Linda S.
Cook
9/10/01
Barry
University, Merritt Island, FL
Program: MSIT
Instructor: Joanna Bass
MIS 675
Strategic Uses of Information Technology
Term Project
Table of Contents
Technical analysis: Internet Business Models
Conclusions and recommendations
This paper presents a detailed case study of Hewlett Packard Company. A brief history of the company and its inventions are delivered to provide the reader with an understanding of HP innovation and leadership in the industry. Also discussed are HP’s business, current revenues, and current environment.
Over the years HP, established in 1939, transformed from a fast moving start up to a lumbering giant. It began losing market share of its major product lines. Carly Fiorina was chosen as CEO to give the company a boost and pull it out of its slump. Ms. Fiorina’s appointment has been steeped in controversy.
Ms. Fiorina’s strategies for Hewlett Packard are discussed. Her strategies for the “new” HP are based on e-business therefore a detailed analysis of HP’s Internet business model is given as discussed in “Essentials of Management Information Systems”, The Internet: Electronic Commerce and Electronic Business, by Laudon and Laudon.
A very recent development, the acquisition of Compaq by Hewlett Packard Company, announced on September 3, 2001, prompted the conclusion and recommendations of this paper. The merger is also steeped in controversy. Neither the market nor the stockholders are reacting positively to the news. Together Compaq and HP will cut approximately 15,000 jobs over the next three years. The two companies face large integration, cultural, and regulation issues in a failing economy.
Research for this study was conducted on-line. Hewlett Packard’s company Web sites were accessed to provide information concerning the company business, products, and strategies. All sources were examined for timeliness, authority, objectivity, accuracy and scope.
Bill Hewlett and David Packard founded Hewlett Packard Company in 1939. Both were engineers. Mr. Hewlett was trained in circuit technology and Mr. Packard was trained and experienced in manufacturing processes. The first product, invented in 1938, was the resistance capacity audio oscillator (HP 200A). Used to test sound equipment this invention offered breakthroughs in size, price, and performance of the technology. Disney ordered eight for the production of Fantasia.
David Packard created the concept of Management by Walking Around (MBWA) in the 1940s. Packard said, "I learned that quality requires minute attention to every detail, that everyone in an organization wants to do a good job, that written instructions are seldom adequate, and that personal involvement needs to be frequent, friendly, unfocused, and unscheduled—but far from pointless. And since its principal aim is to seek out people's thoughts and opinions, it requires good listening." Hewlett Packard established the “Open Door Policy” to ensure that employees felt that their managers were “available, open, and receptive. Open cubicles and executive offices without doors make the policy integral to the HP working environment, (Hewlett Packard, 2001).” “In 1951, Hewlett-Packard's sales were $5.5 million, and the company had 215 employees, (Cranny, 1996).” Hewlett Packard’s company objectives were written in 1957 and combined with HP’s management style to form the “HP Way”. The objectives were used to guide management decision-making. In 1958 HP established a division structure with separate profit-and-loss accountability. Each product group is a “self-sustaining organization responsible for developing, manufacturing and marketing its own products. Any group that grows to 1,500 people is divided and moved to a new profit-and-loss division (P&L), (Hewlett Packard, 2001).” According to David Packard, “the autonomy fosters individual motivation, initiative and creativity, and gives employees the opportunity to work with a wide latitude of freedom in achieving common goals and objectives.” In 1959 Hewlett Packard became Global opening a “large manufacturing facility in Boeblingen, Germany and European headquarters in Geneva, Switzerland, (Hewlett Packard, 2001).”
“By 1965, sales were $165 million with 9,000 employees; the company had gone public and had acquired several smaller entities, (Cranny, 1996).” In 1966 HP Labs was established as the company’s central research facility. In 1967 HP introduced flexible work hours at the Boeblingen, Germany plant. In 1968 decentralization moved decision-making from corporate vice presidents to group general managers who ran divisions with related product lines. The idea was to combine independent operating divisions to form related product groups. HP also introduced the first scientific desktop calculator, the HP 9100.
