Since the beginning, IBM has been viewed as the backbone into the field of Information Technology. Leading the market in technology, it has provided services to different sectors ranging from mainframe computers to nanotechnology. This report aims to highlight IBM’s use of technology to manage through the challenges that were forced upon companies during the Global Financial Crisis (GFC) from 2007-2009. It explores how IBMs response to the GFC was mainly focused around the concept of ‘Smarter Planet’, which was the use of Smart Technology as the company’s effort preserve costs and improve profit levels to maintain innovativeness and competitiveness within the market.
Furthermore, a discussion into the use of technology both pre and post GFC …show more content…
Where the stock markets crashed, and financial markets became very unstable (Google Finance, Yahoo Finance & MSN money 2016). Additionally, IBMs stock drastically declined from 113.24 to 80.59 from August 2007, to December 2008 (IBM 2009). Despite the plummet of their common stock towards the end of 2008, IBM’s financial status remained constant and managed to break their gross profit earning by 16.1% (IBM 2008). Their success was mainly contributed by their softwares, services and financing. IBM managed to survive to the global financial crisis by, ‘…saving money, preserve capital and reduce cost’ (IBM 2008, p. …show more content…
Additionally in Smarter Money, IBM assisted in microfinance, to provide the lesser wealthy community sectors with unsecured loans globally, and also to financial services to support businesses through such as business installment loans (IBM 2009). Smarter telecommunications provide traditional telecommunication services such as the implementation of the atlantic 's cables across the continents connecting the Internet from America to Asia (IBM 2009). Through this concept, it helped IBM with real-time communications globally
Furthermore, a discussion into the use of technology both pre and post GFC …show more content…
Where the stock markets crashed, and financial markets became very unstable (Google Finance, Yahoo Finance & MSN money 2016). Additionally, IBMs stock drastically declined from 113.24 to 80.59 from August 2007, to December 2008 (IBM 2009). Despite the plummet of their common stock towards the end of 2008, IBM’s financial status remained constant and managed to break their gross profit earning by 16.1% (IBM 2008). Their success was mainly contributed by their softwares, services and financing. IBM managed to survive to the global financial crisis by, ‘…saving money, preserve capital and reduce cost’ (IBM 2008, p. …show more content…
Additionally in Smarter Money, IBM assisted in microfinance, to provide the lesser wealthy community sectors with unsecured loans globally, and also to financial services to support businesses through such as business installment loans (IBM 2009). Smarter telecommunications provide traditional telecommunication services such as the implementation of the atlantic 's cables across the continents connecting the Internet from America to Asia (IBM 2009). Through this concept, it helped IBM with real-time communications globally