Grp9 Intel Strategy

8/2/2019 Grp9 Intel Strategy

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INTEL CORPORATION

Group 9, Section B


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OVERVIEW OF INTEL

Intel Corporation (Intel or "the company") is the world's largest semiconductor chip-making

company. The company develops advanced integrated digital technology products, primarily

integrated circuits, for computing and communications industries. Intel primarily operates inthe US, and Taiwan, China (including Hong Kong). It is headquartered in Santa Clara, California

and employs 82,500 people. The company recorded revenues of $43,623 million during the

financial year ended December 2010 (FY2010), an increase of 24.2% over 2009. The operating

profit of the company was $15,588 million in FY2010, compared to $5,711 million in 2009. Its

net profit was $11,464 million in FY2010, compared to $4,369 million in 2009.1

A brief History1

Robert Noyce and Gordon Moore (Of Moore's law fame) established Intel in 1968. Moore and

Noyce initially wanted to name the company "Moore Noyce". The name, however, was ahomophone for "more noise" an ill-suited name for an electronics company, since noise in

electronics is usually very undesirable and typically associated with bad interference. Instead

they used the name NM Electronics for almost a year, before deciding to call their company

Integrated Electronics or "Intel" for short. 2The total initial investment in Intel was $2.5 million

convertible debentures and $10,000 from Rock. Just 2 years later, Intel completed their initial

public offering (IPO) raising $6.8 million ($23.50 per share). Intel's third employee was Andy

Grove, a chemical engineer, who later ran the company through much of the 1980s and the

high-growth 1990s. Within three years, Intel made a breakthrough with the 4004, Intel's first

microprocessor. The company continued to launch improved products, including a range of8086 to 8088 microprocessor. In 1978, the company sold these microprocessors to IBM's new

personal computer division. In 1982, Intel introduced the 80286, the first Intel processor that

could run all the software written for its predecessors.

While Intel created the first commercially available microprocessor (Intel 4004) in 1971 and one

of the first microcomputers in 1972, by the early 1980s its business was dominated by dynamic

random access memory chips. However, increased competition from Japanese semiconductor

manufacturers had, by 1983, dramatically reduced the profitability of this market, and the

sudden success of the IBM personal computer convinced the then-CEO Andrew Grove to shift

the company's focus to microprocessors, a decision that was to prove successful by the end of

1980s.

Further progress led to the 386 microprocessor and then the 486-generation in 1989. In the

1990s, Intel began working on computers that allowed the incorporation of 'real world' data

such as speech, sound, handwriting, and photographic images. Intel Capital, the venture capital

1Source: DataMonitor, 15 July 2011

2http://en.wikipedia.org/wiki/Intel
http://en.wikipedia.org/wiki/Intel_4004http://en.wikipedia.org/wiki/Microcomputerhttp://en.wikipedia.org/wiki/Dynamic_random_access_memoryhttp://en.wikipedia.org/wiki/Dynamic_random_access_memoryhttp://en.wikipedia.org/wiki/IBMhttp://en.wikipedia.org/wiki/IBMhttp://en.wikipedia.org/wiki/Dynamic_random_access_memoryhttp://en.wikipedia.org/wiki/Dynamic_random_access_memoryhttp://en.wikipedia.org/wiki/Microcomputerhttp://en.wikipedia.org/wiki/Intel_4004


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investment arm of the company, was established in 1991. Intel introduced the Pentium

processor in 1993 followed by the Pentium Pro processor in 1995.

The company continued with its strategy of upgrading its models. In 1999, Intel designed the

Intel Celeron processor for the value PC market segment. It also launched the Pentium III Xeon

processor during the same period. New releases in 2000 and 2001 included the Pentium 4,Itanium and Xeon processors.

The company continued to work with and acquire a variety of specialists in different fields to

come up with solutions for Electronic Product Code technology (Carrefour, Metro and TESCO),

HD audio (Dolby Laboratories), video processing (Oplus Technologies), and computer security

(McAfee).

In 2006, Intel unveiled a new brand identity. The new brand identity involved changes to the

recognized Intel Inside logo, created in 1991, and the original Intel 'dropped-e' logo, which was

created by Silicon Valley pioneers Robert Noyce and Gordon. It also included a new tagline:

"Intel. Leap ahead".


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SECTOR ANALYSIS

PEST ANALYSIS

Political factors influencing sectorIntel being a multinational company, it has to operate according to different government

policies of different countries depending on the stability of the countries (Writer, 2006).Politics

has a serious impact on the economic environment of the country. Political ideology and

political stability or instability strongly influence the pace and direction of the economic growth.

Politics comprises government stability, political values and beliefs shaping policies. (Ho Chi

Minh City, 2006). It took Intel 4 years of negotiation until the Vietnamese government gave

them the license (Rediff News, 2007).

Economic factors- such as interests, GDP, Excise, customs, currency etcINTEL has positive trade balance with European and Asian countries in the world. Intel uses the

cash that the company generates to maximize stockholder value. Ways that Intel increases

stockholder value include periodically repurchasing its own stock in the open market, and

returning cash in the form of dividends. In 2010, Intel repurchased 70 million shares of common

stock for $1.5 billion, and the total dividend payout was $3.5 billion, including a 12.5% increase

in the quarterly dividend effective. Intel continues to invest money all over the world. 75% of

Intel sales come from outside the USA.

