The internal strategic challenges facing biotechnology companies are formidable: maintaining technical excellence in a rapidly advancing scientific field; managing an appropriate commercial focus; forming strategic alliances; adding downstream skills in a timely fashion; and sustaining an innovative corporate culture in the face of accelerating growth. Despite small size, limited resources, and competitive pressures, the biotechnology companies—especially the top-tier companies—are navigating these strategic shoals rather well. However, this industry now faces a series of external threats which might sink it. The outcome will depend on the ability of biotechnology managers to communicate with the public and their representatives in Washington regarding the realities of global competition and the relationship of industrial productivity to the quality of life.
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