TITLE

STRATEGIC ASSETS, INTERDEPENDENCE AND TECHNOLOGICAL CHANGE: AN EMPIRICAL INVESTIGATION IN PHARMACEUTICAL DRUG DISCOVERY

AUTHOR(S)
Thomke, Stefan; Kuemmerle, Walter
PUB. DATE
August 2000
SOURCE
Academy of Management Proceedings & Membership Directory;2000, pI1
SOURCE TYPE
Conference Proceeding
DOC. TYPE
Proceeding
ABSTRACT
Although the significance of the resource-based perspective to strategic thinking has been made clear and written about extensively, the detailed dynamics through which strategic assets are built and accumulated by firms is still unclear. Particularly the question of asset accumulation and interdependence raises interesting research questions: That is, if some assets are complementary and thus increase in value when brought together, then to what extent does this influence a firm's strategy in accumulating these assets. In this paper, we explore these matters by means of an empirical study of pharmaceutical drug development where we studied (1) the dynamics of three interdependent technological assets (chemical libraries, combinatorial chemistry, and high-throughput screening); (2) the strategies taken by firms and the extent to which firms benefit from bringing these complementary assets together; (3) the role of managerial inertia in the accumulation of strategic assets as a response to the economic forces of interdependence. Particularly the study of managerial inertia resulted in findings that were somewhat unexpected: Although prior research points towards inertia as a source of resistance towards the adoption of new technological assets, we found some evidence that management can be quick to overcome the forces of inertia if the underlying economies of interdependence are sufficiently strong.
ACCESSION #
5438561

 

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