The world’s first handheld scientific calculator, the HP 35, was introduced in 1972. Hewlett Packard branched out into business computing with the HP 3000 minicomputer introducing the “era of distributed data processing, (Hewlett Packard, 2001)”. Flexible work hours were instituted throughout HP’s U.S. facilities in 1973. “The removal of time clocks represents HP's respect for and trust in people and lets employees meet their personal needs, (Hewlett Packard, 2001).”
In the 1980’s four “sector” organizations were formed to oversee the growing number of P&L groups. Company reorganization placed “all of HP's technical computing activities in the same sector. The high-tech joint venture China Hewlett Packard (CHP) was established. The HP Deskjet Printer debuted in 1988. In 1989 HP celebrated it’s 50th anniversary and the garage where it all started became a California State Historical Landmark. HP introduced HP 9000, the first desktop mainframe. The company entered the printer business with the introduction of the ThinkJet printer and the HP LaserJet. The HP LaserJet became the “world’s most popular personal desktop laser printer and HP's most successful product ever. By mid-1999 HP sold more than 35 million units, (Hewlett Packard, 2001).”
During the 90’s Hewlett Packard’s innovations included The HP 95LX, an 11-ounce palm PC, the HP SONOS 1500 echocardiograph, and the HP Pavilion PC. Intel and Hewlett Packard collaborated to develop a common 64-bit microprocessor hoping to “define computing in the 21st century, (Hewlett Packard, 2001).” Hewlett Packard developed JetSend, an industry standard, allowing wireless interaction between computer peripherals. HP’s hope to produce cheaper more powerful computers is represented by the introduction of “Teramac, a computer architecture that automatically reroutes around defective chips to perform calculations, (Hewlett Packard, 2001).” Teramac uses nanotechnology, chemicals to create circuits, instead of silicon. HP also expanded “its printer business with the HP OfficeJet 700 series, HP's first printer-fax-copier color product, (Hewlett Packard, 2001).” In 1994 HP formalized telecommuting policies encouraging telecommuting around the world. “Employees can work at home or remote HP offices, (Hewlett Packard, 2001).” The result was increased job satisfaction, reduced commute time, flexibility to coordinate personal and work schedules, and lower levels of stress. HP benefited from reduced office-space requirements and improved employee retention. “HP's intranet—the world's largest—links its global operations and ensures communication with employees wherever they are, (Hewlett Packard, 2001).”
Today the corporate headquarters is located at 3000 Hanover Street, Palo Alto, California. As of October 31, 2000, HP employed 88,500 employees worldwide. The company has more than 540 sales offices and distributorships in more than 120 countries.
Carlton (Carly) S. Fiorina was named President, Chief Executive Officer and director of HP in July 1999. She became Chairman of the Board of Hewlett Packard Company in September 2000. Ms. Fiorina is also a member of the Board of Directors of Cisco Systems, Inc. and serves on the U.S. China Board of Trade.
OVERALL COMPENSATION |
||||
|
Fiscal Year Ending: |
Total Annual Comp. |
Long- Term Incentive Plans |
All Other |
Fiscal Year Total |
|
Fiorina,
Carleton S. |
$2,971,363 |
$0 |
$755,266 |
$3,726,629 |
|
Wayman,
Robert P. |
$1,247,883 |
$450,057 |
$47,933 |
$1,745,873 |
|
Livermore,
Ann M. |
$800,984 |
$0 |
$30,625 |
$831,609 |
|
Zitzner,
Duane E. |
$848,900 |
$0 |
$33,407 |
$882,307 |
|
DETAILS OF ANNUAL
COMPENSATION |
||||
|
Fiscal Year Ending: |
Salary |
Bonus |
Other |
Total Annual Comp. |
|
Fiorina,
Carleton S. |
$1,000,000 |
$1,766,250 |
$205,113 |
$2,971,363 |
|
Wayman,
Robert P. |
$845,250 |
$402,633 |
$0 |
$1,247,883 |
|
Livermore,
Ann M. |
$527,084 |
$273,900 |
$0 |
$800,984 |
|
Zitzner,
Duane E. |
$575,000 |
$273,900 |
$0 |
$848,900 |
(yahoo finance)
“Hewlett-Packard Company is a global provider of computing and imaging solutions and services for business and home. The Company's three divisions are Imaging and Printing Systems, Computing Systems, and IT Services, (Multex Fundamentals, 2001).” Its focus is capitalizing on the opportunities of the Internet and the proliferation of electronic services.
