The CEE Generics Pharmaceutical Sector: Ways to Minimise Cultural Heritage Barriers to Mergers and Acquisitions
Mergers and acquisitions (M&As), which became extremely common in the branded industry in the 1990s, have recently seen a parallel development in the generics medicines industry. However, generics M&As are more susceptible to impact from cultural barriers. These may become apparent post merger, but can also dramatically affect the success of the negotiations. The reasons for this are discussed and several proposals are made for risk reduction through recognising the importance of the culture differences in play and taking adequate measures to reduce their impact.
Mergers and Acquisitions: Managing Culture and Human Resources
Roughly 20 years ago, Business Week (Prokesch et al., 1985) ran a cover story questioning whether mergers “really worked,” focusing on the extent to which the organizational combination strategy actually enhanced such desired outcomes as market share, profitability, and shareholder value. The analysts’ conclusion was “not very often.” During the subsequent two decades there has been a literal avalanche of work, by scholars and practitioners alike, delving into the nuances, subtleties, and dynamics underlying the merger and acquisition (M&A) process, with an eye toward enhancing our understanding of this complex strategy and improving M&A performance. The literature is too voluminous to even reasonably cite, but a few oft-noted works include Buono and Bowditch (1989), Haspeslagh and Jemison (1991), Hitt, Harrison, and Ireland (2001), Jemison and Sitkin (1986), Mirvis and Marks (1992) and Schweiger (2002). Yet despite all of this work and related intervention, a recent Business Week cover story (Henry and Jespersen, 2002) reached essentially the same conclusion as its 1985 counterpart, pointing out that M&As continue to wreak havoc on organizations, often destroying shareholder value in the process.
Determination of Optimal Ball-Burnishing Parameters for Plastic Injection Moulding Steel
The objective of this study is to determine the optimal plane ball-burnishing parameters for plastic injection moulding steel PDS5 on a machining centre by utilising the Taguchi’s orthogonal array method. The design and manufacture of a burnishing tool are described. Four burnishing parameters, namely the ball material, burnishing speed, burnishing force and feed, were selected as the experimental factors in Taguchi’s design of experiments to determine the optimal burnishing parameters which have the dominant influence on surface roughness. The optimal burnishing parameters were found after carrying out the experiments specified by Taguchi’s L18 orthogonal table, by the analysis of variation, and by a full factorial experiment. The optimal plane burnishing parameters for the plastic injection moulding steel PDS5 were a combination of a tungsten carbide ball, a burnishing speed of 200 mm/min, a burnishing force of 300 N and a feed of 40 μm. The surface roughness Ra of the specimen can be improved from about 1 μm to 0.07 μm by using the optimal burnishing parameters for plane burnishing.