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Global leaders program: : Eurofarma.
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Nova Lima, MG: 2023.
BARAKAT, Lívia Lopes; ALVIM, Flávia de Magalhães.
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Barakat, Lívia Lopes Professor TI Nacional Fundação Dom Cabral - FDC
BARAKAT, Lívia Lopes; ALVIM, Flávia de Magalhães.
Eurofarma is a fully Brazilian-owned phamarceutical multinational and the Brazilian leader in medical prescriptions. It began its internationalization process in 2009, in Argentina, and expanded all over Latin America in the following yeras, where it is currently present in 21 countries. In 2021, Eurofarma decided to explore new territories and made one important acquisition in the USA in 2022. It had not been easy for Eurofarma to accomplish the results in Latin America, where the cultures and markerts are more similar to Brazil and the company has clear competitive advantages. It would thus be even more challenging to expand to other regions.
Eurofarma and Fundação Dom Cabral (FDC) partnered in 2021-2022 to design the Global Leaders Program based on FDC International Value Creation Model, which was developed in 2009 to guide the internationalization of companies in six dimensions: Internationalization Objectives, Value Proposition, Business Model, Organizational Model, Talent and Leadership, and Stakeholder Management. The main purpose of the program was to prepare Eurofarma's managers to work in new markets, lead different business strategies, manage foreign subsidiaries, and evaluate alternatives for problems resulting from operating in different geographies, cultures, economies and political-administrative environments. This was a key investment to support the next steps of Eurofarma's global expansion and ensure that the company's essence would be present in all its units.
Selected managers went through an intensive online journey in 2022 with classes that mixed theory and practice, taught by FDC Professors and by Eurofarma's top Executives. Participants reported greater integration with different areas, an incresed self-awareness of their global mindset and skills gaps, better ability to manage international teams and stakeholders, and higher engagement in global processes. Lessa than a year after the program, 21% of participants have been designated as Directors, assigned new projects, or expatriated, and many others are being involved in the implementation on 2027 corporate vision of advancing Eurofarma's presence in the USA and other geographies.
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