Evaluate The Business Model of A Company

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Evaluate the business model of a company

Q1: Using an appropriate model, evaluate the business model of a company of your choice,
describing how the company dierentiates itself from its competitors and sustain competitive
advantage.
1. Executive Summary
Cummins started o as diesel engine manufacturing company since 1919 and now growing as power leader in the world. Cummins expand network through companyowned distributor, independent distributor and dealer to serve customer globally. In 2009, Cummins reported net income of $428 million in $10.8 billion of sales [1].
Cummins have been diversifying its business to broad range of products from power generation, ltration technology, turbo technology, fuel system, emission controls and
air handling [2]. Due to external pressure and growing market in Asia, Cummins recently setup Centre of Excellent in Singapore focus more on Marine and Oshore market.
In this post module assignment, competitive strategy will only focus on Cummins's marine and oshore business. In this PMA, the value curve is based on own industry
experience's assumption. However, analysis on nancial will based overall Cummins business listed in stock market which named CMI.

1.1. Vision Statement


Making people's lives better by unleashing the Power of Cummins [3]. Cummins believe in by developing new technology will lead to better living for the people.

1.2. Mission Statement


Cummins mission statement as quoted below [3]
Motivating people to act like owners working together
Exceeding customer expectations by always being rst to market the best products
Partnering with our customers to make sure that they succeed
Demanding that everything we do leads to a cleaner, healthier, safer environment
Creating wealth for all stakeholders.

1.3. Cummins compare with Industrial leader


Statistic

Industry Leader

Market Capitalisation

BHEL.BO 979.41B 23.52B 35 / 379

P/E Ratio (ttm)

ROR.L

PEG Ratio (ttm, 5 yr expected)PRY.MI

CMI

CMI Rank

4,276.81 22.76 81 / 379


9.01

1.23

27 / 379

Revenue Growth (Qtrly YoY) PPRW.OB196.10% 21.70%111 / 379


EPS Growth (Qtrly YoY)

MXH.DE 1749.70%36.80%82 / 379

Long-Term Growth Rate (5 yr) MNTX

75.00%

12.03%47 / 379

Return on Equity (ttm)

94.04%

25.29%36 / 379

SHS

Long-Term Debt/Equity (mrq)


Dividend Yield (annual)

15.833 N/A
HYG.TO 7.70%

0.90% 21 / 379

Figure 1 Financial Analysis CMI Vs Industry Leader [4]


Figure 1 shows overview nancial analysis of Cummins (CMI) compare within industry leader [4]. Cummins rank 35 among 379 diversied machinery industries in industrial
goods sector for market capitalisation. Cummins stock values increase more than triple over the past 3 years and promise future growth with its business strategy [4].

1.4. Ocean Strategy


Ocean strategy has been introduced by W.C. Kim and R Mauborge since 2004. Starting then, this strategy is adopted and implemented successfully in various organisations
globally. Recently, Malaysia's Prime Minister Datuk Seri Najib Razak shared his experience on Ocean Strategy when dealing with increasing crime in the country [5]. He is
using Blue Ocean Strategy as management tools in order to promote thinking out of the box. Key successful activities such as leveraged untapped resources when replaced
police with soldier doing patrolling around country's border and conduct training for new police force in the underutilised army facilities. This initiative save a lot of money
from government and promote cross functioning role among government agency [5].
The principle of the ocean strategy is treating market as universe. There are two oceans available in the universe named Red Ocean and Blue Ocean. Red Ocean dened as
known competition. In this Ocean, product is already well dened and competitors only able to compete with price [6] .Customer expectation on the product almost generic
and not much technology can be developing in this area. For diesel engine in marine and oshore market, the competitors for Cummins include Caterpillar, MTU and
Mitsubishi. How Cummins can break trough become market leaders?
Cummins apply Blue Ocean Strategy when dealing with its business. Blue Ocean Strategy denes as untapped market which no competition and industries that do not exist
at this point of time [6]. This in return will resulting higher prot compare with conventional approach. This clearly shows in W.C. Kim and R Mauborge study's on business
launches in 108 companies. They summarize revenue and prot impact of business launches shows in Figure 2. In this study, 86% business launches within own boundaries

