Hewlett Packard Business Report
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The main purpose of this research project is to provide an in-depth business and marketing analysis on Hewlett Packard (www.hp.com), a Fortune 500 company. Hewlett Packard marketing and distribution businesses compete in both regulated and competitive markets. Hewlett Packard provides both desktop and notebook computers, and computer accessories safely and reliably to their customers while acting in the interest of their communities, employees, shareholders and the environment. Although HP is not the only computer technology producing company on the market today, Hewlett Packard has a diverse, powerful team of 150,000 employees with production or market capabilities in 170 countries doing business in more than 10 different languages. HP invents, engineers and delivers technology solutions to their customers for business and social use.
This research project consists of eight major parts : Executive Summary provides a company overview; Vision, Mission, and Objectives provides the vision, mission and objectives for the company as a whole; Background and Industry provides the current business profile and history of the company; Executive Management provides an overview of senior management; Products and/or Services provides an overview of current products and/or services; SWOT Analysis provides an overview of the companys current strengths, weaknesses, opportunities, and threats; Competition provides an excellent overview of the current competition; and the References provides the reader with referenced material in support of this project.
Hewlett Packard provides technology for business and life. 1HP has a $3.5 billion annual R&D investment that fuels the invention of products, solutions and new technologies, so that Hewlett Packard can better serve customers and enter new markets. HP is committed to providing customers with intuitive, quality products and services that are environmentally safe and to undertake their operations in an environmentally conscience manner. HP strives to provide diverse array of affordable computer technologies, and continue their company motto :”It is necessary that people work together in unison toward common objectives and avoid working at cross purposes at all levels if the ultimate in efficiency and achievement is to be obtained.” -Dave Packard
Vision, Mission, and Objectives
Customer loyalty – To provide products, services and solutions of the highest quality and deliver more value to HP customers that earns their respect and loyalty. HPs success is dependent on increasing the loyalty of their customers. Listening closely to customers to fully understand what it is they need, then delivering solutions that translate into customer happiness. This is essential to earn customer loyalty. Competitive total cost of ownership, quality, inventiveness, and the way HP does business drives customer loyalty.
Profit – HPs goal is to achieve sufficient profit to finance Hewlett Packard company growth, create value for HP shareholders and provide the resources HP needs to achieve their other corporate objectives. Profit is the responsibility of all. Balance of long-term and short-term objectives is key to profitability. Profit allows HP to reinvest in new and business opportunities. Profit is highly connected to generating cash, which brings more flexibility to the business at a lower cost. Profit enables the achievement of HPs corporate objectives.
Market leadership – To grow by continually providing useful and significant products, services and solutions to markets that HP already serves and to expand into new areas that build on HP technologies, competencies and customer interests.
Growth- To view change in the market as an opportunity to grow; to use HPs profits and ability to develop and produce innovative products, services and solutions that satisfy emerging customer needs.
Employee commitment – To help HP employees share in the companys success that they make possible; to provide people with employment opportunities based on performance; to create with them a safe, exciting and inclusive work environment that values their diversity and recognizes individual contributions; and to help them gain a sense of satisfaction and accomplishment from their work.
Leadership capability -To develop leaders at every level who are accountable for achieving business results and exemplifying HPs values.
Global citizenship – Good citizenship is good business. HP lives up to their responsibility to society by being an economic, intellectual and social asset to each country and community that HP does business in. Background and Industry
Bill Hewlett and Dave Packard founded HP in 1939. They knew each other from being fellow Stanford University classmates. The companys first product, built in a Palo Alto garage, was an audio oscillator. Believe it or not, one of HPs first customers was Walt Disney Studios. Disney purchased eight oscillators to develop and test a new sound system for the movie Fantasia. In World War II, the United States Government began having an interest in new technological products. What was a small interest grew into a huge necessity. The governments need for technology helped HP to build its first building and introduce new product lines. HP is incorporated on August 18, 1947. Dave is named president, and Bill vice president.
Hewlett-Packard starts to grow and mature as a company in the 1950s. At this time the company starts offering stock options to employees, something that is very unusual for the time. HP invents the high-speed frequency counter in 1951. Radio stations everywhere use the new frequency counter. The frequency counters will account for billions of dollars in revenues. In 1957 HP becomes a publicly traded company. The corporate objectives are also written at this time, as well as the move/setup of the HP headquarters at 1501 Page Mill Road San Francisco. In 1958 HP acquires its first company, the F.L. Moseley Company. In 1959 HP becomes a global company. The company also gets a foot in the European market.
The Company makes the Fortune magazines list of top 500 U.S. companies in 1962. In 1963 HP gets in the Asian market by forming its first joint venture, Yokogawa Hewlett-Packard, in Tokyo, Japan, with Yokogawa Electric Works. In 1964 HP celebrates its 25th anniversary and Dave Packard is elected CEO while chairman of the board, Bill Hewlett, is elected president. In 1966 HP Laboratories is established as the companys central research facility. HP Labs research includes solid state physics,