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Cognex Corporation
"Work Hard, Play Hard"
"To preserve and enhance vision," recited Bill Silver with his hand held vertically on the bridge of his nose, as he entered the office of Robert Shillman. With his usual smile, the CEO looked up from the Cognex Corporation's 1998 Annual Report and returned the corporate salute, adopted from "The Three Stooges.. Silver, the Vice-President of Research and Development, joined Shillman to discuss the future of Cognex Corporation, the company they started together 18 years ago. In spite of its leading position as a manufacturer of machine vision systems, Cognex has hurdled over changes in the industry in recent years. It has survived an industry shakeout of competitors in the early 1990sand managed to sustain stable growth during the slump of the semiconductor industry. However, competitors have recently begun to tap into the OEM (original equipment manufacturer) market, the cornerstone of Cognex's business, and have beaten Cognex to the punch......

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Approximate Word Count: 3559
Approximate Pages: 15 (250 words per double-spaced page)

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