(Red Oceans) and 14% business launches looking for new opportunities (Blue Oceans) [6].
Red Oceans approach focus on existing customer by improving their product and study shows that this resulted 62% on total revenue and 39% on total prot. In contrast,
14% of the businesses launches by creating blue oceans can bring in higher return which about 61% of the total prot [6].
Cummins spend heavily on research and development for past 5 years as shown in Figure 3. In 2010 alone, Cummins invest 414million in new technology development [2].
One of recent Blue Ocean's initiatives is setting Marine and Oshore Centre of Excellent in Singapore. This business focus on the Packaging instead of selling conventional
type of bare diesel engine like other competitor such as CAT, MTU and Mitsubishi. Figure 4 shows pictorial view on the value added components into bare diesel engine

1.5. Strategy Canvas


Figure 5 shows strategy canvas of the marine and oshore diesel engine. X-axis represents critical success factors of the market's competition and Y-axis correspond to
values perceived by marine and oshore customer.
Marine and oshore is a mature and establish market. Engine makers always compete with price, image, brand, delivery, product performance and service availability.
Cummins performs averagely in critical successful factors. However, in order to compete in the competitive market, Cummins break through conventional way by creating
new team to focus on product value added specically for marine and oshore customer. Cummins applied Blue Ocean strategy.
Figure 6 shows Red Ocean strategy from others diesel engine maker and Blue Ocean strategy from Cummins.

Q2: Using either Porter's generic strategies or the Strategy Clock, identify examples of organizations
following strategies of dierentiation, low cost or low price, and stuck-in-the middle or hybrid. How
successful are these strategies.
2. Porter's 5 forces & generic Strategies
Using the ve forces framework, creative strategists may be able to spot an industry with a good future before this good futureis reected in the prices of acquisition
candidates Michael Porter [7].
Porter's ve forces:
Threat of New Entrants: Analyse potential new comer to market is important to understand potential future competitors
Bargaining Power of Buyers: Buyers is the party that create demand for industry, understand buyer's requirement will help to maintain competitive advantages. For
example, bargaining power of buyers is high if product is standard.
Threat of substitute products or service: Buyers always look for alternative or cheapest way to get products or service. Substitute product can bring the overall industry
price lower
Bargaining Power of Supplier: Supplier supply raw material or service to manufacturer. Bargaining power of supplier is high when to many buyer and less supplier in the
market
Rivalry among existing competitors: Current fast moving industry, its important understand the strategy of existing competitors. Example: How competitor gain
competitive advantages or product dierentiation.
Porter's 5 Forces allowed the company undertand and analyse own industry struture and futher help the management to decide on company's strategy. According to
Porter, organisation is able to gain competitive advantanges by strategies the company using one of the Porter's Generic Strategies as shown in Figure 8; 1) Cost
Leadership, 2) Dierentiation, 3) Focus [8].

2.1. Cost Leadership Strategies


Cost leadership strategies emphasize on low cost in company strategies. Company will oer low per-unit cost product or service to customer that sensitive to price. In order
to become low cost provider, company can practise integration strategies (backward, forward and horizontal). There are few factors that will aect the strategies include
economies of scale, learning curve, productivity, company structure, relationship with supplier and quality control. Several example organizations that practice this are WalMart (general merchandiser), Air Asia (budget Airline) and Macdonald's (Fast Food) [9]. In this PMA, I will use Air Asia as example to study its business model and look into
company successful factor.
Air Asia strategy as illustrate in Figure 9, the company mission is to continue to be the market's carrier low cost provider.
In order to compete with other aircraft carrier and achieve company vision for Lowest cost airline, Air Asia implement a few strategy to reduce operation cost. Strategy
implemented as per below:

2.1.1. Keep operation cost low- NO frills


In order to compete in this competitive market, Air Asia able to keep operational cost low by implementing few NOs in the strategy [10]:
NO meal: No food or drinks will be provided free in the in-ight service.
NO frequent yer program: NO Membership or rewarding program which commonly used for others airline like Kris yer for Singapore Airline and Skymiles for Delta
airline.
NO Seat assignment & Ticket: In order to keep administrative cost low
NO Entertainment: NO news paper and entertainment system such as movie, games and music.
No ticket : Ticketless replaced conventional type printed ticket
No waiting lounge: NO lounge provide in the airport

2.1.2. Single air craft eet


In order to streamline the operation, Air Asia phasing out its 14 Boeing B737 in 2010 and replace by only operate single air craft which is A320. Few advantages of using
single aircraft as stated below

Keep inventory cost low


Saving cost in service and maintenance such as keeping same model of spares parts.
No duplicated resource due to dierence Air Craft experience needed
Reduce time and training cost due to only one model. This allowed the company avoid going to through the expensive learning curve process and also may dissatised
demanding customer. Michael and Nikos study on the organisation learning curves for customer dissatisfaction across airlines. They plotted estimate U-Shaped learning
curve as show in Figure 10 and show evident that complaint rates followed U-shaped function of experience
Able to increase fuel eciency and improve productivity

2.1.3. Simplied distribution system


Air Asia design simple user friendly system for customer to book and check- in their ticket. Customers are able to check in using own mobile as shown in Figure 11. This
ticketless system is able to reduce waiting time for customer queuing to check- in at the airport counter.

