xerox strategy case study

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Anne Mulcahy: The Keys to Turnaround at Xerox

The Xerox CEO discusses the importance of honest communication, cost cutting, and "not taking a dollar out of the research and development budget."

December 01, 2004

When Anne Mulcahy was named CEO of Xerox Corp. in 2001, many people were surprised — but no one was more surprised than Mulcahy herself. “I took on this position feeling equal parts excitement and dread,” she recalled. On the day that her appointment to CEO was announced, the stock dropped 15 percent. “That was a real confidence builder,” she joked.

Addressing a packed auditorium as part of the 2004-05 “View From The Top” speaker series, Mulcahy described the strategy behind the company’s return to profitability, or — as it was dubbed by Money magazine — “the great turnaround story of the post-crash era.”

Mulcahy candidly admitted that she had never planned on becoming the CEO, let alone one who was expected to reverse the company’s fortunes after a sustained period of underperformance. Although she had been at Xerox for 24 years when she was appointed to the role, she had spent 16 of those years in sales, and much of her remaining tenure as the head of human resources and the chief of staff for former CEO Paul Allaire.

“I certainly hadn’t been groomed to become a CEO,” Mulcahy said. “I didn’t have a very sophisticated financial background, and I had to make up for my lack of formal training. I had to make up for it with intense on-the-job learning.”

That was an understatement. When Mulcahy took the helm in 2001, Xerox was teetering on the verge of Chapter 11 bankruptcy. The company had over $17 billion in debt and had recorded losses in each of the preceding six years. A recent reorganization of the company’s sales force had not gone according to plan. Customers were unhappy and the economy had started to falter. On top of all of that, Xerox found itself in the middle of a protracted investigation by the Securities and Exchange Commission of accounting improprieties in its Mexico unit. “I like to say that we were ‘early adopters’ of SEC scandal,” Mulcahy joked.

From the beginning, Mulcahy and her team devised a bold plan for recovery. Almost immediately, she addressed the company’s liquidity issues and quickly raised $2.5 billion in cash. Through a “back to basics” approach and a renewed focus on operational efficiency, the company cut its capital expenditures by 50 percent; reduced its sales, general, and administrative expenses by one-third; and slashed its total debt in half. All the while, Xerox strengthened its core business by maintaining an organization-wide focus on innovation. “Even with all of the cost cutting we did, we didn’t take a dollar out of research and development,” Mulcahy said.

Mulcahy said that effective communication was perhaps the single most important component of the company’s successful turnaround strategy. “I feel like my title should be Chief Communication Officer, because that’s really what I do,” she said, emphasizing the importance of listening to customers and employees. “When I became CEO, I spent the first 90 days on planes traveling to various offices and listening to anyone who had a perspective on what was wrong with the company. I think if you spend as much time listening as talking, that’s time well spent.”

In addition to soliciting honest feedback, Mulcahy said both honesty and confidence are critical to effective communication, especially during times of crisis. “When your organization is struggling, you have to give people the sense that you know what’s happening and that you have a strategy to fix it. Beyond that, you have to tell people what they can do to help.” In return, Mulcahy accepted nothing less than total support from her executive team — or from any other Xerox employee. “I gave people a choice to make: Either roll up your sleeves and go to work or leave Xerox.” Her no-nonsense, no-holds-barred approach left her with a dedicated workforce uniquely aligned around a common set of objectives.

Even when Mulcahy wondered if her aggressive turnaround plan would work, the resilience and optimism of Xerox employees fueled her resolve — and her vision. When employees asked her to describe what Xerox would look like when it emerged from the turnaround, Mulcahy initially was incredulous. “I would think to myself, ‘Why aren’t you asking me whether or not we’re going to make it?’” Nonetheless, she committed her vision of the company’s future to paper: not with a traditional vision statement, but with a fictitious Wall Street Journal article describing Xerox in the year 2005. “We outlined the things we hoped to accomplish as though we had already achieved them,” said Mulcahy. “We included performance metrics — even quotes from Wall Street analysts. It was really our vision of what we wanted the company to become.”

Xerox has gone a long way to making its vision a reality. “Looking back on the article now, I’d say we’ve already accomplished about 80 percent of things we set out to do,” she said.

When a student in the audience asked Mulcahy what keeps her up at night these days, her response reflected both her honesty and her resolve. “I think I am more motivated by fear of failure than a desire to succeed,” she admitted. “My experience at Xerox has taught me that crisis is a very powerful motivator. It forces you to make choices that you probably wouldn’t have made otherwise. It intensifies your focus, your competitiveness, your relentless desire to attain best-in-class status. I want to do everything I can to make sure that we don’t lose that now that we’re back on track.”

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Xerox Marketing Strategy 2024: A Case Study

The Xerox Marketing Strategy for 2024 showcases the organization’s commitment to shaping brand positioning and driving market success. This marketing case study reveals how Xerox has adapted its strategies to respond to evolving customer needs through extensive market research and competitive analysis. By emphasizing innovative products and services tailored for specific target markets, Xerox effectively communicates its unique value proposition, which extends beyond traditional photocopying solutions.

In 2024, the company focused on leveraging digital marketing channels , including social media and email marketing, while also implementing multi-channel marketing campaigns to enhance brand awareness among diverse audiences. Xerox’s strategic initiatives demonstrate not just a reaction to market demands but a proactive approach to establishing itself as a thought leader in the printing and document management industry.

Key Takeaways

• Xerox’s 2024 strategy emphasizes shaping brand positioning for market success .
• The company offers a diverse range of products tailored to meet varying customer needs.
• Extensive market research guides Xerox in developing innovative solutions.
• Xerox utilizes multi-channel marketing to maximize brand visibility.
• Engagement through digital marketing channels is a key focus for Xerox in 2024.
• Performance metrics and ROI are critical for evaluating marketing campaign success.
• Xerox sponsors industry events to build credibility and strengthen brand presence.

Introduction to Xerox Marketing Strategy 2024

The Xerox Marketing Strategy 2024 signifies a pivotal transformation for the company as it builds upon over a century of redefining workplace experiences. Originally rooted in traditional photocopying services, Xerox has evolved into a comprehensive provider of document management solutions. This evolution signifies the importance of adapting to modern market demands and customer expectations.

