What Are Some Steps That Xerox Needs to Take to Turnaround Its Operations and Restore Investor Confidence?

What are some steps that Xerox needs to take to turnaround its operations and restore investor confidence?

In order for Xerox to turnaround their operations they need to implement key management strategies consisting of appropriate leadership, internal confidence, as well as a value-added line of aggressively marketed products. By incorporating these essential components, the Board of Directors will be able to effectively manage the company, and in turn the company will operate more productively and be more goal-oriented.

Leadership is defined as "the ability of an individual to influence, motivate, and enable others to contribute toward the effectiveness and success of the organizations of which they are members". In saying this, Thoman was not able to effectively lead the board due to the lack of support and trust the other members had in him. Thoman consistently tried to push through ideas and dictate the pace; however with Allaire still chairman, and Buehler & Romeril as vice-chairmen, his ability to effectively lead was diminished and his ideas were never applied. Going forward, Xerox needs to support any successor that they appoint. This will not only allow for the CEO to fully utilize his skills but it will also allow for any plan to be implemented and put into full force.

In order to restore investor confidence in the company, the employees at the company need to be confident and faithful to their product and service. It appears that Xerox did not have much confidence in it's success given only 5 of the 15 board members owned shares in the company, all of which were fewer than 15,000 shares. This meager investment does not exemplify a company that is faithful and determined to exceed "Street" estimates.

Without a product there would be no need for a management team. Xerox needs to apply its resources in research, development, and marketing in order to stay ahead of the competition. Xerox, historically has led the market with innovative ideas, but has failed miserably at capitalizing on them. A tight knit strategy could help Xerox drive the market and stay afloat.

For a business to be successful it must have an effective management team and an innovative line of products. With some internal restructuring, Xerox will hopefully be able to turnaround their operations and restore investor