Managing an organization also includes managing its assets, both data and financial. Financial management is the art and scien

ECPI

Professor T. Woods

BUS121

Hewlett-Packard (HP) company

Introduction

The study identified Hewlett-Packard (HP) company which deals with computer hardware, computer software, IT services, and consultation. The company is headquartered in Palo Alto, California, the US, and operates globally. According to the company's website, its vision is to create technology that makes life better for everyone, everywhere, every person, every organization, and every community around the globe. The American multinational information technology company was founded by Bill Hewlett and David Packard in 1939. The study chose HP company because it's interesting to understand how it started from a car garage to one of the multinational companies in the US. The company has a fascinating history that everybody would like to know and learn from it. The company became the world's leading PC manufacturer in 2007 up to 2013, when Lenovo overtook it.

The history of HP company.

Hewlett-Packard Company (HP) was founded by Bill Hewlett and Dave Packard in 1939. The world was different since the technology was limited and only available in a few areas. They worked in a garage behind Packard's rented house in Palo Alto, California, after graduating from Stanford University with degrees in electrical engineering. Their initial product was an audio oscillator with a high resistance capacity that was used to test sound equipment. In 1940, the two-plus three other employees moved their services to a building in downtown Palo Alto. During World War II, the head of antiradar projects at Harvard by the name of Terman requested the two-plus other former students to manufacture microwave signal generators for his research. Their company grew from there, and the two shared roles where Hewlett led the technological development while Packard was in charge of management.

HP introduced the HP524A, a groundbreaking high-speed frequency counter, in 1951. In 1959, the company established a marketing office in Geneva, Switzerland, and a manufacturing facility in Böblingen, West Germany, to extend its market share. In 1963 HP company expanded to Japan and worked with Yokogawa Electric Works. In 1966, it opened a central research laboratory, which became one of the world's leading electronic research centers, especially after developing the HP-2116A computer in the same year. After two years, HP developed HP-9100A, the first desktop calculator that could perform scientific functions. In 1972, HP introduced the HP3000 minicomputer making it known and investing more in the computer market.

In 1980, Hp company introduced its first personal computer, the HP-85. The personal computers developed during this period helped the company grow as they were designed for specific tasks. Platt took over as CEO in 1992 and helped the company raise the profit margin of the personal computer market. In 2002, HP agreed to work with Compaq and became a significant producer of desktop computers, laptops, and servers globally. New products such as faster desktops, enhanced notebooks, a workstation, and more advanced software have been developed up to date.

HP company products.

HP company mainly develop and manufacture computers and networking hardware, design software, and deliver IT services where needed. Its main products include personal computing devices, enterprise, and industry-standard servers, related storage devices, networking products, software, and a range of printers and other imaging products. All HP products are branded with a logo that has the initial hp. The company utilizes various marketing methods and channels to reach out to the potential customer. One of them is directly marketing to households, small and medium-sized businesses, and via online distribution. Another way is through consumer electronics and office-supply retailers, while others include partnering with software companies and technology vendors.

Social Responsibility of HP company.

According to HP's website, it practices social responsibility in various ways. Ang (2021) claims that HP was ranked as America’s most responsible company. The company develops and designs products to less negatively impact the environment. Its approach has been industry leadership in sustainability that focuses on reducing greenhouse gas emissions. The company promotes sustainability by all means, which is one act of social responsibility. The management teams sustain a work environment founded on dignity and respect for all employees. It has an Eco-Advocate program, a monthly webcast that educates employees on the green aspects of HP products, operations, and other assets. HP also allows its employees to take time off to do community service.

The company has invested heavily in communities, and together with Aspen Digital, they advocate for the Digital Equity Accelerator to amplify scalable impact in healthcare, education, and economic opportunity. The company has put effort into conserving the environment by launching the HP Sustainable Forest Collaborative, supporting its strategy to create a positive forest future for printing. HP has embraced the power of diversity by creating an inclusive team whereby more than 30 percent of HP’s leaders are women.

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