Xerox’s new operating model and organizational structure, part of its Reinvention strategy, focus on three key priorities: improving and stabilizing the core print business, increasing productivity via the establishment of a Global Business Services organization, and diversifying revenue sources. These initiatives aim to enhance brand relevance in a rapidly changing digital landscape while addressing customer needs effectively.

The company is set to implement a 15% reduction in its workforce, which reflects a strategic approach to optimizing resources as part of its transformation. Moving forward, Xerox’s executive leadership team, which includes a newly appointed President & Chief Operating Officer and Chief Financial Officer, is charged with steering the company through this critical phase.

Xerox recognizes the necessity of client-centric, digitally-driven technology solutions to meet the evolving demands of the workforce. Factors such as global macroeconomic conditions, technology changes, and shifting customer preferences will significantly influence the company’s performance as noted in forward-looking statements.

In this landscape, direct mail continues to prove its efficacy. Data indicates that direct mail takes 21% less cognitive effort to process compared to digital marketing, with a 29% return on investment. Additionally, a staggering 90% of recipients open direct mail, ensuring brands like Xerox remain memorable in consumers’ minds. As these trends merge with Xerox’s long-term vision, the introduction to Xerox marketing in 2024 will focus on a harmonious blend of physical and digital strategies to enhance market impact.

Xerox Brand Strategy

Xerox, renowned for its innovations in document management, has made notable strides in rebranding to adapt to a rapidly changing market landscape. The Xerox Brand Strategy in 2024 emphasizes a well-defined brand identity that positions the company not merely as a copier manufacturer but as a pivotal provider of end-to-end workplace solutions.

Understanding Brand Identity

A strong brand identity plays a crucial role in Xerox’s approach. By aligning its offerings with modern needs, Xerox helps clients navigate the complexities of hybrid work environments. The recent “We Make Work, Work” advertising campaign serves as a testament to this effort. It underscores the transformation Xerox is undergoing, showcasing how its solutions support businesses amidst digital transformations. This shift reflects a broader understanding that the ability to adapt is essential in maintaining market relevance.

Revising Messaging to Meet Modern Needs

Xerox’s revised messaging strategy focuses on clarity and connection with target audiences. By investing in technology and conducting extensive demographic research, the company tailors its messages to meet customer expectations. This approach ensures that the company resonates with businesses seeking innovative solutions in a competitive marketplace. As a result, the messaging strategy not only enhances brand identity but directly impacts customer loyalty and trust.

Xerox Product Marketing

Xerox Product Marketing focuses on delivering a diverse range of offerings tailored to the unique needs of various sectors. The company emphasizes innovation and quality across its portfolio, which includes high-performance printing solutions and advanced document management systems. By aligning its products with market demands, Xerox ensures that its offerings enhance productivity and efficiency for users.

Key Offerings of Xerox

In the realm of Xerox offerings, a robust collection of products stands out in 2024. The award-winning Managed Print Services (MPS) plays a pivotal role in streamlining document management for businesses. Additionally, the introduction of ConnectKey®-enabled workplace assistants enhances user interactions through smart solutions that promote efficiency. Recent marketing resources also empower channel partners to engage effectively, driving demand through self-serve campaigns and curated social media content.

Target Markets and Tailored Solutions

Xerox has strategically identified key target markets, notably the K-12 education sector, which has shown a significant 17% growth in sales. Insights revealed that a majority of students benefit from color printouts, enhancing their focus and retention. By tailoring its solutions to address educational stakeholders’ concerns about student performance, Xerox has reframed its approach to appeal directly to these target markets. This insights-led strategy not only aligns marketing and sales efforts but also solidifies Xerox’s value proposition, maximizing its competitive edge.

Xerox Digital Marketing Techniques

Xerox has embraced innovative digital marketing strategies to strengthen its brand presence and connect with diverse audiences. With a focus on enhancing engagement, the company employs social media campaigns, email marketing, and search engine marketing to achieve its objectives. Implementing these techniques enables Xerox to foster relationships with various customer demographics efficiently.

The Role of Social Media in Campaigns

Social media serves as a primary avenue for Xerox to engage with Millennials and Gen Z. By experimenting with platforms like TikTok, the brand aims to resonate with younger audiences. This shift aligns with the company’s goal of increasing its presence in the 25 to 44 demographic. The effectiveness of these social media campaigns is continually evaluated to ensure alignment with industry trends and youth preferences.

Email Marketing and Customer Engagement

Email marketing plays a crucial role in Xerox’s digital marketing strategy. Campaigns are crafted not only to inform but also to build lasting relationships with customers. Utilizing tools such as the Marketing Accelerator Kit helps Xerox personalize email communications and target specific customer needs. These efforts support engagement and drive conversations about products and services.

Leveraging Search Engine Marketing

Search engine marketing is integral to Xerox Digital Marketing strategies, enhancing visibility in a competitive digital landscape. Investing in SEO practices allows the brand to reach potential customers when they are actively searching for relevant solutions. This method reinforces overall campaign success by driving traffic and increasing brand awareness.

Xerox Customer Experience

Xerox understands that delivering a top-notch customer experience is essential for differentiation and loyalty in today’s competitive landscape. Through a comprehensive focus on user-focused solutions, the company aims to streamline communications and enhance customer interactions across multiple channels.

Enhancing User-Focused Solutions

The optimization of customer experience begins with an assessment of various touchpoints throughout the customer journey. These touchpoints, which include acquiring new customers, onboarding, serving existing clients, and fostering growth, require a unified approach to be truly effective. Many companies often overlook underlying communication issues that detract from the customer experience, leading to dissatisfaction.

• Assessing touchpoints for loyalty and value delivery
• Evaluating message efficiency and channel effectiveness
• Enhancing customer connection

By integrating these touchpoints into the overall customer relationship, Xerox can improve customer satisfaction and retention. In addition, advancements in document management optimization and localization further bolster the Xerox Customer Experience, enabling the company to cater to diverse clientele across 160 countries.

