Learning Team Project Selection

Running head: STRATEGIC PLAN AND PRESENTATION 1

Xerox Inc. is a multinational company that focuses on the management of information and hard copy documents by manufacturing an assortment of products such as printers, photocopiers, other printing equipment and a range of digital information and production machines. Through the assembling and production of such equipment Xerox, Inc. has, therefore, solidified its strategic position in the information management through the use of hard copy media storage. This paper will focus on highlighting various essential items in the strategic plan of the Xerox Company. The essential items under consideration have been in use at the different management level within this organization. This report will also focus on the primary driving factors. Xerox, Inc. has a long history rich and dotted with numerous changes in the organizational and cultural change since its establishment. The changes have driven the firm from the simple manufacturers of printers many years ago to the modern that is diversified in information management. Xerox has a unique culture of focusing on the needs of customers and delivering innovative products that will satisfy these needs. In the long term, Xerox has been focusing on being one of the industry leaders; delivering innovative products, growing internally, externally in terms of profitability, customer base, capitalization and sustainability.

By overcoming the technological challenges through establishment of special research and development centers, the firm has gained an edge over its competitors in the information management through the application of technology in delivering satisfactory results. This report will also focus on the company values, internal and external environment analysis. Xerox has been grounded on a rich tradition of maintaining success in various sectors by fostering relationships through the satisfied customers, delivery and innovative products, market leadership, value addition and empowerment of its employees as well.

The environmental scan will highlight the internal and external factors that are either driving or slowing down the growth of Xerox. The environmental scan will focus on assessing the factors that will have an impact on the financial and non-financial performance of Xerox. The external environment (opportunities and threats) scan will highlight the effects of the micro and macro-economic factors on the overall performance of the organization; the effects of political, economic, social-cultural, technological, legal and political factors. On the other hand, the internal environment scan will address the strengths and the weakness of this firm.

This paper will assess how the firm has adopted to these changes in becoming a market leader in information management. Xerox is also thriving as a result of combining the grand and generic business strategies and objectives in the long term scope. The focus will be on the marketing, promotion, financial and the non-financial strategies that the organization has put in place in bettering its performance over the years and as a result establish its strategic position in the delivery of innovative and technological products. With the assessment of the grand and generic strategies and how they are likely to affect the performance of the company in future, the complete strategic plan for Xerox, Inc. goes on to assess the best strategies that should be taken into consideration for further growth in performance and managing competition. The recommendations part of the complete strategic plan for Xerox, Inc. assesses and recommends the best approaches to enable a continuous growth in terms of innovation, customer satisfaction, capitalization and profitability. Implementation of the recommended strategies and approaches highlights how Xerox can shift from its current state and face the future with reduced uncertainties. The paper lays bare all the risk contingencies plans that will help Xerox mitigate all the risks attributable to the future and the uncertainties due to implementation of the strategies under consideration.

Strategic Plan and Presentation

Xerox is a global American firm in the document management sector that manufactures and sells a wide variety of products such as printers, photocopiers, digital production, and printing devices. Additionally, the company offers a variety of consultation services on its products and those in the same field (Adrian & Richard, 2003).

Xerox's rich legacy bases much on consumer focus and employee core values that aid in delivering growth, sustainability, and profitability.

Xerox’s mission focuses on becoming the change agents and innovators. This is achieved by utilizing Xerox Lean Six Sigma that continually searches for an enhanced means to meet the difficulties and make business procedure outsourcing, new advances, IT results, items, and administrations for brilliant government and business customers that empower better comes about.

Since Xerox’s initiation, it has functioned under the leadership of six core values:

· Corporate success through customers satisfaction.

· Delivery of excellence and quality in all our operations.

· Requirement of the assets' premium return.

· Technology usage to build market leadership.

· Employees value and empowerment.

· Corporate citizens responsible behavior.

In general, when analyzing the various factors that may affect the growth and subsequent sustainability of a company, looking into the current environmental issues is substantial. This aspect helps understand the areas that need consideration prior to making any decisions. The environment refers to the various factors that have some influence on something, an individual, or a group. Environments differ in the degree of influence they have on the aforementioned. In the business world, an environment earns the name business environment. By definition, business environment refers to the summation of all internal and external forces that have some influence in the general operations of the business body (Adrian & Richard, 2003). Depending on the business structure, the business’ internal and external factors may work in harmony or work separately each having its share of influence on the total business performance. In order to determine the degree of impact and the direction the impacts offers, either positive or negative, there is a great need to conduct an analysis and monitor the various factors. The above factors are possible through environmental scanning, which is an important element of global environmental analysis.

As explained earlier external factors influence the business from outside, including the social factors, microeconomic factors, macroeconomic factors, and technological factors (Xerox Corp., 2013). Each of these factors has varied the impact on the various operational elements of a company. To begin with, the most significant external environmental factor in Xerox’s remote environment will be identified and analyzed. A remote environment refers to the forces that influence the decision making process of a business entity. In the case of Xerox, the most significant remote external environmental force is the technological factor. Xerox has heavily invested in the latest technology with the aim of ensuring it meets the latest technological standards. In this line, the use of great technology has enabled the firm to set its standards upon which the decision of quality production lays.

