In contrast, strategic mistakes can be expensive. Once a leading technology company,
Hewlett-Packard was known for innovation, resulting in superior products. The “HP way
of management” included lifetime employment, generous benefits, work/life balance, and
freedom to explore ideas, among other perks. However, HP has not been able to address
the competitive challenges of mobile computing or business IT services effectively. As a
result, HP’s stakeholders suffered. Shareholder value was destroyed. The company also
had to lay off tens of thousands of employees in recent years. Its customers no longer
received the innovative products and services that made HP famous