History and Business Goals of Hewlett-Packard
This paper illustrates the historical and business goals of the technology company Hewlett-Packard. A breakdown of the roots and beginnings of the company is provided along with business techniques the founders have implemented to create this successful company.
Hewlett -Packard Company(HP) is an American technology corporation that was founded by William Redington Hewlett and Dave Packard. Both had graduated from Stanford University with degrees in electrical engineering. The "company" started up with the aid of their mentor and professor Fredrick Terman in a fellowship during the Great Depression. What began as an idea in Packard's garage in Palo Alto, California with an initial capital investment of $538 turned into a multinational information technology corporation with annual revenue of $40 million (Pimental, 2012). Their first financially successful invention was an audio oscillator, the Model HP200A. The use of an incandescent light bulb allowed them to sell their model for cheaper when competitors were selling similar less stable oscillators for three times their price. Walt Disney Productions was one of HP's first customers which purchased these oscillators for their sound systems when the movie Fantasia premiered (Takahashi, 2003).
Hewlett-Packard did not begin with a set goal or direction but instead worked on several types of electronic products. In the years between 1940 and 1990 they worked mainly with test electronics such as voltmeters and oscilloscopes in which they enhanced accuracy, precision, and sensitivity. In the 1960's HP expanded their business into Japan by forming a joint venture with the Yokogawa Electric company to market HP products (Berger, 1988). It was unfortunately not successful due to the heavy finances required to build the products in Japan.
The founders, known by friends and workers as Bill and Dave,...
Please join StudyMode to read the full document