As a household name, Xerox has revolutionized the way businesses operate worldwide since its inception. Initially, Xerox started as a photocopying company, and over the years, it has diversified its product and service offerings to meet the evolving needs of businesses. This article explores the evolution of the business model of Xerox from photocopying to printing.
In the early 1950s, Chester Carlson, the inventor of xerography, founded Xerox Corporation. The company began manufacturing photocopying machines, which allowed the reproduction of printed documents easily. The success of Xerox in the photocopying business was driven by the high-quality output of its machines, which became indispensable to businesses worldwide. With the increase in demand for photocopying requirements, Xerox quickly became the market leader in the industry.
However, Xerox has not rested on its laurels, and it has continued to evolve its business model to stay competitive. In the 1980s, Xerox expanded its business offerings to include printers that could print high-quality images and texts on paper. The addition of printers to its product line has helped Xerox to serve a broader range of customers and meet their printing needs.
In the decades since, Xerox has continued to expand its business by innovating new products and services such as digital printing, document outsourcing, and managed print services. These new business areas have helped Xerox to remain a dominant player in the printing and document management industries.
One specific approach that Xerox has taken to continue its growth is through acquisitions. In 2010, Xerox acquired Affiliated Computer Services, a leading provider of diversified business process outsourcing and IT services. This move helped Xerox to advance its capabilities in document management services and expand its global reach.
In conclusion, Xerox started with a single product line focused on photocopying, and to stay competitive, it diversified its product offerings, including printers, digital printing, document outsourcing, and managed print services. The company’s business model has continuously evolved over the years, and Xerox has remained a global leader in the printing and document management industries. Xerox is an excellent example of how businesses can adapt to changing market conditions by evolving their business models effectively.
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