Conceptualized in 1946 as a manufacturer and supplier of photographic paper and related office equipment, Xerox is presently one of the biggest and oldest document-management company in the world. Xerox, initially known as Haloid, became significantly prominent in 1959 with the introduction of the world's first plain paper photocopier dubbed as Xerox 914. Utilizing the process of xerography or electrophotography, Xerox 914 became an instant office item pursued by countless organizations around the globe. As a result, Xerox business opportunities and market share greatly expanded throughout the 1960s and made scores of long-suffering investors high-flying millionaires.
Today, it boasts of having the competency to manufacture and market various office related and document-management products such as color and black-and-white printers, copiers, digital production printing presses and several related consulting services and supplies. The up-to-date and highly technological-savvy products are the results of Xerox famous research center named Xerox Palo Alto Research Center or Xerox PARC which is at present located in Palo Alto, California.
Currently, Xerox is also the top distributor of cut-sheet paper and a noteworthy contender in the development and supply of office papers in the United States. With a total workforce of more than 50,000 personnel and having operational hubs in many countries, Xerox, since its humble beginning in 1946, is still headquartered in Rochester, New York.
In the midst of the organization's great ascent to the top of their business circle, Xerox supposed unstoppable run and expansion became relatively lethargic post 1970. Many economic and world-related events had caused for this sluggish outbreak. One of the crucial factors which contribute to the mediocre performance of Xerox during this period was the expiration of Xerox's original patent for the plain paper copier. Xerox, after this event, was saturated and engulfed amongst other rising competitors within...