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COMMODORE INTL. 1 Running Head: COMMODORE INTL COMMODORE INTL. 1 Running head: COMMODORE INTL. Commodore International: The rise and fall of a major corporation - How leadership failed Hans Petter Flaaten Hawai’i Pacific University Summer 2007 COMMODORE INTL. 2 Commodore International: The rise and fall of a major corporation Introduction Commodore International is the name of an American electronics company that was a vital player in the field of personal computers in the 1980s and early 1990s. Commodore was the first to provide a low-cost computer to the masses, the first to sell one million computers, and the first to arrive with a real multimedia computer (Bagnall, 2005). They still hold the record for most units sold of a single model of computer in the Guinness Book of Records (Kotadia, 2003). Commodore was extremely successful and their technology was way ahead of their competitors during their golden era. However, something happened and they fell as hard as they had once risen: In 1994, Commodore filed for bankruptcy (Bagnall, 2005). What had happened? The need. Commodore International went from being the leader in the field of home computers to total bankruptcy. One of the reasons for this fall was bad management (Bagnall, 2005). The reason for this report is to investigate exactly what caused the company to crash, what faulty decisions were made by the management to cause the crash, and the useful lessons that can be learned from this experience. Statement of research problem. What was the problem with the management and leadership of Commodore that resulted in their bankruptcy? Beneficiaries. This executive report will benefit leaders, managers, and decision-makers. The story of Commodore is an excellent example of how bad management can send a thriving, successful company, way ahead of its competitors, to fall heavily into bankruptcy. Methods for investigation and analysis. The accuracy, meaningfulness, and credibility of the research will be based upon peer-reviewed articles and scholarly books, thus preserving the validity and reliability of the findings (Leedy, 2005). COMMODORE INTL. 3 History The story of Commodore International, also known as Commodore Business Machines (CBM) is a chapter in computer history that has been overlooked; Commodore has been largely discredited as a pioneer, leaving names like Microsoft, IBM, and Apple, in the focus of early computer history (Halfhill, 1994; Bagnall, 2005). In his book, On the Edge, Brian Bagnall (2005) tells the true story of Commodore and its rise and fall. The beginning. The story of Commodore starts with its founder, Jack Tramiel, an Auschwitz’ survivor who later moved to New York to become a typewriter repairman in the Bronx. He founded Commodore in 1958 and started manufacturing typewriters. A Canadian venture capitalist, Irving Gould, was made partner in order to save the company from going out of business when their funding company, Atlantic Acceptance Corporation, went bankrupt in 1965 (Loomis, 1998). Silicon Valley. The electronics revolution was under way and setting up in Silicon Valley in the 1960s. Commodore started making electronic calculators with Texas Instruments (TI) as supplier of semiconductor chips. The calculators were extremely popular, but also self- destructive for Commodore when TI back-stabbed them by producing the calculators themselves at much lower prices, thus pushing them out of business. Tramiel vowed to never again be at the mercy of a vital supplier (Loomis, 1998). Commodore entered the microcomputer market in 1977 at the same time as Apple and Tandy. Being at the forefront of the revolution, they almost entirely drove out the competition the next few years by combatively pushing down prices. This was all due to Tramiel's hard, but successful, leadership . His slogan “computers for the masses, not the classes” became famous at the time (Halfhill, 1994; Loomis, 1998; Bagnall, 2005). COMMODORE INTL. 4 Success. The share price that had been $2.50 at the startup in 1962 had climbed to $1.200 by 1983 (Loomis, 1998). The success was largely due to the “Commodore 64” (C64), which is also referred to as the “Model T Ford” of the home computer movement, because it was, just like the T Ford, the first an average person on average income was able to afford buying because of its low price (Swenson, 1999). The success of Commodore was significant, and also highly visible; Irving Gould ordered a jet-plane for the company, making them the first microcomputer company to own a corporate jet. However, he really purchased this jet for personal use, to accompany his very expensive lifestyle (Bagnall, 2005). Tramiel had his expensive addiction in classic cars, but still lived a more normal lifestyle compared to Gould (Loomis, 1998). Time of struggle. Jack Tramiel got out of Commodore in 1984 after a clash with his partner, Irving Gould. By this time, the home computer market was struggling, and in order to make Commodore more profitable, Tramiel's replacement, Marshall Smith, took to downsizing and cutting the payroll by