Innovation at Xerox
TABLE OF CONTENTS
REPORT ON XEROX CORPORATION 2
INTRODUCTION 2
HISTORY OF XEROX & THE NEED TO BECOME INNOVATIVE 4
PRODUCT & SERVICES 6
ANALYSIS OF THE PRODUCT DEVELOPMENT PROCESS IN THE ORGANISATION 7
PRODUCT DEVELOPMENT PROCESS AT XEROX CORPORATION 7
Management Decision Process (MDP) 8
Process Elements and Phase Deliverables 8
Process Enablers 8
EFFECTIVE PRODUCT DESIGN AND DEVELOPMENT 10
MANAGING INNOVATION 14
RECOMMENDATIONS TO ENHANCE INNOVATION WITHIN XEROX CORPORATION 16
BIBLIOGRAPHY 22
Report on Xerox Corporation
We have chosen the Xerox Corporation and evaluated the strategic importance of innovation in its role. Xerox from its inception has always been regarded as an organisation that thrives on innovation and diversification. The introduction of the their xerographic office copier in 1959 is seen as one the main technological advancements in the 20th Century. Even as late as the 1990's Xerox has been boldly reinventing itself from a predominantly black and white, light lens copier company to a digital, colour and document solutions company. Even the release of their third quarter results for 2000 in October last, showed despite a 5% drop in revenue, the organisation still looks forward to improving its overall strategy by revealing a new turnaround program
"Our actions are centred on improved cash flow and profitability -- and at the same time strengthening our strategic core"- Paul Allaire- CEO(24/10/00)
"This plan provides Xerox with a strong financial foundation, to build on the unique strength inherent in our brand, market position, technology, people and leadership team" -- Anne Mulcahy-President & Chief Operating Office(24/10/00)
Introduction
Xerox ...
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...a structure, which is flexible and allows people, ideas and information to flow from one part of the organisation to the other. Another is to ensure groups have the autonomy to follow ideas through and to listen to the ideas of others. The appropriation, application and implementation of ideas, whether they are internally or externally generated, is the key.
Bibliography:
Bibliography
Books
Henry, Jane and Walker, David. Managing Innovation. (1996 SAGE publications)
Clark, Peter and Staunton, Neil. Innovation in Technology and Organiszation. (1994 Rutledge)
Roper, Stephen and Hewitt-Dundas, Nola. Business Innovation in Ireland, Lessons for Managers. (1998 Oak Tree Press)
Reports
Forfas, 4th National Innovation Conference. "Organising Innovation". Summary Report November 1998
Internet
www.xerox.com
www.usaep.org
www.modicorp.com
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After conducting a basic 10 year financial analysis of the company, it has become evident that even with a highly competitive market structure they are able to improve on their performance. Ranging from 2004 to 2013 financial information, the company has shown a significant increase in their sales revenue roughly $3865 million sales in 2004 to almost four time that valuing $12970 million in 2013, which was an “increase of 10.4% over the 53 week prior year” The company’s growth strategy has been to diversify its product market and make them...
Xerox has always prided themselves as a customer-focused and employee-centered organization. Their rich heritage has helped with the company’s profitability and growth. Currently, Xerox is a $22 billion annual revenue multi-national business services and document management organization (Xerox, 2014). The mission statement for Xerox is “to become change agents and innovators - using Xerox Lean Six Sigma to constantly search for a better way to meet our customers' challenges and to create business process outsourcing, IT solutions, new technologies, products and services for world class commercial and government clients that enable better results” (Xerox, 2014). Throughout the years, the company has succeeded through the satisfaction it has provided to its customers. They provide quality and excellent product and services. The company values and empowers its employees to be the best in everything they do. Xerox has created inclusion in all aspects of its organizational culture. The current CEO; Ursula Burns, is the first African American woman to be appointed to the position. This promotion at that time was unheard off in the company. She started as a summer intern and worked her way up to her current position. She is a true meaning of diversity in the work place in modern America. Diversity at Xerox means success. This success has placed the company on the fortune 500 list (#131) of company for the year 2013 (Cable News Network (CNN), 2013).
Utterback, A. M. (1996). Mastering the dynamics of innovation. United States of American: Harvard Business Press
With this opportunity in rise Kinko´s faces a decision with huge transformation as an organization, meaning restructuring, departments, operations and service functions. Accordingly this decision faces another issue: timing. Either they start pursing the challenge now or lose the opportunity of being first mover advantage and differentiate themselves in the niche market, allowing them to stick key corporate accounts or they might give the preferential occasion to another fast growing market : self owned machines provided by (what they believe is their competition) Xerox and IKON. But where they really providing their same solution? Maybe as an overall outcome (or product), but what they are not providing is Kinko´s Service Solution. This is where Kinko´s can and need to work, in order to provide key differentiation strategy and position themselves in the actual and potential customers mind, building the need for their service and adding value to their brand .
