That camera led to the creation of what was to become one of the world’s great technology brands. Canon, incorporated in 1937, gained a reputation for manufacturing exceptional cameras from the start. The company moved onto the global stage some twenty years later when it opened a North American office and secured a European distributor.

The Canon logo in its current form has been in existence for over fifty years. Rendered in a uniquely designed typeface and red color, “Canon” is arguably as recognizable as any corporate symbol in the global marketplace today.

While many consumers still know Canon for its legacy cameras, perhaps even more recognize the name from the company’s other products, which include calculators (Canon created the first 10-key electronic calculator), scanners, office copying machines, computer printers, LCD projectors, and medical equipment. As a testament to Canon’s diversity, cameras were third, behind office imaging products and computer peripherals, in making up the company’s $45 billion in 2008 sales. Close to 80% of Canon’s sales are generated outside of Japan.

What consumers may not know, however, is that Canon was stung by quality problems and a faltering economy in the 1970s. Despite diversifying its business, the company was forced to re-group. Fortunately, Canon was able to leverage the introduction of the personal computer in the 1980s, bringing out a series of breakthrough products, such as the “Bubble Jet” inkjet printer and a personal copier with an all-in-one cartridge system (although Canon’s “Athena” personal computer was not successful).

From that point on, and with a growing emphasis on innovation through the 1990s, the Canon name became associated with outstanding technology. By 2008, Canon had become the third largest U.S. patent holder of any company, behind only IBM and Samsung. The company was also visionary. For example, unlike Kodak, which failed to effectively and quickly transition to the digital world, Canon aggressively pursued digital camera technology and became an early leader in that market.

In November 2009, Canon announced its intention to purchase another brand name in the printer business – the Dutch company Océ. In May 2010, Canon and Océ began to integrate product lines. The two companies demonstrated Canon hardware working together with Océ software at the IPEX 2010 printing exhibition held that month, stating that they are jointly planning for further combinations, both in hardware and software.

One area in which Canon shines is environmental responsibility. Long before it was in vogue, Canon introduced a collection and recycling program for used toner cartridges. The company adopted a corporate-wide lifecycle assessment to understand and reduce its carbon footprint, and it has already achieved zero waste output at its worldwide plants. Canon has jointly developed a new bio-based plastic that incorporates plant-based and organic components to use in its products.

Canon has managed to thrive despite a difficult economic environment. In April 2010, the company raised its forecasts for revenue and profit for the year ending December 31, 2010, estimating net income of over $2.5 billion. Its first quarter income for 2010 more than tripled from a year earlier. Profit in its office equipment division rose more than fifty percent, and profit from its camera division more than doubled for the quarter.

If you were to ask members of the Canon management team the reason for the company’s on-going success, chances are they would use the Japanese word “kyosei.” It means “living and working together for the common good,” and it is representative of Canon’s corporate philosophy. Kyosei is coupled with “the Three Selfs,” a principle that was passed down since the company’s founding. The Three Selfs – self-motivation, self-management, and self-awareness – are cornerstones of Canon’s belief system.

Canon is a company, at its core, with a deep belief in itself, its employees, and its ability to create and produce innovative, superior products, year after year. It’s no surprise the Canon brand name continues to be a global powerhouse.

Barry Silverstein has been a frequent brandchannel contributor since 2007. He has thirty years of advertising and marketing experience and is currently a freelance writer and marketing consultant. He founded and ran his own direct marketing agency and held executive positions with Epsilon, a leading database marketing firm and Arnold, a major ad agency. Silverstein is the author of three marketing books, including the McGraw-Hill book, The Breakaway Brand, which he co-authored with Arnold CEO Fran Kelly.