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- Title
Crisis-Driven Strategy: A Case of Xerox Corporation.
- Authors
Patnaik, Rajnandan
- Abstract
Visualizing the future and making adequate provisions to deal with it objectively can be termed as strategy. Strategy is an exercise that visualizes or anticipates the future and acts accordingly to achieve some form of competitive advantage. Hence, strategy is an intellectual process, the conscious determination of course of action, the basing of decisions on purpose, facts and considered objectives. Moreover, strategy involves creating plans through alternative courses of action, with a view to implement the same in future to synchronize with the changing environment. Strategy can give results only after it is followed with considerable consistency. In other words, a strategy needs to be stuck with for a reasonable time, in order to get results. A strategic plan considers this long-term perspective and configures the actions to achieve the desired objectives. However, it is seen that strategic plan sometimes misses its mark completely. The reason for this radical miss is explained through the complexity of the elements that creates inertia in the organization. The framework proposed in this paper is crisis-driven strategy that brings in flexibility with the help of complexity theory, which holds the potential to aid strategic planning, explain the approach to strategy, and overcome the organizational inertia, as well as to indicate the idiosyncrasies that exist in achieving the turnaround objectives. The methodology considered is the analytic induction technique with the case of Xerox Corporation that has found some good turnaround CEOs internally, who happen to be women.
- Subjects
COMPETITIVE advantage in business; LONG-term business financing; XEROX Corp.; CORPORATE turnaround management; STRATEGIC planning
- Publication
IUP Journal of Business Strategy, 2014, Vol 11, Issue 1, p42
- ISSN
0972-9259
- Publication type
Article