Hewlett-Packard Corporation has proven that innovation is key, and even with a few years of a steady, and sometimes drastic, decline in revenue and profit, there can be light at the end of the tunnel. HP has gone through 4 CEOs in 8 years which has caused changes in environment, culture, and the trust of stockholders and investors. However, current CEO Meg Whitman has a positive outlook. In the last year since her start with HP, she has implemented a four year restructuring plan. The restructuring plan will be discussed in detail in this paper as it is a vital part of Hewlett-Packards situation financially and in the Market. When the economy is in a recession, all industries suffer. For a company like HP, the down market mixed with the increasing rate of technological advances, it is a double hit. HP has been the leader in PC manufacturing for over 70 years and is still one of the top in the industry.
The future of HP looks promising. Faith in HP has been shaken over the last 5 years but with Meg Whitman on board, her experience and knowledge will be a much needed change for the company. In this paper, the strategic innovations for a changing market will be discussed in detail with what HP has in store for its future and how the company will rise in hard times. Also discussed will be the tactics that have already been put in place by HP including new products that will, in hopes, positively change their image. Human Resource Management and its role in meeting strategic goals will be described and if investing in HP as a mutual funds manager would be beneficial. The goal of this paper is to analyze HP and their business processes and how they cope and adjust to a changing market.
Strategic Innovations for a Changing Market
The global economy has been down the past few years causing HP to re-evaluate their plans for…...