Building Trust Through Engagement

Trust building is paramount in maintaining lasting customer relationships. Xerox has engaged its workforce in a transformational journey, migrating to a cloud-based customer experience platform that streamlines communications. This initiative allowed Xerox to retire seven legacy systems while providing operational support in 14 different languages.

The collaborative efforts of various departments—including marketing, operations, and customer service—have been pivotal. A structured approach has been implemented, featuring seamless integration between marketing and operations, document rationalization, and identification of process inefficiencies. Such initiatives contribute significantly to enhancing the overall customer experience.

Xerox’s commitment to providing Super Human Service has been recognized globally, notably when it won the Genesys Customer Innovation Award in the CX Mover category. Exciting feedback from business partners, agents, and supervisors post-implementation highlights the positive impact these trust-building measures have on customer loyalty.

Xerox Market Segmentation

Xerox implements a comprehensive approach to market segmentation, which enables the company to identify its target audiences effectively. This strategy incorporates extensive research and analysis to classify various customer groups based on specific criteria, ensuring that products and services align with customer preferences and needs.

Identifying Target Audiences

Understanding target audiences is crucial for Xerox’s marketing strategy. The company segments its market into several categories: household consumers, small and medium-sized enterprises, large businesses, and government sectors. Each audience requires tailored messaging and product offerings. Xerox utilizes data analytics and contemporary AI tools such as machine learning for real-time insights into customer behavior. Through this method, Xerox continually adjusts its campaigns to resonate with distinct demographic profiles.

Understanding Customer Preferences and Needs

Xerox places significant emphasis on understanding customer preferences as part of its Xerox Market Segmentation strategy. By conducting surveys, focus groups, and engaging through various digital platforms, Xerox gathers meaningful data about customer requirements. Insights from these activities enable the company to refine its product features, pricing strategies, and promotional approaches, ensuring that they meet the evolving demands of its clientele. Recognizing these trends allows Xerox to stay competitive in industries like healthcare, banking, and manufacturing, where customer needs vary widely.

Xerox Competitive Positioning

Xerox has navigated a complex landscape of competitor analysis, focusing on differentiating itself from rival firms. To maintain a robust market presence, it’s essential for Xerox to analyze the strengths and weaknesses of key competitors in the printing and managed print services industries.

Analyzing Competitors

Understanding the competitive landscape helps Xerox identify areas for market differentiation. Companies in the printing sector have evolved, each vying for customer loyalty and market share. Xerox’s ability to assess competitor offerings allows it to tailor its strategies effectively. Key competitors include established brands that provide similar services, which often leads to a crowded market characterized by aggressive pricing and campaign strategies.

Establishing a Differentiated Market Position

Xerox leverages its extensive history and innovative product offerings to carve out a unique market position . With a focus on advanced solutions like managed print services, Xerox emphasizes security and efficiency. As industry leaders recognize the need for digital transformation, Xerox’s commitment to data-driven strategies and comprehensive support enhances its appeal to organizations migrating towards cloud-centric solutions.

Recent marketing campaigns underscore Xerox’s position as a trusted name in the industry. The most expensive advertising initiative in two decades reflects a solid commitment to brand rejuvenation. Across the globe, Xerox operates in 160 countries, generating half of its revenues outside of the United States, showcasing its international footprint and market reach.

Xerox’s strategic positioning continues to evolve as it not only adapts to market demands but also takes proactive steps in its competitor analysis. By emphasizing unique selling propositions and focusing on substantial market differentiation, Xerox aims to solidify its presence in the global market.

Xerox Brand Equity

Brand equity plays a critical role in Xerox’s marketing strategy as it enhances brand recognition and customer preference. The foundation of strengthening Xerox Brand Equity lies in increasing brand awareness. Effective brand awareness strategies help potential customers easily identify the brand, leading to higher engagement and trust. With a strong reputation as a top global brand, Xerox maintains significant visibility in the marketplace.

The Importance of Brand Awareness

Brand awareness creates a sense of familiarity, making customers more likely to choose Xerox products and services over competitors. Strategies to boost brand awareness include:

• Leveraging social media platforms to engage customers and showcase innovations.
• Utilizing content marketing to educate customers about product benefits and industry trends.
• Participating in industry events to enhance visibility and brand recognition.

Strategies for Building Brand Loyalty

Sustaining brand loyalty requires implementing targeted brand loyalty strategies. These initiatives ensure customers remain loyal to the Xerox brand, often opting for repeat purchases. Key strategies include:

• Consistent messaging across all communication platforms to reinforce brand values.
• Exceptional customer service that fosters relationships and encourages feedback.
• Maintaining a strong online presence to facilitate continuous engagement with consumers.

Using these approaches, Xerox aims to cultivate strong connections with its customers while solidifying its presence and influence in the document technology sector.

Xerox Go-to-Market Strategy

The Xerox Go-to-Market Strategy for 2024 showcases the company’s commitment to effective campaign execution. Understanding the landscape requires combining innovative products with precise messaging and resource alignment to engage target markets. Key insights from recent campaigns give a glimpse into the mechanics of this strategy.

Effective Campaign Execution

Under the leadership of Bertrand Cerisier, Xerox launched a multi-pronged marketing campaign that has demonstrated significant impact. The Future of Work Global Tour spanned 14 cities across Europe and North America and attracted over 1,500 key partners, resellers, and customers. This campaign generated more than 518 pieces of media coverage across 40 countries, culminating in a staggering 400 million impressions. Such broad reach exemplifies the strong execution of the Xerox Go-to-Market Strategy.

The company’s recent release of nearly 30 multi-function printers (MFPs) marks its largest product launch to date. This initiative not only captivated interest but also triggered an increase in new partner engagement with the Xerox MFP Workflow App Customization Service. A notable 114% rise in customer referrals highlights the growing enthusiasm surrounding these products. Furthermore, the campaign achieved an impressive 54% web conversion rate compared to the 4% industry average, demonstrating effective campaign execution.

