Conselho Nacional de Desenvolvimento Científico e Tecnológico / The gibberellic acid (GA3) is a natural hormone found in some plants, this hormone has been used in agricultural formulations, as growth regulator, highly relevance both economic and industrial. Currently, its industrial scale production is achieved by Submerged Fermentation (SF) using the fungus Gibberella fujikuroi. The main problem in the industrial process is related to the low yield of GA3, causing the purification process presents high costs. An alternative to this process is the Solid- State Fermentation (SSF) that allows to obtain higher concentrations of this product. The greatest advantage of the SSF front SF is related to increased production of GA3 using low cost substrates such as waste and by-products of agroindustry. Given the fact that Brazil is highlighted as one of the most prosperous countries in terms of agricultural production, and the Rio Grande do Sul accounts for about 30-40% of rice and barley production in the country, this research evaluated the use of Raw Rice Bran (RRB) and Wet Brewery Waste (WBW), rice processing and brewing industry residues, as substrates for GA3 production by the fungus Gibberella fujikuroi. Two experimental designs, a linear type 2n and CCRD, both for two variables were performed. The first design evaluated, on three levels, evaluated the effect of moisture content in the range of 50 to 70%, and the composition of the medium, with RRB content ranging from 30 to 70% of the total substrate mass (RRB and WBW mass). In turn, the second planning in 5 levels, evaluated the effect of the addition of glucose, the carbon source over the range 0 to 80 g/L, and ammonium nitrate (NH4NO3), the nitrogen source, in the range 0 - 5 g/L, by making use of the best conditions of the first planning. It was found that, for seven days of fermentation, the greater yield for the first research proposed, was at the test carried out with medium composition of 30% RRB and 70% WBW and moisture content equals 70%. At the second design It was observed that the highest concentration of NH4NO3 favored the formation of GA3 by the fungus, towards intermediate value to the glucose content. Finally, investigation of the kinetic behavior showed an increase in production of GA3, with the peak on the seventh day with maximal production of 10,10 g/kg of substrate, and subsequent tendency for stabilization. / O ácido giberélico (GA3) é um hormônio natural presente em algumas plantas, sendo empregado em formulações agrícolas como regulador de crescimento, apresentando grande importância econômica e industrial. Atualmente, sua produção em escala industrial é realizada por fermentação submersa (FSub) empregando o fungo Gibberella fujikuroi. O maior problema no processo submerso está relacionado aos baixos rendimentos de GA3, fazendo com que o processo de purificação apresente elevados custos. Uma alternativa a este processo é a fermentação em estado sólido (FES) que permite a obtenção deste produto em concentrações maiores. A maior vantagem da FES frente à FSub está relacionada à maior produção de GA3 empregando substratos de baixo custo, como por exemplo, resíduos e subprodutos da agroindústria. Dado o fato de que o Brasil é destacado como um dos mais prósperos países em termos da produção agrícola, e que o Rio Grande do Sul é responsável por cerca de 30 a 40% da produção de arroz e cevada, no país, avaliou-se a utilização de Farelo de Arroz Bruto (FAB) e Resíduo de Cervejaria Úmido (RCU), resíduos do processamento de arroz e da indústria cervejeira, como substratos para a produção de GA3 pelo fungo Gibberella fujikuroi. Foram realizados dois planejamentos experimentais, linear do tipo 2n e DCCR, ambos para duas variáveis. O primeiro planejamento, em três níveis, avaliou o efeito da umidade, na faixa de 50 a 70%, e a composição do meio, com o teor de FAB variando entre 30 e 70% do total de massa do substrato (massa de FAB e de RCU). Por sua vez, o segundo planejamento, em 5 níveis, avaliou o efeito da adição de glicose, fonte de carbono na faixa de 0 a 80 g/L, e do Nitrato de Amônio (NH4NO3), fonte de nitrogênio, na faixa entre 0 a 5 g/L, na produtividade de GA3, fazendo uso das melhores condições do primeiro planejamento. Foi verificado que, para sete dias de fermentação, o maior rendimento obtido, para a primeira investigação proposta, foi no ensaio realizado com composição do meio 30% FAB e 70% RCU e umidade do meio de 70%. No segundo planejamento constatou-se que a maior concentração de NH4NO3 favoreceu a formação de GA3 pelo fungo, para um valor intermediário do teor de glicose. Por fim, a investigação da cinética demonstrou um comportamento de crescimento na produção de GA3, com o pico no sétimo dia, com produção máxima de 10,10 g/Kg de substrato, e posterior tendência à estabilização.

