Many companies start well in the beginning but keep their eyes off the ball because they did not follow their values they once held dear. Others did not survive the test of time because they lacked the financial support needed to grow and expand. Moreover, some companies just became irrelevant as time went on and subsequently died a natural death.
In simple words, it is never easy for a company to survive many years of economic changes. Therefore I always have great respect for companies like Xerox, who have been able to hold it together over a century and is still considered one of the best companies in postmodern times.
In this article, we take a look at some of the key decisions the company made that puts them above global circumstances. The first thing I have noticed about the company is leadership. The company’s philosophy about corporate leadership is integrated into its recruitment program. The company believes that if it is going to make a real impact in the world, it must first and foremost make human resource a top priority. Attracting the right kind of people who will eventually take over the helm of affairs is an integral part of the company’s vision. In short, human resource is the most important asset for the company.
Another way the company has managed to be one of the best over a period of 100 years is staying relevant. As I mentioned before, many companies die because they were no longer relevant. Xerox has stayed relevant by constantly innovating and inventing new ways to make their products and services relevant to the needs and requirements of their clients. This has been proven over many years of research work into printing technologies that have become legendary in the industry. Some of the works they have done in this regard, have been used by companies like Apple to develop their own systems. For example, Apple McIntosh was an adapted version of Xerox’s GUI system developed in the early 1980s.
Their research work gave them far more advantage over their competitors. They are always one step ahead of the competition. Xerox products (click here ) are preferred choice because they are trusted to deliver what is promised. In other words, their credibility and reputation has been unshakable in the face of all the challenges.
This is a great lesson for all businesses whether big or small to emulate the examples outlined above.