Growth Strategy

1. Growth Strategy

6. Alternative growth strategy GROWTH OF A FIRM Internal expansion External expansion (1) Differentiation Horizontal expansion (same product, increase in market share) (1) Horizontal integration Mergers of firms producing the same product (2) Vertical integration Different products, but belonging to different stages of same product (2) Vertical integration Mergers of firms producing at different stages of same process (3) Conglomerate Diversification - introduction of totally different products (3) Conglomerate Diversification - merger of firms producing totally unrelated products

13. Mergers and acquisitions involving an EU company Source: European Economy, Supplement A , No 12 - December 2001 (European Commission): based on Table 1 and Graphs 7 and 10

14. Mergers and acquisitions involving an EU company Source: European Economy, Supplement A , No 12 - December 2001 (European Commission): based on Table 1 and Graphs 7 and 10

15. Mergers and acquisitions involving an EU company Source: European Economy, Supplement A , No 12 - December 2001 (European Commission): based on Table 1 and Graphs 7 and 10

17. United, Lufthansa, Singapore, Nippon, Air Canada, US, Varig, bmi, Thai, Air New Zealand, Austrian, Asiana, Tyrolean, Spanair, Scandinavian, Mexicana. American, BA, Qantas, Aer Lingus, Cathay Pacific, Iberia, Finnair, LanChile Air France, Delta, Alitalia, Korean Air, Czech Airlines, AeroMexico Northwest, KLM, Continental, Emirates, Malaysia, Air Pacific, Kenya, South Africa Airline strategic alliances Figures show percentages of total alliance capacity (2003)