Latest Tomorrow's Challenges

Operations

Digitalization: a fresh idea for the fruit and veg supply chain

By Ralf W. Seifert with Mervegül Kirci. - 27/03/2017

The cost of global food waste and loss is estimated to be $940 billion a year . For businesses, this represents a significant proportion of shrinkage in retail supply chains and it has a direct impact ...

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Marketing

Upstart start-ups and agile disruptors – and what to do about them

By Dominique Turpin - 27/03/2017

Now is the age of market disruptors: of Uber, Deezer, Alipay, Rakuten and many others. These innovative start-ups and nimble brands are crashing into markets traditionally dominated by multinational ...

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Innovation, Information Technology

How disruption is redefining leadership

By Michael R. Wade - 23/03/2017

Imagine that you are an executive overseeing retail banking at a large financial services company. In addition to the normal challenges you face as one of the company’s leaders, you are confronted wit ...

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Governance, Economics

You can’t pay bills with likes on Facebook

By Stéphane Garelli - 17/03/2017

If the post-truth era triumphs, if alternative facts supersede evidence, if polls are so wrong, it is perhaps because the relationship people have with the real world has changed. Throughout time, ...

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Organizational Design, Economics

Tough love – Why Indian execs mustn’t undersell, but must democratize, their companies

By Amit Shankar Mukherjee - 10/03/2017

America has an anti-free-trade populist in the White House. Without rethinking how its companies face the world, India will find it extraordinarily difficult to argue that it creates value, that it is ...

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Governance, Economics

Are people really a company’s most important resource?

By Stéphane Garelli - 10/03/2017

It happens regularly all over the world and in every company. The CEO addresses his collaborators: “You are the most important resource at this company”. He believes it, and he is right. His ...

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Sales, Economics

Digital supply chains – Do you risk falling behind?

By Ralf W. Seifert with Katrin Siebenbürger Hacki. - 02/03/2017

The second edition of the IMD Global Supply Chain Survey examines how organizations rate themselves on 20 important trends in supply chain management. It shows that experts from leading European ...

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Finance, Economics

What private banks need to do to drive the future of wealth management

By Denise H. Kenyon-Rouvinez with Enrica Sighinolfi. - 27/02/2017

The fourth industrial revolution – featuring artificial intelligence, big data, the internet of things and so on – presents many challenges to private banks when it comes to wealth management. They wi ...

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Governance, Strategy

Don’t just start a strategy process without thinking about the options

By Bettina Büchel - 24/02/2017

Once top teams recognize the need to fundamentally revisit their strategy, they need to be critically aware of the key decisions in formulating the strategy process in order to ensure that the strateg ...

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Team-Leadership, Interpersonal Leadership

Is your team trusting or just polite?

By Ben Bryant - 24/02/2017

Between Samsung explosions and Volkswagen recalls, FIFA’s racketeering and Wells Fargo’s fake accounts, some of the most recent corporate scandals have been mainstream events with far-reaching impact. ...

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Latest insights@IMD

Innovation, Strategy, Organizational Design

Innovation Happens Elsewhere: Rethinking Your Business to Grow and Compete

By Howard H. Yu, Knut Haanaes, Anand Narasimhan, Ivy Buche with Lindsay McTeague. - 08/03/2017

Around 70 executives recently took part in a highly participative IMD Discovery Event to understand the concept of open innovation that is currently democratizing invention and product development, by ...

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Team-Leadership, Organizational Design

Leading Collaboration in Global Organizations: How to Build a House without a Hammer

By Martha L. Maznevski, Charles Dhanaraj, Anouk Lavoie Orlick with Lindsay McTeague. - 08/03/2017
Contributor: Phillipe Jost, Sebastian Pons Miquel, Ebru Katip.

Almost 100 executives attended a recent Discovery Event to find out how global organizations can create successful collaboration patterns and networks. Professors Martha Maznevski and Charles Dhanaraj ...

