Report on corporate scandal ( XEROX ) Essay Example | Topics and Well Written Essays - 2500 words

Report on corporate scandal ( XEROX ) - Essay Example According to Neasa (2010), the company came to be known in 1959 when it introduced Xerox 914. This increased the company’s revenue to a larger extent and also improved the company’s image to its customers. Many people moved to Xerox as a result and this led to listing of the company by Chicago Stock Exchange and New York stock exchange in 1961. It was the leading company these days. What followed were upcoming corporations with new ideas which brought a lot of competition. Knapp & Michael (2004) states that, with the naming of Archie Mccardell as the president in 1971, the company introduced its first color copier named Xerox 6500. This was meant to increase the company’s sales and especially to print shops. This was followed by constant and frequent advertising which made multitudes turn their attention to the product. The company expanded widely and ventured into production of electronic memory typewriters which made the company gain 25% market share. Around 1990, the company started developing digital photocopiers which gave it a competitive advantage over its competitors. Drucker (2011), outlines that, in 1999, Richard Thoman from IBM was brought in and made the president of the company. He brought in internal politics and this resulted into his resignation in 2000. The company introduced a red digital x to signify the transition from paperwork to digital. Chesbrough & Rosenbloom (2002), states that with the appointment of Mulcahy as the president in 2000, the company underwent a great transition which increased its profitability largely, making its initial good image resume. On April 11, 2002, the U.S Securities and Exchange Commission filed a case against Xerox for deceiving the public through use of accounting irregularities. It started investing more in research and development in order to come up with new ways and products