(PDF) Business information systems assignment
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Added on 2021-04-21
(PDF) Business information systems assignment
Added on 2021-04-21
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Running head: BUSINESS INFORMATION SYSTEMS Business Information Systems[A Case study: GlaxoSmithKline]Name of the student:Name of the university:Author note:
1BUSINESS INFORMATION SYSTEMSTable of ContentsIntroduction:....................................................................................................................................2Definition of the term “crowdfunding” in context to the case study:..............................................2Analysing the Glaxo's approach:.....................................................................................................3Role of social media platforms in supporting the initiative and identifying ways through whichinformation could be shared:...........................................................................................................5Role of information systems play in facilitating this type of research:...........................................7Conclusion:......................................................................................................................................8References:......................................................................................................................................9
2BUSINESS INFORMATION SYSTEMSIntroduction:Intellectual capital is critical to a specific business. In the likewise way, it is also veryimportant for pharmaceutical companies. Intellectual capital may include but is not limited tolike patents, best practices and trademarks. A curing formulation is considered as successfulwhen it effectively passes through the research and development (R&D) process and also clearsthe trial-and-error process. Afterwards, an approval from the Food and Drug Administration(FDA) is required before the cure is actually made available to the common public (Jorde et al.,2014). The study is in a context of the decision made by GlaxoSmithKline to make itsintellectual capital on 13, 500 compounds available to the public. The decision is bit shocking tothe world considering the fact that pharmaceutical companies guard their formulation ofchemical compound from others. Other firms using the leaked chemical compounds can evenmake billions of dollars of revenues (Griffith, Miller & O'Connell, 2014). The main purpose ofthis study is to analyse the approach of GlaxoSmithKline and also understanding how socialmedia platforms & information systems could contribute to such initiatives. Definition of the term “crowdfunding” in context to the case study:Crowdfunding from scholarly views can be defined as a process through which foundersof for-profit, cultural ventures, and artistic put their efforts in attracting minimum contributionfrom a large number of individual. Attraction is constructed with the help of internet and otheradvanced technologies like the social media platforms (Mollick, 2014). According to Hui,Greenberg & Gerber (2014), crowdfunding provides a good opportunity for entrepreneurs inregards to launching of ventures without much relying on the traditional mechanism of funding.
3BUSINESS INFORMATION SYSTEMSIn the opinion of Mollick & Robb (2016), crowdfunding democratise the commercialisation ofinnovation. It means that innovation can be attained by a collective effort of the mass population.The definition of crowdfunding in the context of the given case study is very much thesimilar as defined by (Mollick & Robb, 2016). Crowdfunding in regards to the given case studyis a mean to attract a mass population and take a part in the commercialisation of innovation. Thebases of innovation is being laid by the case study company GlaxoSmithKline as it has made 13,500 compoundsavailable to the public. The reason for switching to the process as communicatedby the case company was its incapability to conduct a successful research in finding the cure formalaria. The term incapability may not be appropriately true because GlaxoSmithKline hasprobably moved to the decision due to the fact that cure to malaria will not yield billions ofdollars. Hence, it is of no mean for them to invest so much in investigating the chemicalcompound appropriate to the cure of malaria (Liu & Jiang, 2016). Analysing the Glaxo's approach:The approach selected by Glaxo is bit confusing from several perspectives. From theethical perspective, such decision should never be made. This can be understood from thetheory of intellectual property. Theory of intellectual property is further divided into severalschools of beliefs like Natural Right theory: Labour Theory (Locke’s Theory), Utilitarian Theoryand Personality Theory (Drahos, 2016). Locke’s theory states that a person has all the right tokeep its property secured as these are just the creation of their mind. This need also be donebecause they own creation of effort that they put on something. According to the PersonalityTheory, a person must own their creation or the intellectual property, so that, they grow bigger in
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