In the same direction, technological advancements have great influence at the industrial level hence affecting the company’s industrial environment. As previously mentioned, the company has set specific standards that guide the production of their products. The standards ensure the latest technologies are used in the production of Xerox’s products and services. To finalize, technological advancements the company exhibits have great influence on the corporation’s operations. Through the technology the firm uses, it has made its distribution chain easy. The external factors have enabled the firm to handle competition effectively making it part of the pool of market leaders in the document management sector.

For a company to enjoy success and market dominance, it is important for it to conduct a strength analysis to determine the strengths of the firm. Once it identifies its strength, it is at a position to use it in its advantage in the race to acquire business success and market dominance. In Xerox's case, the most significant strengths include the company’s ethics, managements of finances, and human resource management strategies. Xerox has concrete ethical standards that define the company’s code of conduct. In any business, setting ethics plays a great role in guiding the various stakeholders on how to conduct themselves while associating with a business entity. The aforementioned has been of great benefit since it has ensured that the business observes high level of ethics in their daily operations. In addition, its high levels of ethics have served as grounds for practicing high levels of integrity in the business’s operations factors (Xerox Corp., 2013). Adoption of an ethical profile has helped in the creation of a good relationship between the business entity and the various relevant stakeholders.

The other strength is the ability of the firm to manage its financial resources. The firm was able to leverage success from its short-term finances and current asset. In addition, the company has well utilized it working capital, which has resulted to great financial prosperity. Finally, the company has a well elaborate human resource management scheme that has seen the firm create an excellent workforce. The financial resources have led directly to an excellent performance. Xerox has invested heavily in ensuring that diversity is observed in the selection of its workforce. Recently, FORTUNE magazine and Forbes magazine recognized Xerox as part of the top 50 firms that embrace diversity factors (Xerox Corp., 2013).

Every business must have various elements that act as downing force towards its success. Just like any other business, Xerox is not an exception of the previously said. Among the most crucial weakness that have immense influence on the firms operations are high technological prices, stakeholders’ adoption problem to technological changes, and a retiring poll of resources. A greater portion of success in Xerox is from its incorporation of high levels of up-to-date technologies (Zook, 2004). Despite the fact that it brings along some benefits, it also comes at a price. Currently, the firm heavily invests to ensure that it runs with the latest levels of technology. For the achievement of success, it has to channel a lot of its funds into technological advancements, which could have been put into use for other purposes.

The other weakness is the period the stakeholders may take to adapt to technological advancements. Some stakeholders may not understand the need of a given technology and it may take them some time to comprehend its importance. As a result, this may create an opposing force that may lead to the slow implementation of new technologies. Due to the constant change in the face of technology, the firm finds itself with many retired resources that have little economic value to the company. In turn, the company finds itself in a situation where it has to abandon some resources in order to a accommodate others. These resources may include an old workforce, old equipment, and old production techniques among many others factors (Xerox Corp., 2013).

Xerox is an organization endeavoring to movement the legacy view of its brand while amidst conversion. Xerox Corporation Ltd. is an American international record management organization that creates and offers scanners, advanced creation printing presses, a scope of printers both color and black-and-white, multifunction frameworks, and related consulting services and products. Xerox Inc. produce, outlines, supplies, services document equipment, solutions, software, and services to a large community (Xerox Corp, 2013).

Xerox has a generic strategy that has come a long way over the years. Xerox once used product sponsorship primarily as a customer entertainment platform. The document organization has overhauled its market approach in supporting its evolving product and service offering and drive new business. The plan includes three primary components of gaining business from sponsored properties, validating brand story through product/service showcase and using intellectual property and other assets in 360-degree promotion plans and campaigns. In supporting the new strategy, Xerox has expanded its sports-heavy sponsorship portfolio into the world of art as well as diversified entertainment and added global assets that provide international reach and local touch points (Xerox Corp, 2013).

The grand strategy of Xerox is vigorously working to distinguish and fortify its project managed print services (MPS) contributions through both extended services and enhanced go-to-market. An important differentiator for Xerox is its span of service assistance that includes the entire range of printing services; from the office to the print room. Its next production MPS platform is assembled on three pillars, which includes assessing and safe, optimize and incorporate, and simplify and computerize. These fundamentals are maintained by a series of technology, products, and services that help venture activities around benefits, practicality, and expense decrease (Louella, 2014).

Xerox's strategy is to perform a reasonable, reachable, and testing objective which concentrates on expanding the organization esteem and long-term investors’ returns. Xerox's experimentations yield new items and administrations that outpace aggressive dangers since a society that examinations deliver better long-term value. Xerox's technique is to enhance continuously. This serves to ensure against competitive dangers and expands shareholder returns (Louella, 2014).

