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This process is intended not only to confirm facts but also to uncover contingent liabilities. Large contingent liabilities make it more difficult and perhaps impossible to close transactions.In the biopharmaceutical area, compliance concerns are now a serious contingent liability that cannot be overlooked by a company. Compliance concerns include the failure of a company to have a compliance program in place or to comply with all applicable laws.

Personally, I think differently. First, Kim and Mauborgne talked about differentiation and innovation on the levels of strategy and business model, while most traditional occupation with differentiation and innovation has been focused on the level of products or brands. But more importantly, the Blue Ocean thinkers honed a major observation regarding the nature of business competition.

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First, we are fine tuning our strategies to adjust to the evolving consumer. Consumers have clearly changed their behavior in the current environment and to succeed, companies must maintain strong brands, deliver value at various price points, and drive demand in targeted and creative ways. This included developing innovative new products and targeted brand building programs to fuel consumer demand.Second, we are significantly reducing cost structure and enhancing our supply chain flexibility to be responsive to consumers and economic trends.And third, recognizing cash is king in this environment.