David Packard: Speech to HP Managers

I’m glad to have this opportunity to get together with you and discuss how each of us can do our job more efficiently because as the company grows I think this is going to be crucial in determining whether we are able to continue to grow and keep an efficient organization and maintain the character of our company which we think is important… I want to discuss why a company exists in the first place. In other words, why are we here? I think many people assume, wrongly, that a company exists simply to make money. While this is an important result of a company's existence, we have to go deeper and find the real reasons for our being. As we investigate this, we inevitably come to the conclusion that a group of people get together and exist as an institution that we call a company so they are able to accomplish something collectively which they could not accomplish separately. They are able to do something worthwhile-they make a contribution to society (a phrase which sounds trite but is fundamental). In the last few years more and more business people have begun to recognize this, have stated it and finally realized this is their true objective. You can look around and still see people who are interested in money and nothing else, but the underlying drives come largely from a desire to do something else-to make a product-to give a service-generally to do something which is of value.