Strategic Analysis Of Emc Corp. Essay, Research Paper
I say, Don t put all your eggs in one basket is all wrong. I tell you, Put all your eggs in one basket, and then watch that basket. (Andrew Carnegie, 1885)-Quote in EMC Annual Report
EMC: Mission Statement- To make information accessible across the computing enterprise, regardless of the source or the target.
EMC Corporation, based in Hopkinton, Massachusetts. with 11,200 employees worldwide, is the world s leading supplier of intelligent enterprise storage and retrieval technology. EMC is a Fortune 500 company and was ranked ninth on Business Week s 1998 Info Tech 100 list of the world s best-performing information technology companies. In 1998, EMC had an annual revenue of $3.9 billion. EMC designs systems for open system, mainframe, and midrange environments. EMC is the only company in the world entirely focused on rapidly delivering intelligent enterprise storage and retrieval solutions. This enables companies and organizations to leverage their growing volumes of information into profitability, growth and competitive advantage. EMC Enterprise Storage systems, software products, and services are the leading information access and storage solutions for every major computing platform in today s business enterprise.
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EMC was founded in 1979 by Richard Egan and Robert Marino (the E and M in EMC) as a supplier of add-on memory boards. EMC s rapid rise in the worldwide data storage market began its major surge in 1989, when the company revised its strategy to align itself with businesses growing reliance on increasingly vast and complex amounts of electronic data. In 1990 with the introduction of EMC s Symmetrix product line, EMC became the first company to provide intelligent storage systems based on arrays of small, commodity hard disk drives for the mainframe market. Since the in introduction of Symmetrix technology, more than 30,000 of these systems have been sold around the globe and EMC s annual revenues have grown from $190 million in 1990 to $3.97 billion in 1998. With the introduction of Symmetrix Remote Data Facility in 1994, EMC became the world s leading storage-based solution for business continuity and disaster recovery. EMC s portfolio of storage software includes EMC TimeFinder, EMC Data Manager, EMC PowerPath and Symmetrix Manager. With its $445 million in software revenue in 1998, this makes EMC one of the world s largest and fastest-growing software companies.
The major customers of EMC include the world s largest banks and financial services firms, telecommunications providers, airlines, retailers and manufacturers, as well as governments, universities, and scientific institutions. These customers rely on EMC s innovative storage solutions for such applications as online reservation systems, transaction processing, customer billing, year 2000 compliance, the Internet and corporate intranets, business continuance/disaster recovery, data mining and data warehousing. EMC has also formed alliances with the world s leading software, application and database companies, such as Microsoft, SAP, Oracle, Baan, and PeopleSoft.
EMC is a global organization, and is represented by more than 100 offices worldwide. The company manufactures its products in Massachusetts and Ireland. EMC has R&D facilities in Massachusetts, Colorado, Israel, and France. They also have Customer Support Centers in Massachusetts, Ireland, Japan, and Australia. EMC holds the most strict quality management certification from the International Organization for Standardization (ISO 9001) and its manufacturing operations hold MRP II Class A certification. The company trades on the New York Stock Exchange under the symbol EMC and is a component of the S&P 500 Index.
EMC: Top Level Management
Richard J. Egan- Founder and Chairman Egan is a founder of EMC Corporation.. He has served as Director since the companies inception in 1979. In 1988, Egan brought the company public and was elected Chairman of the Board. He held the position of President and CEO until January 1992.
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Michael C. Ruettgers- President and CEO Ruettgers has held the position of President and CEO of EMC Corporation, since January of 1992. Ruettgers joined the company in 1988 as executive Vice President of Operations and Customer Service, and from 1989 he was EMC s President and Chief Operating Officer.
EMC: Company Timeline
1979- EMC Corporation is founded by Richard j. Egan and Roger Marino in Newton,
Massachusetts in August.
1981- 64 kilobyte chip memory boards are developed for Prime Computers.
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1982- EMC corporate headquarters moves to Natick, Massachusetts.
-Annual sales surpass the $3 million mark.
1984- Five years after the company s founding, annual sales reach $18.8 million, nearly tripling
1985- EMC is first to commercially ship denser memory upgrades using 1-megabit Random
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Access Memory (RAM) technology.
1986- EMC goes public in April; makes initial public offering on the NASDAQ stock exchange.
-Total revenues double over 1985 to $66.6 million; net income more than doubles to $18.6 million.
1987- Corporate headquarters relocates to Hopkinton, Massachusetts.
1988- EMC opens its European manufacturing facility in Cork, Ireland.
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-EMC stock lists for the first time on the New York Stock Exchange in March.
1989- Second major US corporate facility is opened in Hopkinton, Massachusetts.
-EMC develops Direct Access Storage Device (DASD) subsystems with automated error
thresholding for IBM System/38 and AS/400 computers.