more than 45%. Another replacement CEO, Thomas Rattigan, further cut costs and closed three plants in order to stabilize Commodore's position. The company was just keeping afloat in the years 1985-1987 (Bagnall, 2005). CEO's were flying in and out, closing plants and cutting staff. It is highly likely that this led to a low morale among the employees (Bagnall, 2005). The power of macroeconomics is always at work and push organizations to “reduce costs, improve the quality of products and services, locate new opportunities for growth, and increase productivity” (Kotter, 1996, p.3). Commodore's software market, largely run by third-party vendors, was starting to hurt during the mid-eighties due to the massive amount of piracy (Swenson, 1999). The piracy was, COMMODORE INTL. 5 undoubtedly, one of the reasons to a gradual decline of the Commodore software industry (Swenson, 1999). In the computer business, change is constant. This can be depicted through Moore's Law which states that the power of microprocessor technology doubles and the related costs of production are cut by half every 18 months (Moore, 1965). As identified by Kotter (1996), one of the four major forces driving the need for a major change in a business is technological change. Technological change was prominent, but Commodore failed to keep up (Bagnall, 2005). Vision is essential because it simplifies thousands of more detailed decisions. It also helps to motivate people to move in the right direction and coordinate them in a remarkably fast and efficient way (Kotter, 1996). Commodore's leadership failed to have vision; they should have said “here we are now, but this is where we want to be”, and made the necessary adjustments in their business strategy. They lacked a vision, which is extremely essential when leading change: Vision is essential because it simplifies thousands of more detailed decisions. It also helps to motivate people to move in the right direction and coordinate them in a remarkably fast and efficient way (Kotter, 1996). Instead, Commodore's board of members were rapidly firing and hiring new CEO's, trying to find someone who could make the company more profitable (Bagnall, 2005). The final decision was Mehdi Ali, who came in and made some fatal decisions (Bagnall, 2005). What made Commodore fall. Poor marketing, poor support, poor management, lack of dominance in the business sector, competition from other gaming consoles, and a general growing competition, all led to Commodore's downfall (Swenson, 1999). Near the end, the company executives took out disproportional large salaries. Gould's COMMODORE INTL. 6 yearly salary was $3.500.000, and Mehdi Ali's was $1.000.000. These ridiculously high salaries was a clear indication that the leaders did not care about the company, especially when this happened in a period where Commodore could not even come up with money to buy parts from their suppliers (Bagnall, 2005). Commodore also failed to keep up with technology; they were not longer at the cutting edge, largely due to the fact that the management team, led by Mehdi Ali, demanded enormous cuts in research and development (R&D). R&D is at the very heart of a technology business' lifeline, and this fatal decision made Commodore lack behind the competition. Another sign that employees were discontent with their leadership was prominent in an exit-interview related to lay-offs: Many employees were asked what they disliked most about Commodore, and several invariably mentioned the CEO, Mehdi Ali (Bagnall, 2005). Kotter identifies eight mistakes in his book Leading Change (1996). These eight mistakes are: (1) Allowing too much complacency. (2) Failing to create a sufficiently powerful guiding coalition. (3) Underestimating the power of vision. (4) Undercommunicating the vision. (5) Permitting obstacles to block the new vision. (6) Failing to create short-term wins. (7) Declaring victory too soon. (8) Neglecting to anchor changes firmly in the corporate culture (Kotter, 1996). The consequences following these eight mistakes include: (1) New strategies are not implemented well. (2) Acquisitions don't achieve expected synergies. (3) Reengineering takes too long and costs too much. (4) Downsizing doesn't get costs under control. (4) Quality programs don't deliver hoped-for results. Commodore leadership decisions' can be seen in the perspective of Kotter's eight mistakes: They allowed for too much complacency and lacked a strategy, thus they failed to create a strong guiding coalition. Instead, CEO's were hired and fired rapidly (Bagnall, 2005). COMMODORE INTL. 7 They highly underestimated the power of vision, mostly due to the fact that they didn't even have a clear vision. Short-term wins failed, highly due to bad marketing decisions like selling old hardware in new wrapping, “same shit, different wrapping”. Last but not least, changes were not firmly anchored in the corporate culture, Strategy The Technology Adoption Life Cycle (TALC) is a model that displays how communities respond to discontinuous innovations (Moore, 2002).
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