2.1.4. Point to point network ( 4 hrs)


All Air Asia ight is running by point to point network within 4 hours radius or less as its business model. This model only carry passenger from point A to point B without
any connecting ight. This in order to keep operation cost simple in order to reduce costs [10].

2.1.5. Optimum Aircraft Utilization


Another way to keep operating cost low and maximizes prot, Air Asia increase productivity by optimise ight utilisation. Air Asia is the fastest in the region by achieving 25
minute turnaround time. Air Asia is able to achieve equal or more than 75% for last 5 years on the load factor. Once, Air Asia achieve close to 100% load factor for Bali Perth route. Load factor is dened by AirAsia as numbers of passengers as a percentage of number of seats own [10]. On top of that, Air Asia applies Tier based system
for ticketing which depend on supply and demand. When demand is low, the price is low. When demand is high the ticket price will also go high. This system is ecient
especially during low season allowed Air Asia maintain the reasonable high percent load factor,

2.2. Dierentiate Strategies


Dierentiation strategies oer service or product which unique perceived by customer. Dierentiation strategies do not guarantee good payback especially current standard
product oered in the industry is more than enough to meet customer expectation. There will a risk on implementing this strategy and need to study carefully on customer
requirement before implementing. Product value added, extra servicing, products exibility and better compatibility are some of the features that can create dierentiate in
the industry. Cost is not an issue in this strategy; hence company can demand higher price if customer strongly attached to oered dierentiation features. Typical move in
this strategy is product development. Organisations that apply these strategies include Apple (Lifestyle product), Raul Lauren (Apparel) and Maytag (Home appliance)
Apple is applying dierentiate strategies compare with other competitors in the industry by selling lifestyle product instead of conventional electronic gadget. In rst 6
months of 2011, Apple spends 1.2 billion in research and development. This is about 40% increase compare with 2010 [13]. One of the successful examples when Apple
launches iPad during 2010 and Steve Jobs dened iPad as entirely new category of mobile devices. Apple sold more than 15 million units worldwide after launching [14].

2.2.1. Innovative and creativity product


Apple is a trend leading company in the market. The company famous in creating innovative products and able to capture a signicant market share after launching new
products. Apple spends heavily in research and development because the company believe R&D are critical for future growth and are able to create competitive advantages

2.2.2. Wide range of software and applications


Apple created another successful platform for customer to download software and application. Traditional, example like phone, other competitor just focus on few simple
features which only contains game, photography function, movie and some basic feature. By introducing new approach, Apple created The App Store. Now The App Store
has more than 350,000 apps available for iPhone, iPad and iPod touch globally. The apps oered wide range of application from games, entertainment, utilities, social
networking, music and others. In Jan 2011, Apple announces that more than 10 billion apps have been downloaded .

2.2.3. Apple store


Unlike others competitor's store which only focus on product's price and feature, Apple dierentiate by giving customer dierent shopping experience in the store. Apple
design Apple's retail store to give the patrons good impression of stylish, clean, fashion and stream-lined. The product like i Phone, iTunes and etc will placing in a place that
customer can try out the features and application.

2.2.4. Provide good service and maintenance


Apple provides good service respond compare with others competitors like Samsung and Nokia. In Singapore, Apple provides one to one exchange for i Phone if there is
defect and still under warranty. This is dierent from some of the competitors, depend on the level of repair, some will take about 2 to 3 weeks. This will create some issue
for some consumer that only has one hand phone.

2.3. Focus Strategies


Focus strategies oers product or service to full the requirement for targeted groups of customer in the industry [9]. Focus strategies can be categorized into 2; Focus cost
leadership which focus on low cost solution in narrow market and Focus dierentiation provide customised product or service to niche market [16]. Market penetration and
market development can be use when applying focus strategies [9]. Focus strategies benecial when competitors are not able to support on unique requirement of certain
group of customer. Organisation which pursuing this strategies include IKEA (Furniture), Ferrari (Automotive) and Federal Express (logistic)

2.3.1. Focus Cost Leadership Strategy


IKEA is the Swedish global furniture company that applied focus cost leadership strategy in their business strategy. IKEA oering wide range of home furnish product with
low price so that many people can aord to purchase. In order to achieve the strategy, IKEA apply below concept:

2.3.1.1. Design and develop base on price


In order to keep competitive price, IKEA design and develop product base on price. The price is x even before the product is launch. The designer will have to work directly
with supplier to ensure meeting low cost by optimised productivity, material eciency and process improvement [17].

