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Hewlett-Packard Company: Corporate Audit The Comp

Hewlett-Packard Company: Corporate Audit

Hewlett-Packard was founded in 1938 by two Stanford engineers in a garage in Palo Alto, California. The initial investment was $538. The first product was an audio oscillator, eight of which were purchased by Walt Disney Studios for the production of Fantasia. The company made electronic testing equipment and successfully marketed this during World War II. Revenue increased to near $1 million by 1943, and the company expanded 50 to 100 percent per year during the 1950s. In 1972 Hewlett-Packard was a pioneer in personal computing by developing the first hand-held scientific calculator. Computers would account for half the company's revenues by the late 1970s. The company became a leader in the computer workstation market. The original business of test and measurement equipment is now minuscule next to the computer business, all based on technological innovations and innovative marketing strategies that took advantage of a growing need. Hewlett-Packard today is the dominant company in producing laser and inkjet printers, and it is second only to Sun Microsystems in the RISC-based workstation market. Hewlett-Packard's RISC chip is used by competitors Oki, Hitachi, Samsung, and Convex Computer. The company also makes networking devices, medical electronic instruments, disk drives, and calculators. The company is dedicated to R&D and benefits greatly from the money it invests on new product development (Wilsher, 1992: 52).

Clearly, technology is one area of innovation that supports the success and evolution of the Hewlett-Packard Company. The products that the company has developed have been such as to take advantage of business and personal needs. Personal computers have been one of the great business success stories of the last quarter century. The money spent on R&D by Hewlett-Packard shows that the company remains committed to technological innovation and believes that it can...

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