A crucial component of successful campaign execution has been understanding the evolving customer journey. Research reveals that 60% to 70% of purchasing decisions occur without direct supplier interaction. Potential buyers frequently consult up to 11 pieces of content before reaching a conclusion, emphasizing the need for an integrated marketing approach. Xerox’s Demand Center, comprising 8 members, facilitates over 70 campaigns monthly across the globe, showcasing a dedicated effort to adapt to these new buyer behaviors.

Insights from campaigns indicate rapid improvements in operational efficiency, such as a reduction in referral voucher delivery from three months to two weeks. The cross-channel campaigns led to an 11% increase in donor participation, adding to the campaign’s overall success. Feedback from media and influencers acknowledged the Future of Work program as a “genuine technology shift,” solidifying Xerox’s position as a leader in innovative marketing strategies.

The Xerox Marketing Strategy summary encapsulates the company’s dynamic approach to adapting to evolving market conditions and customer needs. Xerox has effectively utilized technology and standardization in its marketing operations since embarking on a transformative initiative in 2019. This initiative has played a crucial role in centralizing their marketing efforts and has resulted in operational efficiencies across global teams.

As highlighted by the insights on Xerox marketing, the transition to Optimizely’s cloud-based Content Marketing Platform has significantly improved Xerox’s marketing processes. With over 500 active users, the platform not only enhances collaboration but also consolidates content creation, which has led to substantial cost savings and optimized resource allocation.

Moving forward, Xerox’s emphasis on customer-centric approaches and meticulous planning processes positions them well in a competitive landscape. The integration of clear workflows and a focus on measurable outcomes will be vital for driving continued success and sustaining growth in the marketing sector.

What is the focus of Xerox’s Marketing Strategy in 2024?

How has xerox differentiated itself in the market, what digital marketing techniques does xerox utilize, how does xerox ensure a positive customer experience, what methodologies does xerox use for market segmentation, how does xerox approach competitive positioning, why is brand equity important to xerox, what does xerox’s go-to-market strategy involve, related posts:.

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Nina Sheridan is a seasoned author at Latterly.org, a blog renowned for its insightful exploration of the increasingly interconnected worlds of business, technology, and lifestyle. With a keen eye for the dynamic interplay between these sectors, Nina brings a wealth of knowledge and experience to her writing. Her expertise lies in dissecting complex topics and presenting them in an accessible, engaging manner that resonates with a diverse audience.

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What Xerox Should Copy, and Not Copy, from Its Past

October 25, 2000 • 11 min read.

Nearly 20 years ago the management at Xerox was accused by critics of squandering its core competitive advantage and bringing the company to the edge of bankruptcy. Within six years, Xerox had engineered a triumphant comeback. The question is, can the company do it again? The company has flat revenues, declining earnings, a severe cash crunch and a battered stock price. On Oct. 24 CEO Paul Allaire announced a turnaround plan that he hopes will get the Stamford, Conn.-based giant back on its feet. The key, suggest several Wharton faculty, lies in figuring out which strategies from the past should be duplicated and which deleted.

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How Total Quality Management Got Xerox Back on Track

Updated: March 5, 2023 by Lori Kinney

Xerox went from being an industry leader to resting on its laurels. Their focus shifted away from improvement for the benefit of their customers. This, coupled with a financial scandal, brought the organization to the point where many financial experts believed that bankruptcy was on the horizon. A major shift in how Xerox did business righted the ship and then some.

How Total Quality Management Brought Xerox Back Into Profitability

An embrace of both Total Quality Management and Lean Six Sigma is what helped bring Xerox back. Total Quality Management (TQM) is a management system that is fully aligned with the methodologies of both Lean and Six Sigma. It typically adopts eight guiding principles. They are as follows:

• Putting the customer first: In Total Quality Management, there is a primary focus on the customer experience. Through all aspects of interaction with the organization, the customer is the priority.

• Employee ownership and involvement: All employees are working towards a common goal. Workers feel empowered, involved, heard, and integral to processes.

• Process-based success: TQM focuses on creating and implementing processes that find success, are repeatable, and are sustainable.

• Integration: TQM strategies deal with making sure that all assets that are available are integrated and working towards the goals.

• Communication: During all points of change in the organization, as well as during the day-to-day operations, communication plays a massive role in keeping up the morale and motivation of the team.

• Data and facts, not assumptions: Data is for the company’s improvement, and decisions are made based on facts, not assumptions or feelings.

• Strategic planning: TQM focuses on using a strategic and systematic approach towards achieving goals.

• Continuous improvement : A culture of continuous improvement drives the organization towards continually finding better and more effective ways of improving the company and how it meets the needs of its customers.

Think about these main tenets of Total Quality Management when reading the case study of Xerox below and how the organization was able to turn itself around.

Xerox Had An Issue

In 2002, Xerox was fined 10 million dollars by the Securities and Exchange Commission, under accusations that the corporation had been inflating its operating performance for a four-year period. The following year, six former Xerox executives were fined a total of 22 million dollars after being charged with securities fraud and aiding and abetting the corporation’s violations of federal securities law. The SEC alleged that the purpose of these practices was to deliberately mislead investors in order to raise the organization’s Wall Street reputation as well as inflate the worth of the company’s stock.

The impact of these allegations weighed heavily on the reputation of Xerox. Not only did the company have this scandal to contend with, there was also the fact that it was no longer as dominant in the marketplace as it once was. The improvement of the products that the company was built on had become stagnant, so other companies came along and made products that used the Xerox products as a jumping-off point. These products did what Xerox photocopiers did, but did it more reliably, faster, and less expensively. The company had been resting on its laurels, thinking that it would continue to thrive without doing anything to continue improving.

Along with not innovating for the sake of its customers, there were efforts to change the culture of the company that caused major internal issues. This led to a slew of mismanaged sales, shipping problems, frustrated employees, and the loss of trust from customers.

All of these combined factors led Xerox to fall into a 16-billion-dollar debt, and most financial experts expected the company to declare Chapter 11.

Instead, Xerox brought on two important figures that would be integral to the effort towards bringing the company back from the brink. One was Lawrence Zimmerman, and the other was Anne Mulcahy.

It would be necessary to change how Xerox worked as well as how it was viewed in the public eye after the scandal. Luckily, the change in top-level management created the perfect opportunity to do so.

