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Many top market capitalization companies are information technology (IT) firms, including Apple, Google, Microsoft, and Facebook, each of which is valued at more than $300 billion. Facebook is less than 10 years old and is one of the top 10 companies in the world in terms of market capitalization. However, technologies change rapidly; website revenue—which once grew at a brisk rate—has slowed down, while mobile technology growth is increasing and technology trends are shifting toward cloud hosting and big data analytics. IT companies that have increased their R&D spending remain leaders throughout periods of technology change. Companies such as Facebook and Google have doubled and tripled their profits, respectively over` the past decade. In this dynamic environment, analysts play a critical role in evaluating IT company financial statements and estimating company sales and earnings per share (EPS). This study examines how changes in R&D spending are related to analysts’ sales and earnings estimate revisions. An analysis of data over a 20-year period shows that analysts typically revise their sales estimates based on changes in a company’s R&D expenditures. The correlation between analyst earnings estimates and R&D expenditures, however, varies based on company size and industry within the IT sector. Analysts play a particularly important role in small companies, where the correlation between R&D and sales changes is not as high as in large companies. Analysts are thus critical to the functioning of capital markets in the IT sector.

In the contemporary world that undergoes constant changes, theatre is changing with certain pace as well. It is only natural as it is an integrant, inseparable part of the society and its make-up. New theatre groups are being established ? some of them last longer and turn into steady regulars on the stage, others are more short-lived due to a variety of factors (art, financial or personal ones). The development of the groups in question could help us outline some of the current tendencies in the theatre world and could contribute to getting a broader and fuller understanding of it.

nÃo hà / Neste estudo percorreu-se rapidamente a histÃria recente da indÃstria farmacÃutica brasileira para poder-se ocupar da observaÃÃo de sua conjuntura atual no que se refere à Pesquisa & Desenvolvimento, tendo a InovaÃÃo como foco principal e o suporte das estruturas de Marketing como propulsoras de sua expansÃo. Foram estudados artigos, revistas, entrevistas, grÃficos, estatÃsticas e avaliaÃÃes levadas a pÃblico ao longo dos Ãltimos seis anos, nos diversos meios de comunicaÃÃo escrita do Brasil, acerca do panorama geral da indÃstria farmacÃutica brasileira e mundial. Buscou-se interpretar as tendÃncias atuais de administraÃÃo interna das empresas, avaliando-se a reaÃÃo da indÃstria farmacÃutica nacional frente Ãs fusÃes entre as multinacionais, formando grandes conglomerados farmacÃuticos. Buscou-se tambÃm estabelecer a importÃncia da legislaÃÃo e farmacovigilÃncia nacionais, nÃo sà a partir de seu papel normativo, mas tambÃm seu papel fiscalizador. A acirrada convivÃncia dos mercados e instituiÃÃes transnacionais obriga as naÃÃes a desenvolverem estratÃgias personalizadas, mas que representem potenciais interesses do consumo mundial. No Brasil, a biodiversidade Ãnica no planeta à a principal chave para o desenvolvimento da indÃstria farmoquÃmica nacional e, para que se possa competir internacionalmente, a cadeia produtiva do setor, necessita defender algumas causas prioritÃrias para o equacionamento da questÃo, como a âPropriedade Intelectualâ, pois sem um sistema legal que garanta o retorno dos gigantescos recursos aplicados na criaÃÃo de novos produtos e no financiamento da estrutura de Pesquisa & Desenvolvimento haverà pouca ou nenhuma chance de marcar e expandir a presenÃa com substÃncias genuinamente brasileiras mundo afora. Para que a biodiversidade de nosso territÃrio possa transformar-se em sinÃnimo de saÃde e divisas ao povo, aos laboratÃrios e cofres brasileiros, alÃm de aprimorar o sistema legal que envolve a cadeia produtiva dos farmoquÃmicos necessita-se tambÃm, vislumbrar sobre as metodologias para o estabelecimento de parcerias com a Universidade, atravÃs da difusÃo da âSistematizaÃÃo da Pesquisa & Desenvolvimento voltada para LaboratÃrios FarmacÃuticos e a consequente ImplantaÃÃo e GestÃo de seus Sistemas de Qualidade: os caminhos a serem seguidos para integrar e atingir a expansÃo desse mercadoâ / In this investigation, we briefly evaluated the recent history of Brazilian Pharmaceutical Industry to examine the actual insight of its Research and Development, considering the innovation as its primary focus and the support of its Marketing networks primarily functioning as propeller for its growth. We critically evaluated published articles, periodicals, interviews, graphs including statistical data, and reports that were published in the past 6 years in numerous Brazilian publications concerning Brazilian and World Pharmaceutical Industry. We considered the actual tendencies of the pharmaceutical industry, i.e., a companyâs internal administration, evaluating the response of the national pharmaceutical industry to the consolidation of multinationals companies resulting in large pharmaceutical conglomerates. In addition, we attempted to establish the influence of the national legislation including Pharmacosurveillance, not only considering their normative function, but also its fiscal control. The strong relation, if not association, between the markets and international institutions force the nations to develop their own strategies that comply with the potential interest as it relates to worldwide consumption. Brazil, recognized as the single biodiversity on the planet is the main key for the national pharmaceutical and chemical industry development. When one looks for an advantage in international competition, it is necessary to assess some priorities in the production chain such as the issue of Intellectual Property, among others, since without a legal system that assures the returns on extraordinary funds invested in new products development as well as to finance the machinery of the Research & Development Departments; we will have limited or no chance to be present and to grow worldwide with genuine Brazilian substances/products. Additionally, in order to transform our biodiversity in health and exchange value to our people, laboratories, and to the Brazilian investment (funds), besides the refinement of the legal system that involves the pharmaceuticals and chemicals production chain, we need to acquire methodologies to establish University-Industry partnerships through the diffusion of the: âSystematization of Research & Development applied to pharmaceutical companies and the consequent Implantation and management of their Quality Systems: the steps to be followed to integrate and grow in this marketâ