Tektronix was a business that was founded in 1946 and they specialized in electronic test equipment. They decided to expand into a manufacturing electronic tools and devices. Tektronix held a success rate of over 50 years. However, in 1993 we see that Tektronix would come into a global challenge. Tektronix wanted to compete globally and found that they were not equipped at this time. This lead Tektronix to branch into three separate divisions. The first was the measurements of the business division, second the color printing and imaging division and finally video and networking divisions. Tektronix is a leader and has a presence in over 60 countries. What Tektronix had to figure out was a new process and was hoping to achieve an enterprise
Diversification or further investing in the current portfolio would not have been the solution. Understanding the market needs is more than understanding technological advancement because innovation should be market driven. In this case, both strategies could still have been practical but with the customers’ needs in mind. Additionally, increasing production efficiency in retention of current business strategy could also have boosted its revenues by reducing wastage or idle time. Considering not all countries move at the same technological level, the company could still have invested in supplying the outdated products to places such as India or Africa. However, as the CEO there is a need to pursue the best strategy by focusing on what works our best but still have the customers ' mind at heart (Xerox Maps Business Service Strategy,
Xerox, best known for the clear overhead projector sheets, is a company that supplies to a mass amount of customers and businesses with a high level of customer satisfaction and speed. They accomplish this by having a sophisticated supply chain that accomplishes an expedient stream of products while delivering quality service. Xerox focuses on creating diverse product line as well as a diverse client focus. Xerox strives to keep their client base large and reaches out to even the smallest companies to keep market share to maximum capacity. In addition, they keep products flowing with an up to date transportation service to keep all products on time with delivery as well as keeping costs low. Xerox is constantly keeping up with the newest changes to technology and is capable of adapting to cutting edge technology quickly. They started out as a company that based their benefits off of clear sheets of plastic and evolved into one of the most important large scale companies that deal with printers to management of documentations. The company is constantly flourishing and creates a base for their business to evolve into any market it wishes.
“The balanced scorecard retains traditional financial measures. But financial measures tell the story of past events, an adequate story for industrial age companies for which investments in long-term capabilities and customer relationships were not critical for success. These financial measures are inadequate, however, for guiding and evaluating the journey that information age companies must make to create future value through investment in customers, suppliers, employees, processes, technology, and innovation” (What is the, 2015).
Kelley,T. (2005, Oct.). The 10 faces of innovation. Fast Company, 74-77. Retrieved 6th March’ 2014 from http://web.ebscohost.com/ehost/detail?vid=9&sid=1d6a17b7-c5f7-4f00-bea4 db1d84cbef55%40sessionmgr10&hid=28&bdata=JnNpdGU9ZWhvc3QtbGl2ZSZzY29wZT1zaXRl#db=bth&AN=18386009
The mission statement of the company was “As we grow as a company, it has become more and more important to explicitly define the core values from which we develop our culture, our bran...
The ever-decreasing length of product lives has diminished the role of new technologies as a source of satisfactory profit and sustainability, as in today’s economies they become commoditized in a growingly fast manner. Nowadays, innovation must include business models rather than just technology and R&D (Chesbrough 2007), and with the greater frequency of disruption and dislocation in many industries, business model lifecycles are shortening as well.
As society grows and evolves, technological advancements and innovations continue to develop and consistently change different aspects of our society. For an organization, understanding how to manage these innovations is essential for their proper utilization and implementation. With technological advancements and innovations constantly emerging, it is important for an organization to stay aware of which new technological innovations can help them be successful. Organizations are always looking to set themselves apart from competition through innovation.
Over recent years companies have become less dependent on paper and more dependent on technology. Take American Honda Motors for example; the Davenport Parts facility recently converted computer systems to more efficiently manage its inventory. Prior to its new system months of preparation was needed in order to ensure a smooth change over. Without the four basic functions of management all working together success would not have been possible.
Innovation in business is a key aspect of staying viable in an ever changing climate of competition. One must continuously provide insight and solutions to issues, known and presently unknown through investigation and collaboration. Within this paper we will look into four businesses and their use of innovation in attempt at a better business or greater market share. The innovative businesses of interest are: Taco Bell, Zipcar, Dollar Shave Club and Kickstarter.