2.3.1.2. Reduce logistic, handling and operating cost


In order to reduce logistic, handling and operating cost, IKEA designer always consider at-pack transportation and self-assembly during design and development phase.
Flat-pack furniture is often delivered in multiple sub assemblies together with simple instruction manual and required customer to perform self assembly. This modular
concept is able to save transportation, handling and operating cost. For example, assembled furniture tends to be more bulky and is more expensive to store in warehouse
and transportation. Besides, that, IKEA is able to save operating cost by reduce one Assembly process in production .

2.3.1.3. Self-Service in IKEA Store


In order t keep the operating cost low and reduce the needs of sales assistance, IKEA design the ow of store layout and display the product eectively by using actual
room concept. For example, sofa is placed in living room section and bed is placed in Bed Room section. All the furniture is clearly labelled and useful information like
dimension is easily located in the display product [17].

2.3.2. Focus Dierentiate strategy


Ferrari is applying focus dierentiate strategy by develop high performance car within automotive industry. Ferrari focus on high end consumer compare with other
automotive competitors like Honda, Toyota or Ford which target more broad customer. Below is the strategy for Ferrari:

2.3.2.1. New Way of Purchase Car


Ferrari compete created innovative approach by introduce new way of purchase car Premium Ownership Program to serve its target customer. This program include
insurance, maintenance, warranty , Ferrari tailored made driving course and pit stop service which provide the customer mind free after owning and driving Ferrari car
[18].

2.3.2.2. Innovative Technology


Ferrari developed own software to meet customer service expectation such as rapid response times, up to date database and personalise customer service. One of the
latest features such as, the customer can view the look of the vehicle and change the preference in Service congurator system even in pre-order stage [19].

2.3.2.3. Best Dealer


Ferrari believes choosing the right strategic partner or dealer is the right way to serve the customer. In order to motivate the dealer, Ferrari created prestigious award Podio Awards for supplier or business partner recognition.

2.4. Stuck in the middle or Hybrid Strategies


Porter does not recommend Stuck in the middle or Hybrid strategies if the company want to achieve above average performance in the industry. Company must choose
either one of the strategy in the Porter's Generic strategy. He claimed that it is dicult for a company to strategies the business to produce low cost product but still remain
unique perceived by customer [8].
However, Rodney Goon argues on Porter's theory and commented some of the company such as Singapore Airline (SIA) are able to success using Hybrid strategy. Figure
12 shows business strategy applied by SIA which plotted by Rodney [21]. Singapore Airline have been awarded 2nd place in World Top Airline in 2010 by Skytrax in Hamburg
[22]. Figure 13 shows main operating cost for SIA. Top 3 costs consist of Fuel, Aircraft and People [23]. In order to achieve competitive advantages, SIA apply below approach:

2.4.1. Become Market Leader - Dierentiation Strategy


SIA founded in 1972 started as small airline company and now evolve become the world trend leading company for Airline industry. SIA become market leader by setting
trend started since 1970s when introducing headsets, drink and choice of meals in Economy Class. Figure 14 shows overview on SIA trend setting for more than 39 years in
the industry. In 1991, SIA introduce satellite- based telephone to enable passenger to call to ground during ying. In 1998, in order to improve the quality and standard of inight meal, SIA formed International Culinary Panel which involves renowned chef from all over the world. By doing this, the passengers are able to enjoy world class cuisine
even during travelling.
In order to improve customer service satisfaction, SIA introduce in-ight entertainment system named Krisworld which include Audio and Video system. Passenger can
watch movie, listen to music and playing game during ying. In 2004, SIA reach another milestone by ying world longest non-stop ight from Singapore to New York
(Newark). In 2007, SIA ying new Airbus design A380 which is world largest passenger Aircraft from Singapore to Sydney .

2.4.2. Brand Singapore Girl - Dierentiation Strategy


SIA successfully improve its service compare with others competitors by creating unique iconic image for SIA's air stewardess as Singapore Girl and promote You're a great
way to y started in 1972. This iconic brand is famous of caring, elegant and good looking girl whom will provide good service for the passenger during on board the plane.
Singapore Girl has continuously won many awards in Airline and Travel Industry over the years .

