- Xerox was founded in 1906 and is headquartered in Norwalk, Connecticut. It has faced continuing problems under previous CEO Peter McColough, who failed to commercialize new technology and had misguided priorities. - To succeed in the future, Xerox needs to focus on business process management, asset sales and cost cutting, following outside advisor recommendations, and clearly articulating its future plans and path to obtaining returns. - Xerox can also improve by better integrating its marketing plan through defining its mission, setting objectives, developing strategy, and monitoring results. With the right changes, Xerox has the opportunity to address its weaknesses and challenges.