The Decline and Fall of IBM: End of an American Icon? [NOOK Book]

Overview

IBM is in serious trouble. Big Blue, as the company is known, tends to rely for its success on magical thinking but that magic ran out a long time ago. The company got in trouble back in the 1990s and had to hire for the first time an outside CEO, Lou Gerstner, to save the day. Gerstner pushed IBM into services with spectacular results but this hurt the company, too. As services have became commoditized IBM could only compete by offshoring the work and quality suffered. The other negative impact of Gerstner was ...
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The Decline and Fall of IBM: End of an American Icon?

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Overview

IBM is in serious trouble. Big Blue, as the company is known, tends to rely for its success on magical thinking but that magic ran out a long time ago. The company got in trouble back in the 1990s and had to hire for the first time an outside CEO, Lou Gerstner, to save the day. Gerstner pushed IBM into services with spectacular results but this hurt the company, too. As services have became commoditized IBM could only compete by offshoring the work and quality suffered. The other negative impact of Gerstner was his compensation which was for the first time in IBM
history very high. Only the Watson family had become rich running IBM with later CEOs like John Opel and John
Akers living comfortable lives with lots of perks, but they never got BIG RICH. That changed with Gerstner.
Sam Palmisano an IBM lifer followed Gerstner as CEO and followed, too, the Gerstner playbook. Palmisano retired three years ago with a retirement package worth $241 million, replaced by IBM's first woman CEO, Ginni Rometty, who certainly expects a comparable golden parachute. In order to achieve these numbers, though, IBM has essentially sacrificed both its customers and employees. In order to have ever growing earnings per share the company has cut labor to the bone, off-shored everything it can, dropped quality, deliberately underbid contracts to win them then not performed. IBM's acquisition policy is one of buying companies to get their sales then cutting costs to the bone and under-delivering. This and share buybacks have kept earnings growing until this house of cards recently began to fall.
Ginni Rometty, who will end up taking the fall for Palmisano's flawed strategy, has stated a very specific earnings goal for 2015 that she will destroy the company to achieve if she must. This book how IBM fell from grace, where it is headed, and what specifically can be done to save the company before it is too late.
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Product Details

  • ISBN-13: 9780990444411
  • Publisher: NeRDTV, LLC
  • Publication date: 6/2/2014
  • Sold by: Barnes & Noble
  • Format: eBook
  • Pages: 246
  • Sales rank: 57,712
  • File size: 2 MB

Meet the Author

Robert X. Cringely has been a Silicon Valley journalist and character for more than 30 years. An early employee of iconic companies including Apple and Adobe Systems, Cringely began his career as an engineer then transitioned into reporting and analysis, first at InfoWorld and since 1997 as one of the first Internet bloggers, first at pbs.org and now at cringely.com. His work has appeared in magazines and newspapers throughout the world including Forbes, The New York Times, Newsweek, MIT Technology Journal and many others. In addition to InfoWorld he has worked as a columnist for Inc. and Worth magazines and ASCII magazine in Japan. His previous book, Accidental Empires, was published in 18 languages. His television documentaries made primarily for PBS and UK Channel 4 have aired in more than 60 countries. Cringely lives in Santa Rosa, California with his lovely wife and three young sons.
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  • Anonymous

    Posted July 18, 2014

    Interesting Book

    I work in the industry so I found the book interesting. Other than size, you could substitute IBM for any number of the other services and technology companies that area making short sighted decisions and are losing their identity in the quest for ever cheaper labor.

    A couple of critiques on the book itself. The author is a blogger, so the book read, and probably is, a compilation of his blogs. That makes it feel a bit scattered. Also, the book could have really been a pamphlet because so much information is repeated, and the last half of the book is just comments from readers of his blog. The section that bothered me the most was his "what IBM needs to do" chapter. I appreciate he has suggestions, but there is nothing that I see in his background that would suggest he has the experience or qualifications to tell someone how to run a company.

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