exploratory research strategy and investigates 54 NPD projects drawn from a Quebec (Canada) NFF foods cluster.

Findings

In the context of convergence a new value chain is emerging between two formerly separated sectors. Valuecreation networks spread across industries and reinforce trends of convergence. Firms face competence gaps in NPD and seek to close these by choosing alternative forms of collaboration. Different types of NPD projects involve alternative forms of buyer‐seller relationships and their approach of valuecreation is analysed.

Research limitations/implications

A typology of different approaches to NPD in converging value chains is presented along with type‐specific implications for valuecreation for the required buyer‐seller relationship.

Originality/value

This paper provides a unique insight into valuecreation in NPD in the emerging NFF sector, in particular, and for converging industries, in general.

Details

British Food Journal, vol. 110 no. 1
Type: Research Article
ISSN: 0007-070X

Keywords

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Article

Mehmet Demirbag, Chang‐Keong Ng and Ekrem Tatoglu

This study provides new evidence on the nature of value creation in M&A activity based on a sample of giant pharmaceutical M&As and independent non‐M&A rival firms…

Abstract

This study provides new evidence on the nature of value creation in M&A activity based on a sample of giant pharmaceutical M&As and independent non‐M&A rival firms. Relying on multiple indicators of performance, their post‐M&A performance was compared with their pre‐M&A performance as well as with the performance of other major pharmaceutical firms that have not been involved in M&A activity. Based on three measures of operating M&A performance, it has been noted in general that no value creation was realized in the sample M&As in terms of research productivity, return on investment, and profit margin. The sample M&As had lower research productivity than that of both pre‐M&A and independent non‐M&Arival firms. In a similar vein, with regard to return on investment, M&As were not better than their pre‐M&A firms, but performed relatively better than their non‐M&A rivals. As far as the profit margin is concerned, the sample M&As, however, appeared to have better performance than pre‐M&Afirms and almost on par with the non‐M&A rivals.

Details

Multinational Business Review, vol. 15 no. 2
Type: Research Article
ISSN: 1525-383X

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Article

Abdallah Khalaf Alsaad, Kawther Jameel Yousif and Mohamad Noor AlJedaiah

The purpose of this paper is to investigate the role of electronic collaboration (e-collaboration) including information sharing, resource sharing and joint knowledge…

Abstract

Purpose

The purpose of this paper is to investigate the role of electronic collaboration (e-collaboration) including information sharing, resource sharing and joint knowledge creation in value creation within pharmaceutical supply chain (SC) and achieving competitive priorities for pharmaceutical companies in Jordan.

Design/methodology/approach

A descriptive analytical methodology was used through a comprehensive review of published and unpublished work from secondary sources of information in the areas of specific interest: e-collaboration and competitive priorities. The study was conducted at Jordan Food and Drug Administration (JFDA) (of which many pharmaceutical companies are linked electronically through JFDA workflow system). Data were collected (using paper questionnaire) from 90 electronically collaborating pharmaceutical companies and 81 complete responses were received, forming a 90 percent response rate. The analysis of collected data was performed using partial least square structure equation modeling.

Findings

The results of the analysis indicated that e-collaboration dimensions, information sharing and resource sharing, have a positive impact on competitive priorities, while joint knowledge creation was not significantly related to them. The results suggest that value creation in SC electronic systems is contingent on mutual resource synergy and joint collaboration among trading partners.

Research limitations/implications

The sample size for this study does not include all pharmaceutical companies in Jordan, as this electronic linkage within the pharmaceutical companies is at its early stage. Moreover, competitive priorities examined in this research are limited to a single industry context.

Practical implications

This study offers a new insight into information technologies (IT)/business values that can be beneficial to IT and SC managers. By proposing the association between e-collaboration activities and competitive priorities, IT and SC managers are provided with a useful tool to link IT with collaborative activities that lead to value creation. To the best of the authors’ knowledge, this research is one of the early studies about e-collaboration in pharmaceutical SC and competitive priorities in Jordan. As such, managers of manufacturing companies can use the outcome of this study to establish more collaborative partnerships within their SCs. This research contributes to encouraging pharmaceutical firms to focus on their export and marketing capabilities regionally and abroad which would establish a globally competitive pharmaceutical technology industry in Jordan.

Social implications

It reveals that the adoption of IT alone to manage SC relationships is not sufficient to generate value. Both information- and resource-sharing activities are the core to do so .The results suggest that value creation in SC electronic systems is contingent on mutual resource synergy and joint collaboration among trading partners. The results of the analysis indicated that the dimension of e-collaboration, joint knowledge creation, was not significantly related to competitive priorities.

