Microsoft Corporation is a multinational software company founded in 1975 by Bill Gates and Paul Allen. Microsoft develops a wide range of products including Windows, Xbox, Surface, and Office. The company's vision is to create software experiences across devices using the power of the internet. Microsoft faced challenges from competitors offering cheaper and free software alternatives. In response, Microsoft diversified its products and introduced new free offerings to remain competitive in the market. The strategy included hiring Stephen Elop to help transition the company's focus to cloud-based services and software delivery through internet platforms.