Technological factors

Technological factors represent major opportunities and threats which must be taken intoaccount while formulating strategies. Technological breakthroughs can dramatically influence

the organization products, services markets, suppliers, distributors, competitors, customers,

manufacturing processes, marketing practices and competitive position. Technological

advancements can open up new markets, change the relative position of an industry and

render existing products and services obsolete. Technological changes can reduce or eliminate

cost barriers between businesses, create shorter production runs, create shortages in technical

skills and result in changing values and expectations of customers and employees. This is

especially important for an IT company such as Intel as it can be the key for the companies to

survive. There are more and more consumers in the wireless industry, nobody can argue thatthe PDA and cell phones have become so popular; they are the new digital trends of this era.

Intel cannot ignore this profitable industry. So it has researched and announced the new chips

for mobile devices which are believed to unleash new innovation across the microprocessor

industry.


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Social and Demographic: family, population, age, life style

Social values like demographic factors such as population, age distribution, literacy levels, inter-

state migration, rural-urban mobility or cultural factors like social attitudes, customs, beliefs,

rituals influence business practices in a major ways. Some of the countries that Intel has made

investments like China, India and Vietnam have a very young work-force.

Environmental: regulations and expectations

INTELs compliance efforts focus on monitoring regulatory and resource trends and setting

company-wide performance targets for key resources and emissions. These targets address

several parameters, including product design; chemical, energy, and water use; climate change;

waste recycling; and emissions. Intel focuses on reducing natural resource use, the solid and

chemical waste by-products of our manufacturing processes, and the environmental impact of

our products. Intel currently uses a variety of materials in their manufacturing process that

have the potential to adversely impact the environment and are subject to a variety of EHS laws

and regulations. Over the past several years, INTEL has significantly reduced the use of lead andhalogenated flame retardants in their products and manufacturing processes.

INDUSTRY ANALYSIS

Threat of new entrants

Microprocessor industry is harder to enter than others. With all of its risks and high-price

patents, it is almost impossible for new firms to get in on the huge profit margins in this

semiconductors industry. In the semiconductors market, Intel is known as the No.1 Company,

which produces processors. Moreover, almost all the PCs and laptops around the world use

Intels processors like Dell, Toshiba and Compaq. AMD which is considered to be the biggestrival of Intel still holds a small market share against Intel. The threat of new entrants is not very

high (The Inquirer, 2006). Threat of new entrants is very low for INTEL.

Bargaining power of suppliers

Bargaining power of suppliers is very high for INTEL. Suppliers with low bargaining power are

good for business. Suppliers have power over the firm because they control inputs of the firm.

They may accept or refuse to provide materials, components or service. In case of Intel, making

a silicon chip is a very complicated process and it depends on thousands of suppliers to make

everything work properly. Therefore, when one of Intels suppliers cannot provide enoughmaterial at a particular point of time, the whole of the production line will face problems. For

example, A couple of years ago when a Japanese gum factory caught fire in Sumitomo , it

caused prices to rise, principally because it was the only glue factory which made silicon chips

work (Magee, 2000).


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Bargaining power of buyers

Bargaining power of buyers is low for INTEL. Buyers with weak bargaining power are

favourable. In the semiconductors market, a firm needs to satisfy the customers so that theycan sell more products. If the price of the product is too high compared to its substitute

products; then it wont take long for the customers to switch. Moreover, the quality of items is

one of standards which customers notice when they choose the product. In the past, there was

nearly only Intel in the processor market, so the buyers simply had no choice and almost no

bargaining power. Until, AMD Athlon made a serious challenge to Intel Pentium. (Brent

Schlender, Intel unleashes its inner Attila; Fortune.2001). Therefore the power of buyers has

increased compared to the past, but still Intel is quite reputed and considered to be the best in

the market so it wont be that easy for customers to switch. But in other markets like

communication, many potential customers have already committed to using rival ThirdGeneration products and wont consider INTELs new WiMax technology that enables high-

speed Internet access over a range of around 30 miles.

Competitive Rivalry

Rivalry is the fierce competition among firms in an industry to gain a greater market share. In

addition, the demands of customers are many. Therefore, all of the suppliers try to perform as

well as they can to satisfy these customers demand. Changing price, improving product

differentiation and creatively using channels of distribution are one of many ways which the

suppliers use to customize their customers. In case of Intel, one of its biggest rivals is AMD (AllBusiness, 2007). The intensity of rivalry between these chip making giants is very high. In 2003,

AMD managed to launch an attack on its rival with the introduction of its 64-bit Opteron

processors. Opteron ran 64-bit applications and legacy 32-bit applications without the drag on

performance noted in Intel's Itanium processors (Mullins, 2007). AMD upped the ante further in

2005 with the introduction of its first dual-core Opteron processors that doubled the

performance of single-core Opterons. But Intel also matched AMD on the product side,

introducing a dual-core Xeon processor in 2005, and regained the upper hand on AMD with its

first quad-core Xeon in early 2007.On the developing momentum, sometimes Intel had tried to

jump into another market but only to find more strong competitors and it proved a veryuncomfortable barrier for Intel to get over. The organization had to abandon plans to produce

cameras because it would have meant competing with two PC partners and giants - Dell and

Hewlett Packard (Emerald, 2004).


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Threat of substitutes

Threat of substitute products for INTEL is low because there are very few products which can

replace the quality of microprocessors manufactured by INTEL.

MARKET TRENDS

Which are important markets?

INTELs important markets include:

Original equipment manufacturers (OEMs) and original design manufacturers (ODMs)

who make computer systems, cellular handsets and handheld computing devices, andtelecommunications and networking communications equipment;

PC and network communications products users (including individuals, large and small

businesses, and service providers) who buy PC components and board-level products, as

well as our networking and communications products, through distributor, reseller,

retail and OEM channels throughout the world; and

Other manufacturers, including makers of a wide range of industrial and

communications equipment.

