TY  - JOUR
TI  - Transformation of Value in Innovative Business Models: The Case of Pharmaceutical Market
T2  - Foresight and STI Governance
IS  - Foresight and STI Governance
KW  - business model
KW  - innovation
KW  - transformation of value
KW  - corporate strategies
KW  - pharmaceutical market
KW  - case studies
AB  - Creating and developing innovative business models (BM) is currently one of the key success factors for contemporary business. Rapid complex changes in the world reemphasize the need to better understand how BM can be successfully innovated in different markets. The digital component of BM innovation comes under a special spotlight, using the example of a company within the pharmaceutical industry. In particular, this study demonstrates how BM innovation can be developed and implemented in practice within the pharmaceutical market, which accelerates its digital transformation to increase the value it brings to the healthcare systems around the world while sustaining the ongoing crisis. In order to do that, the current paper offers a framework for BM innovation that defines BM elements, BM innovation aspects, and BM innovation logic. The study covers six markets that represent different value creation systems and mechanisms. This paper demonstrates how technological innovations can be activated using managerial tools and insights and also how they can be combined into the holistic system based on the needs of the key value chain actors.
AU  - Denis Klimanov
AU  - Olga Tretyak
AU  - Uri Goren
AU  - Timothy White
UR  - https://foresight-journal.hse.ru/en/2021-15-3/505877692.html
PY  - 2021
SP  - 52-65
VL  - 15