September, 2016    SMM-147

Choosing Destiny

This follows on from my previous two articles in this series. I described the forces shaping the life science industry (see Under Pressure, PME Feb 2016) and the subsequent emergence of 26 new business models (See Explosive Evolution, PME June 2016). This newly complex landscape means a plethora of choices for industry strategists and makes it all the more important that they choose their future business model carefully. But how, faced with such complexity, can we pick the model that will work best for us? My research into how firms answer this question reveals a four-step process for navigating the life science market of the future.