Xerox Modicorp Manufacturer of Photocopiers and its Accessories - A Case Study on Innovative and Entrepreneurial Practices by an Indian SME
26 Pages Posted: 31 Jul 2006
Date Written: October 20, 2006
While the industrial age was looming high in the western hemisphere, India was still lagging behind the tall promises it had laid to the greater population of Independent India. Xerox Modicorp, erstwhile Modi Xerox was the outcome of one man's vision who ventured to a dream project that would redefine photocopying business in the Asian subcontinent. In between the year 1960s and 1970s Dr. Bhupendra Kumar Modi, erstwhile founder Chairman and President, Modi Xerox experienced a first hand "the power of xerography" and to a delight discovered the simple joy of copying reference study material at the touch of a button, a firm full of innovation.
Finally Mr Modi tied up with Rank Xerox, a member of the worldwide Xerox family in United Kingdom. Thus the birth of Dr Modi's Modi Xerox, a joint venture partnership was formed which brought forward to Indian offices a new level of productivity and efficiency in business management. The combination of equity was that Xerox took 68% while Modi retained 22%. Others were given the remaining 10%.
As reiterated, there was a special focus after the liberalization of India & the growth that followed. The large base of Public, Private sector which had not been fully utilized yet offered ample opportunities for Modi Xerox to eye upon for business worthiness. Xerox meanwhile became a $26 billion multinational company-serving document processing marking in 130 countries.
Keywords: Innovative Practices, Radical Innovation, Intrinsic & Extrinsic Motivation, Entrepreneurial Competency, Opportunity Recognition, Risk and Uncertainty
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