Mergers and acquisitions as strategies of business expansion in the pharmaceutical industry

Introduction: The present paper deals with the issue of the increasing usage of corporation mergers and acquisitions strategies within pharmaceutical industry environment. The aim is to identify the triggers of such business phenomenon and the immediate impact on the financial outcome of two powerful biopharmaceutical corporations: Pfizer and GlaxoSmithKline, which have been sampled due to their successful approach of the tactics in question. Materials and Methods: In order to create an overview of the development steps through mergers and acquisitions, the historical data of the two corporations has been consulted, from their official websites. The most relevant events were then associated with adequate information from the financial reports and statements of the two corporations indulged by web-based financial data providers. Results and Discussions: In the past few decades Pfizer and GlaxoSmithKline have purchased or merged with various companies in order to monopolize new markets, diversify products and services portfolios, survive and surpass competitors. The consequences proved to be positive although this approach implies certain capital availability. Conclusions: Results reveal the fact that, as far as the two sampled companies are concerned, acquisitions and mergers are reactions at the pressure of the highly competitive environment. Moreover, the continuous diversification of the market���s needs is also a consistent motive. However, the prevalence and the eminence of mergers and acquisition strategies are conditioned by the tender offer, the announcer���s caliber, research and development status and further other factors determined by the internal and external actors of the market.

O uso das redes sociais no recrutamento externo em empresas portuguesas

Este estudo tem como objetivo explorar o papel das redes sociais nos processos de recrutamento das organiza����es portuguesas. Em espec��fico, procura identificar os motivos que levam as organiza����es a recrutar atrav��s da internet e dos meios on-line ao dispor, nomedamente atrav��s das Redes Socais na Internet (RSIs), as vantagens e desvantagens da sua utiliza����o comparativamente com os m��todos tradicionais. Para a realiza����o do estudo foram selecionadas 5 empresas portuguesas que utilizam as redes sociais on-line para divulgar as suas ofertas de emprego, atrair e recrutar talentos. Foi utilizada a metodologia qualitativa, optando-se pelo estudo caso m��ltiplo e explorat��rio. O instrumento de recolha de informa����o foi a entrevista semiestruturada. Integraram este estudo 5 empresas de distintas ��reas de neg��cio e com a sua sede no distrito do Porto. No total, foram realizadas 5 entrevistas, uma a cada respons��vel pelos recursos humanos ou recrutamento das empresas em estudo. Um desses respons��veis ��, simultaneamente, o gerente da empresa. Os resultados sugerem que as empresas portuguesas, de forma gradual, come��am a aceder cada vez mais ��s redes sociais para apoiar os seus processos de recrutamento. No entanto, essa t��cnica de recrutamento ainda n��o �� utilizada de forma isolada nem substitui os m��todos tradicionais de recrutamento. Na parte final da disserta����o s��o discutidos os principais resultados obtidos e apresentadas as conclus��es do estudo aqui levado a cabo.

A import��ncia do contrato de compra e venda internacional de mercadorias pelo empresariado de Cabinda em Angola

Disserta����o de Mestrado apresentado ao Instituto Superior de Contabilidade e Administra����o do Porto para obten����o de grau de Mestre em Empreendedorismo e Internacionaliza����o, sob a orienta����o da Professora Doutora Manuela Maria Ribeiro da Silva Patr��cio

