Letter from the Editor

Internationalization & Growth

Sebastian Kortmann

Being closely linked to each other, internationalization and growth denote two keywords often brought up in these days. Companies in the chemical industry increasingly explore business opportunities beyond their existing business segments, enter emerging markets in fast-growing countries and establish strategic alliances with foreign partners. They understood that going international not only provides a potential source of competitive advantage, but also enables sustainable organizational growth.
Transferring this idea to our journal, we are proud to announce that Mattia Bianchi and Federico Frattini, two of our colleagues from Sweden and Italy, will join the editorial board of the Journal of Business Chemistry. Mattia Bianchi is assistant professor of business administration at the Stockholm School of Economics and research fellow at the Institute of Management, Sant’Anna School of Advanced Studies in Pisa. Federico Frattini is assistant professor at Politecnico di Milano. Both have published several articles on innovation and technology management, international businesses and open innovation in leading journals, such as Journal of Product Innovation Management, Journal of International Business Studies, or California Management Review.
This issue of the Journal of Business Chemistry is to welcome Mattia Bianchi and Federico Frattini as international editors and comprises the following articles from Japan, Finland, Mexico, and Switzerland.
In their research paper “Optimal Ambidexterity and Exploration Valuableness” Osamu Suzuki and David Methe examine how short-term and long-term trade-offs can be balanced in pharmaceutical product development. Their study is based on an empirical analysis of resource allocation patterns for 231 new pharmaceutical products and their economic value. They find that pharmaceutical companies realize a higher exploration degree of valuableness and, thus, an optimal level of ambidexterity by allocating about 1.5 times more resources to exploitative products than to exploratory ones.
Anne Toppinen and Meri Siljama, then, analyze the impact of the Lead Market Initiative (LMI) on bio-based products by means of a qualitative case study. The LMI is an EU initiative and denotes an innovative platform for advancing the knowledge-based bio-economy in Europe. In this study, the researchers seek to identify the main challenges and opportunities of the LMI, to compare these results with other EU initiatives and to clarify if the LMI addresses relevant challenges adequately. They close with a detailed juxtaposition of opportunities and challenges, as well as identify important areas for improvement.
In our practitioner´s section, Álvaro Pedroza Zapata and Sara Ortiz Cantú elaborate on chemical formulation. They present potential sources of information related with technological intelligence in the design of chemical formulations and describe how technology maps can support the integration of technology strategies. Moreover, they provide an overview of relevant scientific databases in in connection with chemical formulation.
In their article “Working Capital Management in the Swiss Chemical Industry” Stefan Seeger, Alwin Locker, and Christian Jergen assess Swiss chemical and pharmaceutical companies with regard to their working capital management. While their analysis reveals that an optimized working capital management may play an important role for a firm’s competitiveness, the authors particularly emphasize the commitment and awareness of the management as key drivers of a successful working capital management.
Now, please enjoy reading the second issue of the eighth volume of the Journal of Business Chemistry. We would like to thank all authors and reviewers who have contributed to this new issue. If you have any comments or suggestions, please do not hesitate to send us an email at contact@businesschemistry.org.