Lessons from business of large corporations: HP accepts failure and resigns to compete in the market for tablets and PCs

A story featured in various media the past few days is the HP company has decided to abandon the development of its WebOS system and thereby the commercialization of their tablets that compete with Apple's iPad.

In addition to that news HP would be also looking for a buyer for its Division of manufacturing and sales of desktop computers known as the PCs.

With this HP would be giving a u-turn in its growth and expansion strategy to concentrate more on the software on hardware, turned that it is not strange in the technology industry since it would be a very similar change to which IBM some years ago did when it sold its Division of computers to Chinese Lenovo company factory.

Business lessons that leave us this news

Apart from the news specific of these changes in HP that reinforce the leadership of Apple in the Tablet market, this news leaves us with some lessons for entrepreneurs:

1. Failure is part of all business Failure is always present in any business idea, imagine that HP has the best consultants that money can buy and still failed. The sale of their tablets at the BestBuy store barely reached 10% of the total number of units that were placed in the chain of stores and that while HP dropped the prices of the same.

2. What is important is not failure but the lessons learned of it and correct it as quickly as possible. HP has been able to recognize the failure, it will draw lessons from the same, but more importantly, acted to correct the failure more quickly announcing the closure of the Division for development of the tablets. In other words, in the business there is no room for the pride or egos, if something doesn't work it is best to close it and discard it to not continue losing money.

3. The world is changing and your company should also change. HP. obviously it is in full transformation taking as I said a similar course to the IBM leaving the PCs business to meet the new challenges that presents the world. A few years ago HP bought its competitor PCs Compaq and at that time the purchase was appropriate, today the world has changed and HP begins to change. You with your company for more stable and profitable you can be always must be willing to change if you don't want to disappear. What was good yesterday not necessarily it is today.