“The Imaging and Printing Systems segment provides laser and inkjet printers, copiers, scanners, all-in-one devices, personal color copiers and faxes, digital senders, wide and large-format printers, print servers, network-management software, networking solutions, digital photography products, imaging and printing supplies, imaging and software solutions and related professional and consulting services.
Computing Systems provides a broad range of
computing systems for the enterprise, commercial and consumer markets. HP's
always-on Internet infrastructure offering includes Internet and network
servers, software solutions (for e-services, Internet infrastructure and
management, network management and operating systems), business and consumer
desktop and mobile computers and storage (network-attached storage and storage
area networks), (Multex Fundamentals, 2001).”
HP offers “scalable families of PCs, storage solutions, servers, and
information technology systems, (Multex Fundamentals, 2001)”. Their client base ranges from personal and
small businesses to large-scale global service providers, telecommunications companies,
Internet services vendors and manufacturers.
“HP’s e-services and Internet infrastructure software portfolio is based on a multi-operating system strategy that leverages a suite of integrated applications upon which dynamic e-services can be built, (Multex Fundamentals, 2001).” Customers can choose from HP-UX, Linux, Windows NT and HP’s proprietary MPE for HP 3000 users. HP application software offerings support mission critical implementations. They include e-speak and HP ProcessManager (formerly Changengine), both built on open standards. Also included are OpenView, WebQoS, the Praesidium family of products, Smart Internet Usage, MC/ServiceGuard and Open Call, which provides voice-enabled e-services integration.
Information Technology Services division provides business and strategy consulting, planning, education, design, integration and installation services to get customers up and running. Ongoing support and maintenance, mission-critical support, outsourcing and utility-computing capabilities keep the customer running. “ Financing capabilities include leasing, automatic technology-refreshment services, solution financing, and venture financing, (Multex Fundamentals, 2001).” This allows customers to plan and manage the costs of the solutions provided by Hewlett Packard Company.
For the six months ended 4/30/01, net revenue fell 1% to $23.56 billion. Net income from continuing operations before extraordinary item fell 78% to $360 million. Results reflect lower UNIX and PC server revenues, lower margins and $765 million in special costs. For the 3 months ended 07/31/2001, revenues were $10,147 million; after tax earnings were $103 million. (Preliminary; reported in millions of dollars.)” (Yahoo Finance, 2001)
“E-SERVICES is HP's Internet strategy.” HP believes that “the Internet will evolve from a collection of Web sites accessed via PC to a virtual marketplace of Internet-based services that can be invoked, on the fly, from any device, (Hewlett Packard, 2001).” HP is addressing this evolution of the Net by creating a new generation of e-services, by inventing new devices valued for their "just works" factor, and building the next-generation IT infrastructure required to “support a world where billions of devices are generating trillions of transactions, (Hewlett Packard, 2001).” E-Speak is an Internet software technology platform developed in HP Labs. It is a “service-based interaction model that makes it possible to create, request and locate services on the Net from any device, (Hewlett Packard, 2001).”
“The company launched its printing e-services initiative in April 2000, together with a set of printing e-service providers. HP and partners are developing strategies, printing appliances, and technologies designed to drive printing to the center of the Internet by transforming the role of printers into smart Internet appliances. With these Internet-based services, printers are becoming local post offices, ticket offices, shipping stations and print shops, (Multex Fundamentals, 2001).”
“Hewlett-Packard recognized that alliances were an important element of its value-creation strategy. Through the late 1980's and early 1990's it formed scores of alliances, and senior management assumed that managers were getting up to speed by attending seminars taught by academics and business schools.” Corporate executives did not think about “technology leakage, exit mechanisms, governance issues, or equity commitments. Hewlett-Packard surveyed its managers and found an overwhelming number of them ranked ‘strategic alliances’ as the main area where they wanted more training. According to the managers the external seminars they were attending “were not Hewlett-Packard specific, and there were no best practices or specifics to follow, (Harbison, 1998).” In response Hewlett-Packard initiated best-practice development that is both internally and externally driven. “Internally an in-house best-practice program develops and maintains training sessions, case histories, tool kits and checklists. This material is then reinforced with assessments by alliance partners, comparisons with external best practices of other successful companies, and outside case studies, (Harbison, 1998).” Hewlett-Packard considers its approach to best-practice development as a significant competitive advantage.
