Wang Laboratories: Rise and Fall Overview

Study Notes

Founded by An Wang, a Chinese immigrant who earned a PhD at Harvard.
Gained prominence with its magnetic storage device, which was crucial to computers before memory chips.
Achieved significant market success with the first desktop calculator in 1964.
Experienced rapid growth with its Wang Word Processing System, which dominated the software market between 1977 and 1982. Sales increased tenfold and the workforce expanded from 4,000 to 25,000 employees.
Failed to adapt to the growing popularity of personal computers (PCs) in the 1980s. Its specialized word processors and mid-sized computers couldn't compete with IBM and its imitators.
An Wang, influenced by his Chinese family-centered values, appointed his son, Fred, as president in 1986. Many board members disagreed, believing Fred was not qualified.
During Fred's three-year tenure, the company introduced no new products and accumulated nearly $1 billion in debt.
Wang Laboratories entered bankruptcy proceedings in the early 1990s after failing to adapt to industry changes and the consequences of Fred Wang's presidency.

An Wang: Founder of Wang Laboratories, a visionary leader who built the company into a multi-billion dollar enterprise.
Fred Wang: Appointed president by his father, but his lack of experience and the company's lack of innovation led to significant financial losses.
Richard Miller: Took charge after An Wang's death and attempted to revitalize the company by shifting towards compatible personal computers and striking a deal with IBM.
Joseph Tucci: Recruited to lead Wang Laboratories in 1993 and recognized the need for a complete transformation of the company away from its focus on integrated hardware and software.