Case Study Of Ricoh's Founding Principles Of Business
Industry description
Ricoh is active in many different markets, we decided to focus on the Management Print Services (MPS) market on European level. The MPS market focuses on providing services to businesses to manage or optimize a company’s document output. It is still a growing market, according to Technavio the market will grow with an annual growth rate of 10.1 percent over the period 2014-2019. Ricoh is even setting the bar a bit higher, in the next 3 years they expect a growth rate in their services of approximately 30% according to QuoCirca.
The facts and figures of Ricoh.
As you can see in the chart the sales of their core business production printing has been stable the last 5 years. This even with the economic downturn. …show more content…
Strategy and goals of the company
RICOH has a founding principle which is called the Spirit of Three loves.
“Love your neighbor” “Love your country” “Love your work” – Kiyoshi Ichimura, Founder
Kiyoshi Ichimura formulated the Ricoh Group’s Founding Principles in 1946. They inform how we do business, encouraging us to constantly improve and contribute to the wellbeing of all stakeholders, including our families, customers and society at large.
Mission: ‘At the Ricoh Group, we are committed to providing excellence to improve the quality of loving and to drive sustainability’.
Vision: ‘To be the most trusted brand with irresistible appeal in the global market.’
Values: ‘To be one global company, we must care about people, our profession, our society and our planet. We must dedicate our winning spirit, innovation and teamwork to sharpen our customer centric focus, and we also must commit to the highest standards of ethics and integrity.’ …show more content…
Secondly, strong brand name such as Xerox, HP, and Ricoh have a strong presence and market share in the MPS market, thus for new competitors it requires large capital costs for branding, advertising and creating capital demand. Thirdly, dominant leaders in the market offer their unique services and solutions to their customers (limited customization). Having said that, the MPS market is still relatively new, profitable business and is inducing lots of companies to make a major shift toward providing services and solutions, in order to differentiate themselves from their competitors. Well-established companies that are trying to add a new revenue stream and improve their profit margin are entering the MPS market by means of inorganic strategy. Lots of qualified companies are also entering the market to serve the medium and small companies, they often offer a unique approaches to customer's problems by providing services and solution that are tailored to their
Ricoh is active in many different markets, we decided to focus on the Management Print Services (MPS) market on European level. The MPS market focuses on providing services to businesses to manage or optimize a company’s document output. It is still a growing market, according to Technavio the market will grow with an annual growth rate of 10.1 percent over the period 2014-2019. Ricoh is even setting the bar a bit higher, in the next 3 years they expect a growth rate in their services of approximately 30% according to QuoCirca.
The facts and figures of Ricoh.
As you can see in the chart the sales of their core business production printing has been stable the last 5 years. This even with the economic downturn. …show more content…
Strategy and goals of the company
RICOH has a founding principle which is called the Spirit of Three loves.
“Love your neighbor” “Love your country” “Love your work” – Kiyoshi Ichimura, Founder
Kiyoshi Ichimura formulated the Ricoh Group’s Founding Principles in 1946. They inform how we do business, encouraging us to constantly improve and contribute to the wellbeing of all stakeholders, including our families, customers and society at large.
Mission: ‘At the Ricoh Group, we are committed to providing excellence to improve the quality of loving and to drive sustainability’.
Vision: ‘To be the most trusted brand with irresistible appeal in the global market.’
Values: ‘To be one global company, we must care about people, our profession, our society and our planet. We must dedicate our winning spirit, innovation and teamwork to sharpen our customer centric focus, and we also must commit to the highest standards of ethics and integrity.’ …show more content…
Secondly, strong brand name such as Xerox, HP, and Ricoh have a strong presence and market share in the MPS market, thus for new competitors it requires large capital costs for branding, advertising and creating capital demand. Thirdly, dominant leaders in the market offer their unique services and solutions to their customers (limited customization). Having said that, the MPS market is still relatively new, profitable business and is inducing lots of companies to make a major shift toward providing services and solutions, in order to differentiate themselves from their competitors. Well-established companies that are trying to add a new revenue stream and improve their profit margin are entering the MPS market by means of inorganic strategy. Lots of qualified companies are also entering the market to serve the medium and small companies, they often offer a unique approaches to customer's problems by providing services and solution that are tailored to their