Hewlett Packard entered into a cooperative agreement with Heidelberger Druckmaschinen AG in May 2000 to leverage its printing and imaging expertise in the $400 billion commercial printing market. HP also allied with Indigo N.V. a digital color printing systems provider in October, 2000. As part of the alliance Hp “made a $100 million equity investment in Indigo, and agreed to co-develop high-end digital color printing systems and serve as an OEM for Indigo's products, (Multex Fundamentals, 2000).” On September 6, 2001, Hewlett-Packard Company entered into an Offer Agreement with Indigo N.V., a corporation organized under the laws of The Netherlands. This acquisition enables HP to make a major thrust into the commercial printing market, which is ripe for digital transformation.
HP sells printers at slim margins and then makes money from ink and other consumables. “Every second of every day HP makes one new printer and ten new ink-jet cartridges. The company controls 60% of the ink-jet-printer market and 55% of the laser business. Last year HP sold about $9 billion of ink and supplies. Printers carry gross profit margins of 15% to 20%, the margin on ink is 50%. Indeed, ink accounts for most of the company's net profits, (Nee, 2001).”
HP's core computing products and technologies include its PA-RISC architecture for systems and workstations and its Explicitly Parallel Instruction Computing (EPIC) technology, which provides the foundation for Intel's next-generation, 64-bit high-end Itanium processor family, (Multex fundamentals, 2001).”
“Most of the businesses Fiorina inherited are aging or slow-growing or both. HP's biggest unit, the $20-billion-a-year printer and ink group, is based on products developed in 1984. HP's PC business, with revenues of $10 billion, isn't growing at all and is struggling to break even. Software and services are growing, but they make up only 17% of HP's $48 billion in revenues, (Nee, 2001).”
Vyomesh
Joshi, President of imaging and printing operations, predicts that he can boost
HP's printing sales from $20 billion to $30 billion by 2004. He intends to use the Web to prompt
consumers to print maps, photographs, stories, product descriptions, and
e-mail. HP will also need to “break into the commercial market, where the vast
majority of printing still takes place.
Of the 15 trillion pages printed each year in the U.S., only 3.5% are
produced on the sort of desktop printers HP makes, (Nee, 2001).” Joshi is aiming at getting big customers to
transmit digital copies of brochures, magazines, newspapers, etc. to a sales
office to be produced on demand by an HP printer. Customers have been slow to respond. “HP only recently introduced its first digital printer capable of
handling big jobs for a satellite office. The company also faces competition
from entrenched firms like Xerox and Canon, (Nee, 2001).”
Fiorina is launching a program called World e-Inclusion. “Over the next year, HP and its partners will sell, lease, or donate $1 billion in products and services to governments, development agencies, and nonprofit groups in countries like Bangladesh and Senegal. HP is creating simple low-power or solar-powered devices that will connect to the Net wirelessly or via satellite, (Kirkpatrick, 2001).” These systems are aimed at providing “best prices and times to buy or sell crops or animals” to the farmers of the third world. The company is also working with micro-credit experts to improve financing for small entrepreneurs. “Global satellite systems offering wireless broadband Internet access will soon be operational. Speech-recognition software, critical for reaching the illiterate in the Third World, is improving, (Kirkpatrick, 2001).” Digital tools are expensive to develop, but inexpensive to reproduce, “making them well suited for gigantic markets. Fiorina also expects e-Inclusion to improve HP's brand image and market position in developing countries, , (Kirkpatrick, 2001).”
Key competitors are Computer hardware manufacturers like, Sun Microsystems, IBM, Dell, Compaq, Gateway, Apple, Handspring, and Palm. HP is also facing fierce competition from Sony, Xerox, and Canon. Dell Computer, pushing for market-share gains, launched an aggressive price war in the fourth quarter of 2000. “Dell is clearly the low-cost leader. The weak economic environment makes it even more difficult for Dell's competitors to fight back. There is a real risk that Dell's price-war moves will permanently raise the bar in terms of the business model needed to be competitive in the PC industry, (Nee, 2001).”