The microbrewery industry is the fastest growing industry in Sweden. In seven years, the industry has grown by 832 percent. The dramatic increase of microbreweries has led to a highly competitive business environment for these entrepreneurs. This calls for microbreweries to develop strategies for how to stand out in this increasingly competitive environment, i.e., create competitive advantages. However, previous studies have shown that craft entrepreneurs do not strive to achieve traditional economic objectives as the competitive strategy research field suggest that companies have. Hence, traditional competitive strategies may not be applicable for these entrepreneurs. The purpose of this study was therefore to develop an understanding how motivational factors affect craft entrepreneurs’ competitive strategy. To fulfill the purpose, we conducted a case study on microbrewers within the northern region of Sweden. We used a qualitative research methodology where we conducted semi-structured interviews. Seven microbreweries participated in the study. We found that craft entrepreneurs’ motivations for why they started and maintained their microbreweries were mainly because of their passion and interest for the craft and therefore this was their primary objective. However, they perceived profit as a necessity that would enable them to achieve their primary objective. Therefore, we found that these entrepreneurs have dual objectives. We also found that entrepreneurs’ motivations affected their competitive strategies. These entrepreneur’s dual objectives caused some dilemmas when the two objectives contrasted each other. We saw tendencies that this created tension among these entrepreneurs when they had to balance the two objectives of generating profit and achieving objectives related to their passion and interest for the craft. Further, we found that these tensions caused implications on the entrepreneurs’ perception of competitive strategy.  Their perception of competitive strategy differed from traditional theory in three areas. Firstly, they had a resistance to grow their businesses. Secondly, they had a resistance for product/market development. And lastly, they experienced a low level of ambiguity when competing and cooperating simultaneously. In this study, we have been able to deepen the knowledge of craft entrepreneurs and how their motivations affect their competitive strategy. This is a first step in developing an understanding of how additional objectives to profit can cause implications for competitiveness.

Este trabalho aborda o problema multiestágio de planejamento e programação da produção em indústrias cervejeiras. O processo de fabricação de cerveja pode ser dividido em duas etapas principais: preparação do líquido e envase. A primeira etapa ocorre, na maior parte do tempo, dentro de tanques de fermentação e maturação. A segunda ocorre nas linhas de envase, podendo ter início assim que o líquido estiver pronto nos tanques. O tempo de preparação do líquido demora vários dias, enquanto que na maioria das indústrias de bebidas carbonatadas este tempo é de no máximo algumas horas. O objetivo deste estudo é obter planos de produção viáveis que visam otimizar as decisões de programação envolvidas nestes processos. Visitas a cervejarias no Brasil e em Portugal foram realizadas para uma maior familiaridade do processo de produção e dados foram coletados. Modelos de programação inteira mista para representar o problema foram desenvolvidos, baseados em abordagens CSLP (The Continuous Setup Lot-Sizing Problem), GLSP (General Lot Sizing and Scheduling Problem), SPL (Simple Plant Location Problem) e ATSP (Asymmetric Travelling Salesman Problem). Os resultados mostram que os modelos são coerentes e representam adequadamente o problema, entretanto, mostram-se difíceis de serem resolvidos na otimalidade. Esta dificuldade de resolução dos modelos motivou o desenvolvimento de procedimentos MIP-heurísticos, como também de uma metaheurística GRASP (Greedy Randomized Adaptive Search Procedure). As soluções obtidas pelos procedimentos heurísticos são de boa qualidade, quando comparadas ao melhor limitante inferior encontrado por meio da resolução dos modelos matemáticos. Os testes computacionais foram realizados utilizando instâncias geradas com base em dados reais. / This study deals with the multistage lot-sizing and scheduling problem in breweries. The brewing process can be divided into two main stages: preparation and filling of the liquid. The first stage occurs most of the time in fermentation and maturation tanks. The second stage occurs in the filling lines and it can start as soon as the liquid gets ready. The preparation time of the liquid takes several days, while in the carbonated beverage industries this time is at most a few hours. The purpose of this study is to obtain feasible production plans aimed at optimizing the decisions involved in these processes. Visits to brewery industries in Brazil and Portugal were held to a greater familiarity of the production process and data were collected. Mixed integer programming models have been developed to represent the problem, based on approaches for the CSLP (The Continuous Setup Lot-Sizing Problem), GLSP (General Lot Sizing and Scheduling Problem), SPL (Simple Plant Location Problem) and ATSP (Asymmetric Travelling Salesman Problem). The results show that the models are consistent and adequately represent the problem; however, they are difficult to be solved at optimality. This motivated the development of MIP-heuristic procedures, as well as a meta-heuristic GRASP (Greedy Randomized Adaptive Search Procedure). The obtained solutions by the heuristics are of good quality, when compared to the best lower bound found by solving the mathematical models. The tests were conducted using generated instances based on real data.

