Collaborative Strategic Foresight and New Product Development in Chinese Pharmaceutical Firms

Abstract

We integrate insights from open innovation and collaborative strategic foresight (CSF) to theorize collaborative innovation practice. Adopting a case-based approach, we draw qualitative insights from two Chinese pharmaceutical firms - one private and one state-owned, both engaged in new product development (NPD) projects. Focusing on how firms leverage CSF to support their NPD, we offer an interpretive account of how the two firms take different approaches to orchestrating their strategic partnerships to identify, explore, and exploit opportunities for innovation. This article sheds light on how focal firms, through SF practices of perceiving, prospecting, and probing, translate ideas and insights gained from collaborating partners into action to support their innovation processes. Expanding and shifting the focus of traditional strategic foresight from an inward-looking orientation to an outward-looking CSF, we show how focal firms could tap into distributed knowledge embedded in sources located beyond the theoretical boundaries of the firm. We argue that appropriately managed CSF at different stages of NPD could help companies to better sense, seize, and integrate potentialities and limits otherwise overlooked by their competitors. We reveal that the type of ownership, an unexplored factor, explains a firm's different CSF approaches (explorative versus exploitative) in innovation for NPD.

Publication DOI: https://doi.org/10.1109/tem.2020.3040041
Divisions: College of Business and Social Sciences > Aston Business School
College of Business and Social Sciences > Aston Business School > Marketing & Strategy
Additional Information: Copyright © 2020, IEEE. Personal use of this material is permitted. Permission from IEEE must be obtained for all other uses, in any current or future media, including reprinting/republishing this material for advertising or promotional purposes, creating new collective works, for resale or redistribution to servers or lists, or reuse of any copyrighted component of this work in other works.
Uncontrolled Keywords: Chinese pharmaceutical firms,collaborative strategic foresight (CSF),new product development (NPD),open innovation,Strategy and Management,Electrical and Electronic Engineering
Publication ISSN: 0018-9391
Last Modified: 22 Apr 2024 07:31
Date Deposited: 12 Jan 2023 14:41
Full Text Link:
Related URLs: https://ieeexpl ... ocument/9298801 (Publisher URL)
https://bura.br ... dle/2438/21903/ (Author URL)
http://www.scop ... tnerID=8YFLogxK (Scopus URL)
PURE Output Type: Article
Published Date: 2022-04
Published Online Date: 2020-12-18
Accepted Date: 2020-11-15
Authors: Li, Xiaoqing
Sarpong, David (ORCID Profile 0000-0002-1533-4332)
Wang, Catherine L.

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