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Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle

This study attempted to explore the competitive advantage strategies of the medical consumables industry (MCI) from the perspectives of human resources, research and development (R&D) and the industry life cycle. As one of the essential branches of modern medical device industry, the MCI has dev...

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Autores principales: Chen, Jianxiong, Yang, Chung-Cheng
Formato: Online Artículo Texto
Lenguaje:English
Publicado: MDPI 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8003565/
https://www.ncbi.nlm.nih.gov/pubmed/33808638
http://dx.doi.org/10.3390/ijerph18063180
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author Chen, Jianxiong
Yang, Chung-Cheng
author_facet Chen, Jianxiong
Yang, Chung-Cheng
author_sort Chen, Jianxiong
collection PubMed
description This study attempted to explore the competitive advantage strategies of the medical consumables industry (MCI) from the perspectives of human resources, research and development (R&D) and the industry life cycle. As one of the essential branches of modern medical device industry, the MCI has developed rapidly in recent years as global demand for medical consumables has shown continual growth, but it also faces market uncertainty. This study took Taiwan’s small/medium medical consumables enterprises (SMMCEs) as a sample, and used the translog revenue function to study the competitive advantage of the MCI through human resource and R&D investment strategies and the stage characteristics of the industry life cycle curve. The results showed that the various human resources and R&D expenses of the small/medium medical consumables industry (SMMCI) can interact with each other to influence total revenue and that the SMMCI needs more varied types of human resources to enhance its competitive advantage. The total revenue of the SMMCI decreased as education inputs rose, but it increased along with increases in the number of employee and R&D inputs. Observed from the life cycle curve of the SMMCI, total revenue increased rapidly during the startup and growth stages, increased slowly during the maturity stage, and decreased during the decline stage. Finally, we put forward competitive advantage strategies and management suggestions for medical consumables enterprises (MCEs). We are the first to document the life cycle curve and competitive advantage strategies of the MCI, thereby contributing to the related literature.
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spelling pubmed-80035652021-03-28 Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle Chen, Jianxiong Yang, Chung-Cheng Int J Environ Res Public Health Article This study attempted to explore the competitive advantage strategies of the medical consumables industry (MCI) from the perspectives of human resources, research and development (R&D) and the industry life cycle. As one of the essential branches of modern medical device industry, the MCI has developed rapidly in recent years as global demand for medical consumables has shown continual growth, but it also faces market uncertainty. This study took Taiwan’s small/medium medical consumables enterprises (SMMCEs) as a sample, and used the translog revenue function to study the competitive advantage of the MCI through human resource and R&D investment strategies and the stage characteristics of the industry life cycle curve. The results showed that the various human resources and R&D expenses of the small/medium medical consumables industry (SMMCI) can interact with each other to influence total revenue and that the SMMCI needs more varied types of human resources to enhance its competitive advantage. The total revenue of the SMMCI decreased as education inputs rose, but it increased along with increases in the number of employee and R&D inputs. Observed from the life cycle curve of the SMMCI, total revenue increased rapidly during the startup and growth stages, increased slowly during the maturity stage, and decreased during the decline stage. Finally, we put forward competitive advantage strategies and management suggestions for medical consumables enterprises (MCEs). We are the first to document the life cycle curve and competitive advantage strategies of the MCI, thereby contributing to the related literature. MDPI 2021-03-19 /pmc/articles/PMC8003565/ /pubmed/33808638 http://dx.doi.org/10.3390/ijerph18063180 Text en © 2021 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (http://creativecommons.org/licenses/by/4.0/).
spellingShingle Article
Chen, Jianxiong
Yang, Chung-Cheng
Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle
title Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle
title_full Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle
title_fullStr Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle
title_full_unstemmed Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle
title_short Competitive Revenue Strategies in the Medical Consumables Industry: Evidence from Human Resources, Research and Development Expenses and Industry Life Cycle
title_sort competitive revenue strategies in the medical consumables industry: evidence from human resources, research and development expenses and industry life cycle
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8003565/
https://www.ncbi.nlm.nih.gov/pubmed/33808638
http://dx.doi.org/10.3390/ijerph18063180
work_keys_str_mv AT chenjianxiong competitiverevenuestrategiesinthemedicalconsumablesindustryevidencefromhumanresourcesresearchanddevelopmentexpensesandindustrylifecycle
AT yangchungcheng competitiverevenuestrategiesinthemedicalconsumablesindustryevidencefromhumanresourcesresearchanddevelopmentexpensesandindustrylifecycle