Sistema de monitoriza����o da qualidade e consumo de energia el��trica

A racionaliza����o do consumo de energia el��trica �� um tema que assume uma import��ncia crescente nos dias de hoje. O elevado consumo de energia, principalmente a n��vel comercial/industrial, tem motivado o aparecimento de quest��es pol��ticas, econ��mico-sociais e ambientais que visam a sensibiliza����o dos consumidores para a gest��o eficiente dos seus recursos. Neste sentido, as empresas e institui����es t��m demonstrado interesse em encontrar solu����es de gest��o nas suas instala����es el��tricas que permitam a monitoriza����o de indicadores e a previs��o de falhas cuja ocorr��ncia acarreta elevados custos de repara����o/substitui����o, de paragem de produ����o, entre outros. O estudo aqui apresentado surge no ��mbito de um projeto acad��mico, cuja finalidade se prende com a implementa����o de um sistema de monitoriza����o da qualidade e consumo de energia el��trica no Instituto Superior de Engenharia do Porto (ISEP). Baseado numa rede de dispositivos analisadores de par��metros de energia el��trica, estes equipamentos de medi����o disp��em de software pr��prio, o GridVis, que permite o acesso remoto, atrav��s de uma rede Ethernet, aos par��metros de energia (grandezas f��sicas el��tricas). O sistema desenvolvido �� capaz de identificar par��metros de consumo de energia an��malos e emitir alertas, pr��-programados em linguagem C++ e diagrama de blocos. Permite, por exemplo, detetar um consumo instant��neo excessivo de energia e alertar a sua ocorr��ncia. As p��ginas de acesso aos par��metros medidos por cada dispositivo s��o acess��veis atrav��s de uma interface gr��fica desenvolvida em Adobe Flash que inclui, de uma forma simples e organizada, a informa����o relativa �� distribui����o dos dispositivos de medi����o. Num contexto de expans��o deste projeto para outros edif��cios do ISEP, a solu����o desenvolvida encontra-se preparada para ser adaptada em qualquer local, desde que re��na certos requisitos.

Avalia����o do Desempenho Energ��tico e da Qualidade do Ar Interior do Edif��cio Principal do Parque Biol��gico de Vila Nova de Gaia

A presente disserta����o tem como principal prop��sito avaliar o desempenho energ��tico e a qualidade do ar interior do edif��cio principal do Parque Biol��gico de Vila Nova de Gaia (PBG). Para esse efeito, este estudo relaciona os termos definidos na legisla����o nacional em vigor at�� �� presente data, e referentes a esta ��rea de atua����o, em particular, os presentes no SCE, RSECE, RCCTE e RSECE-QAI. Para avaliar o desempenho energ��tico, procedeu-se numa primeira fase ao processo de auditoria no local e posteriormente �� realiza����o de uma simula����o din��mica detalhada, cuja modela����o do edif��cio foi feita com recurso ao software DesignBuilder. Ap��s a valida����o do modelo simulado, por verifica����o do desvio entre os consumos energ��ticos registados nas faturas e os calculados na simula����o, igual a 5,97%, foi poss��vel efetuar a desagrega����o dos consumos em percentagem pelos diferentes tipos de utiliza����es. Foi tamb��m poss��vel determinar os IEE real e nominal, correspondendo a 29,9 e 41.3 kgep/m2.ano, respetivamente, constatando-se atrav��s dos mesmos que o edif��cio ficaria dispensado de implementar um plano de racionaliza����o energ��tica (PRE) e que a classe energ��tica a atribuir �� a C. Contudo, foram apresentadas algumas medidas de poupan��a de energia, de modo a melhorar a efici��ncia energ��tica do edif��cio e reduzir a fatura associada. Destas destacam-se duas propostas, a primeira prop��e a altera����o do sistema de ilumina����o interior e exterior do edif��cio, conduzindo a uma redu����o no consumo de eletricidade de 47,5 MWh/ano, com um per��odo de retorno de investimento de 3,5 anos. A segunda est�� relacionada com a altera����o do sistema de produ����o de ��gua quente para o aquecimento central, atrav��s do incremento de uma caldeira a lenha ao sistema atual, que prev�� uma redu����o de 50 MWh no consumo de g��s natural e um per��odo de retorno de investimento de cerca de 4 anos. Na an��lise realizada �� qualidade do ar interior (QAI), os par��metros quantificados foram os exigidos legalmente, excetuando os microbiol��gicos. Deste modo, para os par��metros f��sicos, temperatura e humidade relativa, obtiveram-se os resultados m��dios de 19,7��C e 66,9%, respetivamente, ligeiramente abaixo do previsto na legisla����o (20,0��C no per��odo em que foi feita a medi����o, inverno). No que diz respeito aos par��metros qu��micos, os valores m��dios registados para as concentra����es de di��xido de carbono (CO2), mon��xido de carbono (CO), ozono (O3), formalde��do (HCHO), part��culas em suspens��o (PM10) e rad��o, foram iguais a 580 ppm, 0,2 ppm, 0,06 ppm, 0,01 ppm, 0,07 mg/m3 e 196 Bq/m3, respetivamente, verificando-se que est��o abaixo dos valores m��ximos de refer��ncia presentes no regulamento (984 ppm, 10,7 ppm, 0,10 ppm, 0,08 ppm, 0,15 mg/m3 e 400 Bq/m3). No entanto, o par��metro relativo aos compostos org��nicos vol��teis (COV) teve um valor m��dio igual a 0,84 ppm, bastante acima do valor m��ximo de refer��ncia (0,26 ppm). Neste caso, ter�� que ser realizada uma nova s��rie de medi����es utilizando meios cromatogr��ficos, para avaliar qual(ais) s��o o(s) agente(s) poluidor(es), de modo a eliminar ou atenuar as fontes de emiss��o.

