1. mid-level staff that's not technical, unable to get results quickly (one tends to get that mentality from massive open-ended consulting engagements w/o clear success metrics in place)
2. surreal TV ads aside, their brand is not visible on a daily basis, there's no consumer offering with IBM logo on it
3. there is no modern cloud offering (Softlayer ain't one)
4. their marketing of Watson has been so extreme, and so out of touch with technical realities, it's becoming a liability
1. solid mainframe business (yes)
2. massive customer list
3. significant infrastructure (softlayer etc) that could be turned into a cloud offering
4. huge long-term consulting engagements that can turn into success stories, if run by ppl capable of delivering quick results
One more thing I would do if I were CEO - I would come up with a way to put that IBM logo in front of people... Perhaps something along the lines of "Alexa for business", based on IBM's flavor of business AI.
Of course, the new direction he set them on (stop developing innovative things, focus instead on high-margin consulting and services) is the one everyone's complaining about now. So...