Presented By Abilash D Reddy Ravindar .

R Sandarsh Suresh

Xerox

An American Multinational headquartered in Norwalk, Connecticut

Their Products include:

Copiers Displays Faxes Printers Projectors Scanners

Xerox

2011 Revenue: $22.6 billion Employees: 140,000 Geographic Scope: 160 Countries

History: founded in 1906 as the Haloid Company

Chairman and CEO: Ursula M. Burns

Chief Executives
1982 1990 David T. Kearns 1990 - 1999 Paul A. Allaire 1999 - 2000 G. Richmond Thoman 2000 - 2001 Paul A. Allaire 2001 - 2009 Anne M. Mulcahy 2009 - present Ursula M. Burns

Logos

About Anne Mulcahy

Named as the second most powerful women in business by fortune magazine during November 2005 She knew the company well

Spent nearly her entire career at Xerox Joined in 1976 as a sales representative Gradually worked her way up, serving as the head of HR She spent 18 years just coming up through the operational ranks

Fall of Xerox

Cash reserves of only $100 million Debt of almost $19 billion The Downturn in the Stock Market

We thought we had coined the term Perfect Storm

What Went Wrong

Customers said Xerox has lost its responsiveness

Employees said they needed a clearer goals and vision

Tech Gurus said Xerox was investing randomly in unattractive markets

Under the Leadership of Anne Mulcahy

Xerox moved from losing $ 273 million in 2000 to earnings of $91 million in 2003 By 2005, profits had reached $ 859 million on sales of $ 15.7 billion Stock prices risen by 75% from 2000 to 2005, compared with a 6% downturn in Dow Jones

What recovered Xerox

An Advice given to Anne Mulcahy by a customer from Texas He told her that she was "like the farmer whose cow was stuck in the ditch, " she recalled. "I was like, 'Oh, really. How so? And he said that the farmer had to get the cow out of the ditch, had to understand how the cow got in and had to make changes so she never got stuck there again

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Mistakes that put Xerox in Ditch

Good ideas, poor execution

Half baked reorganizations Employees unsure of their roles Lack of accountability for anything Lost customer relationships, continuity and trust Employees unwillingness to speak up Everybody in the field knew it was stupid, but nobody said anything

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Road to Recovery Changes Made

Anne undertook listening tours, seeking insights from employees, customers and industry experts on where Xerox had gone wrong Anne had renew her credit line from 58 banks, without which it would lead to bankruptcy This was possible by two of her most influential people:
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2.

Mr. Sandy Weill (former CEO of Citi group) got all the banks to agree for the credit Mr. Warren Buffett who was against his investment but turned out to be a good friend and advisor for the company

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Road to Recovery Changes Made

1. 2. 3.

4.

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Anne laid out a change in their organizational plan Focused on cash generation Employment has dropped from 80,000 to 58,000 Streamlined the company structure and zeroed in on markets where they had a competitive edge Created a work place where workers feel secure in giving honest, constructive feedback The bottom line was to get employees around a common set of objectives When a firm overspends, its often because it has lost its way

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Conclusion

Under Mulcahy, Xerox is a document-management company: It focuses on technologies like scanning, imaging and content management and search. It has long been known as an innovator, and it remains committed to research and development. Over that time, Mulcahy and her team also managed to halve the company's debt and double its equity. Profits are increasing, and Xerox is throwing off a healthy amount of cash. "Most important, we've rebuilt our credibility in the marketplace," she added.

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Thank You

"I don't think I'm a different leader today than I was when I had my first management job. I'm very direct. I'm less into management than I am into working with teams and solving problems. So I'm very engaged and involved, but also, I think, a lot of fun. Even during our darkest days, I'm big on, 'It's a job, so lighten up and don't confuse life and work.' I put a lot of energy into my work, but it's still work.
~ Anne Mulcahy

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