Evaluation of value creation chain improvement in the biotechnology sector in the context of the circular economy

Abstract

In the modern world of technology, quickly evolving science of biotechnology is making a big difference. The wide application of biotechnology science allows for the creation of innovations in business and the improvement of already developed technologies. The main indicator of a competitive company is the quality of the supplied products thus it is vital to create an efficient product value chain that would not only improve the quality of products, but also increase the effectiveness of production activities. The aim of the article is to review the concept of biotechnology and its classification in manifold scientific literature, to summarize theoretical models of value chain improvement as well as, based on scientific sources, statistics and their analysis, to explore the factors influencing value chain improvement in biotechnology organizations. The first part of the article describes the biotechnology segment and its specificity, analyses the theoretical value creation models, their characteristics and application. The second part describes and details the selected research method. The third part of the article investigates the aspects that improve value chains in biotechnology companies.