With regard to managing the risk and uncertainty of such product development, especially given the low success rates, product diversification and collaboration strategies can be instrumental for firms
Further, the study proposes that the firm’s degree of technological diversification, especially in unrelated forms, reinforces this relationship
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Practitioner Points Collaborating with knowledge‐diversified alliance partners has a dual effect (i.e., positive and negative) because of collaboration challenges rising from the knowledge diversity between partners
As we can see, the success of product innovation rely on diversified aspects that are not necessarily core-product features
[Read more] JPIM Article | February 22, 2022 Related and Unrelated Product Diversification and Collaboration Strategies: Comparison Between the Pharmaceutical and Biopharmaceutical Industries Keungoui Kim, Junmin Lee, Junseok Hwang, and Eungdo Kim In pharmaceutical and biopharmaceutical industries, developing
The companies represented a wide range of industries, including consumer-brands powerhouse Church & Dwight, nitty-gritty business-to-business oil energy services company Nalco, diversified computer company HP and specialty-chemicals company International Food and Fragrances
It immediately assessed its portfolio and decided that it needed to diversify and have a well-defined plan for growth in the future