XEROX CORPORATION As of 2010, Xerox Corporation (NYSE: XRX) is a $22 billion, multinational company founded in 1906 and operating in 160 countries. Xerox is headquartered in Norwalk, Connecticut, and employs 130,000 people. How does a company of such size and magnitude effectively manage experiences? Such companies depend on the productivity and performance of their employees. The journey over the last 100 years has withstood many successes and failures. In 2000, Xerox was facing bankruptcy after years of mismanagement, piles of debt, and mounting questions about its accounting practices. and motivate employees from diverse backgrounds and Anne Mulcahy turned Xerox around. Mulcahy joined Xerox as an employee in 1976 and moved up the corporate ladder, holding several management positions until she became CEO in 2001. In 2005, Mulcahy was named by Fortune magazine as the second most powerful woman in business. Based on a lifetime of experience with Xerox, she knew that the company had powerful employees who were not motivated when she took over. Mulcahy believed that among other key businesses changes, motivating employees at Xerox was a key way to pull the company back from the brink of failure. One of her guiding principles was a belief that in order to achieve customer satisfaction, employees must be treated as key stakeholders and become interested and motivated in their work. Mulcahy not only successfully saw the company through this difficult time but also was able to create a stronger and more focused company. In 2009, Mulcahy became the chairman of Xerox's board of directors and passed the torch to Ursula Burns, who became the new CEO of Xerox. Burns became not only the first African American woman CEO to head a Standard & Poor's (S&P) company but also the first woman to succeed another woman as the head of an S&P 100 company. Burns is also a lifetime Xerox employee who has been with the company for over 30 years. She began as a graduate intern and was hiredcreated a strong and successful business but encouraged individuals to speak their mind, to not worry about hurting one another's feelings, and to be more critical. Burns explains that she learned early on in her career, from her mentors at Xerox, the importance of managing individuals in different ways and not intentionally intimidating people but rather relating to them and their individual perspectives. As CEO, she wants to encourage people to get things done, take risks, and not be afraid of those risks. She motivates her teams by letting them know what her intentions and priorities are. The correlation between a manager's leadership style and the productivity and motivation of employees is apparent at Xerox, where employees feel a sense of importance and a part of the process necessary to maintain a successful and profitable business. In 2010, Anne Mulcahy retired from her position on the board of directors to pursue new projects. Discussion Questions: 1. In terms of the P-O-L-C framework, what values do the promotion and retention of Mulcahy and Burns suggest are important at Xerox? How might these values be reflected in its vision and mission statements? 2. How do you think Xerox was able to motivate its employees through the crisis it faced in 2000? 3. How do CEOS with large numbers of employees communicate priorities to a worldwide workforce? 4. How might Ursula Burns motivate employees to take calculated risks? 5. Both Anne Mulcahy and Ursula Burns were lifetime employees of Xerox. How does an organization attract and keep individuals for such a long period of time?
XEROX CORPORATION As of 2010, Xerox Corporation (NYSE: XRX) is a $22 billion, multinational company founded in 1906 and operating in 160 countries. Xerox is headquartered in Norwalk, Connecticut, and employs 130,000 people. How does a company of such size and magnitude effectively manage experiences? Such companies depend on the productivity and performance of their employees. The journey over the last 100 years has withstood many successes and failures. In 2000, Xerox was facing bankruptcy after years of mismanagement, piles of debt, and mounting questions about its accounting practices. and motivate employees from diverse backgrounds and Anne Mulcahy turned Xerox around. Mulcahy joined Xerox as an employee in 1976 and moved up the corporate ladder, holding several management positions until she became CEO in 2001. In 2005, Mulcahy was named by Fortune magazine as the second most powerful woman in business. Based on a lifetime of experience with Xerox, she knew that the company had powerful employees who were not motivated when she took over. Mulcahy believed that among other key businesses changes, motivating employees at Xerox was a key way to pull the company back from the brink of failure. One of her guiding principles was a belief that in order to achieve customer satisfaction, employees must be treated as key stakeholders and become interested and motivated in their work. Mulcahy not only successfully saw the company through this difficult time but also was able to create a stronger and more focused company. In 2009, Mulcahy became the chairman of Xerox's board of directors and passed the torch to Ursula Burns, who became the new CEO of Xerox. Burns became not only the first African American woman CEO to head a Standard & Poor's (S&P) company but also the first woman to succeed another woman as the head of an S&P 100 company. Burns is also a lifetime Xerox employee who has been with the company for over 30 years. She began as a graduate intern and was hiredcreated a strong and successful business but encouraged individuals to speak their mind, to not worry about hurting one another's feelings, and to be more critical. Burns explains that she learned early on in her career, from her mentors at Xerox, the importance of managing individuals in different ways and not intentionally intimidating people but rather relating to them and their individual perspectives. As CEO, she wants to encourage people to get things done, take risks, and not be afraid of those risks. She motivates her teams by letting them know what her intentions and priorities are. The correlation between a manager's leadership style and the productivity and motivation of employees is apparent at Xerox, where employees feel a sense of importance and a part of the process necessary to maintain a successful and profitable business. In 2010, Anne Mulcahy retired from her position on the board of directors to pursue new projects. Discussion Questions: 1. In terms of the P-O-L-C framework, what values do the promotion and retention of Mulcahy and Burns suggest are important at Xerox? How might these values be reflected in its vision and mission statements? 2. How do you think Xerox was able to motivate its employees through the crisis it faced in 2000? 3. How do CEOS with large numbers of employees communicate priorities to a worldwide workforce? 4. How might Ursula Burns motivate employees to take calculated risks? 5. Both Anne Mulcahy and Ursula Burns were lifetime employees of Xerox. How does an organization attract and keep individuals for such a long period of time?