Hewlett Packard and Compaq announced a merger September 3, 2001. “HP announced plans to buy Compaq for $25 billion in stock. The combined companies would have about $90 billion in revenue, making the new company slightly smaller than IBM, the world's largest computer-maker, (Finny, 2001).” The proposed merger is a strategic move to capture a greater share of the high-end storage market. HP's and Compaq's storage divisions combine to form a $6 billion enterprise.
This merger is also a response to the PC price wars. Dell already has a worldwide share of the home computer market and business market nearly as large as HP and Compaq combined. The merger enables the combination of Compaq’s handheld computer technology and HP’s imaging and printing technology resulting in new products and services for consumers. Because of the price wars and the economy, computer manufacturers have had to cut back on tech support and service. The merger will help HP to improve its customer and support services.
“Companies large and small are using the Internet to make product information, ordering, and customer support immediately available and to help buyers and sellers make contact, (Laudon, 2001).”“In her first year as CEO, Fiorina has seized the reins and begun implementing an Internet strategy that had barely been articulated before she arrived, (Babcock, 2000).”
HP has taken on the roles of banker and investor for start-up companies. The e-services strategy has even moved HP from the role of lender to direct equity holder in promising companies “such as the $14 million it holds in SilverTech, builder of a secure sub-Internet for kids, or the $32 million in Xcelera.com, a supplier of Web content for Internet service providers at decentralized access points, (Babcock, 2000).”
Hewlett Packard’s e-services strategy “revolves around creating and delivering services over the Net. Any asset can be turned into a service for delivery over the Net to create revenue, to drive profit, and to generate efficiency, (hp bluestone, 2001).” The “new” HP “has the ability to deliver a reliable infrastructure for the Web that's manageable for a business, (Babcock, 2000).” Infrastructure on Tap, HP’s new online service, allows a client to deliver services over the Internet without investing in information technology equipment or staff.
E-speak, a high level language created years ago by Joel Birnbaum (Director of HP Labs), has been revived as open source code to win developer support. Rajiv Gupta, general manager of Hewlett-Packard's E-speak language, took the half-formed language and reshaped it into a high-level services language for the Internet economy. Based on Java and eXtensible Markup Language, developers can use E-speak to “quickly construct collaborative online business exchanges. E-speak is designed to automate common services between systems, including searching for the lowest price or prompting anonymous suppliers to bid on a contract. The strategy isn't just talking about selling the E-speak language and computer equipment to existing companies. It's about seeding the next generation of Internet companies by leasing hardware and software on generous terms and financing their start-up costs - up to $2 million, (Babcock, 2000).”
HP WebQOS Web site application monitoring system and OpenView network management system is HP’s answer to ensure their customers will be able to deliver Web service in high traffic conditions. HP has also launched an updated version of HP-UX, version 11i, which introduces partitioning. A “customer may use one set of processors for one purpose and another set on the same server for a different task, (Babcock, 2000).” This keeps the Customer’s Web site from deteriorating in case of an internal application failure. It has built in support for wireless access protocol and can handle calls from wireless devices.
As a supplier of Internet platforms, HP is viewed as a technology integrator because of its support of Unix, Windows NT/2000 and Linux. HP is trying to “position itself as the company for helping a business mature on the Internet, and for integrating and managing systems, (Babcock, 2000).” To accomplish this HP has three initiatives, the ability to deliver highly reliable systems, the eagerness to supply services over the Internet, and the support of the proliferation of mobile devices clients use to stay in touch with the office and associates.
“Businesses pursuing electronic commerce over the Internet need capabilities for displaying product information, accepting payments, and taking orders, (Laudon, 2001).” Businesses also need on-line collaboration with suppliers and distributors. Hewlett Packard’s Internet business model is to provide an end-to-end solution for start-up companies by providing the revenue, consulting services, system design and hardware to get the company started. This establishes customer loyalty and long-term relationships. HP’s Internet business model has also won over customers such as AOL and Amazon.com. Hewlett Packard has embraced the Internet and based its entire business on its support and proliferation.
