Company: Dell Inc.
Founder: Michael Dell
Industry: Computers and Information Technology
Michael Dell was still a college student in University of Texas (Austin Campus) in 1984 when he founded the company that would soon become Dell Inc. With a startup capital of only $1000, the company, named PC’s Limited, operated from Michael’s dorm room at Dobie’s Center.
Initially, the company’s goal was to sell IBM PC-compatible computers made from ordinary stock parts. Dell believed that direct contact with customers would help him know and understand their needs and provide better solutions and services. After receiving $300,000 from his family to expand his enterprise, Dell dropped out of school and gave more attention to his business.
PC’s Limited successfully created their proprietary model in 1985, which ran on an Intel 8088. The Turbo PC was the company’s first success, earning more than $73 million during its first year. Aside from the model, PC’s Limited’s scheme of selling them directly to consumers at a very low price contributed to their success.
The company’s name was changed to Dell Computer Corporation in 1988. Employing Internet technology, Dell began selling its computers through their website in 1996. Three years after, Dell became the world’s leading computer brand in terms of sales and profit, overtaking long-time leader Compaq.
In 2002, Dell tapped into the multimedia and entertainment industries by producing its own line of televisions, handhelds, and portable music players. A year later, the company’s name was changed to Dell, Inc. in recognition of the company’s expansion beyond the PC industry.
At present, Dell, Inc. is one of the world’s leading manufacturers and sellers of computers and other computer-related products (second to Hewlett-Packard). They have 95,000 employees and made $57.095 billion in revenue in 2007.
Dell Incorporated Board of Directors
· Michael Dell – CEO and co-Chairman of the Board (previously Chairman of the Board)
· Don Carty – CFO and co-Chairman of the Board (previously Board member)
· Michael R. Cannon – former CEO of Solectron, as President, Global Operations
· Ron Garriques – formerly headed Motorola’s mobile phone unit, as President, Global Consumer Group
· Stephen F. Schuckenbrock – Senior Vice President, Global Services
· William H. Gray, III – Governance and Nominating; Leadership Development and Compensation
· Sallie L. Krawcheck – Finance; Governance and Nominating
· Alan G. Lafley – Leadership Development and Compensation (Chair), Finance