Strengthen the execution foundation by putting resources into 'safe wagers' is the suggestion. Despite which development technique is picked, a company's foundation must be dependent upon a standard so as to support thriving execution. An on-set duty to making such a framework is a 'safe wager' which involve wiping out departmental or territorial storehouse, using leading pointers and execution drivers that adjust to the methodology and developing leaders of all ranks, which includes managerial and non-managerial (Zook, 2004).

Launch a procedure to distinguish techniques with a high likelihood for achievement could be an alternate critical viewpoint. It is suggested that upper management start the procedure by taking into consideration the development probable inside the current center of the business and/or the prospects and development potential connected by making inventive quality suggestions for underserved client groups. While higher authority group travels throughout this development, it will appear obvious if and when adjoining development alternatives ought to be considered.

Adopting an agreement of artificial goods separation, low-cost management, and item for expenditure extension strategies will help to capitalize on potency, counteracts intimidation as these strategies continue their mission, and organize in a line with their objectives. The company will provide their customers with better substitution. The populace are escalating and growing speedily. In 2009, people aged 65 years and above were in excess in the United States. Forecasts indicate that in 2030, there will be 72.1 million Americans. Xerox has beforehand imitation a procession of products modified to the aging process, heaviness aware, and will extend to produce and get well upon these products. Xerox creates leading boundary products, civilizing based on the over-riding ahead of them when required, and use their superseding market split to carry on low expenses.

To put into practice a tactical map productively, Xerox must recognize temporary objectives, landmark, and deadline; kick off precise practical strategy; converse strategy that authorize populace in the association, while satisfying them efficiently; allocate job possession to precise everyday jobs; and assign possessions. Xerox temporary necessities comes in with the developed project in flanked by 5 to 6 percent as well as compose larger both innovative products and recuperate available goods. “Short-term objectives are experimental result probable or predictable to be attaining in one day or fewer. This plan is based on a set of goals that is also obtained by conflicts to be better understood for the important problems to meet and comment development with the necessities to be acknowledged for quantity (Ross, 1996).

All these strategies will be processed for its temporary goals in the environment with tactics so powerful for the complete period in to its responsibility. Practical approaches are the behavior that must be finished to appreciate the temporary objective. The company is however performing well because it has been capable of transforming positive cash flows from its operating activities and the company is further operating at high profit margins despite the heavy competition it faces at the market. However, Xerox remains a valuable company that one can invest in because it has a commanding lead in the field of office technology, and it has exhibited an effective marketing strategy through provision of groundbreaking items through a continuous expansion of the customer base.

The company’s stock is making returns quickly and frequently for its investment on the company’s shareholders. Through dedicated leadership and strategic management, the company has been able to restructure its priorities by placing employee culture and customer service before and everything else. Xerox as a company, also appreciates the importance of its workers as being a valuable line of communication for customer satisfaction and the general public image. Xerox has apart from investing highly in the development and research also created a strong public image so as to create innovative new products that suit the customers. It is through these information technology based products that Xerox has been able to streamline its business operations and therefore to help the company to save substantial amounts of money.

The company is performing well because it has been capable of transforming positive cash flows from its operating activities and the company is further operating at high profit margins despite of the heavy competition it faces at the market. However, Xerox remains a valuable company that one can invest in because it has a commanding lead in the field of office technology and it has exhibited an effective marketing strategy through provision of ground breaking items through a continuous expansion of the customer base. The company’s stock is quickly and frequently making returns for its investment for the company’s shareholders. Through dedicated leadership and strategic management, the company has been able to restructure its priorities by placing employee culture and customer service before and everything else. Xerox as a company, also appreciates the importance of its workers as being a valuable line of communication for customer satisfaction and the general public image. Xerox has apart from investing highly in development and research also created a strong public image in order to create innovative new products that suit the customers. It is through these information technology based products that Xerox has been able to streamline its business operations and therefore helping the company to save substantial amounts of money.

Adrian. S., & Richard. W., (2003). Six principles for making new growth initiatives work, Ivey Business Journal, (4), pp. 15-25

George S., Philip E., & Lawrence S., (1992). The new rules of corporate strategy. Harvard Business Review.(23)45-63.

Louella. F., (2014). Xerox Progresses Next Generation MPS Strategy. Retrieved from http://industryanalysts.com/xerox-progresses-next-generation-mps-strategy-louella-fernandes/

Ross, J. R., (1996). Benchmarking: Improving Performance Through Standards of Comparison, Stores, 78, (11), pp. 53–54.

Xerox Corp., (2013). Inside Xerox’s Evolving Sponsorship Strategy. Strategy. Retrieved from http://www.sponsorship.com/iegsr/2013/10/07/Inside-Xerox-s-Evolving-Sponsorship-Strategy.aspx

Zook. C., (2004). In Beyond the Core. Harvard Business School Press.