Submitted by JÚLIO HEBER SILVA (julioheber@yahoo.com.br) on 2017-06-01T20:19:23Z No. of bitstreams: 2 Dissertação - Marianny Silva Canedo - 2015.pdf: 18768741 bytes, checksum: fcc66b1f3d382a6d6d99821e7c4dd7b5 (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Approved for entry into archive by Luciana Ferreira (lucgeral@gmail.com) on 2017-06-02T11:08:15Z (GMT) No. of bitstreams: 2 Dissertação - Marianny Silva Canedo - 2015.pdf: 18768741 bytes, checksum: fcc66b1f3d382a6d6d99821e7c4dd7b5 (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) / Made available in DSpace on 2017-06-02T11:08:15Z (GMT). No. of bitstreams: 2 Dissertação - Marianny Silva Canedo - 2015.pdf: 18768741 bytes, checksum: fcc66b1f3d382a6d6d99821e7c4dd7b5 (MD5) license_rdf: 0 bytes, checksum: d41d8cd98f00b204e9800998ecf8427e (MD5) Previous issue date: 2015-09-29 / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior - CAPES / The majority of agroindustrial by-products are rich in low digestible fiber, and the bioconversion process for the production of microbial protein can be a practical and promising alternative to increase the protein content and nutritional value of substrate and food quality, turning these fibers into digestible components for the feeding of non-ruminant animals. Thus, this paper was aimed at protein enrichment of brewery spent grain by Rhizopus oligosporus CCT 4134 by solid state fermentation to be added in diets of juvenile Nile tilapia (Oreochromis niloticus). Solid state fermentation experiments were performed in order to determine the highest protein increment studying variables initial moisture (50, 60 and 70%) and supplemental nitrogen sources (ammonium sulfate, urea and sodium nitrate). To study the addition of fermented brewery spent grain in diets of Nile tilapia, 120 juveniles were used, divided into 24 boxes representing the six levels of addition (0, 2, 4, 6, 8 and 10%) of fermented brewery spent grain and four replications of each treatment. Fish were fed for 67 days between May and August 2015, the period where the water temperature was below the thermal comfort for the species. Solid state fermentation provided protein enrichment of brewery spent grain in about 2 and 4 times the content of crude and soluble protein, respectively, and is considered an alternative to use of industrial by-products to replace traditional ingredients in diets of juvenile Nile tilapia, because with the addition of fermented brewery spent grain, no significant difference in productive performance, hematological and biochemical parameters of juveniles Nile tilapia was found. Thus, the fermentation of brewery spent grain is a good alternative to be used as substrate for the cultivation of Rhizopus oligosporus and microbial protein production, allowing its use as a protein supplement in diets for juvenile Nile tilapia, with addition of up to 10 % without compromising growth performance and hematological parameters of the species. / A maioria dos subprodutos agroindustriais é rica em fibras com baixa digestibilidade, e o processo de bioconversão para produção de proteína microbiana, pode ser uma alternativa prática e promissora para aumentar o teor proteico, o valor nutritivo do substrato e a qualidade da alimentação, transformando estas fibras em componentes digestíveis para alimentação de animais não ruminantes. Diante disso, o presente trabalho teve como objetivo o enriquecimento proteico do bagaço de malte por Rhizopus oligosporus CCT 4134 via fermentação em estado sólido e adição em dietas de juvenis de tilápia do Nilo (Oreochromis niloticus). Na fermentação em estado sólido foram realizados experimentos visando determinar o maior aumento proteico, estudando as variáveis umidade inicial (50, 60 e 70%) e suplementação de fontes de nitrogênio (sulfato de amônio, ureia e nitrato de sódio). Para estudar a adição do bagaço de malte fermentado em dietas de tilápia do Nilo, foram utilizados 120 juvenis, distribuídos em 24 caixas que representa os seis níveis de adição (0, 2, 4, 6, 8 e 10%) do bagaço de malte fermentado e quatro repetições de cada tratamento. Os peixes foram alimentados por 67 dias compreendidos entre os meses de maio a agosto de 2015, período que a temperatura da água estava abaixo do conforto térmico da espécie. A fermentação em estado sólido proporcionou enriquecimento proteico do bagaço de malte em aproximadamente 2 e 4 vezes no conteúdo de proteína bruta e proteína solúvel, respectivamente, sendo considerada uma alternativa para aproveitamento dos subprodutos industriais na substituição de ingredientes tradicionais em dietas de tilápia do Nilo, pois com a adição do bagaço de malte fermentado não observou diferença significativa nos parâmetros de desempenho produtivo e parâmetros hematológicos e bioquímicos dos juvenis de tilápia do Nilo. Com isso, a fermentação do bagaço de malte é uma boa alternativa para seu aproveitamento como substrato para o cultivo de Rhizopus oligosporus e produção de proteína microbiana, permitindo sua utilização como suplemento proteico em dietas para juvenis de tilápia do Nilo, com adição de até 10%, sem comprometer o desempenho produtivo e parâmetros hematológicos da espécie.

