IBM 2014 Annual Report Download - page 2

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Dear IBM Investor:
The cover of our report to you last year asked: “What will we make
of this moment?”
This was the critical and urgent decision that we — and our clients — faced.
Would we seize upon the major shifts that are reordering our industry and
opening up vast new applications of information technology?
In my letter, I described our answer:
• IBM would help transform industries and professions with data.
• We would remake enterprise IT for the era of cloud.
• We would reimagine work by helping clients build systems of
engagement, underpinned by the imperative of security.
At the same time, we would address significant challenges in some of
our businesses, principally hardware.
We knew we faced a critical year of transformation. It proved to be just
that. The work of transforming IBM continues, and much remains to
be done. But I am pleased to report that we made significant progress
and built momentum in 2014.
In this letter I will describe what we have done, and continue to do,
to transform and differentiate your company and to position ourselves
for leadership in the new era now taking shape.
1A Letter from the Chairman