Hewlett Packard Lauren Hanrahan MGT 331-07

Hewlett Packard Lauren Hanrahan MGT 331-07 - Running Head...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
Running Head: Hewlett Packard Hewlett Packard Research Paper MGT 331-07 Due: 11/30/2010 Lauren Hanrahan [Type text]
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
2 Hewlett Packard Abstract The recent recession that occurred from July, 2008 to June, 2009 effected America in the worst way. The economic decline showed Americans just what the severe impact of inflation can have. Not only did Americans personally suffer, but businesses in general were devastated. Many companies around America looked for various ways to survive. Companies explored cost cutting methods, many resorting to cutting employees. Among these businesses, was Hewlett Packard. Throughout this report, it will be explained how such a prosperous and successful company has overcome the recent recession. Many companies cut costs in various ways. In Hewlett Packard’s situation, they cut their employees. Company Background Hewlett Packard was founded in 1939 by William Hewlett and David Packard; it was later incorporated in 1947. With headquarters located in Palo Alto, California, Hewlett Packard is one of the largest providers of many technologies such as laptops, desktops, digital cameras, printers, smart phones, and an assortment of software and support programs. The technological industry is rapidly growing and introducing new technologies, and Hewlett Packard actively strives to keep up with that. Hewlett Packard is ranked second in the computer hardware industry in terms of sales; right behind International Business Machines. The company’s revenue for 2010 reached just over 123 billion dollars (Yahoo Finance, 2010). Considering that Hewlett Packard is a very successful and powerful international company, I am choosing to explore HP at a more national level. Introduction
Background image of page 2
3 Hewlett Packard Stated in Hewlett Packard’s goals is the comment, “We demonstrate our commitment to employees by promoting and rewarding based on performance and by creating a work environment that reflects our values” (Saunders, 2009). The economic recession that took place only a few years back really had a negative effect on American businesses. It is difficult for a company as large as Hewlett Packard to continue to make usual profits during hard economic times, particularly between July, 2008 and June, 2010. Hewlett Packard is a major supplier of products to companies rather than solely to individuals. They mainly supply technical support and PCs to large companies around the world. When the recession took its toll on many big companies, these companies were not in the financial position to buy assorted Hewlett Packard products. To prepare for this rough patch, HP had to do some serious brainstorming in order to remain successful. To profitably survive the recession, Hewlett Packard’s then CEO, Mark Hurd decided that a major cut in employees and salaries would be the companies’ best option in order to beneficially endure the recession.
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page1 / 15

Hewlett Packard Lauren Hanrahan MGT 331-07 - Running Head...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online