What drives markets? Intel's new strategy has a strong focus on marketing - finding out what customers want

and then providing it. Clear communication is the key to this. The company has been

completely restructured to reflect the emphasis on communication. It has reorganised

into four sectors to reflect the four parts of the market segment. These are notebooks,

PCs, servers and wireless technology. Intel has also increased its range of end customers

to include, for example, mobile phone companies and hospitals. New product


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development focuses on specific market segments, for example in healthcare or

entertainment, and provides specific solutions.


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INTERNAL ANALYSIS

CAPABILITIES AND RESOURCES

Tangible ResourcesHere are some of the tangible resources Intel possesses:

Technological Resources: Patents, Trade Marks and Copyrights

Intel has a lot of IP rights that includes Patents, trademarks etc. It has a diverse

portfolio of patents that includes silicon technology, microprocessor research and

communications to life sciences. Through this it has protected its inventions. It has also

IP environment to have the development of standardization and hence, interoperability.

Organizational Resources: Employment

Intel focuses within when it comes to the top suite. Company has resisted from getting a

CEO from outside of the company. Paul Otellini had been in Intel for 30 years when he

became CEO. Many of the top management people spent their entire life working for

Intel, a very rare occurrence in the Silicon Valley. Intels first three CEOs were all

cofounders with very different strengths, from the visionary Robert Noyce to

engineering marvel Gordon Moore and then to "Only the paranoid survive"

businessman Andy Grove. They have given vision and direction to the company to be at

top. No one in Intel has an office. Even CEO sits in cubicle. This policy is implemented to

promote EGALITARIANISM or EQUALITY among employees.

Intangible Resources Reputation resources:

Brand name and reputation with customers: Intel Inside, advertising campaign, has ledIntel Brand as Worlds most recognizable brand. The campaign started in 1991 and

created a place among public and awareness of Intel processors. In 2008, Intel shifted its

campaign from traditional media such as TV and print to online marketing. In 2010, $1.8

billion was allocated to the advertising with INTEL INSIDE being part of it. Intels brand

value was at number 48 in 2010 ranking of the world's 100 most powerful brands

published by Millward Brown Optimor. From 1991 to 2011, there have been changes in

the logo, but INTEL INSIDE is an integral part of all the logos.

Innovation resources:

Intels in-house and contracted research capabilities have allowed it to develop

products, which are based on the properties of materials at the size of nano scale. Threestrategic goals have allowed Intel to be a global leader in R & D and hence in Innovation:

1. Create new solution that would improve Intels internal effectiveness and efficiency

2. To conduct research and crate thought leadership to encourage and influence

customer

3. To deliver key applications that would create demand for new Intel platforms.

4. These innovations have been implemented in the Intel and its business ecosystem.


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In 2011, Intel estimates its R & D investments will be approximately $ 7.3 to foster innovation by

generating new ideas.

Capabilities

Intels R&D capabilities and encouragement to innovation has given the company capability to

design and manufacture the world class chip for last more than two decades.

Competitive Advantage of Intel

One of Intels Competitive advantages is Tick-Tock chip design and manufacturing method

(described in the Competitive Strategy section). This has been part of Intels promise to make

innovation as one of their capabilities. Patents, Trademarks and IP rights of technologies,

microprocessors research make it a rare capability of Intel Corporation. Brand name which Intel

has created is Costly-to-Imitate. For last 2 decades INTEL INSIDE campaign has given Intel an

edge over other players in the industry. It was valued in top 50 brands in 2010. Strong

Management team is the Intels Non-substitutable capability that is led by CEO of the company.

Most of the top management executive of Intel start their carrier in Intel and remain there for

the life time. Also, the concept of equality makes Intel a preferred workplace to work with.

Core Competencies

Core competencies of Intel are its design and manufacturing capabilities backed up by R & D.

VALUE CHAIN

Production planning:

Semiconductor device manufacturing is a very capital intensive process and therefore Intel

always strived to make the most efficient use of its capital resources. Aim was to build the bestmanufacturing and planning schedules that considered the flexible production owing to the

dynamic nature of the demand for its products.

Intel adopted a host of technological changes to complement its advancement in planning

processes. New data management systems, productivity management systems, and quality

management systems were implemented to enable tighter integration of next-gen planning and

production processes.

Manufacturing process overview
http://www.intel.com/technology/tick-tock/index.htm?iid=tech_as+rhc_ticktockhttp://www.intel.com/technology/tick-tock/index.htm?iid=tech_as+rhc_ticktockhttp://www.intel.com/technology/tick-tock/index.htm?iid=tech_as+rhc_ticktockhttp://www.intel.com/technology/tick-tock/index.htm?iid=tech_as+rhc_ticktock


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First, hundreds of complex devices, each containing millions of transistors, are fabricated on

silicon wafers. Second, the wafers are sawn to yield individual devices (called die) that are

assembled with substrates that supply physical protection and electrical connectivity. Third,

after configuration and marking, the final product is packed and shipped to the customer. Basic

planning for these stages includes deciding the timing and quantity of wafer releases intofabrication/sort facilities (F/S), die and substrate releases into assembly/test factories (A/T),

and semi-finished goods releases into configure/pack facilities (C/P), as well as assuring the

availability of substrates to support the A/T plan. These planning decisions are made more

complex by Intels risk management method of having multiple F/S, A/T, and C/P facilities. Each

facility manufactures multiple products, and each product is produced in multiple factories.