Originality/value

This study offers a contextual contribution. To the best of the authors’ knowledge, this research is one of the early studies about e-collaboration in pharmaceutical SC and competitive priorities in Jordan.

Details

EuroMed Journal of Business, vol. 13 no. 2
Type: Research Article
ISSN: 1450-2194

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Article

José L. Ruiz-Alba, Anabela Soares, Miguel A. Rodríguez-Molina and Dolores M. Frías-Jamilena

This paper aims to investigate the moderating role of co-creation in the implementation of servitization strategies in the pharmaceutical industry in a…

Abstract

Purpose

This paper aims to investigate the moderating role of co-creation in the implementation of servitization strategies in the pharmaceutical industry in a business-to-business (B-to-B) context. More specifically, this investigation explores the impact of different levels of services (base, intermediate and advanced) on servitization and on performance by using co-creation as a moderating factor.

Design/methodology/approach

A research framework was developed and empirically tested in the pharmaceutical sector. Data collection was conducted through the online distribution of questionnaires. The final sample included 219 pharmacy stores, and the data were analysed using structural equation modelling.

Findings

Main findings suggest that when the level of co-creation of the design of services is high, there are significant effects of servitization on firm performance. The moderating effect of co-creation is illustrated in regard to intermediate and advanced services, but results referring to the impact of intermediate services on servitization appear non-significant with a low degree of co-creation. No significant effects could be found for the impact of base services on performance and servitization for both high and low degrees of co-creation. Findings show an impact of advanced services on performance through the mediating effect of servitization when the degree of co-creation is high.

Originality/value

Most research concerning servitization has been done from the perspective of manufacturers and service providers. This study adds value to the literature because it was designed from a customer’s perspective. Moreover, it contributes towards the conceptualization of the servitization research strategy and business models in a B2B context. This is accomplished through the investigation of the moderating effect of co-creation on the impact of the different levels of services on servitization and on performance.

Details

Journal of Business & Industrial Marketing, vol. 34 no. 3
Type: Research Article
ISSN: 0885-8624

Keywords

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Article

Leena Afroz Mostofa Chowdhury, Tarek Rana and Mohammad Istiaq Azim

The purpose of this paper is to, the first of its kind, investigate the relationship between the intellectual capital efficiency and organisational performance of the…

Abstract

Purpose

The purpose of this paper is to, the first of its kind, investigate the relationship between the intellectual capital efficiency and organisational performance of the pharmaceutical sector in Bangladesh, an emerging economy that enjoys Trade-Related Aspects of Intellectual Property Rights (TRIPS) relaxation.

Design/methodology/approach

The study used hand-picked data from annual reports for five years. The relationship between efficient use of intellectual capital and corporate performance was examined through the practical use of human capital, structural capital and capital employed. Multiple regressions were used to assess their impact on financial performance – specifically, return on assets, return on equity, asset turnover and market-to-book value.

Findings

Value-added intellectual coefficient components (i.e. human capital, structural capital and capital employed) significantly explained asset turnover and return on assets but failed to predict the return on equity outcome. Additionally, asset turnover was negatively influenced by structural capital and positively influenced by capital employed. The return on assets was mostly affected by variation in human capital. Intellectual capital did not predict market-to-book value or investment decisions.

Practical implications

This paper provides useful resources for evaluating the financial performance and value creation of companies in emerging economies that enjoy TRIPS exemptions; this research could also be extended using cross-industry comparisons. The findings have theoretical and practical implications, particularly for the pharmaceutical industry in emerging economy contexts, and for managers globally.

Originality/value

This study is among only a few that have reported on the relationship between intellectual capital efficiency and value creation in emerging economy contexts.

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Article

G. Bharathi Kamath

The purpose of this paper is to study the relationship, if any, between the intellectual capital (IC) components, namely human, structural, and physical capitals with the…

Abstract

Purpose

The purpose of this paper is to study the relationship, if any, between the intellectual capital (IC) components, namely human, structural, and physical capitals with the traditional measures of performance of the company, namely profitability, productivity and market valuation.

Design/methodology/approach

Value added by IC (VAIC™) for top 25 firms in the drug and pharmaceutical industry in India, for a ten‐year period from 1996 to 2006 is estimated. The evaluation is done on the basis of the ranking obtained by each firm in the VAIC index estimated. The analysis of correlation and simple linear multiple regression is done for the set of variables representing the performance of the firm and IC.