Lawrence Zimmerman had been a major player during his 31 years at IBM. He became well known for having highly developed skills in the financial restructuring of organizations. Zimmerman joined Xerox in 2002 as CFO and senior vice president, coming out of retirement at the time.

Anne Mulcahy was brought on and made the CEO of Xerox, once the former chief executive officer was ousted. She was the company’s first female CEO, and the news of her placement in the organization caused the price of Xerox stock to drop 15%.

Getting Xerox back on track was not going to be easy.

The goal for both was to gain back Xerox’s strong reputation and get the company back to being profitable after the tarnish that the investigation, fine, and loss of strength in the marketplace had put on the organization.

Just how, though, were they going to do it?

Embracing Lean Six Sigma and the Main Tenets of TQM to Turn Xerox Around

Before Zimmerman and Mulcahy made any moves toward fixing the organization, it was necessary to know exactly what the problems were in the eyes of those that should be most important to a company–the customers.

Mulcahy’s first project as CEO was to hop on a plane and undertake 90 days of solicitation of constructive criticism about the company through direct communication with customers, focus groups, public forums, industry analysts, and more. She flew from meeting to meeting, learning from the customer base what they actually wanted from the company. She also made a point of listening to the employees to get an understanding of where they saw the most issues with the organization. The employees, in general, were happy to be involved in whatever solutions would be decided on as long as there was a clear direction to follow.

Her remarkably thorough efforts to determine exactly what the problems were are a good example of the Define stage of DMAIC in Six Sigma.

One of the first things that were decided upon was the elimination of waste in the company. With a customer-centric approach, if clear interest had not been shown by customers in a line of products, they were cut. Areas of the organization that were wasting resources were eliminated. One example would be nearly the entire range of products that were directed toward home offices. A deep look was put into all processes to ensure structural and operational efficiency.

The team also went after lost markets by focusing research and development on the input that was received during Mulcahy’s interactions with customers. The emphasis on innovation to meet the needs of the customer led to improved copy machines and multifunctional devices. Some of the innovations stemmed from the creative thinking of including the customers themselves in the development process. In order to ensure that the focus on customers was coming from the top down, Mulcahy assigned all senior managers to their own key customers–helping to guarantee that Xerox no longer strayed from the improvement of the customer experience by making the customer a primary part of the company culture.

Zimmerman also used his expertise to help Xerox focus on efficiency and deliver value to customers. During these transitional years, Xerox led over 1,500 Lean Six Sigma projects with the assistance of over 600 Sigma Black Belts.

In order to address the financial culture at Xerox post-investigation, a holistic approach to global-reporting processes was developed, with an insistence on high ethical standards of excellence. An ethics code of conduct was developed for employees and the finance department, in particular.

Like all true change, the positive effects of this return to core values and embrace of putting the customer first did not immediately pay off. Xerox continued to have a couple of hard years before the true benefits of changing the company culture could be seen.

The Outcome Was Phenomenal

After about three years, the benefits of this strategy began to really show for Xerox. Being receptive to feedback from customers and workers on how to improve, as well as funneling this input into implementing Six Sigma projects, made a huge difference. Shifting the culture of the company to focus on their innovations based on input received from their customers instead of assumptions also had a massive impact. In less than five years, Xerox went from losing 200 million dollars a year to grossing over 1 billion dollars. Being transparent with its dealings ethically also helped regain the confidence and trust back of customers and stakeholders.

6 Best Practices When Implementing Lean Six Sigma and Total Quality Management Techniques

1. innovate for your customers.

Xerox learned how important it was to not innovate just based on assumptions but by listening to their customers and innovating to actually solve their problems and meet their needs.

2. Improvement is essential

Even during a crisis, Xerox learned the value of working to make the company better for its customers. Finding ways to improve the customer experience is a big part of what saved Xerox.

3. Eliminate waste

In order to survive, Xerox had to make some tough decisions about eliminating programs that were resource drains and were not adding value for their customers.

4. Listen and respond to feedback

Making it a priority to get feedback from your customers, workers, and colleagues can give much-needed insight into the improvement of products that you already have out on the market as well as point towards moving into new areas that are in high-demand from your clients. This kind of open communication also builds trust between the company, the client, and the staff.

5. Include your workers in the changes within the company

Xerox had tried to make changes in their organization before. What was different within the organization this time was that the staff felt personally invested in and involved in the changes that were going to happen. This time, they felt that everyone in the organization was working towards set goals and that everyone understood what those goals were.

6. Invigorating staff through top management alignment with goals

Through having top management put as much of their own efforts towards the customer experience, employees felt much more inclined to follow suit.

What We Can Learn From the Xerox Example

One key takeaway from the example of Xerox is that an organization should not believe that its past successes are going to carry over into the future indefinitely. An organization needs to keep improving in order to meet the needs and demands of customers. A company also needs to act ethically, or else they will lose the trust and confidence of the public. It is also vital that an organization listen to its customers and employees in order to know where to target its current and future efforts. If you really take the time in your company to find out from your customers and workers where the main issues are in the organization, you stand a much better chance at finding the root causes and eliminating any waste that is draining valuable resources and not contributing toward providing value in the customer experience.

About the Author

Lori Kinney

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Xerox PARC Case Study

A missed opportunity in innovation.

Naresh Sekar

Xerox’s Palo Alto Research Center (PARC) is often cited as a classic example of a company’s failure to capitalize on its innovations. Established in 1970, Xerox PARC became a fountainhead of modern technological advances, including the graphical user interface (GUI), the mouse, and other foundational technologies that shaped the future of computing. This case study delves into the timeline of PARC’s developments, Xerox’s management decisions, and the subsequent impacts on the technology industry.

Timeline and Key Innovations at Xerox PARC

• 1970 : Xerox establishes the Palo Alto Research Center (PARC) as part of its strategy to venture into emerging fields of technology, particularly around computing.
• 1973 : The development of the Xerox Alto, the first computer to use a GUI and a mouse. This innovation was revolutionary, introducing concepts that would later become standard in personal computing.
• Late 1970s : Researchers at PARC also developed Ethernet technology, laying the groundwork for modern networked computing.
• 1979 : Steve Jobs visits Xerox PARC, where he is shown the GUI technology. This visit profoundly influences Apple’s future product strategies.

