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Bioeconomy Development and Using of Intellectual Capital for the Creation of Competitive Advantages by SMEs in the Field of Biotechnology

Author

Listed:
  • Daniel Adrian Gârdan

    (Spiru Haret University Bucharest, Romania)

  • Mihai Andronie

    (Spiru Haret University Bucharest, Romania)

  • Iuliana Petronela Gârdan

    (Spiru Haret University Bucharest, Romania)

  • Irina Elena Andronie

    (Spiru Haret University Bucharest, Romania)

  • Mariana Iatagan

    (Spiru Haret University Bucharest, Romania)

  • Iulian Hurloiu

    (Spiru Haret University Bucharest, Romania)

Abstract

The article aims to present a thorough research on the perceptions and opinions of the Romanian managers of small and medium enterprises in applied biotechnology on the importance of intellectual capital and the application of knowledge management principles to create and maintain competitive advantages. At the basis of the development of bio-economics, there is a successful implementation not only of top biotechnologies but also of new economic models that engage the economic agents in complex exchanges. Biotechnology companies are a true engine that helps the development of bio-economy basic mechanisms, optimization of their work having long-term repercussions. Companies that develop a sustainable knowledge management system that they integrate into their marketing strategy have the most prominent position on the market and gain multiple competitive advantages. The research, based on the qualitative research methodology in the form of an in-depth interview, highlights that the strategic decision regarding the implementation of a knowledge management system and the intelligent use of intellectual capital resources are correlated with variables such as: the managers’ level of education in the field, corelating managers' activity to organizational culture. Knowledge, for new business models, is a good asset that can be capitalized; from this perspective, the implications at the level of marketing strategies are in the same time diverse and complex. Biotechnology SMEs will adapt to requirements by developing competitive advantages as a result of establishing relationships and developing exchanges within strategic alliances and less according to a classical model based on attributes that aims positioning of products or services above those of the competition.

Suggested Citation

  • Daniel Adrian Gârdan & Mihai Andronie & Iuliana Petronela Gârdan & Irina Elena Andronie & Mariana Iatagan & Iulian Hurloiu, 2018. "Bioeconomy Development and Using of Intellectual Capital for the Creation of Competitive Advantages by SMEs in the Field of Biotechnology," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 20(49), pages 647-647, August.
    • Handle: RePEc:aes:amfeco:v:20:y:2018:i:49:p:647
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    Cited by:

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    3. Violeta Mihaela Dinca & Beatrice Trocinescu & Simona Stamule & Mariana Bunea & Vasile Dinu, 2024. "Opportunities and challenges for managers within the East-European agriculture sector: Case study on Romania," E&M Economics and Management, Technical University of Liberec, Faculty of Economics, vol. 27(4), pages 121-134, December.
    4. CREȚOIU, Raluca, 2019. "Approaches To Staff Behaviour From The Perspective Of Operations Management," Annals of Spiru Haret University, Economic Series, Universitatea Spiru Haret, vol. 19(1), pages 83-93.
    5. Irina Chiriac, 2019. "Bio-Economy Development in Romania," Ovidius University Annals, Economic Sciences Series, Ovidius University of Constantza, Faculty of Economic Sciences, vol. 0(1), pages 75-82, August.
    6. Lujing Liu & Jiyue Zhang & Jian Xu & Yiqun Wang, 2022. "Intellectual Capital and Financial Performance of Chinese Manufacturing SMEs: An Analysis from the Perspective of Different Industry Types," Sustainability, MDPI, vol. 14(17), pages 1-17, August.
    7. Daniel RUSU, 2021. "The Effect Of Internal And External Factors On Strategic Management For Innovation Processes At The Company Level," Proceedings of the INTERNATIONAL MANAGEMENT CONFERENCE, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 15(1), pages 408-418, November.
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    More about this item

    Keywords

    intellectual capital; bioeconomy; knowledge management; biotecnology; competitive advantage;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing

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