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Science Business

256 pages, 2006

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In Science Business, Gary P. Pisano argues that the biotech industry—despite its great promise—has failed to perform up to expectations because it faces unprecedented business challenges. Pisano reveals that these challenges stem from the industry's special character as a science-based business, which presents three unique challenges: financing highly risky investments under profound uncertainty and long-time horizons for R&D; learning rapidly enough to keep pace with advances in drug science knowledge; and integrating capabilities across a broad spectrum of scientific and technological knowledge bases. In light of these challenges, Pisano offers companies, investors, and policymakers clear prescriptions for improving the industry's performance.
The Importance of Collaboration

In Science Business, Gary P. Pisano emphasizes the importance of collaboration between science and business. He suggests that the most successful companies are those that can effectively combine scientific research with business strategies. So, if you're running a business, it's time to look into how you can better integrate science into your operations.

The Role of Innovation

Pisano makes it clear that innovation is not just about coming up with new ideas. It's about turning those ideas into profitable products or services. This book will help you understand how to manage the process of innovation in your business. So, take a look at your current innovation strategies and see if there's room for improvement.

The Challenge of Managing Science-Based Businesses

Managing a science-based business is not easy, according to Pisano. It requires a deep understanding of both science and business. This book will give you insights into the unique challenges of managing such businesses and how to overcome them. If you're in this field, it's a must-read.

The Need for a New Business Model

Pisano argues that the traditional business models are not suitable for science-based businesses. He proposes a new model that is more aligned with the realities of these businesses. If you're struggling to make your science-based business profitable, it might be time to explore a new business model.

The Power of Strategic Alliances

In Science Business, strategic alliances are highlighted as a powerful tool for science-based businesses. Pisano shows how these alliances can help businesses access new markets, share risks, and accelerate innovation. So, if you haven't considered forming strategic alliances, now might be the time to start.

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