One of the main and most studied areas is the area of determining their own financial situation or the financial health of the company. The definition of financial stability is a financial analysis firm. Thesis contains a presentation of the Burgess Brewery Havlickuv Brod a. s. and estimation her financial situation behind period years 2005 -- 2007. Work is processed using the selected methods of financial analysis, which apply to the enterprise. In addition, possible solutions are proposed and possible measures to improve the financial situation of taking, which underline the importance of financial analysis. Assessment of financial situation begins with horizontal and vertical analysis of statements, working capital analysis and balancing rules. This is followed by analysis of the ratio indicators (liquidity, profitability, debt, and activity), analysis of cash flow and analysis system of indicators (financial lever, Du Pont degradation). Financial analysis is finished the economic normal and the overall indicators (index IN05 and Kralickuv Quick test).

The thesis consists of a business valuation of BERNARD Family Brewery, a brewery headquartered in the town of Humpolec and belonging to a group of several smaller breweries (related to its size). In 2001, top management decided to finance its company growth through venture capital. The main objective of this thesis is to indicate the market value as of 1/1/2009 by utilizing appraisement measures in accordance with International Valuation Standards (IVS). The business valuation is primarily determined using two well-known valuation approaches - adjusted present value method (based on income analysis) and comparable companies analysis (based on market analysis). In addition, the use of advanced statistics is applied when needed. The purpose of this assessment is to find an appropriate value for owners and other third-party stakeholders. In order to provide a full range of understanding, the paper consists of six main parts that involve a company profile, strategic analysis, financial analysis, value drivers, financial plan and a final valuation. Further, all these parts are split up into few sections.

The purpose of this text is to estimate the value of Plzeňský Prazdroj, a.s. in order to determine value for yet unknown buyer. Approaches commonly used for appraisement of enterprises' value are used within the text, such as strategic analysis, financial analysis, finacial plan composition and the use of discounted cash flow methods. This thesis results in an appraisement of value of firm's equity on the date of evaluation.

The main goal of this thesis is to create a real business plan for establishing a small brewery in Dolni Libchavy. The work consists of two parts, theoretical and practical. The theoretical part will acquaint us with basic terms, definition of required analysis and detailed description of each part of business plan. In the practical part is processed business plan for the brewery. There are analysis for internal and external environmental and finally financial cover of entire business.

Nowadays there are hundreds of breweries scattered throughout Bohemia, Moravia and Silesia, waiting for their new future. They are either abandoned or in private property. In the worst case they have been deteriorating with no hope of recovery. There are not many left. It is very difficult to find a new function and especially enlightened investor. Important thing is how we will treat with these structures in the future. Will we use this unique potential, or leave this place for a new function? Which way we can choose? What is the potential of these buildings and what they need? This thesis attempts to briefly describe and demonstrate the value of brewery architecture which due to dramatic changes in society became endangered. And to offer possible solutions for the preservation this unique buildings their charm and atmosphere for the next generations.

The aim of this master thesis is to consider appropriate solutions of entering the foreign market. After introducing of the company follow the external and internal analysis. The thesis proves a suitability of the target market, deals with a choice of the product portfolio. It also mentions and checks the expectations of new market’s behaviour. In the final part of the thesis we can find a proper suggestions for entering the target market, steps and measures, which the monitored company shouldn’t leave out.