Written by Naresh Sekar

Loves Engineering Management at scale. Interested in learning via real-world case studies.

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Xerox: Corporate Turnaround Case Study

Xerox, a company once synonymous with photocopying, faced a significant downturn in the early 2000s, prompting a series of strategic shifts and leadership changes.

The corporate turnaround that ensued offers valuable insights into the complexities of transforming a struggling organization into a thriving, innovative enterprise. By examining the historical context, financial crisis, and the subsequent revitalization efforts, we can gain a deeper understanding of the multifaceted challenges and strategic decisions that shaped Xerox's resurgence.

This case study not only provides a captivating narrative of corporate resilience but also offers practical lessons for leaders navigating similar challenges in today's dynamic business landscape.

Historical Context

Xerox's historical context is rooted in the post-World War II era, a time marked by rapid technological advancements and shifting business landscapes. The economic conditions were characterized by post-war recovery, with industries transitioning from wartime production to meet peacetime demands. This period also witnessed the emergence of new consumer markets and increased global trade, fostering a climate of economic growth and innovation.

In tandem with these economic conditions, the industry landscape was undergoing significant transformation. The proliferation of electronic devices and the advent of computer technology were revolutionizing the way businesses operated. Xerox, as a company specializing in document management and reproduction, found itself at the intersection of these changes. The demand for efficient document processing and management was escalating, creating opportunities for Xerox to innovate and capitalize on the evolving needs of businesses.

Amidst this backdrop, Xerox navigated the challenges and opportunities presented by the dynamic economic conditions and the evolving industry landscape, laying the foundation for its future corporate trajectory.

Financial Crisis

Amidst the backdrop of rapid technological advancements and shifting business landscapes, Xerox faced a significant financial crisis that posed formidable challenges to its corporate stability. The company's financial struggles were attributed to a combination of factors, including increased competition, declining demand for traditional printing products, and high levels of debt. As a result, Xerox was compelled to undertake a comprehensive financial restructuring to alleviate its financial distress and regain market confidence. The turnaround strategy adopted by Xerox was multifaceted, encompassing cost-cutting measures, divestitures of non-core businesses, and a renewed focus on innovation and digital solutions.

This strategic realignment enabled Xerox to streamline its operations, reduce its debt burden, and pivot towards high-growth areas within the digital technology space. By implementing these measures, Xerox successfully navigated through its financial crisis and emerged as a leaner, more agile organization poised for sustainable growth and profitability.

Leadership Changes

Undergoing a phase of significant transformation, Xerox experienced pivotal changes in its leadership structure. The company embarked on a new direction by implementing a management shakeup and a leadership overhaul. This strategic move was aimed at fostering a cultural transformation within the organization and driving a shift towards a more innovative and customer-centric approach.

The leadership changes at Xerox were instrumental in revitalizing the company's operations and repositioning it for sustainable growth. The appointment of new leaders brought fresh perspectives and expertise, injecting renewed vigor into the organization. This infusion of new leadership not only brought about a change in strategic direction but also signified a commitment to embracing a culture of adaptability, agility, and forward-thinking.

With the leadership overhaul, Xerox sought to instill a sense of urgency and accountability throughout the company, fostering a more dynamic and responsive organizational ethos. This recalibration of leadership was a critical step in steering Xerox towards a path of resurgence and relevance in the rapidly evolving technology and business solutions landscape.

Strategic Restructuring

The strategic restructuring undertaken by Xerox encompassed a range of initiatives aimed at enhancing the company's overall operational effectiveness.

This included implementing cost-cutting measures to improve financial performance, driving operational efficiency improvements to streamline processes, and undertaking organizational restructuring to optimize the company's structure and resources.

These strategic measures were pivotal in positioning Xerox for a successful corporate turnaround.

Cost-Cutting Measures

In response to financial challenges, Xerox implemented a series of strategic cost-cutting measures aimed at streamlining operations and improving overall efficiency.

This involved:

• Operational Streamlining
• Xerox restructured its internal processes to eliminate redundancies and optimize workflow, resulting in improved productivity and reduced operational costs.
• The company consolidated its manufacturing facilities and streamlined its supply chain to achieve greater operational efficiency and cost savings.

These measures enabled Xerox to achieve substantial expense reduction while maintaining the quality and delivery of its products and services.

Operational Efficiency Improvements

Following the implementation of cost-cutting measures, Xerox strategically restructured its operations to enhance operational efficiency and drive significant improvements in its overall performance. The company focused on process optimization and productivity enhancements to streamline operations and allocate resources more effectively.

By identifying and eliminating inefficiencies, Xerox was able to improve its production processes, reduce waste, and enhance the utilization of its workforce and assets. This strategic restructuring not only led to cost savings but also improved the quality and timeliness of Xerox's products and services.

The company's commitment to operational efficiency improvements enabled it to maintain a competitive edge in the market while delivering greater value to its customers. Xerox's success in this area demonstrates the importance of continuous optimization and resource allocation in driving sustainable growth and profitability.

Organizational Restructuring

Undoubtedly, the process of organizational restructuring, or strategic restructuring, played a pivotal role in Xerox's corporate turnaround. This involved realigning the company's structure to optimize efficiency and adapt to changing market dynamics.

The restructuring efforts focused on two key areas:

• Organizational Culture : Xerox aimed to cultivate a more agile and innovative culture, fostering a mindset of continuous improvement and adaptability. This involved redefining values, promoting transparency, and empowering employees to contribute to the company's success.
• Employee Engagement : Recognizing the importance of motivated and committed employees, Xerox implemented strategies to enhance employee engagement. This included developing career advancement opportunities, improving communication channels, and providing comprehensive training programs.

Through these initiatives, Xerox successfully revitalized its organizational framework, creating a more resilient and responsive foundation for sustained growth.

Customer-Centric Approach

Xerox's customer-centric approach centers on a deep understanding of client needs and a relentless focus on service. By prioritizing the customer experience, Xerox has been able to tailor its products and services to meet the specific requirements of its diverse client base.