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Strategy

Bridging the Capability Gap to Go Global

By Anand Narasimhan, Stéphane J. G. Girod, Knut Haanaes, Nancy Lane with Susan Stehli. - 03/03/2017

Participants from around the world gathered at an IMD Discovery Event in September 2016 to learn how companies can bridge the capability gaps that prevent them from benefitting fully from an increasin ...

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Marketing, Sales

Capturing Value and Avoiding Commoditization through Pricing Excellence

By Stefan Michel, Michael Sorell with Michelle Perrinjaquet. - 21/12/2016

In April 2016, around 60 executives attended an IMD Discovery Event to discuss pricing excellence from different perspectives and to explore recent case studies from both B2B and B2C markets.         ...

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Political Economy, Strategy, Innovation

Health in Fragile Environments

By Carlos A. Primo Braga, James E. Henderson, Howard H. Yu, William A. Fischer, Karine Avagyan with Susan Stehli. - 05/12/2016

In 2014 the International Committee of the Red Cross (ICRC) launched the Global Partnerships for Humanitarian Impact and Innovation (GPHI2) to promote the development of innovative solutions to ...

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Innovation

Digital Business Agility and Workforce Transformation

By Michael R. Wade, Jialu Shan, Andrew Tarling - 26/10/2016
Contributor: Jeff Loucks, James Macaulay, Andy Noronha, Joel Barbier.

In  May  2016,  around 80 executives from 42 global organizations attended an IMD Discovery  Event hosted by the Global Center for Digital Business Transformation.  The aim of the event was to explore ...

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Innovation

Strategies for Responding to Digital Disruption

By Michael R. Wade, Jialu Shan with Lindsay McTeague. - 02/09/2016
Contributor: Jeff Loucks, James Macaulay, Andy Noronha.

  In February 2016, around 70 executives attended an IMD Discovery Event hosted by the Global Center for Digital Business Transformation. The purpose was to shed light on strategic responses to digita ...

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Innovation

A.L.I.E.N. Thinking

By Cyril Bouquet, William A. Fischer, Howard H. Yu, Michael Sorell with Susan Stehli. - 02/08/2016

  In March 2016, 68 participants gathered at IMD to learn about how A.L.I.E.N. thinking could help them transform their businesses and industries. They came away with tools to help them connect with ...

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Economics

One Belt – One Road: China’s Re-Engineering of the Global Business Environment

By Jean-Pierre Lehmann, Ivy Buche with Michelle Perrinjaquet. - 14/07/2016
Contributor: Marc Laperrouza, Shuaihua Cheng, Lu Xiankun, Jean-Guy Carrier, Marion Jansen, Félix Sutter, Yeroen Van der Leer.

  In February 2016, senior strategy executives attended an IMD Discovery Event to learn more about China’s “One Belt – One Road” initiative, potentially the most dramatic transformation of the world ...

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Finance

Finance for Non-finance People

By Salvatore Cantale, Karine Avagyan with Susan Stehli. - 07/07/2016

  In January 2016, 26 executives from 18 companies participated in an event aimed at demystifying finance for non-finance people and highlighting the influence that managers from different areas of th ...

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Latest IMD Professor Reacts

Team-Leadership

Jeff Jones at Uber: What's the real story?

By Michael D. Watkins - 21/03/2017

When the going gets tough, do the not-so-tough get going? Such may be the case with Jeff Jones who, after just 6 months as President, has departed Uber . The reason, according to sources cited by Reco ...

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Ethics

The cancer of corporate cheating will kill capitalism

By Jean-Pierre Lehmann - 16/03/2017

And now, it’s Renault! The French anti-fraud agency (DGCCRF) has accused the carmaker of having cheated on its emissions test data for the last twenty-five years. This brings Renault in line with ...

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Political Economy

Tawfik Jelassi on scandals, Le Pen, Frexit and the upcoming French election

By Tawfik Jelassi - 14/03/2017

Tawfik Jelassi, IMD Professor and Strategy and Technology Management, recent Minister of Higher Education, Scientific Research, and Information & Communication Technologies in Tunisia, and French and ...