(Source: Intel Technology Journal, Volume 9, Issue 3 2005)

Development of automated data systems and optimization based tools has revolutionized

Intels supply-chain planning processes. Benefits have been realized in data and solution quality

as well as planner productivity across all product divisions and all manufacturing organizations.Planning time has decreased dramatically, supply costs have been reduced, and demand

satisfaction has improved. But perhaps the most important contribution of the efforts

described here is the facilitation of continuous improvement. With better data, documented

business rules, and fast planning and analysis tools, Intel planners have the time and facilities to

define world-class performance.

Value chain analysis:

Inbound logistics:

Intels main strategy is to use e-business technologies to maintain relationships with suppliers,

employees and customers. Prior to implementation of e-business initiatives, Intel used the

traditional paper, pen and telephones to place and track orders. It ordered raw material only in

response to customer orders. Hence, it lost of many of its business opportunities as it could not


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meet emergency orders. However, with its e-business strategy in 1998, all this changed when

Intel used the internet to maintain relationships with customers and suppliers. It was able to

reduce manufacturing lead times, and cycles times significantly. Intels goal is to move towards

100% e-business enabled automated system for supplies and purchases.

Operations:

Intel uses its web based e-business operations management system to aid in the quick

exchange of details and queries pertaining to customer orders, design specifications and

proprietary information. Design specifications and models can change every 6 months. Intel has

many made-to-order deals with big volume direct customers and this almost instantaneous

system can shave off a week or two in design and delivery of the final product, enabling the

product and its suppliers to take full advantage of its novelty and price in the market.

Outbound Logistics:

Intel uses web-based delivery management system to track deliveries, returns and to trackdelays in deliveries and feedback. Intel uses a vendor driven inventory management and does

not believe in keeping excess stock over and above customer demands.

Marketing and sales:

Intel has also improved time to market for its products to customers. By putting its customer

order entry system on the Web, it has reduced errors by 75%. It can take orders round the

clock, where more than 25% of its transactions occurring after normal business hours. Its ability

to establish links with over 75,000 system resellers worldwide has led to considerable increase

in its sales volumes. Online sales doubled from US$ 1 billion to US$2 billion a month. Hundreds

of Intel suppliers use the Web to check the status of inventory levels, payments and shipments.

Service:

Intel keenly focuses on areas that related to support and services of all its products. It employs

a highly skilled pool of consultants who have deep experience on designing, building,

optimizing, and implementing solutions on Intel architecture. Intel also alliances with

technology partners such as SAP, Oracle, and other software providers, and it thus helps its

customers derive best synergies possible with an integrated technology implementation. It also

keeps an updated database of successful applications which have been launched in Intel

platform to serve an models of implementation.

Intels Mission Statement:

This decade we will create and extend computing technology to connect and enrich the lives of

every person on earth.

Intels Values:

1. Customer orientation


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2. Results orientation

3. Great place to work

4. Quality Discipline

Intels objectives:

1. Grow PC and Datacenter business with new users and uses

2. Extend Intel Solutions to win in adjacent market segments

3. Create a continuum of secure, personal computing experiences

4. Care for our people, the planet, and inspire the next generation


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COMPETITIVE STRATEGIES

Huge R and D Budgets

The company invests heavily on its research and development activities. To give an idea, the

R&D budget of Intel nearly equals the total sales of its nearest rival, AMD. This cushionprovided to Intel R&D staff means that they have been able to come up with innovations in

chipsets as well. Chipsets are auxiliary components that are designed to work with the given

processor. The following table shows that Intel's R&D spending is almost three times that of

AMD's.

R&D FY 2010 FY 2009 FY 2008 FY 2007

INTEL 6.58B 5.65B 5.72B 5.76B

AMD 1.40B 1.72B 1.85B 1.85B

Tick-Tock Model3Intel adopts a Tick-Tock model in which during the "tick" cycle, Intel comes out with new silicon

process technology that doubles the density of transistors compared to the previous

generation, and during the "tock" cycle, it develops an entirely new architecture to optimize the

increased number of transistors. Intel's published roadmap already includes three generations

of microprocessor products: Nehalem, Westmere, and Sandy Bridge.

Source: http://www.intel.com/content/www/us/en/silicon-innovations/intel-tick-tock-model-general.html

3http://www.intel.com/content/www/us/en/silicon-innovations/intel-tick-tock-model-general.html


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Fabrication Processes

Intel has strong fabrication processes and facilities that are distinctly ahead of those of its

competitors. This difference will start becoming more significant as digital chips transition to

smaller geometries. A lot of their process knowledge is in-house, proprietary, and cannot be

off-shored to an Asian foundry. Also, at lower geometries, leakage power becomes a dominantcomponent of the chip. By having an in house fab, they are in a better position to tweak

parameters to reduce or mitigate standby power consumption. With the expected increase in

the number of low-power applications, the power consumption on Intel's new processor cores

will increasingly be the number to beat.4 In 2008, while two 45nm factories were under

construction, Intel had already finalized plans to switch to 32nm process technologies, while

looking forward to 22nm production. Since most of Intel's competitors don't have a fabrication

facility of their own, Intel has a distinct competitive edge when the war on production size

heats up, as Intel has a complete control over their production facilities.

4http://financialjoyride.blogspot.com/2008/03/process-intels-competitive-advantage.html


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CORPORATE STRATEGIES5

Intel has made a number of strategic alliances and acquisition till date. These partnerships allow

Intel to reach a wider customer base than would have been possible with a focus on just

microprocessors.

In 2004, the company along with Carrefour, Metro Group and Tesco formed a European

working group to accelerate the adoption of Electronic Product Code (EPC) technology in an

effort to further improve supply chain efficiencies and customer loyalty. In the same year, Intel

and Dolby Laboratories started cooperative efforts to extend the consumer electronics (CE)

sound and entertainment experience to the PC, based on Intel high definition (HD) audio.