This approach has not only enhanced customer satisfaction but has also been instrumental in driving the company's successful corporate turnaround.

Service Focus

Taking a customer-centric approach, Xerox implemented a service focus strategy to enhance the overall customer experience. This approach aimed to improve customer satisfaction and create market differentiation by offering exceptional service. Here's how Xerox achieved this:

• Personalized Service : Xerox tailored its services to meet the specific needs of each customer, providing personalized solutions and support.
• Continuous Improvement : Xerox adopted a continuous improvement mindset, regularly seeking feedback from customers to identify areas for enhancement and refine its service offerings. This proactive approach allowed Xerox to stay ahead of customer needs and preferences, further strengthening its position in the market.

Client Needs

Building on its service focus strategy, Xerox prioritized understanding and addressing client needs through a customer-centric approach. By conducting thorough market analysis, Xerox gained deep insights into the specific requirements of its diverse client base.

This proactive approach allowed Xerox to tailor its products and services to meet the unique demands of different market segments, thereby enhancing client satisfaction. Through continuous feedback mechanisms and engagement with clients, Xerox has been able to stay responsive to evolving needs, ensuring that its offerings remain aligned with client expectations.

This customer-centric focus has not only strengthened client relationships but has also positioned Xerox as a trusted partner in enabling its clients' success. As a result, Xerox has seen notable improvements in client satisfaction and loyalty, driving its overall turnaround strategy.

Innovation and Technology

The integration of cutting-edge technology and innovative solutions has played a pivotal role in shaping Xerox's corporate turnaround strategy. In the context of innovation, Xerox has focused on leveraging digital transformation to redefine its products and services, enabling the company to stay ahead in a rapidly evolving market.

• Revolutionizing Work Processes

Xerox has embraced innovation by developing advanced workflow automation solutions that streamline business processes and enhance productivity. This has allowed the company to adapt to the changing needs of modern workplaces, positioning itself as a leader in digital transformation.

• Next-Generation Printing Technologies

Through substantial investment in research and development, Xerox has introduced next-generation printing technologies that not only meet the current demands of businesses but also anticipate future requirements. This forward-thinking approach has enabled Xerox to maintain its position as an industry pioneer, constantly delivering innovative printing solutions.

Operational Efficiency

Achieving operational efficiency has been a fundamental focus for Xerox, as the company has diligently streamlined processes and optimized resources to enhance productivity and drive sustainable growth. Through process optimization and productivity enhancement, Xerox has successfully implemented lean operations, resulting in significant performance improvement across its various business segments.

By adopting a lean approach, Xerox has been able to eliminate waste, reduce operational costs, and enhance overall efficiency. The company has strategically restructured its operational framework, integrating advanced technologies and automation to streamline workflows and enhance the quality of its products and services.

This concerted effort towards operational efficiency has not only bolstered Xerox's competitive edge but has also enabled the company to deliver greater value to its customers. Moreover, through the implementation of robust performance improvement initiatives, Xerox has been able to achieve higher levels of operational effectiveness, driving profitability and ensuring long-term sustainability in an increasingly dynamic market landscape.

Revitalized Success

Having established a robust foundation of operational efficiency, Xerox has now catapulted itself into a phase of revitalized success, marked by a transformative repositioning within the market. This business transformation has positioned Xerox to gain a competitive advantage in the rapidly evolving industry landscape.

The company's strategic foresight and proactive measures have allowed it to stay ahead of market trends, enabling Xerox to adapt to shifting customer needs and technological advancements.

The strategic repositioning has enabled Xerox to not only meet current market demands but also anticipate and capitalize on future industry trends, ensuring sustained relevance and growth in the digital age.

By leveraging its core competencies and embracing innovation, Xerox has successfully differentiated itself from competitors, carving out a unique and compelling market positioning that resonates with both existing and potential customers.

This revitalized success is a testament to Xerox's agility and resilience, demonstrating its ability to evolve and thrive in an increasingly competitive and dynamic environment. As the company continues to navigate the ever-changing business landscape, its revitalized success sets a benchmark for sustainable growth and adaptability in the modern corporate world.

In conclusion, Xerox's corporate turnaround exemplifies the power of strategic restructuring, customer-centric approach, and operational efficiency in revitalizing a struggling business.

Like a phoenix rising from the ashes, Xerox's success story serves as a beacon of hope for other companies facing financial crisis.

Through innovative technology and a strong focus on the needs of their customers, Xerox has not only survived but thrived in the face of adversity.

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• Part of the challenge of established organizations facing disruption the failure of omission – or inability to see or the inability to act and commit based on the new dynamics of competition.
• In order to highlight this learning objective, we put the participants into competing groups to determine how each player would beat each other in the world of getting from point A to point B – projecting out the consequences of the initial investments that they had made.
• It becomes very clear once after all competitive moves are made, that the consequences of initial investments (for example, Google’s 7 year valuable, rare, hard to copy (or substitute), investment in mapping the world’s roads) has a significant impact on its future sustainability of competitive advantage.

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Please note you do not have access to teaching notes, strategic foresight of xerox servitization: look back and look forward.

ISSN : 1463-6689

Article publication date: 25 March 2020

Issue publication date: 6 July 2020

This study aims to explore the strategies of Xerox Corporation (Xerox) in the copier industry, as its inception to date. In particular, it examines the process of Xerox’s creating platform advantage (the capability to engender an increasing future and continuing success of new innovations or businesses). The study provides insights on Xerox’s pursuit of specific strategies in managing technological innovations in the midst of fierce market competition.

Design/methodology/approach

The research study uses a case study methodology to explore the strategic foresight of Xerox servitization. The study develops the new methodological tool to analyse the process of technology platform and business platform creation. The model can be applied to any industry to understand the pursuit of strategies in high-tech based market competition.

The analyses of Xerox’s strategies, as its inception to date, have revealed the process of platform creation (technology platform and business platform), which enabled Xerox to enjoy a continuing advantage. The results have shown that the pursuit of specific strategy is motivated by risk considerations as much as by a search for profit. Xerox has continually upgraded its platforms to get ready for the competition under the digital transformation of servitization.