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Political Economy, Economics

The falling star called democracy

By Arturo Bris - 13/03/2017

Today, only 4.5% of the world’s population lives in a fully democratic country, according to the Economist Intelligence Unit’s Democracy Index. About 45% live in flawed democracies, while 33% are ...

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Governance

Putting gender diversity on the board agenda

By Bettina Büchel - 08/03/2017

Today, there are still fewer women than men on company boards, even though in many countries that belong to the Organization for Economic Co-operation and Development (OECD), women have obtained highe ...

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Political Economy, Economics

GDP is dead. Long live ‘happiness’

By Arturo Bris - 03/03/2017

The modern concept of Gross Domestic Product (GDP) was developed by economist Simon Kuznets in 1934. Since then, and especially after the Bretton Woods Accords, GDP has been the accepted standard for ...

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Economics, Information Technology

How does the Snapchat IPO make any sense?

By Michael R. Wade - 02/03/2017

The shares of Snap will start to trade on the US markets today. The IPO price of $17 per share values the company at about $24B. Based on interest in the shares (they were ten times over-subscribed), ...

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Political Economy, Economics

A history lesson (from year one) for Trump and the Brexit crowd: Isolationism has never worked!

By Stéphane Garelli - 03/02/2017

From Trump’s wall and immigrant ban, to Britain pulling away from its longtime partners, the tendency toward isolationist policies is on the rise in the west. We’ve seen this before but it has never h ...

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Political Economy, Economics

Swiss people’s party plays on fear and terrorism ahead of third generation foreigner vote

By Stefan Michel - 27/01/2017

Imagine that your grandparents and parents and you had lived the majority of your lives in your home country but that none of you were full citizens. That’s still possible in Switzerland but the ...

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Self-Leadership, Interpersonal Leadership

Should companies and government meddle with “happiness”?

By Stéphane Garelli - 23/01/2017

Oud Bint Khalfan Al Roumi is twice happy. She landed a prestigious government position in the United Arab Emirates. Then, she was appointed to the rather unique job of “state minister in charge of ...

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Latest In the Field

Governance, Team-Leadership, Strategy

In the Field with Royal FrieslandCampina

By Robert Hooijberg, Nancy Lane - 05/12/2016

At a glance Two Dutch dairy cooperatives, each with their own operating companies, faced an increasingly competitive and uncertain European market and so they decided to merge. A new CEO was appointed ...

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Economics

In the Field with Cisco India

By Charles Dhanaraj, Ivy Buche - 08/06/2016

At a glance • Multinational companies (MNCs) need to innovate in emerging markets to capture unique opportunities. • Trying to innovate without a supportive, local ecosystem is a formidable task. • Ci ...

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Marketing

In the Field with Royal DSM

By Wolfgang Ulaga, Athanasios Kondis - 25/11/2015

At a glance • A diversified industrial manufacturer embarked on an ambitious marketing excellence initiative, driven by the HQ-based CMO. • The company’s technology-focused heritage and a culture of ...

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Sustainability

In the Field With GE Healthcare India

By Wolfgang Ulaga, Athanasios Kondis - 04/11/2015

At a glance • The growth focus in emerging markets is shifting from big mega cities to semi-urban and rural areas. • Serving low-resource business customers in these settings is a formidable task. • G ...

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Latest Books

Family Business

Wise Family Business

By Joachim Schwass with Anne-Catrin Glemser. - 31/10/2016

Wise Family Business aims to help families in business to identify new and better ways of achieving longevity, sustainability and performance. The book presents ground-breaking new insights and practi ...

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Competitiveness

World Competitiveness Yearbook 2016

01/07/2016

The IMD World Competitiveness Yearbook is the leading annual report on the competitiveness of nations and has been published by IMD since 1989. It benchmarks the performance of 62 countries based on m ...

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General Management

Execution and Change Fieldbook

By Bettina Büchel - 26/06/2016

The goal of this fieldbook is to provide you with support in executing and ensuring change around the initiative that you or your team is in charge of. Over the last couple of years of our work with ...

