This review attempts to summarize the recent Industrial Research Institute article on Xerox's new approach for bringing new technology products and services to market. Established organizations are at a slight disadvantage over startups when moving new or innovative products and services to market. Company's such as Xerox find at times that they are too big for their own good, or worse they find
themselves in a position where investors have no patience and therefore stop new products not expected to bring an immediate return. Imagine a company as well established as Xerox creating an entirely new digital copying system but is not able to bring it to market because of the expectations for a high return on investment by corporate offices, investors and bankers. The fact is that more than just consumers suffer if corporate America is cutting off new technology research and development in the pass.
The Xerox Corporation has been a leading provider of digital printers, copiers, and other related document processing equipment for quite some time. However, even companies with Xerox's track record for success eventually contend with a product that may have reached maturity in the product life cycle. Xerox also must contend that today's highly educated consumers have many comparable alternatives to choose from. The article points out that Xerox has every intention of surviving through new and innovative approaches to getting their technology to market even though global competition continues to mount attacks on the company's market share.
Xerox has taken the necessary steps to rethink their Research & Development, marketing, and sales strategies. The article explains that Xerox is successfully thinking outside of the box. "Drawing upon the lessons it has learned, the company seeks to maximize the value of its technology portfolio through an internal incubation mechanism, as well as to extend its innovation model to business concepts." (Unknown...