2.4.3. Low Cost -Cost Leadership Strategy


Everything behind The Scenes Is subject To Rigorous Control quoted by Rodney . SIA spend heavily on the area that customer can be seen as discussed above in order to
remain premium in the industry but cutting cost for area that behind the scene in order to remain cost compatible. Total cost for Singapore airline is about 14.2% is the
lowest in the market compare with other competitors like American Airline which labor cost is approximately 31% of total operating expense . Other than that, average price
per aircraft purchase is less than other airline provider. This is due to SIA is the market leader in trendsetting and always working with aircraft builder like Airbus when there
is new product launching. First purchase in world for A380 allowed SIA command a better purchase price.

Q3: What are the major advantages and disadvantages of an integrative strategy?
3. Integrative strategy
Organisation is able to gain competitive advantages by using integrative strategy. Integrative strategy can be categorized as vertical, backward, forward and horizontal
integration. There are advantages and disadvantages when applying each concept and detail discuss as below:

3.1. Vertical Integration


Vertical integration is business strategies which expand its business either through gaining control over company that distribute or selling its product (Forward integration)
or taking control over company that provide the raw material for nish goods (Backward Integration). Figure 15 illustrate 4 typical stages for value added chain in PC
industry (27).
Example for Dell or Hewlett Packard, in order to produce a personal computer, assembly components such as chips, microprocessor and disk drive etc is needed from
others manufacturing company (Intel/ Micron). Similarly, component parts manufacturing needs raw material like chemical, metal and ceramic to manufacture the
component. Kyocera is one of the suppliers for those materials. Backward integration strategy in this case is trying to taking control over components parts manufacturing
and raw material supplier. Whereas for forward integration strategy, PC maker try to gains control over the company that selling or distribute the nal product such as
OceMax and ComUSA [27] This company provide platform to reach end user.

3.2. Forward Integration


Forward integration strategy involves increase ownership or control over retailers or distributor and illustrates in Figure 16. One of the eective mean of forward integration
is through Franchising [9]. Approximate $2 trillion revenue created annually through franchising business every year globally. This equal to 4th largest Gross National
Product in the world [28]. Advantages and disadvantages as discuss below:

Advantages:
Getting understanding customer better
One of the companies using forward integration strategy successfully is Dell. Dell founded in 1984 by Michael Dell with one direction selling nal products to customer
directly [29]. By doing this, company able to reach end user and getting feedback instantly through company's distributor and retailer without ltering.

Low development and training cost


By introduce franchising; the company are able to reduce development and training cost. Franchisor will provide training, equipment and product to franchisee. This in
order to skip the trial & error phase for franchisee and able to help franchisee generate prot with less risk. Example companies like Subway, McDonalds and 7-eleven.

Provide better services


Company can provide better services through its own controlled network and services.

Provide lower cost of sales


In order to compete in this competitive world, price of the end product is always one of the critical successful factors for the company. Dell is using this strategy to reduce
price bypassing third party involvement such as retailers etc. No mark up from other company in the nished goods

Disadvantages:
Increase bureaucratic cost
Expanding business forward which also means that increase bureaucratic cost for whole value- added chain activities. Due to uncertain demand in current market, it will
post some risk to the company

Increase Inventory
Getting control over distributors or retailer, indirectly manufacturer may have to manage whole product cycle inventory include end products. Company may incurred
higher inventory cost if wrongly manage

3.3. Backward Integration


Manufacturer need supplier provide raw material in order to produce its end products or service. Backward integration allowed company gain control toward supplier as
shown in Figure 16. Advantages and disadvantages as discuss below:

Advantages:
Getting better quality control
Company are able to apply standard quality plan throughout the value chain. This is especially important when dealing with sophisticated components such as crankshaft,
piston and turbocharger for engine. By improving the quality of this critical component will increase competitive advantages among the rivals

Reduce threat from powerful vendors


By increasing control over the vendors, it will reduce threat from powerful vendors.

Optimized supply chain


Keeping track of so many suppliers is onerous says Mark Shimelonis of Xerox [9]. Nowadays, a number of companies following Japanese rm's lead in managing the supply
chain to ensure uninterrupted supplies and low prices.

Lower structure cost


Outsourcing is one of the examples of the backward strategy. Outsourcing strategy will able to reduce cost when company engaging third party specialist that performing
charging lower than company own operate value-chain activity. Cummins outsource IT support to India Company and panel design to CMR or Auto Maskin to keep the
company structure cost lower. Nike outsourcing its manufacturing plant in China due to lower labor cost [27].

