Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

As of 2010, Xerox Corporation is a $22 billion, multinational company founded in 1906 and operating in 160 countries. The journey over the last

As of 2010, Xerox Corporation is a $22 billion, multinational company founded in 1906 and operating in 160 countries. The journey over the last 100 years has withstood many successes and failures. In 2000, Xerox was facing bankruptcy after years of mismanagement, piles of debt, and mounting questions about its accounting practices. Anne Mulcahy turned Xerox around. Mulcahy joined Xerox as an employee In 1976 and moved up the corporate ladder, holding several management positions until she became CEO in 2001. In 2005, Mulcahy was named by Fortune magazine as the second most powerful woman in business. Based on a lifetime of experience with Xerox, she knew that the company had powerful employees who were not motivated when she took over. Mulcahy believed that among other key businesses changes, motivating employees at Xerox was a key way to pull the company back from the brink of failure. One of her guiding principles was a belief that in order to achieve customer satisfaction, employees must be interested and motivated in their work. Mulcahy not only successfully saw the company through this difficult time but also was able to create a stronger and more focused company. In 2009, Mulcahy became the chairman of Xerox's board of directors and passed the torch to Ursula Burns, who became the new CEO of Xerox. Burns is also a lifetime Xerox employee who has been with the company for over 30 years. She describes Xerox as a nice family. Burns explains that she learned early on in her career, from her mentors at Xerox, the importance of managing individuals in different ways and not intentionally intimidating people but rather relating to them and their individual perspectives. As CEO, she wants to encourage people to get things done, take risks, and not be afraid of those risks. She motivates her teams by letting them know what her intentions and priorities are. The correlation between a manager's leadership style and the productivity and motivation of employees is apparent at Xerox, where employees feel a sense of importance and a part of the process necessary to maintain a successful and profitable business. How do you think Xerox was able to motivate its employees through the crisis it faced in 2000? Explain your justification with the help of a motivational theory

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial statements

Authors: Stephen Barrad

5th Edition

978-007802531

More Books

Students also viewed these General Management questions

Question

=8/Can an asset have several values? Why?

Answered: 1 week ago