Company's target markets are small business and household products that are personal computers, printers, cameras etc.
This company is founded by the Bill Hewlett and David Packard Mr. Mark V. Hard is the Chairman, CEO and president of the company. Headquarter of the company is located in Palo Alto, California, United States. Main competitor o the company is IBM. In 2006 the annual revenue of the company was 91.7 US $ and in comparison to HP the IBM's revenue for the same year was 91.4 US $. This excess of revenue made the HP one of the largest technology vendors across the world. (In terms of sales)
In the financial year 2007, third Quarter results posted revenues between $103 and $103.2 billion. According to this result, HP would become the world's first IT Company who crossed the $100 billion revenue mark. HP is also ranked first in global personal computer shipment. In this, HP beat its competitors with about 3.5% market share lead.
Values, norms and beliefs of the organization represent the culture of the organization. Corporate culture is determined by the senior management. A unique management style is developed by the founders of the HP Company, Bill Hewlett and David Packard. They named it HP Way. According to Mr. ...
Company has trust and respect for persons.
Company's center of attention is high level of attainment and contribution.
Carry out business with uncompromising honesty.
Attain common objectives by teamwork.
Encourage flexibility and advancement. (The HP Way, 2005).
Vision of the Hewlett Packard
Aspirations, expressed as strategic intent, should lead to an end; otherwise they would just be castles in the air. That end is the vision of an organization.(Kazmi A., 2002)Vision of the Hewlett Packard is that the next generation of data centers would operate with less energy and almost without people. (Darlin, D. 2006)
HP's mission statements or corporate objectives
Customer Loyalty: Deliver more value to customers by providing high quality products, services and solutions in order to earn respect and loyalty. (Corporate Objectives, 2007) The main belief of HP behind this objective is that the reason of the continuous success is increased customer loyalty.
Profit: In terms of profit, company's objective is to attain the adequate profits so that company would be able to finance its growth and create value for company's shareholders and arrange the resources which are essential to accomplish other corporate objectives.
Market Leadership: Grow in its business, by providing the useful and important products, services and solutions to existing markets. Capture new areas which are based on competencies, technologies and customer interests.
Growth: Changing market conditions are viewed as opportunities to grow, to utilize the earnings and capability to develop and create innovative products, services and solutions which satisfy the rising requirements of the customer.
Employee Commitment: By providing