Findings

The domestic firms seem to be performing well and efficiently utilizing their IC as seen by the VAIC rankings. The empirical analysis found that the human capital was the one which was seen to have the major impact on the profitability and productivity of the firms over the period of study. Though there is a growing importance and efficiency in the utilization of the intellectual resources in the Indian pharmaceutical industry, the reflection of the same in creating an impact on the financial performance of the industry is seen to be missing in the empirical analysis.

Research limitations/implications

The results suggest that in Indian scenario, the market is under developed and yet to reflect the performance of the firms especially in terms of the efficiency parameters and more so in terms of IC efficiency. The stakeholders still perceive the performance of the firm in terms of tangible assets and less in terms of intangible assets. This opens up vistas for further exploration of the findings to prove/disprove the same in other industries.

Practical implications

The paper has strong theoretical foundations, which have a proven record and applications. The methodology adopted has been research tested. There is an urgent and immediate need that the policy makers and corporate decision makers wake up to the need and start taking up the voluntary disclosures of IC, so that the perception among the stakeholders regarding value creation in the firm may get even more transparent.

Originality/value

This is one of the pioneering and seminal attempts to evaluate the IC and its relationship with the traditional measures of corporate performance in Indian pharmaceutical industry. This paper adds to the existing literature, provides a new dimension of performance measurement for knowledge industries in emerging economies and would evoke further research interests to explore different aspects of IC management and measurement in these economies.

Details

Journal of Intellectual Capital, vol. 9 no. 4
Type: Research Article
ISSN: 1469-1930

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Article

Oana Maria Pop, Sara Leroi-Werelds, Nadine Roijakkers and Tor W. Andreassen

The purpose of this paper is to propose a typology of institutions enabling or constraining customer centricity and value co-creation in service ecosystems; illustrate the…

Abstract

Purpose

The purpose of this paper is to propose a typology of institutions enabling or constraining customer centricity and value co-creation in service ecosystems; illustrate the various types of institutions with examples from healthcare; and provide case study evidence on how pharmaceutical companies react to and induce institutional change.

Design/methodology/approach

First, a typology of institutions enabling or constraining customer centricity and value co-creation is proposed and illustrated with examples from healthcare. Next, to clarify how companies deal with these institutions by reacting to or inducing institutional change, two case companies from the pharmaceutical industry are described.

Findings

The research identifies and illustrates nine types of institutions (culture, structure, processes, metrics, language, practices, IP, legislation and general beliefs) grouped by three levels of analysis (micro, meso and macro). Furthermore, the findings of the two case studies indicate that companies react to, but also proactively induce, institutional change.

Research limitations/implications

The investigation is limited to two case studies.

Practical implications

Organizations need to understand the micro-, meso- and macro-level institutions of their service ecosystem; react to institutional changes imposed by other actors; and proactively change institutions by breaking, making or maintaining them.

Social implications

Pharmaceutical companies can improve patient well-being by inducing institutional change.

Originality/value

This research develops a mid-range theory of service ecosystem institutions by developing a typology. This typology is empirically examined in a healthcare context.

Details

Journal of Service Management, vol. 29 no. 4
Type: Research Article
ISSN: 1757-5818

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Article

Gholamhossein Mehralian, Jamal A. Nazari, Peyman Akhavan and Hamid Reza Rasekh

This paper aims to explore the relationship between knowledge creation and intellectual capital (IC) through an empirical study in the pharmaceutical industry. In the…

Abstract

Purpose

This paper aims to explore the relationship between knowledge creation and intellectual capital (IC) through an empirical study in the pharmaceutical industry. In the current economy, knowledge and IC are considered as the most important organizational assets and are the key resources in gaining competitive advantage.

Design/methodology/approach

This paper adopts the socialization, externalization, combination and internalization (SECI) model to examine the format of knowledge creation processes (KCP) and uses a model to demonstrate the relationship between KCP and IC and its components in the pharmaceutical industry. A valid instrument was adopted to collect the required data on KCP and and IC dimensions. Structural equation modeling was used to assess the measurement model and to test the research hypotheses using the data collected from 470 completed questionnaires.

Findings

The results supported the research model and revealed that KCP has significant influence on the accumulation of human capital. The performance of human capital manifests significant impact on structural capital and relational capital.

Practical limitations/implications

Given the strong association between KCP and IC, managers should define their own robust operations for knowledge creation to improve their IC accumulation.

Originality/value

This research departs from the earlier research on KCP–IC by adopting the SECI model and a research model that facilitates the exploration of the relationship between KCP and IC dimensions in the pharmaceutical industry. The research results provided strong support for the KCP–IC relationship.

Details

The Learning Organization, vol. 21 no. 4
Type: Research Article
ISSN: 0969-6474

Keywords

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