IBM 2002 Annual Report Download - page 20

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deliver consistent, long-term earnings growth in
an industry that is constantly evolving. We believe
investors reward companies that manage for the long
haul, run highly efficient operations and are man-
aged by experienced and disciplined leaders. And, at
a time when industry growth projections are highly
unreliable, investors reward companies that outper-
form their competitors—no matter the rate at which
the industry is growing or contracting. This is why
we have made marketshare a top priority.
I joined a company that was the place to work.
It was progressive, fair and principled, and it
invested in its people and their development. All
of that stemmed from the commitment to have the
best talent in the world, a commitment we reaffirm
today. How you achieve that with programs and
benefits depends on the times. As the composition
of the workforce and their expectations changed,
so did IBM, often far ahead of other companies or
government mandates.
We know that employees today value flexibility
and mobility, yet they want to feel part of a team,
a community of colleagues. They value skill
enhancement, but they want lifelong learning, not
just classroom training. Most of all, while they are
attracted to IBM’s breadth and global presence,
they don’t want to get lost in a big company.
They want to make a difference, have impact. All
of this represents opportunities for us once again
to innovate as an employer.
Finally, we need to adapt if we aspire to be a
respected and engaged participant in our communi-
ties. This is more, far more, than philanthropy—
although IBM takes a back seat to no one in contri-
butions and volunteerism. (IBMers volunteered four
million hours last year.) It’s about building relation-
ships based on respect, trust and integrity—IBM’s
bedrock values. And it’s about using our remarkable
scientific, managerial and analytic assets—some of
the best minds on the planet—to help local, national
and international communities solve problems and
stimulate economic growth.
Right now, we have as many questions as
answers, and more a sense of where we must go as
a company than a clear path to get there. Yet we
believe these are all appropriate and worthy aspira-
tions for IBM and IBMers. They are consistent with
the kind of company we want to be and have been
for most of our history. This is IBM’s DNA. The
challenge, of course, is to bring the best of that for-
ward without for a moment taking our eye off the
customer, marketplace execution and strong results.
In the end, this goal of leadership, broadly
defined, is what makes our company unique.
It’s why people come to work at IBM—and why
millions more have wanted to be associated with it.
There are certainly many places where a person
can earn a very good living and build a highly grat-
ifying career. You come to a big, complex company
like ours if you want to be part of something
whose impact is larger. And you come to this
particular enterprise to be part of something
whose impact will last, a company that explores,
a company that matters.
That was the company I joined 30 years ago.
Yes, the world has changed, and there’s no going
back. But my 316,000 colleagues welcome the
challenge. We are determined to make IBM a truly
great company—a great partner, investment and
employer—for our generation and for our times.
samuel j. palmisano
Chairman, President and
Chief Executive Officer
chairman’s letter