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Xeros's Keys to Success
Transcript of Xeros's Keys to Success
Having less income because of the new business
High costs for Xeros polymer beads
Gain more investment through stock market flotation of the company Xeros
Organisationally, the main challenge for Xeros is to manage their growth in order to maintain their competitive edge.
Adapt objectives and strategies to stay ahead.
Differentiate their product by creating the same technology for domestic cleaning appliances.
Through clear communication of growth strategies
Create an innovation culture
Organisational Challenges - 12 months
Recruiting and employing staff with appropriate skills and knowledge
Developing a culture that facilitates innovation
Clear communication of organisational goals and strategies
Market Challenges - 5 years
International advertising and publicity
Clearer long term plans
Improvement and adjustment of the product
Organisational Challenges - 5 years
Differentiate the product and business to facilitate growth
Manage company growth effectively
Can the company be successful in light of these challenges?
Yes, provided they generate strategies and maintain a clear objective.
Xeros's Keys to Success
Market challenges - 12 months
Financial Challenges - 5 years
Cost of exploring domestic viability as well as commercial use of the machines
Research & Development investment
More competitors will join the market in the long run. Xeros would lose market share
Difficulties of having a new business and innovation
Building customer loyalty in a short amount of time
Creating the Growth by persuading customers that the company’s idea is viable and will remain flexible
The Xeros company was founded in 2006, with a mission to revolutionalise the laundry industry with the power of polymer bead cleaning.
The beads are recyclable, once they need to be replaced (only after thousands of washes) they are never thrown away to occupy a landfill, but are collected and re-used by other industries.
The product is created to save water and money with superior cleaning after 30 years of specific research to generate the unique cleaning system.
The revolutionary polymer beads are able to absorb dirt and hardest stains, stray dye, carrying them away from fabrics.
In terms of financial aspect, the main challenge for Xeros is to reduce the cost and attract more investment to gain market share by having a competitive advantage
Economies of scale; set up the barriers of entry
Keep investing in R&D to expand the beneficial applications of the technology.
Continue to use an open innovation policy to reduces the company's potentially high R&D costs
From a marketing perspective, creating and developing clever marketing strategies is the key for achieving differentiation in the market and directly raising sales.
Achieve customer loyalty with gaining their trust.
Improve the products
The company should plan its strategies and generate solutions for improvement according to analysis of customer data (behaviour-feedback).
The creation of tablets instead of beads.
Plan to Overcome Challenges
Beware, unpredictable factors such as an economic crisis or competitors.