In the chapter “The Biotechnology Sector – Therapeutics”, the author covers a wide range of topics summarizing the significant role that the formation and growth of the biotechnology sector has played in the entire biopharmaceutical industry. The chapter begins with a bit of history, from the earliest days of how genetic engineering gave birth to this sector, and takes the reader through an overview of biotechnology as it exists today and how the growing innovation in science over the years has been able to both drive the sector and have a tremendous impact on healthcare overall. There is a particular focus on describing various types of innovation which have played a huge role in driving product development in the broader biopharmaceutical industry. Later in the chapter, there is a focus on many of the business aspects of the sector, as drug development in biotechnology requires enormous amounts of capital for success. The author outlines many of the key issues related to different business and financing models that we see across the sector, in addition to the unique management issues in small biotechnology companies. There is significant description and explanation of the symbiotic relationship between the larger pharmaceutical companies and smaller biotechnology start-ups with a focus on how they help each other to bring transformative medicines to patients. The chapter concludes with a discussion about international and regulatory aspects impacting the sector. Overall the author tells the story of the birth and growth of this exciting sector, and its impact on patients and drug development over the last forty years, well substantiated with current data to build the case for how biotechnology today plays a major role in driving one of the most important and exciting technological industries of our time.

In business studies most researchers need to collect some primary data to answer their research question. This entails deciding what kind of data collection method to use, which depends upon an overall judgement on which type of data is needed for a particular research problem. One important aspect is to identify the scope of the study and unit of analysis and what type of analysis is needed. After looking briefly at the chief differences between quantitative and qualitative approaches, the chapter looks at different qualitative methods and when to use them.

Qualitative research imposes specific analytical challenges. This chapter addresses important characteristics of qualitative research and qualitative data. Strategies and procedures to handle the analytical challenges are also dealt with, as well as validity and reliability issues in qualitative research.

This chapter deals with some conceptual (theoretical) foundations of research. Practical business research is often thought of as collecting data from various statistical publications, constructing questionnaires, and analysing data by using computers. Research, however, also comprises a variety of important, non-empirical tasks, such as finding/‘constructing’ a precise problem, and developing perspectives or models to represent the problem under scrutiny. In fact, such aspects of research are often the most crucial and skill demanding. The quality of the work done at the conceptual (theoretical) level largely determines the quality of the final empirical research. This is also the case in practical business research. Important topics focused on in this chapter are the research process and the role of concepts and theory.

The most commonly used technique for the analysis of quantitative data in business research is multiple regression analysis. This is a powerful technique for understanding the relationships between variables, which variables have the most impact, and for prediction. In this chapter, we consider how to specify regression models, how to estimate the models, and how to use the estimated models to undertake some simple hypothesis tests. We emphasize that the researcher has to exercise his/her judgement in deciding not only the specification of the initial model but also in how to adapt and interpret the model in response to the various statistical tests.

Product innovation is the central strategic challenge in the healthcare value chain. Companies in each of the sectors covered in this volume – pharmaceuticals, biotechnology, medical devices, and information technology – compete largely on their rate of innovation and the innovativeness of the new products they make. Start-up companies live and die based on their ability to develop new products and therapies that meet needs not satisfied by larger incumbents. This chapter examines the similarities and differences across these sectors, the commonalities they all face in the innovation process, the basis for the imperative to develop new technologies, and the common challenges facing firms in these sectors. Finally, the chapter explains why everyone studying the healthcare industry needs to know more about these technology-based sectors and their impact upon the rest of the healthcare industry and the economy.

In business studies most researchers need to collect some primary data to answer their research question. This entails deciding what kind of data collection method to use, which depends upon an overall judgement on which type of data is needed for a particular research problem. One important aspect is to identify the scope of the study and unit of analysis and what type of analysis is needed. After looking briefly at the chief differences between quantitative and qualitative approaches, the chapter looks at different qualitative methods and when to use them.

Qualitative research imposes specific analytical challenges. This chapter addresses important characteristics of qualitative research and qualitative data. Strategies and procedures to handle the analytical challenges are also dealt with, as well as validity and reliability issues in qualitative research.

This chapter explains what we mean by research in business studies and to discuss differences between systematic research and common sense or practical problem solving. It looks at what we mean by knowledge and why we do research, examining different research orientations and approaches and the influence of the researcher’s background and basic beliefs concerning research methods and processes. We stress the importance of learning to think and work systematically and developing analytical capabilities in order to produce accurate and reliable results. We also discuss researchers’ moral responsibility towards both their subjects and the readers of their reports.