Problem: Several extant studies argue that family firm tend to invest less or even tend to avoidR&D investments, yet R&D investments are essential for sustaining competitive advantage of afirm as they facilitate innovation. Nevertheless, under certain circumstances family firms couldalso prefer R&D investments. Departing from these knowledge and drawing upon resource-basedview & dynamic capabilities concepts, this thesis will explore how family firms perceive R&Dinvestments, furthermore, it will investigate factors influencing R&D investments in family firmsthrough an in-depth qualitative approach. Purpose: To explore how family firms perceive R&D investments in the first place by utilizingSwedish family firms as the context which is aimed to provide a new viewpoint on R&Dinvestments in family firms from an in-depth approach. Furthermore, the study extends toinvestigate factors which have influence on whether or not family firms undertake R&Dinvestments Method: The study applies multiple case studies strategy with six cases in total and eightrespondents. To support the study, semi-structured interview is used to collect the data, inaddition to researcher's note. The analysis of empirical findings comprises of two parts, firstly,the empirical findings are presented per case which are followed by the summary of findings fromall cases at the end based on the theoretical lenses. Afterward, a cross-case analysis is conductedto observe emerging patterns which are used to further adapt the preliminary conceptualframework made from frame of references. Conclusions: Family firms according to their views on R&D could be divided into two groups.The first group consists of the firms without a dedicated R&D focus or firms that perceive R&D asembedded activity, while the latter is the firms with dedicated R&D focus. According to the waysthey perceive R&D, they subsequently put different emphasis on R&D investments. The firstgroup is rather reactive toward R&D, while the latter group is more proactive. These differencescould be explained by the internal and external influences (factors) which are found through theuse of resource-based view and dynamic capabilities. The internal factors are specialization,organizational culture and family history, while the external ones are trends and competition.Trends and specialization are found in almost all cases, and they explain the early engagement(without dedicated focus) of R&D in the firms. However, unlike trends, specialization mightpotentially lead to negative propensity toward R&D investments because of the competitiveadvantage gained from being specialized and knowledgeable in certain area. However, whencompetition comes into play, it might shift the circumstance by encouraging the firm to leave its“comfort zone”, thus would encourage R&D endeavors, in particular R&D investments especiallywhen the firm aims to lead in the market. Meanwhile, organizational culture could also be acatalyst for firms to focus on R&D, but it is very dependent on the culture instilled in the firmwhether or not it would encourage R&D. Firms with risk aversion, as suggested by literature andalso found in one of the cases would distance the firm from R&D investments. On the other hand,firms that show continuous learning and failure tolerating within their culture tend to put morefocus on R&D. And the last one, family history, which is found in three cases suggest a positiveinfluence toward R&D investments. The inventive behavior of the founder or former generationsis implanted in the family history, and being preserved by the current generations as corporateidentity or guiding values, of which contribute positively toward R&D investments in the firm.

Planned obsolescence refers to the situation where a company has too high an incentive to create a new product that renders the old durable goods non-compatible or obsolete. Does this incentive persist when the firm can choose what quality level the new product has, instead of simply introducing a new product of a given improved quality? Assuming the outcome of innovation is quality increase in next periods, this dissertation focuses on the effect of planned obsolescence in relation to a monopolist’s R&D investment and quality choices. The monopolist is not choosing whether or not to introduce a new product, but rather how much quality the new product should have, or in other words, how long the continuous R&D investment should last. When a minor evolution (i.e. lower quality improvement) and a major revolution (i.e. higher quality improvement) of durable goods are mutually exclusive, for a certain range of R&D investment cost, a monopolist is found to have too low an incentive to introduce the major revolution. This situation is defined as planned obsolescence of quality. The reason for such a behavior is time inconsistency, i.e. a monopolist’s failure to commit to its original profit-maximizing quality strategy once it enters the latter stage of the game. However if evaluated from a social planner’s perspective, planned obsolescence of quality, or the lack of commitment, turns out to be beneficial in alleviating the problem of socially excessive quality at least partially. Once it can be perceived that the monopolist will not commit to its original optimal quality choice, a new discrepancy would emerge between the monopolist and a social planner. It is still beneficial for a social planner to intervene for certain ranges of R&D investment cost. Under such circumstances, R&D subsidies may be considered to induce the monopolist to move out of the range of discrepancy, provided that the gain in social welfare is larger than the cost of subsidy. This cost is smaller when the monopolist’s marginal production cost is smaller. / acase@tulane.edu

