Hp Way Book Review

BOOK REVIEW ON

Presented By: Group – 12 Aishwarya Verma (08PG0033)

INTRODUCTION The

“HP Way” is a exemplary success story of two young American boys. How they have transformed a two member partnership company operating in a garage in year 1939 at Palo Alto into a global limited company having offices in more than 110 countries and annual revenue of $22 billion. The book also illustrate how they have contributed towards advancement of science & technology in 20th century ;

ABOUT THE AUTHOR  Born

Mr. David Packard ( 1912 – 1996)

in year 1912 in Pueblo Colorado.  Boyhood was filled with hunting, fishing, school athletics, and “scientific” experiments.  An Electrical Engineer post graduate from Stanford university.  Worked for GE from year 1934 to 1938.  Highly skilled in Manufacturing process.  Strong believer in the line “ What we can contribute”.

Core values of HP Existence

to make technical contribution. Expectations from employeesSuperior performance and profitable growth Blend of right people,trust,empowerment to achieve objectives. Commitment to community Integrity

Before HP…. Right

from school days he had fascination towards electronic & mechanical equipments , making explosives. An all-rounder ,through his field games helped him become a better team player. In 1929 entry into Stanford university Met Prof.Fred Terman and Bill

In

1938,started operation HP In 1989,the HP garage was designated the California state historical landmark as the birthplace of silicon valley.

The HP Way…. First

product launched was Audio Oscillator and the first customer was Walt Disney. Focused on continuous product innovation and development. Fellowship program at Stanford to promote HP R&D Treaty of Rome- expansion into foreign markets. Product line comprised of variable & fixed frequency oscillators,

Went

public in 1957 and in 1961 HP got listed in New York and pacific stock exchanges. First joint venture with Yokogawa electric works to form YHP. Alpha computers,HP 35 pocket calculator launched in 1972. In 1984,laser jet printer was introduced in collaboration with canon.

HP Management Style Dedication

to making a contribution coupled with commitment. Strong R&D efforts has always been the driving force behind product contribution. Profit reinvestment rather than longterm debt. Employee involvement through employee stock purchases,MBO Commitment to innovation. Flexitime,open door policy –trust in

Customer

orientation.

MBWA Does

not believe in HIRE n FIRE policy Participatory management. Promotes entrepreneurship spirit. Decentralization –lower level decision making

Quality Driven HP Quality

circle- people work effectively in informal circles. Maximum conformance to accuracy Layout facility-inspection and assembly layout next to each other Won Deming prize in 1982.

Learnings  Teamwork

+ willpower = success  Pursue your interests and remain focused.  Never attempt more than what you can handle.  Employees and customers-an integral part of organizational success.  View profit as a result, not an objective in and of itself  To be innovative promote Independence (flexitime), team work & learning ( supporting higher education program).

Guidelines

for future entrepreneurs Networking – success mantra As future managers ,we must not dictate to our subordinates ,instead provide opportunities.

Current Scenario HQ:

Palo Alto ,California. Currently operates in more than 170 countries Serves 1 billion customers. Employees- 3,21,000 Ranked 9 in fortune 500. 2008 annual revenue- $118.4 bn

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