During 2004, the company signed a multi-year patent cross-license agreement spanning

multiple product lines and product generations with NVIDIA.

Intel acquired Oplus Technologies, a provider of video processing products and technologies for

digital television and digital displays, in 2005. In the same year, the company signed an

agreement with Sprint to engage in joint efforts to advance the development of IEEE standards-

based 802.16e WiMAX mobile technology. In 2005, the company acquired Sarvega, a provider

of XML solutions. At the end of 2005, Intel introduced the Intel Storage System SSR212MA, an

Intel Xeon processor-based hardware and software storage platform designed to enable small

and mid-size businesses to build a storage area network based on IP networking standards. At

the end of 2005, Intel signed a partnership agreement with BMW Group that included

technology, co-marketing and Intel's sponsorship of the BMW Sauber F1 Team.

In 2006, Intel and Microsoft collaborated to deliver "pay-as-you-go" PC purchasing models forconsumers in emerging markets. Also, in the year, the company sold its communications and

application processor business to Marvell, a provider of storage, communications and

consumer silicon solutions. That same year, it collaborated with Yahoo! to launch Yahoo! Sports

for TV, a new service that brings football to TVs connected to Intel Viiv technology-based PCs.

Intel collaborated with Verizon to enable consumers to play PC games on their television sets

through Intel Viiv technology-based PCs in 2006. Subsequently, Intel and Micron formed a new

joint venture in Singapore. Towards the end of 2006, the company increased its investment in

Vietnam to build the semiconductor assembly and test facility from the $300 million announced

in early 2006, to $1 billion. Also, Intel launched its first desktop quadcore processor,codenamed Kentsfield.

In 2007, the company acquired Havok, a provider of interactive software and services used by

digital media creators in the game and movie industries. Subsequently, Intel launched first

industry-standard quad-core products for high-end, multi-processor servers. Also, in the year,

5Source: DataMonitor (Pg 7), 15 July 2011


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the company commenced production of processors with Intel 45nm Hafnium based High-K

metal gate transistors. For this purpose the company opened "Fab 32", a $3 billion factory.

During the same period, Intel opened a software innovation and support center in Hangzhou,

the capital of East China's Zhejiang Province. At the end of 2007, Intel and Comstar collaborated

to develop mobile worldwide interoperability for microwave access (WiMAX) in Russia.

Future Corporate Strategies:

As the computing spectrum continues to widen there is an increasing need for Intel to focus on

creating microprocessor platforms to cater to the wide range of demands across this spectrum.

The future of computing industry will be more of an eco -system of highly interconnected

devices ranging from high performance massive cloud computing shared infrastructure to small

embedded devices inside cars, Smart TVs and other hand-held computing devices. Intel must

create end to end microprocessor platforms that fulfil the computing needs of this entire eco-

system.

The computing industry is witnessing massive bi-directional growth in the form of increased

adoption of cloud services and other such shared computing services along with an explosive

increase in the types of smaller devices being connected to the internet. The small devices have

not only increased in number but also in types. For example, car manufacturers are now

contemplating inclusion of intelligent microprocessors to handle more complex real time data

such as data from traffic control systems, weather information, GPS connections with satellite

systems etc.

"With an additional 1 billion connected computing users by 2015 and with more types ofdevices there is value in providing a common experience between the devices," said Perlmutter

in an international developer conference. The future Intel architecture must be able to deliver

the right combination of performance and power that provides the foundation across all

computing devices creating a virtual continuum of computing to enable this common user

experience.

An interesting trend has been observed in high end computing arena, wherein history is indeed

repeating itself, though with a different flavour. Before the advent of distributed computing the

world relied in powerful mainframe processing which were essentially shared resources.

However, the world moved over the distributed computing in its quest for customization and

networking. However, organizations soon realized the overheads associated with excessive

customization in the form of increased capital expenditures and inflexibility to control these

expenditures. Hence, the trends is to move backwards into the shared infrastructure model

again in the form of cloud computing which is essentially different from mainframes, but is

quite similar in the sense that it is shared in nature and organizations can adopt pay -as-you-


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go policies and the curb their IT expenditure. Thus it is expected that there will be significant

scope and demand for cloud computing power and Intels future corpo rate strategies must

recognize this opportunity and make its presence felt in this end of the computing spectrum.

Intels future strategies must lay tremendous focus on R&D on intensive floating point

computations and development of more generalized processors with capabilities of intensive

processing of images, video, audio etc. Its future strategies must continue to expand on its

Sandy Bridge architecture and take it to the next level.

Its main areas of development and improvement must be centred on the trade-off between

computing power and size coupled with energy efficiency. All these factors do not go together

and energy efficiency is one of the key areas of concern amongst people who manage large

data centers. Micro-processor performance has grown 1,000-fold over the past 20 years, driven

by transistor speed and energy scaling, as well as by microarchitecture advances that exploited

the transistor density gains from Moores Law. In the next two decades, diminishing transistorspeed scaling and practical energy limits create new challenges for continued performance

scaling. This growth to a large extent has been fuelled by Intels innovation capabilities. The

next challenge before Intel is to continue to meet the customer expectations in terms of

creation of more powerful processor at the same rate, and better energy efficiency.

Microprocessor technology has delivered three-orders-of-magnitude performance

improvement over the past two decades, so continuing this trajectory would require at least

30x performance increase by 2020. Microprocessor-performance scaling faces new challenges

precluding use of energy-inefficient microarchitecture innovations developed over the past two

decades. Further, chip architects must face these challenges with an on-going industry

expectation of a 30x performance increase in the next decade and 1,000 x increases by 2030.