Originality/value

The main contribution of this research study is the development of a new methodological framework, which can be used to analyse the process of platform creation in any industry. The new framework introduces a dynamic concept (rather than a static concept generally found in the previous literature) of technology and business platforms. This research study contributes to the body of knowledge in the areas of strategic management of innovation.

• Servitization
• Business platform
• Technology platform

Harris, W.L. and Wonglimpiyarat, J. (2020), "Strategic foresight of xerox servitization: look back and look forward", Foresight , Vol. 22 No. 3, pp. 351-366. https://doi.org/10.1108/FS-07-2019-0064

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Copyright © 2020, Emerald Publishing Limited

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Payments 3.0: how payment strategies will determine who wins and loses—an igaming case study.

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Danny Shader is the founder and CEO of PayNearMe .

No matter the business, payments play a critical role in the consumer experience—which means getting the payment process right is essential for attracting and retaining customers.

Any business hoping to thrive in a Payments 3.0 world must offer a frictionless experience. That’s no more evident than in the iGaming industry, where the ability to deposit and withdraw funds quickly and easily is essential to the experience successful operators must offer to players.

To succeed, operators look to payment platforms that support all of the deposit and withdrawal methods players use—from digital wallets to the ability to receive instantaneous credit for cash deposited at the casino cage or a retail store—with a single integration. With modern technology, they can add and remove payment types and channels, compliance and reconciliation and data collection, all of which are essential to providing a hyper-personalized customer experience.

As part of our Payments 3.0 series, let's explore an iGaming case study to see how delivering better payment experiences can influence which operators win and lose players. As the CEO of one of several companies developing Payments 3.0 technology, there are several ways that this technology can evolve to create better payment experiences.

While the focus in this case is on iGaming, the lessons learned are universal. Regardless of your industry, I hope these insights encourage you to reassess the impact your payment experience has on acquiring and retaining customers.

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It has been a wild ride for iGaming operators in the U.S. as more states approve the practice and consumer interest grows. Currently, six states allow online casino betting, 30-plus states plus the District of Columbia have approved online sports betting, and others are debating proposals. The total annual revenue for iGaming is projected to reach $124 billion by 2027.

This dramatic growth has prompted operators to make enormous investments in the development and marketing of iGaming apps to capture market share while consumers are up for grabs.

My company, PayNearMe, recently sponsored a new study of iGaming players in partnership with Betting Hero that suggests that the iGaming operators who offer a seamless, elegant experience for players will rise to the top since payments sit at the center of the overall user experience in betting apps.

Do bettors care about payment? You bet.

iGamers require fast, hassle-free transactions so they can engage in events and enjoy their play. But here’s the rub: As one respondent said in the survey, “Other industries seem to get funds moved more quickly than any type of gaming payments.”

The iGaming study supports this perspective:

• Nearly a quarter (23%) of respondents said they would abandon an app if they had any problems depositing funds.

• About a third (32%) said they would abandon an app if it took too long to fund their account.

• 17% would leave if their payment was often declined.

Consumers initially gravitate toward brands they know, but they'll go elsewhere unless those brands provide a great customer experience. Payments are an integral part of that experience.

Payments 3.0 technologies can streamline deposits and withdrawals and enhance the user experience. Here are three tech-forward strategies that will shape the future of iGaming—and are equally applicable to other industries:

1. Enable seamless payment through a hyper-personalized interface.

iGamers are typically savvy consumers of online experiences, and today’s e-commerce sites set a pretty high bar that most gaming operators don’t yet meet. In the aforementioned survey, 22% of respondents listed UX and UI issues as their primary day-to-day frustration.

With Payments 3.0 technology, each customer’s payment history and practices can be used to personalize the experience; for instance, simplifying the player’s payment screen to display the individual’s preferred payment types, while facilitating quicker, faster payments with higher acceptance rates.

2. Make a great first impression with AI-assisted initial deposits.

When the process of setting up an account is cumbersome or doesn’t work, the opportunity to make a good first impression is gone forever—often along with the player.

In the survey, 20% to 27% of players said they were unable to fund their accounts on nine popular gaming apps. Twenty-three percent immediately abandoned the app, causing operators to forfeit both their player acquisition costs and future revenue; and 21% reached out for assistance, adding to customer service expenses.

Payments 3.0 will continue to evolve to deliver modern, AI-powered payment platforms with user interfaces (UIs) that make the initial deposit experience seamless.

In the event of a declined deposit, sophisticated AI and machine learning algorithms will recognize the reason and suggest corrective actions. This can be achieved by making real-time adjustments to the player's payment options within the user interface or initiating a push notification or text message with recommended steps to resolve the issue.

3. Improve the security and speed of withdrawals.

iGaming is all about the immediacy and excitement of the experience, including celebrating wins. About half of players overall (49%), and 60% of those who experienced payment issues, said they would be likely to switch to a new or competitor app if it promised faster withdrawals.

As Payments 3.0 solutions employ machine learning, this will help to verify player identities and prevent fraudsters from withdrawing winnings with less manual intervention. When operators spend countless hours manually reviewing and verifying each withdrawal, a player’s ability to withdraw winnings is delayed.

AI/ML can analyze large sets of payment data to detect issues substantially faster than an operator’s staff can do manually, which promises faster withdrawals for players.

Improving The Odds Of Success—In iGaming And Beyond

The iGaming industry, while unique, offers valuable lessons about creating frictionless payment experiences that apply to every competitive business. A Payments 3.0 platform that delivers fast, personalized transactions is crucial for customer retention and loyalty across all industries.

Companies that prioritize seamless payments alongside a strong sales and marketing strategy will ultimately build the successful enterprise they and their investors desire.

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If you think MPS is just another word for basic break-fix and consumables services, fasten your seat belt and hold on for the ride. You’ll be amazed by what Xerox can do for you and your business.

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Imagine partnering with a provider who delivers the actionable insights and recommendations to automate and simplify your document workflows coupled with a blueprint to carefully execute workflow integration—all without any disruptions or risks as you make the transition.

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