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Lundbeck Korea
108
Lundbeck Korea
Managing an international growth engine
Group 1
Catarina Silva
Liliana Neves
Luís Moreira
Mafalda Faria
Founded as a trading company by Hans Lundbeck
First office in Tokyo, Japan
Copenhagen Stock Exchange
Context
Lundbeck Foundation
Lundbeck Korea
1915
1954
2002
1969
1999
Lundbeck
Lundbeck
International pharmaceutical company headquartered in Denmark.
Manufacturing
Research
Development
Marketing
Sales
Distribution
Motivations to Internationalize
Motivations to Internationalize
Market Seeking
Market Seeking
"Seeing the importance of Asia for its long-term growth, Lundbeck decided in the late 1990s to set up wholly owned subsidiaries in each of its markets in Asia"
Resource Seeking
Resource Seeking
"As the firm grew in its global competency, it planned to seek new locations and partners for any aspect of the value chain that could offer better value in terms of quality, price, commodities, and labour."
Efficiency Seeking
Efficiency Seeking
"Lundbeck set up strong control systems to ensure that the company was to balance its results-focused mindset with exposure
to risk"
Modes of Entry
Incremental
Process
Process of Internationalization
Contractual modes
Investment
Uppsala Model
High
Wholly-owned subsidiaries
Licensing
Control over foreign activities
Low
High
Amount of resources commited to foreign market
Lundbeck
Born Global
“very good network of
relationships with psychiatrists”
Pharmaceutical Industry
Industry
Context
CAGE
I/R Framework
“complexity of the regulations surrounding exclusivity rights in Japan made it very difficult”
Administrative
Cultural
Geographic
CAGE
“mental disorders were not given high legitimacy in Asian societies like Korea”
“manufactured its products in Denmark and Italy”
Economic
“payer systems also varied greatly throughout Asia.”
Strategy and Organizational model
Strategy
Organization
Strategy and Organizational Model
Global
Centralised Hub
Type of Innovation
Center-for-Global
Local-for-Local
Subsidiary
Role
Lundbeck
Lundbeck Korea
Center for Global Risks
Misperception of market needs
Different markets might need different strategies
Make Central Innovations Effective
- Lundbeck is a centralized hub;
- We might use some strategies;
- Building of multiple linkages between the headquarters and subsidiaries;
- Create an integrative process;
- Move collaboration between subsidiaries.
Knowledge Management Strategy
Should Lundbeck Korea have a differenciated strategy?
Global
(Global Integration)
Strategy
International
(Home Replication)
Role of foreign subsidiaries
Implementing parent company competences
Adapting and leveraging parent company competences
Types of Knowledge
Explicit Knowledge
Tacit Knowledge
- Data
- Research
- Cultural