IBM is short for International Business Machines Corporation and it's a USA multi-national company which specializes in designing and manufacturing high-tech products. The company was formed way back in 1911. However, it was initially named CTR (Computing Tabulating Recording).
During 1924, it got its current company name. These days, IBM reigns as one of the world's most famous corporations. It's synonymous with computers.
How Did the Company Start?
To trace the beginnings of IBM, we need to travel back in time to the 1880s. During this pivotal time period, the framework for IBM was laid down. A computing scale was patented, a dial recorder was invented and a machine for tabulation which was electric was created. As well, a time clock came into being. The companies which produced these cutting-edge designs got together and formed CTR, which later became IBM.
It was a large company right from the start, which employed thirteen hundred staff members, via an array of plants and offices in the Binghamton and Endicott regions of New York State. As well, the company had operations set up in a host of other places, from Toronto, Canada to Detroit, Michigan to Dayton, Ohio to Washington, D.C.
The first designs produced by this legendary company were scales for commercial usage and time recorders for industrial applications. As well, cheese and meat slicers were manufactured, in addition to punched cards and tabulator machines.
The company's corporate culture was always formal. Its representatives were known for their sharp suits and their professional mannerisms. The corporation was all about technology and its workers were encouraged to have modern images and to provide customer service which impressed.
Today, IBM is known for its cloud computing products and its mobile technology products and services. The company received the National Medal of Technology and Innovation during 2009. In terms of niches, the company is involved with commerce, data and analytics, IT infrastructure, the Internet, cloud computing, mobile, security and cognitive computing.
Naturally, the company is also world-renowned for its computers and gaming consoles.
This company has such a long and esteemed history. It's a perfect example of American ingenuity. In addition, the company, although it has weathered hard times in the past, is currently very profitable. It earned almost eighty billion dollars in revenue during 2016.
The Company Trades Publicly
People may purchase a piece of IBM by buying its shares. They are traded via the New York Stock Exchange.