International Business Machines Corporation
The International Business Machines Corporation (IBM) had previously started as the Computer Tabulating-Recording Company (C-T-R) created by Hermann Hollerith. The company was later sold to Charles Ranlett Flint, known for building large monopolies. C-T-R became part of a group of companies involved in manufacturing and selling calculating, weighing and communication equipment. Under the leadership of a new manager, Thomas J. Watson, the name of the company was changed to the International Business Machines Corporation (IBM) in 1924.
IBM became a major designer and manufacturer of main frame computers and relied on this area of computing whilst competition grew in the area of personal desk top computers. The slow move away from mainframes almost caused the company to fold due to the great financial loses it was suffering. In 1993 IBM appointed a new CEO to stabilise the company then turn around its fortunes. Louis Gerstner Jr stopped the company losing money and developed it into a global services industry by providing tailored services to companies requiring more than just hardware.
This approach worked and after acquiring companies specialising in software development and global communication systems developed these areas further and this resulted in an increased presence in the international marketplace. The increase in revenues allowed IBM to address the growing need for a new generation of mainframe computers whilst at the same time investing in microelectronics research and manufacturing. The IBM brand name was another area the company concentrated on and has successfully implanted the brand name in the minds of consumers across the globe.
The company has become more adept at addressing changes in computing and associated network developments and continues to grow and lead in new areas of business and domestic technology.