I need a thoughtful response to this discussion question.

Despite Xerox paving the way in this industry, it did not take long for the company to endure a long list of competitors who had similar products but took their technological advancements and capabilities to the next level. It is clear that several factors contributed to the downfall of Xerox; however, I believe the most significant factors were technological and social.

Firstly, as more companies such as Heidelberger, Canon and I.B.M. began to enter the industry, they created similar products to those that Xerox already had on the market. However, their machines' technological advancements and speed were much more significant than Xerox's products on the market. Michael Cushing, head of administration for the Overseas Private Investment Corporation, a longtime Xerox customer that could not persuade Xerox to help it hook new copiers into its network" (Abelson. R. et al., 2000). Being a large company in such a competitive industry, you must be willing to change your products or create new ones as technology advances and improves to ensure that your products stay new and desired.

Further, when running a business, the social aspect is critical when working with investors, customers, manufacturers, suppliers, etc. Xenox failed to establish strong mutual relationships with major retail outlets such as Staples and Comp U.S.A. that many companies in this industry did form relationships with (Abelson. R. et al., 2000). In this industry, it is crucial to establish these relationships with these large companies to form partnerships and ensure that your products are being sold alongside competitors in well-known and established stores. Moreover, when rumours circulated about Xerox going bankrupt, they refused to provide investors with more details. These rumours, alongside the chaos that their investors and customers witnessed, caused Xerox a loss in investors and customers and "lost the confidence of their suppliers, technicians and its management" (Abelson. R. et al., 2000).