Expatriates��� influence on knowledge sharing: an empirical study with International portuguese companies

Despite the abundant literature in knowledge management, few empirical studies have explored knowledge management in connection with international assignees. This phenomenon has a special relevance in the Portuguese context, since (a) there are no empirical studies concerning this issue that involves international Portuguese companies; (b) the national business reality is incipient as far as internationalisation is concerned, and; (c) the organisational and national culture presents characteristics that are distinctive from the most highly studied contexts (e.g., Asia, USA, Scandinavian countries, Spain, France, The Netherlands, Germany, England and Russia). We examine the role of expatriates in transfer and knowledge sharing within the Portuguese companies with operations abroad. We focus specifically on expatriates��� role on knowledge sharing connected to international Portuguese companies and our findings take into account organizational representatives��� and expatriates��� perspectives. Using a comparative case study approach, we examine how three main dimensions influence the role of expatriates in knowledge sharing among headquarters and their subsidiaries (types of international assignment, reasons for using expatriation and international assignment characteristics). Data were collected using semi���structured interviews to 30 Portuguese repatriates and 14 organizational representatives from seven Portuguese companies. The findings suggest that the reasons that lead Portuguese companies to expatriating employees are connected to: (1) business expansion needs; (2) control of international operations and; (3) transfer and knowledge sharing. Our study also shows that Portuguese companies use international assignments in order to positively respond to the increasingly decaying domestic market in the economic areas in which they operate. Evidence also reveals that expatriation is seen as a strategy to fulfill main organizational objectives through their expatriates (e.g., business internationalization, improvement of the coordination and control level of the units/subsidiaries abroad, replication of aspects of the home base, development and incorporation of new organizational techniques and processes). We also conclude that Portuguese companies have developed an International Human Resources Management strategy, based on an ethnocentric approach, typically associated with companies in early stages of internationalization, i.e., the authority and decision making are centered in the home base. Expatriates have a central role in transmitting culture and technical knowledge from company���s headquarters to the company���s branches. Based on the findings, the article will discuss in detail the main theoretical and managerial implications. Suggestions for further research will also be presented.

Bases de Dados NoSQL

Com o advento da inven����o do modelo relacional em 1970 por E.F.Codd, a forma como a informa����o era gerida numa base de dados foi totalmente revolucionada. Migrou���se de sistemas hier��rquicos baseados em ficheiros para uma base de dados relacional com tabelas rela����es e registos que simplificou em muito a gest��o da informa����o e levou muitas empresas a adotarem este modelo. O que E.F.Codd n��o previu foi o facto de que cada vez mais a informa����o que uma base de dados teria de armazenar fosse de propor����es gigantescas, nem que as solicita����es ��s bases de dados fossem da mesma ordem. Tudo isto veio a acontecer com a difus��o da internet que veio ligar todas as pessoas de qualquer parte do mundo que tivessem um computador. Com o n��mero de ades��es �� internet a crescer, o n��mero de sites que nela eram criados tamb��m cresceu (e ainda cresce exponencialmente). Os motores de busca que antigamente indexavam alguns sites por dia, atualmente indexam uns milh��es de sites por segundo e, mais recentemente as redes sociais tamb��m est��o a lidar com quantidades gigantescas de informa����o. Tanto os motores de busca como as redes sociais chegaram �� conclus��o que uma base de dados relacional n��o chega para gerir a enorme quantidade de informa����o que ambos produzem e como tal, foi necess��rio encontrar uma solu����o. Essa solu����o �� NoSQL e �� o assunto que esta tese vai tratar. O presente documento visa definir e apresentar o problema que as bases de dados relacionais t��m quando lidam com grandes volumes de dados, introduzir os limites do modelo relacional que s�� at�� h�� bem pouco tempo come��aram a ser evidenciados com o surgimento de movimentos, como o BigData, com o crescente n��mero de sites que surgem por dia e com o elevado n��mero de utilizadores das redes sociais. Ser�� tamb��m ilustrada a solu����o adotada at�� ao momento pelos grandes consumidores de dados de elevado volume, como o Google e o Facebook, enunciando as suas caracter��sticas vantagens, desvantagens e os demais conceitos ligados ao modelo NoSQL. A presente tese tenciona ainda demonstrar que o modelo NoSQL �� uma realidade usada em algumas empresas e quais as principias mudan��as a n��vel program��tico e as boas pr��ticas delas resultantes que o modelo NoSQL traz. Por fim esta tese termina com a explica����o de que NoSQL �� uma forma de implementar a persist��ncia de uma aplica����o que se inclui no novo modelo de persist��ncia da informa����o.