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Innovation

Digital Vortex

By Michael R. Wade with Jeff Loucks, James Macaulay, Andy Noronha. - 25/06/2016

"Digital disruption" sounds like another business buzzword - until it happens to your company. Seemingly out of nowhere, startups and other tech-savvy disruptors attack. Your customers bolt for the do ...

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Value Chain

Strategy is Digital

By Carlos Cordon with Pau Garcia-Milà, Teresa Ferreiro, Pablo Caballero. - 23/06/2016

This book presents strategies and practices to allow everyday companies to cope with the fundamentally changing landscape of business models and to take advantage of the huge business opportunities ...

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Leadership

Inspiring Stewardship

By Didier Cossin with Ong Boon Hwee. - 01/06/2016

Inspiring Stewardship helps leaders drive sustainable development and growth by balancing short- and long-term objectives amidst competing interests. By examining a range of exceptional individual and ...

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Competitiveness

Are You a Tiger, a Cat or a Dinosaur?

By Stéphane Garelli - 12/04/2016

Competitiveness, like social networks, sustainable development or climate change, is a topic that has captured the world. Politicians, businessmen and media constantly refer to it. What does it mean? ...

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Innovation

Created in China

By Georges Haour with Max Von Zedtwitz. - 13/01/2016

Undisputedly, China has become the world's manufacturing powerhouse, accounting for around half of all personal computers, digital cameras and kitchen appliances. However, the country is fast ...

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Political Economy

New Realities

Edited by: Jean-Pierre Lehmann, Carlos A. Primo Braga. 01/12/2015

The book New Realities: Business Dynamics at the Frontiers of Globalization presents a series of assessments of where the global economy may be headed. It builds upon business cases from companies in ...

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Strategy

Your Strategy Needs a Strategy

By Knut Haanaes with Martin Reeves, Janmejaya Sinha. - 09/06/2015

Executives are bombarded with bestselling ideas and best practices for achieving competitive advantage, but many of these ideas and practices contradict each other. Should you aim to be big or fast? ...

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Latest Perspectives for Managers

Human Resources

Intrinsic Motivation: The Missing Piece in Changing Employee Behavior

By Shlomo Ben-Hur, Nik Kinley - 24/05/2016

“I put a dollar in one of those change machines. Nothing changed.” George Carlin (American comedian) Though it is hardly ever listed in job descriptions, changing employees’ behavior is an important p ...

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Communication

Leading Chinese Companies on to the International Stage

By Balaji S. Chakravarthy, David Yau - 13/11/2015

Introduction The Boston Consulting Group (BCG) announces each year a list of 100 companies that it believes are global contenders to watch. Not surprisingly, nearly a third of these companies are from ...

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Political Economy

Lessons from an Unlikely candidate: Nokia in China (2001 to 2008)

By Howard H. Yu - 07/11/2014

To many observers, the growth of the mobile phone market in China is staggering. According to the research firm Canalys, during the first quarter of 2012 sales of smartphones in China saw a ...

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Sustainability

Reaching for the “restorative”: Rethinking the Sustainability journey

By Daina Mazutis, Christopher Zintel - 27/10/2014

William McDonough and Michael Braungart, pioneers in green design, are credited with the following analogy, “If a car is heading south, slowing down does not cause it to head north. Sooner or later yo ...

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Organizational Design

Are you ready to SPRING clean your organization?

By Michael R. Wade - 06/05/2014

Removing your organizational clutter Like a house at the end of a long winter, most enterprises are full of clutter. While domestic mess may include outgrown clothing, broken sports equipment, and ...

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Innovation

Digital Business Transformation: Where is your company on the journey

By Donald A. Marchand, Michael R. Wade - 29/04/2014

Digital business transformation (DBT) is happening on a scale and at a speed that managers find both threatening and promising. In a report entitled “The Internet of Everything,” CISCO Systems estimat ...