Disadvantages:
Technology change
Technology change is inevitable in current competitive market. But backward vertical integration may lock a company way of doing business and prevent organisation
changes due to technology change. One of the examples is when radio manufacturer acquired a manufacturer of vacuum tube in 1950s to reduce production cost. When,
transistors replace vacuum tube in 1960s, the competitor rapidly change to latest technology. However for this radio manufacturer company, the management refuse to
change and as the result, lost in the competitive advantages and cause business failure. Thus, backward integration can cause serious disadvantages when trying to match
rapid technology change [27]

Risk of information loss


Increase control over the supplier which mean also potentially important information ow to the supplier. For example, Cummins need to provide important parameter and
interfacing information in the engine control module to backward supplier like CMR and Auto Maskin in order to joints develop the engine protection panel. Technical
drawing will be shared among backward supplier and manufacturer.

Potential high cost


Less supplier competition will lead to less eciencies when produce a product. The backward support company will work in the comfort zone and less initiative. The
manufacturer is forced to get the input from internal supplier even there will be some others external supplier can produce lower cost .As the result will cause potentially
higher production cost .

3.4. Horizontal Integration


Horizontal integration refers to company that use single industry strategy and seeking control over competitor in same market. A number of the company apply this
concept as growth strategy. Merger and acquisition allowed the company to expand its core business and technical capabilities within the same industry [9] For example,
recently Pzer paid more than $3 billion to complete acquisitions of King Pharmaceuticals through merger. This is helping Pzer to expand its prescription pharmaceutical
business in pain treatment, Meridian auto-injector and animal health business which originate from King's principal business.

Advantages:
Lowest cost structure
Horizontal integration allowed the company expand within the same industry. This is especially posted advantages when x cost such as equipment, specialise machine etc
is high. Just imagine, if only 3 major competitors in the market, Company A merge with company B by acquisition. They have similar capacity in the plant in both companies.
Now with new merger, New Company AB can close one of the plant and fully utilised the facilities to reduce manufacturing cost. For this competitive world, reduce
manufacturing cost is essential to gain competitive advantages. On top of that, horizontal approach also allowed the company to save overhead cost by cutting down
duplicate resources such as management, sales and production team [27] Pzer-Wyeth merger is one of the examples. Pzer combine both facilities; reduce number of
manufacturing site by about 15 percent, and cutting 10% of its global workforce [32]

More focus on the core product


With horizontal approach, the company can more focus on its main core business. Company which is using single industry approach that only focuses on core product
sometimes can name Stick to the kitting. This means that the company only focus on the things that they know and try to make it better [27] Example such as KFC focus on
its global food market and IKEA focus on its home furnishing product.

Increase Market shares and brand


By reducing the competitors in the market, the company can increase market shares and become major player in the industry. Thus, this will improve company brand in the
industry. Besides, through merging and accusation, the company have the economies of scale in the market. Company can demand better price from the supplier.

Provide total package to customer


Company are able to oer wide range of the product when dealing with customer. Merging of both company can allowed the company to oer product bundling.

Disadvantages:
Lack of innovative
Horizontal approach expand the business within own industry. Old industry practice may still stick with the company when dealing with the business. Lack of innovative
and creativity approach may lead to the company stay in Red Ocean instead of break through conventional rout to Blue Ocean Strategy that can bring more prot to the
company as discussed in Chapter 1.

Cultural Dierent
The problem may arise when merging both with dierent cultural company. This especially when turnover rate is high for the functional leader in the acquired company due
to restructuring [27].For example like International Company acquired China company, language barrier and culture dierent may create some operational issue.

Become Industry dominant


Company that apply horizontal integration strategy tendency become industry dominant and monopolize the market. The company will grow bigger and may have conict
with Federal Trade Commission (FTC) [27]. FTC is responsible for fair trading and promoting free competition. Horizontal merger guideline develop jointly from U.S
department of Justice and the Federal Trade Commission to describe the principal techniques and main evidence on which agencies usually predict horizontal merger that
may lead to fewer choice for the customer or end user [33]. FTC concerns on the merging company which may subsequently cause higher price, less innovative and lower
quality to the end user. One of the examples is the merging of 2 Satellite radio Company; Sirius and XM merger which will have more than 18.5 million subscribers after
combination and become second larger radio company in the country. The merging take about 16 month to battle with regulators regards on the market monopolize before
FTC approved the merger [34].

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