Abstract
The innovation process in today’s globalized environment has not only accelerated, but has changed the companies’ approach to cooperation as well. Covid-19 and the current war situation have demonstrated how cooperation lead to a certain level of vulnerability, which ultimately reduce companies’ ability to respond to crisis situations, hence eroding their resilience capabilities. The pharmaceutical industry is of particular importance after Covid-19, and as one of the most innovation-driven industry, the possible effects of Industry 5.0 is yet an untapped research theme. The paper presents a case study from the Hungarian pharmaceutical industry, in which an interesting approach is demonstrated on how the deliberate approach to Industry 5.0 can promote more self-reliant corporate operation. The research takes an inductive, qualitative approach, as 18 interviews were conducted with respective employees and partners of the analyzed Hungarian pharmaceutical SMEs. The novel outcome of the paper is on the one hand to connect Industry 5.0 and innovation ecosystem concepts from practical viewpoint within the pharma industry. On the other hand, the analysis highlights an interesting concept on how the current market disruptions may push companies to pursue more independence in today’s inter-connected global economy.
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Horvath, K.G. (2024). Riding the Innovation Wave Solo—Does Industry 5.0 in the Pharmaceutical Sector Make Companies More Independent Than Ever?. In: Visvizi, A., Troisi, O., Corvello, V. (eds) Research and Innovation Forum 2023. RIIFORUM 2023. Springer Proceedings in Complexity. Springer, Cham. https://doi.org/10.1007/978-3-031-44721-1_37
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