Title: The Inspiration of I Ching Philosophy for the Entrepreneurial Process in the Biomedical and Biotechnology Industry
Stream: Economics and Management
Presentation Type: Oral Presentation
Authors:
Chiaying Liao, Weixin Shengjiao College, Taiwan
Abstract:
This study centers on Taiwan’s medical biotechnology industry and explores the roles of ethical, humanistic, and spiritual values in medical entrepreneurship. Drawing on the researcher’s lived experience of entering medical biotechnology entrepreneurship following her father’s illness and passing, the study adopts I Ching thought as its theoretical lens to reflect on the entrepreneurial process within the medical biotechnology sector. In contrast to conventional entrepreneurship theories, this research argues that entrepreneurial decision-making and corporate sustainability in the medical biotechnology industry are deeply influenced by spiritual motivation and ethical values. By interpreting the I Ching principles of change, balance, and responsibility, this study analyzes how medical biotechnology entrepreneurs dynamically reconcile economic efficiency with humanistic care, thereby addressing a theoretical gap in people-centered management practices within the contemporary medical biotechnology industry. Methodologically, this research integrates literature analysis and narrative inquiry to construct a medical biotechnology entrepreneurship framework oriented toward innovation, ethics, and sustainability. The findings demonstrate that I Ching thought provides a meaningful interpretive approach for understanding ethical decision-making and long-term strategic management in the medical biotechnology industry, supplementing the insufficient attention given to humanistic and spiritual dimensions in existing entrepreneurship and management research. Accordingly, this study offers medical biotechnology entrepreneurs a new ethical entrepreneurial perspective that balances business innovation with moral responsibility, with the aim of fostering a more sustainable and ethically grounded development of the medical biotechnology industry.
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