Energy utilization will be the key limiting factor for Intels R&D department and Intel must

therefore focus all its research horsepower to reduce the energy utilization but at the same

time increase computing power.

Intel must also aggressively collaborate with consumer electronics giants to derive synergies

with R&D departments of organizations. This is an important future corporate strategy as the

devices will continue to get smaller and almost all future devices are expected to get

interconnected and operate together. In this area, Intel must focus on developing its Atom line

of processors and must focus of high level of customization to cater to specific computing

needs of smaller devices meant to solve specific and focused problems. Intels R&D for mobile

computing must be in line with R&D of other consumer electronic manufactures in terms of

time to market, new product release and product phase outs.


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As a guard against failures, Intels corporate strategy must also ensure that Intel somehow

establishes its say in the way software programming is progressing. It is crucial that future

software programs are written to leverage the parallelism made available through Intel

architecture. At some point in future, Intel will come across a point where further reduction in

size without significant compromise in energy efficiency is not possible. Therefore, Intel mustfocus on hardware parallelism that is creation of an array of processors instead of trying to

focus on making a single processor core more powerful. Even with high levels of hardware

parallelism, the future generation software must be able to exploit this parallelism the fullest

extent in order to meet the computing demands of the future.

Therefore Intel must strike strategic alliances with software giants in future to make sure that

the next-gen software are written with an intent to exploit high levels of hardware parallelism.

Intels strategies must be able to cope up with the below mentioned software challenges which

are the primary concern for software giants in future.

(Source: Article by Shekhar Borkar and Andrew Chein Association of Computing machinery)


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CONTINGENCIESThe only contingency that could arise is a natural/man-made calamity that strikes one of the production

facilities of Intel.


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PLAN OF ACTON & IMPLEMENTATION RECOMMENDATION

Increased Investment in R&D

As can be seen from Exhibit 3, the funds allocated to research and development activities are a

low percentage of the total sales as compared to those of its nearest rival, AMD. The absolutefigures may be very high, but given the extremely competitive and fast-changing nature of the

segment, it will have to invest more in its research activities in the next five to ten years. Also,

as outlined in the Future Corporate strategies section, it will have to come up with a broader

range of micro-processors. This is mainly given the emerging markets in China and India. The

following points are noteworthy in this regard:

The emerging economies of the two Asian countries would not only mean an increase in

IT infrastructure but also mobile technologies.

An increase in IT infrastructure would mean Intel will have to support high-power

microprocessors capable of supporting cloud computers that would handle the data of

potentially billions of customers.

The countries don't have enough power-surplus. In fact, some important states in India

face a huge power deficit. So they would be naturally interested in more efficient chips.

Currently, a lot of cost associated with maintaining servers is that of air-conditioners,

which are responsible for keeping the machines at close to zero degrees Celsius. Any

breakthrough which results in obviating this limitation would greatly improve the

productivity of the firm.

Broader Portfolio of micro-processorsAs has been pointed out earlier, Intel is focussing on high-power microprocessors with

increasing numerical precision. However, there is a fast-increasing market for application-

specific micro-processors. To tap this segment, Intel can target a 1000X improvement in

efficiency in the chips over a period of 10 years, i.e. a 100X improvement each year. This way,

Intel remains poised to take advantage of the explosion in demand for electronic devices used

for automation.


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EXHIBITS

Exhibit 1: Company timeline

1. 1968Bob Noyce and Gordon Moore leave Fairchild semiconductor and incorporate Intelco. Venture capitalist Arthur

Rock contributes $10,000 and raises additional capital by selling convertible debentures and is named as chairman.

2. 1969Intel announces its first product3101 Schottky bipolar RAM

3. 1971Intel launched its first microprocessor 4004, and goes public at @25.50 per share and raises $ 6.8 million

4. 1972Intel expands its product line by launching first commercial 8-bit microprocessor8008.

5. 1976The faster Intel 8085 microprocessor is launched and worlds first microcontrollers are launched by Intel 8748

and 8048.

6. 1978Introduces 8086 16-bit processors (most modern day processors have descended from this design).

7. 1980 Intel microcontrollers where the bestselling controllers in the world. Intel, DEC and XEROX announce co-

operative Ethernet projectthe inception of LAN.

8. 1982Intel launches the powerful 80286 microprocessor as the PC industry grows at the highest growth rate.

9. 1983Intel passes USD 1 billion dollar revenues.

10. 1985,1986 Company enters parallel supercomputers business. The US-Japan semiconductor trade agreement is

signed opening Japanese markets to US semiconductor manufacturers.

11. 1988Intel enters flash memory business.

12. 1992Intel becomes the largest semiconductor supplier in the world according to Dataquest.

13. 1993Intels Pentium processor arrives. Intel brand is the third most valuable in the world.

14. 1998Intel launches Celeron for value PC market.

15. 2000Company emphasis in wireless networking grows with the launch on Intel xScale and Pro/Wireless LAN cards.

16. 2001- Intel strengthens its position in server computing market with improved Intel Itanium and Xeon.

17. 2003- Intel enters into mobile computing marketlaunches Intel PXA800F, and Intel Centrino for laptops.

18. 2005- Apple plans to transition all Macs to Intel microprocessors. Intel realigns to bring all major product groups in

line with companys strategy to drive development of computing technology platform based on Intel ingredients.

19. 2006Intel launches worlds first Quad-core processor. Launches its new branding strategyIntel. Leap ahead.