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Strategy, Organizational Design

Anchored agility: the holy grail of competitiveness

By Bettina Büchel, Michael R. Wade - 17/06/2013

  We  state that we are a global company with operations in multiple countries. So, from the outside, it looks like a true multinational; but the view from the inside is less clear: We have 4 e-mail ...

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Strategy, Organizational Design

Developing unique business models: Going beyond services/solutions

By Michael Yaziji - 21/05/2013

“If I hear the call to ‘innovate’ one more time...” “Innovate! Innovate! Innovate!” It’s become a numbing mantra. Your company strives to innovate and differentiate, but do you have a sneaking suspici ...

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Economics, Finance

Obstacles to Implementing Value-based Pricing

By Stefan Michel - 09/05/2013

Practitioners and researchers largely agree that value-based pricing leads to higher profits than cost-  or competition-based  pricing.[1] Yet,despitethe fundamental superiority of VBP, studies ...

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Strategy, Marketing

Fighting Commoditization

By Kamran Kashani - 01/10/2008

If the role of marketing was ever to bring about a balanced relationship between sellers and buyers, then in many industrial sectors it has failed to live up to that promise. Consider the following ...

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Latest Working Papers

Strategy, Economics

How Does Multinational R&D Evolve in Emerging Markets?

By Charles Dhanaraj, Rishikesha Krishnan, Srivardhini Jha - 03/11/2016

Abstract: Our inductive study of nine European multinational enterprises (MNEs) and their R&D units in India uncovers a distinct trajectory of overseas R&D evolution, ubiquitous in emerging markets. I ...

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Innovation

How can traditional businesses react to the digital transformation tsunami? Four steps to success

By Carlos Cordon, Teresa Ferreiro - 15/01/2016

Introduction: How can a company overcome a 90% drop in revenues? By using big data. But how? Where should it start? This is the situation that major Dutch healthcare company Mediq faced in 2012. It us ...

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Operations, Economics

Here Comes the Omnichain

By Carlos Cordon, Teresa Ferreiro - 11/01/2016

Abstract: The value chain encompasses all the activities involved in delivering a product or service to customers. In the pharmaceutical industry, for example, that includes everything from raw materi ...

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Information Technology, Innovation

Corporate Digital Learning: How to Get It “Right”

By Carlos Cordero, Jeanny Wildi - 08/05/2015

Executive Summary: This position paper is a collaborative effort between KPMG AG Wirtschaftsprüfungs-gesellschaft, Germany (KPMG) and IMD business school, Switzerland (IMD). The aim of the paper is to ...

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Political Economy

The WTO and the Business Community

By Carlos A. Primo Braga, Athanasios Kondis - 27/11/2014

Introduction 1 It has become a cliché to say that the WTO is at a crossroads. 2 After twelve years of negotiations on the so-called Doha Development Agenda (DDA), it appeared there was no end in sight ...

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Political Economy

The WTO and Agriculture: Opportunities and Challenges for Brazil

By Carlos A. Primo Braga - 07/11/2014

Introduction: The Doha Development Agenda (DDA) negotiations “commemorated” their twelfth anniversary in November 2013. Policymakers in industrialized nations seem to be both distracted (by  the  ...

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Political Economy, Governance

Brazil and China: Complementarity and Competition

By Jean-Pierre Lehmann, Carlos A. Primo Braga - 14/10/2014

Introduction: It is impossible to tell how historians fifty years from now will judge this first decade-and-a-half of the 21st century. Three things, however, are reasonably certain. They will note it ...

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Sustainability

Social and environmental compliance collaboration

By Francisco Szekely - 27/01/2014

Full text restricted  ( The author may grant permission for the text to be released in specific cases. If you are interested, contact  our Information Center   giving your name, company and reason for ...

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Economics, Strategy

Publicly Funded Research for SMEs: Is it worth trying?

By Benoit F. Leleux, , Jim Pulcrano - 22/04/2013

Abstract Innovation is essential to biomedical ventures, but finding the necessary financing can be difficult for small and/or early-stage firms. For this study, 73 Swiss biomedical companies provided ...

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