Dell 2011 Annual Report Download - page 54
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Table of Contents
Risk Factors Affecting Our Business and Prospects
There are numerous significant risks that affect our business, operating results, financial condition, and prospects. Many of these risks are beyond our control.
These risks include those relating to:
• intense competition;
• our reliance on vendors for products and components, including reliance on several single-source or limited-source suppliers;
• our ability to achieve favorable pricing from our vendors;
• adverse global economic conditions and instability in financial markets;
• our ability to manage effectively the change involved in implementing our strategic initiatives;
• successful implementation of our acquisition strategy;
• our cost efficiency measures;
• our ability to manage solutions, product, and services transitions in an effective manner;
• our ability to deliver quality products and services;
• our ability to generate substantial non-U.S. net revenue;
• our product, customer, and geographic sales mix, or seasonal sales trends;
• the performance of our sales channel participants;
• access to the capital markets by us and some of our customers;
• weak economic conditions and additional regulation affecting our financial services activities;
• counterparty default;
• customer terminations of, or pricing changes in, services contracts, or our failure to perform as we anticipate at the time we enter into services contracts;
• loss of government contracts;
• our ability to develop, obtain or protect licenses to intellectual property developed by us or by others on commercially reasonable and competitive terms;
• infrastructure disruptions;
• cyber attacks or other data security breaches;
• our ability to hedge effectively our exposure to fluctuations in foreign currency exchange rates and interest rates;
• expiration of tax holidays or favorable tax rate structures, or unfavorable outcomes in tax audits and other tax compliance matters;
• impairment of our portfolio investments;
• unfavorable results of legal proceedings;
• our ability to attract, retain, and motivate key personnel;
• our ability to maintain strong and effective internal controls;
• our compliance with current and changing environmental and safety laws or other regulatory laws; and
• the effect of armed hostilities, terrorism, natural disasters, and public health issues.
For a discussion of these risk factors affecting our business, operating results, financial conditions, and prospects, see “Part I — Item 1A — Risk Factors.”
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