20. 2008Intel celebrates 40 years in innovation and unprecedented achievements.

21. 2009Intel launches Atom processors for netbooks and net-tops. Craig BarrettIntel chairman retires after 35 years

of service to Intel.


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Exhibit 2: Intel Leadership

Paul S. Otellini - Paul S. Otellini is president and chief executive officer of Intel Corporation. He became

the company's fifth CEO on May 18, 2005, succeeding Craig R. Barrett. Otellini previously had served as

Intel's president and chief operating officer, positions he held since 2002, the same year he was elected

to Intel's board of directors.

Andy D. Bryant - Andy D. Bryant is executive vice president, Technology, Manufacturing and Enterprise

Services, and chief administrative officer of Intel Corporation. He is responsible for technology

development and manufacturing, financial operations, human resources, information technology and e-

business functions and activities worldwide.

Sean Maloney - Sean Maloney is executive vice president and Chairman of Intel China. Prior to his

current role, Maloney served as co general manager of the Intel Architecture Group since September

2009. He has been with Intel since 1982.

David Perlmutter - David (Dadi) Perlmutter is executive vice president and general manager of IntelCorporation's Intel Architecture Group (IAG). He is responsible for Intel's platform solutions for all

computing segments including data centers, desktops, laptops, netbooks, handhelds, embedded

devices, and consumer electronics.

Arvind Sodhani - Arvind Sodhani is executive vice president of Intel Corporation and president of Intel

Capital. Sodhani was elected vice president by the board of directors in May 1990, served as senior vice

president from 2005 to 2007 and was promoted to executive vice president in December 2007.


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Exhibit 3: Intel and AMD Balance sheets

Dec 2010 Dec 2009 Dec 2008 Dec 2007

Assets

Cash and Equivalents 5.50B 3.99B 3.35B 7.31B

Receivables 2.87B 2.27B 1.71B 2.58B

Inventories 3.76B 2.94B 3.74B 3.37B

Other Current Assets 6.71B 5.46B 4.34B 3.96B

Total Current Assets 31.61B 21.16B 19.87B 23.88B

Property, Plant & Equipment, Gross 50.48B 47.82B 48.09B 46.05B

Accumulated Depreciation & Depletion 32.58B 30.60B 30.54B 29.13B

Property, Plant & Equipment, Net 17.90B 17.22B 17.54B 16.92B

Intangibles 0.00 0.00 775.00M 0.00

Other Non-Current Assets 9.14B 10.29B 8.59B 10.93B

Total Non-Current Assets 31.58B 31.94B 30.84B 31.77B

Liabilities & Shareholder Equity

Total Assets 63.19B 53.10B 50.72B 55.65B

Accounts Payable 2.29B 1.88B 2.39B 2.36B

Short Term Debt 38.00M 172.00M 102.00M 142.00M

Other Current Liabilities 0.00 86.00M 0.00 339.00M

Total Current Liabilities 9.33B 7.59B 7.82B 8.57B

Long Term Debt 2.08B 2.05B 1.89B 1.98B

Deferred Income Taxes 926.00M 555.00M 46.00M 411.00M

Other Non-Current Liabilities 1.43B 1.20B 1.88B 1.93B

Minority Interest 0.00 0.00 0.00 0.00

Total Non-Current Liabilities 4.43B 3.80B 3.81B 4.32B

Total Liabilities 13.76B 11.39B 11.63B 12.89B

Preferred Stock Equity 0.00 0.00 0.00 0.00

Common Stock Equity 49.43B 41.70B 39.09B 42.76B

Common Par 16.18B 14.99B 12.94B 11.65B

Additional Paid In Capital 0.00 0.00 0.00 0.00


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Cumulative Translation Adjustment 0.00 0.00 0.00 -2.00M

Retained Earnings 32.92B 26.32B 26.54B 30.85B

Treasury Stock 0.00 0.00 0.00 0.00

Other Equity Adjustments 333.00M 393.00M -393.00M 263.00M

Total Capitalization 51.51B 43.75B 40.97B 44.74B

Total Equity 49.43B 41.70B 39.09B 42.76B

Total Liabilities & Stock Equity 63.19B 53.10B 50.72B 55.65B

Total Common Shares Outstanding 5.51B 5.52B 5.56B 5.79B

Preferred Shares 0.00 0.00 0.00 0.00

Treasury Shares 0.00 0.00 0.00 0.00

Basic Weighted Shares Outstanding 5.56B 5.56B 5.66B 5.82B

Diluted Weighted Shares Outstanding 5.70B 5.64B 5.75B 5.94B

Number of Employees 82500 79800 83900 86300

Number of Part-Time Employees 0 0 0 0

Company Cash Flow

Dec 2010 Dec 2009 Dec 2008 Dec 2007

Cash Flow From Operating Activities

Net Income (Loss) 11.46B 4.37B 5.29B 6.98B

Operating Gains/Losses -348.00M 170.00M 1.70B -178.00M

Extraordinary Gains / Losses 0.00 0.00 0.00 0.00

(Increase) Decrease In Receivables -584.00M -535.00M 260.00M 316.00M

(Increase) Decrease in Inventories -806.00M 796.00M -395.00M 700.00M

(Increase) Decrease In Other Current Assets 0.00 299.00M 0.00 -1.43B

(Decrease) Increase In Payables 407.00M -506.00M 29.00M 102.00M

(Decrease) Increase In Other Current Liabilities 214.00M 247.00M -569.00M -248.00M

