American Economic History by James S. Olson & Abraham O. Mendoza

Author:James S. Olson & Abraham O. Mendoza [Olson, James S. & Mendoza, Abraham O.]
Language: eng
Format: epub
ISBN: 9781610696982
Published: 2015-03-23T16:00:00+00:00

INTERNATIONAL BUSINESS MACHINES

International Business Machines (IBM) originated in 1911 with the formation of the Computing-Tabulating Recording Company. Thomas Watson* took over the company in the early 1920s, renaming it International Business Machines and pioneering in the development of the first electric typewriter and in a series of special time clocks. The company grew rapidly, and in 1951, Watson made the decision to take IBM into the new field of computers. Because of its size and cash reserves, IBM was able to invest heavily in research and development*. IBM had excellent marketing capabilities and made a commitment to the repair and servicing of its own equipment. The company quickly became the leading institution in the computer industry. Ever since then, IBM has been the world’s largest producer of data processing equipment. In the late 1980s, however, IBM profits fell because of intense competition and. because its own huge bureaucracy had become too cumbersome. In 1991, IBM launched a drastic decentralization program to give its major units complete managerial independence. In 2005, IBM sold its personal computer business. By 2013, IBM’s narrower focus on hosting and consulting services, software and hardware specialized for companies, and other innovations on cutting-edge technologies kept the company profitable.

Reference

Nancy Foy, The Sun Never Sets on IBM, 1975.

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