MGT603 GDB NO. 1 FALL 2022 || 100% RIGHT SOLUTION || STRATEGIC MANAGEMENT || BY VuTech

MGT603 GDB NO. 1 FALL 2022

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MGT603 GDB NO. 1 FALL 2022 || 100% RIGHT SOLUTION || STRATEGIC MANAGEMENT || BY VuTech

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MGT603

GDB NO. 1

STRATEGIC MANAGEMENT

FALL 2022

LAST DATE: 20-12-2022

 

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GDB

Scenario:

In the contemporary world, R&D is considered a major source of competitive advantage. Though today some firms tend to indulge in no R&D activities, however, many others depend on R&D for their survival. The firms whose survival depends on successful R&D activities must make several strategic choices. One of these is the choice between internal R&D (where an organization operates its own R&D department) and external R&D (where firms hire independent agencies/ researchers to develop specific products).

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Required:

You being a strategic manager are required to discuss that:

“Which amongst internal versus external R&D would you choose and why?”

Provide strong justifications for your choice backed by the concepts discussed in the course of Strategic Management (Discussions with better logical reasoning and arguments will be given better marks).

The Word limit for your answer is 160 words.

SOLUTION

There is no big difference amongst internal versus external R&D.

External R&D

• External data, on the other hand, are any data generated outside the wall of the business.
• External R&D refers to the spontaneous R&D cooperation between companies and universities, research institutes, and other companies according to their interests. The two most common forms of external R&D are Contract Research Organizations (CROs) and Industry-University-Research Institutes (IURs).
• In technical terms, a CRO is described as an independent contractor for the sponsor who assumes one or more of the sponsor’s obligations.
• CROs have distinctive characteristics, including specialization and efficiency.
• The IURs refer to external R&D for which universities and research institutes are collaborators. Its distinctive feature is that each partner can contribute to R&D activities more comprehensively based on the strengths that they bring to the table.
• To avoid competition, CROs intentionally choose their sites away from other CROs and thus occupy the partial market. Therefore, there is a minimal possibility of cooperation between CROs. They cannot share knowledge among themselves, so they cannot impact the development of S&T together.
• The growth of the CRO industry in China has boosted the development of the Chinese pharmaceutical industry.
• It has increased the opportunities for international collaboration.
• External technology acquisition does not investment positively affects company performance.

Internal R&D

• Internal sources of data reflect those data that are under the control of the business.
• Internal R&D refers to the R&D activities carried out by the company itself without the help of external forces. It is characterized by the independence and autonomy to pursue S&T innovation.
• internal R&D investment positively affects company performance,
• The study results confirm the positive effects of internal R&D and exogenous innovation behavior.
• Internal R&D has a positive impact on manufacturing technology upgrades.
• The effect of internal R&D on S&T output is not significant but has a positive impact on economic growth.

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