In July 2000, HP had moved ahead of Compaq in the PC market. HP had found a way to make a profit selling PCs to both businesses and consumers. It was ready to take on Dell for the lead. Dell announced a PC price war in the last quarter of 2000. The economy declined and technology stocks crashed leaving investors $3 trillion poorer.
HP has invested most of its future in Internet e-business strategies. Dell and Gateway turned the PC into a commodity. Companies like Hewlett Packard cannot compete with direct marketing. The company must adapt by focusing on invention, branding, and marketing initiatives. The acquisition of Compaq increases the company’s abilities to become a market leader in printer technology, mobile computing, and storage services. HP sees most of its future revenues coming from its e-business solutions. “The fastest growing area of electronic commerce is not retailing to individuals but the automation of purchase and sale transactions from business to business.
Mergers and acquisitions have been proliferating because they are a major growth engine for businesses. Mergers and acquisitions (M&As) are deeply affected by the organizational characteristics of the merging companies as well as by their information technology infrastructures. One reason M&As fail is because of the difficulty of integrating the systems of different companies. Without successful systems integration, the intended economies cannot be realized, or, worse, the merged entity cannot execute its business processes and it loses customers, (Laudon, 2001).”
Carly Fiorina says, “We take the integration challenge exceptionally seriously. This is a massive integration effort. One could argue it is the largest integration effort in the technology industry and we’re trying to integrate in a very difficult overall environment. Price competition is fierce. Who knows when the economy is going to turn? We at HP are in the midst of a reinvention process. Compaq has been in the midst of its own transformation. Synergies are tough to get. They require decisiveness, they require speed, and they require the tough work of taking people out of the business.”
“More
than 13,000 jobs are to be eliminated as US computer giant Hewlett-Packard
takes over rival Compaq in an attempt to shield itself from the global
high-tech slump, 8500 from Compaq and 6000 from Hewlett Packard. The merger is costing HP over $20 billion,
(BBC, 2001).” Carly Fiorina will remain
CEO and Michael Capellas, Compaq CEO, will become HP president. The companies intend to cut operational
costs by $2.5 billion over the next three years. The merger is not being received well by stockholders. “When combined, the second and third largest
PC makers would overtake Dell Computer as the number one PC maker in terms of
sales, according to Gartner Dataquest. In
the market for computer servers, Compaq ranks first while HP is fourth after
Dell and IBM, (BBC, 2001).”
Hewlett Packard has proven itself to be a leader in technology integration. There is no doubt that it has the technical expertise to accomplish integration goals. The real test will be bringing the two cultures together through the integration and through the bad economy. HP must win the approval of regulators, stockholders, and customers.
Mergers in times of economic troubles are not looked well upon. However, the merger with Compaq answers many business issues. Hewlett Packard dropped to third position in the PC market and lost a substantial portion of the consumer and enterprise market. Its enterprise servers and related corporate equipment has been a money losing business due to strong competition from IBM and Sun Microsystems. The services business, a core part of HP’s strategy objectives for sources of growth has lagged due to the sluggish economy. The merger will establish HP as the #1 player in the PC industry and beef up its position in the enterprise server market enough to pose a real threat to IBM and Sun. Together the two companies have a $15 billion services business as well as a very strong printer business. Hewlett Packard gains top handheld computer, wireless, and mainframe technologies.
In November 1999, with revenues up 10% Carly Fiorina challenged HP employees “to achieve top- and bottom-line growth of 12% to 15%." In May 2000, revenues up 15% she was still confident about HP’s momentum and in August 2000 with revenues up another 15% HP’s stock split 2 for 1 based on that confidence. In November 2000 revenues rose 17% and expected revenue growth for FY 2001 was in the 15% to 17% range. The pre-announcement for quarter 1 in January 2001 stated that revenues were to rise 2% to 6% and Ms. Fiorina announced, “We're not counting on improvement during the first half of our fiscal year." April 2001 revenues actually fell 2-4%. Revenues were down another 6% in May and Carly stated, “We think broadening the revenue range slightly [for Q3] from flat to flat to down 5% is prudent, (Fiorina, 2001).” The June 2001 pre-announcement for quarter 3 is that long-term growth will be at 10 – 12% and "HP is now more cautious regarding its guidance for the third quarter, (Fiorina, 2001)."
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