In 1914, Thomas J. Watson joined the company as general manager. During Watson's first four years, revenues doubled to $2 million. He also expanded the company's operations to Europe, South America, Asia and Australia. In 1924, to reflect C-T-R's growing worldwide presence, its name was changed to International Business Machines Corp., or IBM.

On August 12, 1981, IBM executives held a press conference in New York to introduce a momentous new computer- the IBM Personal Computer, or the PC, as it became known. This was the culmination of many events at IBM over the previous few years.

The PC business required something different. This new market was moving quite fast, and a new entrant would have to move quickly. Apple, Tandy and Commodore had all produced ground-breaking machines during the previous two years. Any computer from IBM would need to target individuals as well as businesses, even if the ultimate aim was to continue to sell

In 1993, IBM's annual loss hit $8 billion. One insider, now a top executive at another tech company, says that in its darkest hour IBM had to borrow money to make the payroll.

With its e-sourcing program, a part of its global services division, IBM aims to build all IT services into a utility, delivered like electricity and water. In other words, customers would pay for memory, application use, and computing power as they're used, and only when they're used.

During the 1980s and early 1990s, IBM was thrown into turmoil by back-to-back revolutions. The PC revolution placed computers directly in the hands of millions of people. Businesses' purchasing decisions were put in the hands of individuals and departments - not the places where IBM had long-standing customer relationships. Piece-part technologies took precedence over integrated solutions. The focus was on the desktop and personal productivity, not on business applications across the enterprise. As a result IBM started to lose money for the first time ever.

Perhaps the business world was again ready for integrated IT solutions. Perhaps it was Gerstner's emphasis on keeping an ear to the ground to detect customer needs or his

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Approximate Word count = 805
Approximate Pages = 3 (250 words per page double spaced)