Nowadays, world-wide enterprises have a new situation after the financial crisis in 2008. Environment faced by the enterprises is so sinister that a small mistake may bring fatal collapse. Business strategy becomes an important issue. The business strategy is used to guide the organization and people to the business vision and goals. It makes shareholders, customers, and members know why the enterprise exists, for what and whom they are fighting. Therefore, the first step of the ¡§business strategy management¡¨ is to construct the ¡§business strategy architecture. Business strategy architecture integrates multiple views of an enterprise to achieve the business strategy synergy. Strategy map uses text, graphics, and process-oriented languages to describe the business strategy. However, using these languages to express the business strategy will result in great difficulties of strategy implementation and resources distribution. Because the strategy map is a process-oriented model, it cares more on the organization behavior view and can not integrate with the organization structure view. In this study, we develop an Architecture-Oriented Research & Development Laboratory Business Strategy Model (AORDLBSM) which is based on the six fundamental diagrams of Structure-Behavior Coalescence (SBC) Architecture. AORDLBSM improves the strategy map model in integrating the structure and behavior views. The results of the study show that AORDLBSM is a macro to the micro, from whole to part of the strategy thinking. AORDLBSM integrates organization structure and organization behavior so tightly that it is able to transform implicit knowledge into explicit knowledge. We conclude that AORDLBSM is a description tool that can transform the abstract concept into a real system that enables the organization and people accomplish strategies successfully.

Practices of Human Resource Management for R&D Department of IT Industries Yu-Chen Chen Abstract High-Tech Industries play an important role to Taiwan¡¦s economic development over recent years. The innovation & technology enhancement of research & development department become the core competitiveness of high-tech enterprises. This paper aims at probing into the human resource management for R&D department for an integrated conclusion of which offers the best practice reference in R&D, and then to strengthen the advantageous position of Taiwan high-tech industries in the worldwide market. This paper focuses on: 1. Investigating for the ways of organization & management of R&D department, and the efficiency it brings by the human resource strategies and policies. If there¡¦s any difference or common features of human resource measures to fit in with high-tech industries, and that takes good effect upon R&D department¡¦s performance. 2. Research into R&D organizations for what are the existing HR systems? What is the HR role expected from R&D talents? The necessity of competency enhancement of R&D professionals to cope with business growth. Drawing a conclusion to collect the executives in the case companies with good HR management styles tailored to R&D professionals¡¦ needs. 3. With the characteristics of short-life cycle, high complexity and changeable technology, how the interaction it would be between R&D talents and the people implicated internal and external of enterprises. What are the must adjustments of R&D people to get with reality challenges? And finding the collaboration between departments of human resource and R&D to move up productivity & competitiveness. Keywords: high-tech industries, department of research & development, innovation, human resources practices.

Semiconductor industry, especially IC manafacture has been one of the most important high-tech industries in Taiwan since 1970¡¦s. The first professional wafer Fab, called ¡§wafer labor¡¨, was build up in Taiwan and has currently gained more than 60% market share in the wafer market of the world. This kind of industry is usually characterized as ¡§capital intensity¡¨, ¡§technology intensity¡¨ and ¡§short productive life cycle¡¨. Along with the innovation of technology and the internationalization of industry, more and more enterprises have been engaged in the fierce and intensive competition in all senses. Consequently, all of them have to possibly renew and modify their products, facilities and technologies with their limited resources so as to find their own way of making profits constantly. A correct investment decision not only contributes to the constant growth of enterprises, but also helps push up the industrial competitive capacity. Therefore, in the current project, I will try to work out an appropriate method for making investment policy. My concern will basically focuses on the distribution proportion of capital by arguing that the capacity expansion expenditures and research & development expenses are supposed to be included in the capital expenditures of wafer labor industry. However, with regard to the appropriateness of this project, I will also take the so-called ¡§dynamic complexity¡¨ into consideration, which is usually characterized by the phenomena of ¡§Information feedback¡¨, ¡§Time delay¡¨ and ¡§Non-linearity¡¨. If the capital is limited, the relationship between capacity expansion expenditures and research & development expenses are supposed to be definied as a ¡§trade-off¡¨ relationship. The increase of one side will lead to the decrease of the other side and finally leads to in the reduction in profits. Due to the capacity of System Dynamics for sloving the problem of dynamic complexity (Forrester, 1961), I will adopt System Dynamics as the main research method in the current project and to work out an appropriate method for making wafer labor industrial policy. By taking the capital distribution into consideration, I will try to construct a possibly appropriate investment model and herewith make some remarks or suggestions for the investment policy. Some research results will be displayed in the current project: 1. In any case, there is a certain distribution proportion which optimizes the entire profits. The task is to simulate an appropriate one respectively for different scenarios. 2. The increase in the proportion of research & development expenses might lead to the reduction of profits. 3. By using this model, the enterprise can find out the most appropriate policy for distributing the capital and achieving their maximal profit.