Strategic Drivers for Implementing Sustainability Programs in Portuguese Organizations��� Let���s Listen to Aristotle: From Triple to Quadruple Bottom Line

This article describes a study that investigated the main strategic drivers that influence the implementation of sustainability/social responsibility programs. An online survey was administered to managers of Portuguese organizations with certified management systems. The findings suggest that the implementation of such programs is mainly correlated to: 1.) the approach to understanding and working toward the satisfaction of the community���s needs (in the broad sense of social responsibility); 2.) how systematically sustainability within the organization is identified and managed (e.g., pollution prevention, improved environmental performance, and compliance with the applicable environmental laws); and 3.) the degree to which the organization tries to understand the needs of the employees and works toward satisfying them. In addition to the survey, five interviews with top managers of the surveyed organizations provided some useful insights. There was no consensus on the meaning of sustainability and social responsibility: some described it as an instrumental approach for obtaining better organizational results, while others regarded it as the right thing to do (i.e., it is values driven). In all cases, however, the managers supported a kind of umbrella construct under which different size corporations use different models (for example, the Dow Jones Sustainability Index (DJSI), Global Reporting Initiative (GRI), ISO 14001 environmental management systems), although some managers reported that they simply do not know what to do. All of those surveyed agreed that the lack of a systematic approach could represent a major threat to their organization, making them willing to pay more attention and take more action on the issue of sustainability. An additional suggestion made by managers was to change from a triple bottom line (economic dimension, environmental dimension, social equity dimension) to a quadruple bottom line by adding another dimension: personal and family happiness. This fourth dimension was recognized by the Greek philosopher/thinker Aristotle (384-322 BCE) who thought of happiness as the highest good (virtue) and ultimate goal and purpose of life, achieved through living well, in harmony. Such harmony suggests a balance and a lack of excess���in other words a sustainable existence.

The relationship between knowledge acquisition on international assignments and career development: an exploratory study with portuguese repatriates

This paper explores the relationship between the expatriates��� knowledge acquisition (KA) and their career development after an international assignment (IA). The purpose of this paper is to examine the role of expatriates in KA and transfer within International Portuguese multinational corporations. Furthermore, with this empirical study we try to analyse how the knowledge that is acquired and transferred translates into a basis for career development after the IA. This phenomenon has a special relevance in the Portuguese context, because this country is known a growing process of globalization in recent years. Furthermore, (a) there are no empirical studies concerning knowledge transfer and career development of repatriates from Portuguese companies; (b) little is known about the repatriates��� contributions to their home company after IA. This paper is one of the first to focus specifically on the repatriates��� role in KA and transfer from the host company to their Portuguese home company. A qualitative research methodology is used, specifically through an exploratory case study approach, which examines how knowledge management (KM) acquisition or transferring during IA are important for the repatriates��� career development in the Portuguese home company. Data were collected through semi-structured interviews to 42 Portuguese international assignees and 18 organizational representatives from nine Portuguese companies. Preliminary results show that KA and transfer made by Portuguese expatriates contributes directly to their career development. Moreover, evidence reveals that not all repatriates were promoted after their IA; rather some repatriates were even demoted after their IA. Furthermore, the results obtained suggest that the type of knowledge which acquired or transferred plays a central role in the career development after repatriation. According to these results, the paper discusses the major theoretical and practical implications. Suggestions for future research are also presented.