Company Overview: IBM is a global IT company headquartered in Armonk, New York. It has over 430,000 employees and provides a wide range of IT products and services, including computer hardware, software, infrastructure, hosting, and consulting. IBM is known for its extensive research laboratories and a long history of patent generation. History: IBM originated from the merger of three separate companies in 1911 and adopted its current name in 1924. Over the years, IBM has transitioned from a focus on manufacturing to providing services and solutions. Notable acquisitions include SPSS and Cognos in 2009 and SoftLayer Technologies in 2013. Strategic Initiatives: IBM's strategic direction has shifted towards big data, cloud computing, and systems of engagement. Big data is a major focus, with significant investments, acquisitions, and partnerships aimed at becoming a leader in the field. Cloud computing is another key initiative, with IBM acquiring cloud-based firms, including SoftLayer. Systems of engagement are centered around social interaction products and services. Competition: IBM faces competition from companies like Hewlett Packard (HP) and Accenture. HP is known for its cloud, big data, and security solutions, while Accenture is a management consulting and technology company. IBM is larger than both HP and Accenture combined