Michael: During the past five years we've become a different company. The services and solutions within Dell have doubled and now account for 30% of our revenue. We have focused in on being an end-to-end solutions provider for our customers. We're moving from product conversations with our customers to solutions conversations. You'll hear us talk more about the connected client devices. Then you have the cloud infrastructure of servers, storage and networking. We want to help our customers figure out how to tap into their data and leverage it. You'll also see us focusing in on security. You then wrap our services offering around all of this. 

Karen: Talk with us about growth areas for the company

Brian: Geographically, there's a focus on growth countries and we're trying to invest ahead of the game. These key areas for us grew at 12% last year. The U.S. now represents less than 50% of the revenue for the company. In EMEA, despite the tough market, we saw 8% growth in Q4, led by Germany. 

Karen: Share some thoughts about investments in our end to end capabilities

Michael: We start with the strategy and we look for what types of capabilities we want to have. Our industry is constantly changing and being unencumbered by legacy approach, we have the ability to look for the technologies that will win and invest there. Our acquisitions have mapped nicely back to that strategy. Look at the data center, it is becoming more and more compute focused. The line between servers and storage is disappearing. The converged architecture gives us new ways to use the date. We have an incentive to do what our competitors don't want to do. We have the capital, brand, trust to provide IT solutions to the market that are needed.

Brian: We're much more aggressively focused on M&A and R&D. We're building out many new solutions centers. The R&D total was up about 40% last year. We didn't want IT off working on an IT strategy that didn't align to the business strategy. We've created a business architecture team within Dell that will help us avoid playing the catch up game. We're very focused also on leveraging the technology we're bringing into the portfolio. We've taken IT from a reactive group to a front-end group involved in the business strategy.

Michael on SMB: We are at a tipping point with our channel partners right now as you look at all the acquisitions we've made. Our program allows our partners to make money. It's not a question of if you're going to partner with Dell, it's a question of when you're going to based on the breadth of our solutions we're offering. Every time we've added an acquisition, we've made it part of our Partner Direct program. I believe partners look at us as reliable. Plus, who has the breadth of solutions that we have? It's a nice complement to what we do.

Innovation has moved from the back office to the front office and has matured to the point where you can mix components together in unique ways to solve problems. Both organic and inorganic components to solve customer solutions. We've always prided ourselves on listening -- and it started in Michael's dorm room listening to what customers needed. We've taken listening to a whole new level, particularly with our social media efforts.