(Increase) Decrease In Other Working Capital 834.00M -241.00M -830.00M 633.00M

Other Non-Cash Items 919.00M 1.25B 1.62B 1.40B

Net Cash From Continuing Operations 16.69B 11.17B 10.93B 12.62B

Net Cash From Discontinued Operations 0.00 0.00 0.00 0.00


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Cash Provided By Investing Activities

Net Cash From Total Operating Activities 16.69B 11.17B 10.93B 12.62B

Sale of Property, Plant & Equipment 0.00 0.00 0.00 0.00

Cash Used for Investing Activities

Sale of Short-Term Investments 21.98B 7.76B 0.00 8.01B

Purchases of Property, Plant & Equipment -5.21B -4.52B -5.20B -5.00B

Acquisitions -218.00M -853.00M 69.00M -44.00M

Purchases of Short-Term Investments -26.62B -8.66B 0.00 -11.73B

Other Cash from Investing Activities -498.00M -1.90B -876.00M 294.00M

Cash Provided by Financing Activities

Net Cash From Investing Activities -10.54B -7.96B -5.86B -9.93B

Issuance of Debt 0.00 1.98B 0.00 0.00

Cash Used for Financing Activities

Issuance of Capital Stock 587.00M 400.00M 1.10B 3.05B

Repayment of Long-Term Debt -157.00M -87.00M -40.00M 0.00

Repurchase of Capital Stock -1.74B -1.76B -7.20B -2.79B

Payment of Cash Dividends -3.50B -3.11B -3.10B -2.62B

Other Financing Charges, Net 167.00M 9.00M 212.00M 364.00M

Net Cash From Financing Activities -4.64B -2.57B -9.02B -1.99B

Effect of Exchange Rate Changes 0.00 0.00 0.00 0.00

Net Change in Cash & Cash Equivalents 1.51B 637.00M -3.96B 709.00M

Company Income Statement

Dec 2010 Dec 2009 Dec 2008 Dec 2007

Sales 43.62B 35.13B 37.59B 38.33B

Cost of Sales 10.51B 10.55B 12.13B 13.65B

Gross Operating Profit 33.11B 24.58B 25.46B 24.69B

Selling, General, and Administrative Expenses 6.31B 7.93B 5.46B 5.40B

Research & Development 6.58B 5.65B 5.72B 5.76B

Operating Income before D & A (EBITDA) 20.23B 10.99B 14.28B 13.53B


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Depreciation & Amortization 4.64B 5.05B 4.62B 4.80B

Interest Income 119.00M 168.00M 592.00M 804.00M

Other Income - Net -10.00M -4.00M -1.85B -223.00M

Special Income / Charges 0.00 0.00 0.00 0.00

Total Income Before Interest Expenses (EBIT) 16.04B 5.70B 7.69B 9.18B

Interest Expense 0.00 1.00M 8.00M 15.00M

Pre-Tax Income 16.04B 5.70B 7.69B 9.17B

Income Taxes 4.58B 1.34B 2.39B 2.19B

Minority Interest 0.00 0.00 0.00 0.00

Net Income From Continuing Operations 11.46B 4.37B 5.29B 6.98B

Net Income From Discontinued Operations 0.00 0.00 0.00 0.00

Net Income From Total Operations 11.46B 4.37B 5.29B 6.98B

Extraordinary Income/Losses 0.00 0.00 0.00 0.00

Income From Cum. Effect of Acct. Change 0.00 0.00 0.00 0.00

Income From Tax Loss Carryforward 0.00 0.00 0.00 0.00

Other Gains / Losses 0.00 0.00 0.00 0.00

Total Net Income 11.46B 4.37B 5.29B 6.98B

Normalized Income(Net Income From Continuing Operations,Ex. Special Income / Charge) 11.46B 4.60B 6.00B 7.26B

Preferred Dividends

Net Income Available To Common 11.46B 4.37B 5.29B 6.98B

Basic EPS from Continuing Ops. 2.06 0.79 0.93 1.20

Basic EPS from Discontinued Ops. 0.00 0.00 0.00 0.00

Basic EPS from Total Operations 2.06 0.79 0.93 1.20

Basic EPS from Extraordinary Inc. 0.00 0.00 0.00 0.00

Basic EPS from Cum Effect of Accounting Change 0.00 0.00 0.00 0.00

Basic EPS from Tax Loss Carryf'd. 0.00 0.00 0.00 0.00

Basic EPS from Other Gains (Losses) 0.00 0.00 0.00 0.00

Basic EPS, Total 2.06 0.79 0.93 1.20

Basic Normalized Net Income/Share 2.06 0.83 1.05 1.25

EPS fr Continuing Ops. 2.01 0.77 0.92 1.18


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EPS fr Discontinued Ops 0.00 0.00 0.00 0.00

EPS fr Total Ops. 2.01 0.77 0.92 1.18

EPS fr Extraord. Inc. 0.00 0.00 0.00 0.00

EPS fr Cum Effect of Accounting Change 0.00 0.00 0.00 0.00

EPS fr Tax Loss Carfd. 0.00 0.00 0.00 0.00

EPS fr Other Gains (L) 0.00 0.00 0.00 0.00

EPS, Total 2.01 0.77 0.92 1.18

Diluted Normalized Net Inc/Shr(Net Income From Continuing Operations,Ex. Special Income / Charge) 2.01 0.81 1.04 1.23

Dividends Paid per Share 0.63 0.56 0.55 0.45


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http://www.intc.com/strategy.cfm

http://in.finance.yahoo.com/q/bs?s=INTC&annual

http://www.urgenttermpapers.com/intels.html

http://blogs.intel.com/technology/2008/09/competitive_advantage_brings_i.php

http://www.intc.com/intelAR2010/business/competition/index.html
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