Management Of Change: Term Paper

4165 words - 17 pages

IntroductionIn the beginning of the company's history the founders did not focus on growth per se, but focused instead on manufacturing quality products. Choosing not to compete on price, the company concentrated on developing advanced products adapted to customers' needs. In 1957 the company was divisionalized along product lines in an attempt to decrease spans of control and to simulate the ideal aspects of small business units within a global corporation. They planned to give considerable operating freedom to the managers of these business units, but to do so within a set of commercial and management guidelines.Over the last twenty-five years Hewlett Packard has grown at least tenfold. In retrospect, current senior management believe that culturally they had become both complacent and paternalistic, and an implicit policy of no redundancy had become established in the minds of employees. However, by the late 1980s Hewlett Packard faced the same difficulties as its competitors, including increased competition; sluggish markets, decreasing profitability, and a declining stock market valuation. Yet by February of 1994, the group was recording a 41 per cent rise in first-quarter net profits. In 1993 the UK subsidiary increased its turnover by 43 per cent, generating profits of $85 million compared with a break-even position in 1992.A number of factors appear to have contributed to this turnaround. Apart from market changes, new product launches, and cost-cutting measures, the level of bureaucracy within the company was also attacked. A company that had been started by entrepreneurial engineers, advisers urged that it had become too centralized. In addition, new ideas were being squashed if they appeared too unorthodox. Hewlett Packard's response was to return to a decentralized structure that gave freedom back to the individual business units. This decentralization arguably helped one business division to take off in business terms and capture a significant proportion of a new product market.Hewlett Packard is a company for the 21st century. HP,(Hewlett Packard) uses its technological advances to heal, educate, and connect people worldwide. It is one of the world's largest computer companies and the foremost producer of test and measurement instruments. The company's more than 29,000 products are used in industry, business, engineering, science, medicine and education. In its 1997 fiscal year HP had a net revenue of $42.9 billion, which puts it at 14 on the Fortune 500 list. Among the top 10 U.S. exporters, 56 percent of HP business comes from outside the United States. Japan, Canada, Australia, the Far East, Latin America and Europe all count on Hp for their needs. (Hewlett Packard Site). HP is No. 5 among Fortune's Most Admired Companies and No. 10 among Fortune's Best Companies to Work for in America. (Fortune Site). Headquartered in Palo Alto, California, the company employs more than 120,000 people, of whom some 69,000 work in the United...

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