Chapter2: Planning, Implementing, And Evaluating Marketing Strategies
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Transcribed Image Text:XEROX CORPORATION
As of 2010, Xerox Corporation (NYSE: XRX) is a $22 billion, multinational company founded
in 1906 and operating in 160 countries. Xerox is headquartered in Norwalk, Connecticut,
and employs 130,000 people. How does a company of such size and magnitude
effectively manage
experiences? Such companies depend on the productivity and performance of their
employees. The journey over the last 100 years has withstood many successes and
failures. In 2000, Xerox was facing bankruptcy after years of mismanagement, piles of
debt, and mounting questions about its accounting practices.
and motivate employees from diverse backgrounds and
Anne Mulcahy turned Xerox around. Mulcahy joined Xerox as an employee in 1976 and
moved up the corporate ladder, holding several management positions until she
became CEO in 2001. In 2005, Mulcahy was named by Fortune magazine as the second
most powerful woman in business. Based on a lifetime of experience with Xerox, she knew
that the company had powerful employees who were not motivated when she took
over. Mulcahy believed that among other key businesses changes, motivating
employees at Xerox was a key way to pull the company back from the brink of failure.
One of her guiding principles was a belief that in order to achieve customer satisfaction,
employees must be treated as key stakeholders and become interested and motivated
in their work. Mulcahy not only successfully saw the company through this difficult time
but also was able to create a stronger and more focused company.
In 2009, Mulcahy became the chairman of Xerox's board of directors and passed the
torch to Ursula Burns, who became the new CEO of Xerox. Burns became not only the
first African American woman CEO to head a Standard & Poor's (S&P) company but also
the first woman to succeed another woman as the head of an S&P 100 company. Burns
is also a lifetime Xerox employee who has been with the company for over 30 years. She
began as a graduate intern and was hiredcreated a strong and successful business but
encouraged individuals to speak their mind, to not worry about hurting one another's
feelings, and to be more critical. Burns explains that she learned early on in her career,
from her mentors at Xerox, the importance of managing individuals in different ways and
not intentionally intimidating people but rather relating to them and their individual
perspectives. As CEO, she wants to encourage people to get things done, take risks, and
not be afraid of those risks. She motivates her teams by letting them know what her
intentions and priorities are. The correlation between a manager's leadership style and
the productivity and motivation of employees is apparent at Xerox, where employees
feel a sense of importance and a part of the process necessary to maintain a successful
and profitable business. In 2010, Anne Mulcahy retired from her position on the board of
directors to pursue new projects.
Discussion Questions:
1. In terms of the P-O-L-C framework, what values do the promotion and retention of
Mulcahy and Burns suggest are important at Xerox? How might these values be
reflected in its vision and mission statements?
2. How do you think Xerox was able to motivate its employees through the crisis it faced
in 2000?
3. How do CEOS with large numbers of employees communicate priorities to a
worldwide workforce?
4. How might Ursula Burns motivate employees to take calculated risks?
5. Both Anne Mulcahy and Ursula Burns were lifetime employees of Xerox. How does an
organization attract and keep individuals for such a long period of time?
Expert Solution
Step 1
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The principles of management have been categorized into the four major functions of planning, organizing, leading, and controlling popularly known as the P-O-L-C framework.
Planning
planning is the first and most important function when it comes to talking about management it involves setting objectives and determining the process or the action plan to achieve those predetermined objectives. initially, planning starts by a manager who understands their condition and the working environment of the organization and who is able to effectively and efficiently analyse the future conditions, and who can bring best from the organization
Planning basically involves includes selecting missions and targets and the activities to realize them, it requires choice-making, i.e. choosing future courses of activity from among choices.
Organizing
Once a supervisor has made a work arrangement, the following stage within the administration cycle is to organize the individuals and other assets essential to carry out the arrangement. Organizing ought to too consider the assets and physical offices accessible, in arrange to maximize returns with least use.
Leading
Organizations when they grow develop a structure that is solid and the change is impossible, develop complex structures with an increasing need for coordination and control.
To cope and manage such situations, leadership is necessary to influence people and to motivate the employees to work for the corporate goals while managing their personal goals
Controlling
Managers in all levels of management engage in controlling to some degree. Two traditional control techniques are budget and performance audits. An audit is basically a physical examination and verification of the organization’s records and supporting documents. A budget audit provides a brief on the organization's track with respect to procedures followed for financial planning and control
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