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Innovation management in crisis: patent analytics as a response to the COVID‐19 pandemic

Guderian, Carsten C.; Bican, Peter M.; Riar, Frederik J.; Chattopadhyay, Sarbani

Abstract:
Crises like the COVID‐19 pandemic affect firms’ innovation management and decision making. On the downside, crises lead to detriments like budget constraints, to which firms often respond by reducing their innovation activities. On the upside, crises are opportunities, where some firms exploiting changing market requirements and necessities excel. No matter in which direction, decision makers must react quickly but often rely on ad‐hoc decisions or even gut feeling when drafting their crisis response strategies. Through a series of distinct cases, we demonstrate that innovation management may fill this void through patent analytics. Drawing on biochemical expertise, we particularly describe the functions and effects of COVID‐19. To counter downside detriments, firms may circumvent budget constraints by discerning patents that can be (1) monetized, for example via sales or licensing deals, or (2) abandoned to achieve cost‐savings, allowing firms to maintain their innovation activities. To realize upside opportunities, firms and governments may use patent analytics to detect key biotechnology firms that are likely to successfully develop treatments and vaccinations against pandemics like COVID‐19. ... mehr

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Verlagsausgabe §
DOI: 10.5445/IR/1000129421
Veröffentlicht am 05.02.2021
Cover der Publikation
Zugehörige Institution(en) am KIT Institut für Unternehmungsführung (IBU)
Publikationstyp Zeitschriftenaufsatz
Publikationsjahr 2020
Sprache Englisch
Identifikator ISSN: 0033-6807, 1467-9310
KITopen-ID: 1000129421
Erschienen in R & D management
Verlag Wiley
Seiten Art.-Nr.: 12447
Vorab online veröffentlicht am 13.12.2020
Nachgewiesen in Scopus
Web of Science
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