Sorted! (Pitney Bowes)

Citation

Crainer, S. (2007), "Sorted! (Pitney Bowes)", Strategic Direction, Vol. 23 No. 11. https://doi.org/10.1108/sd.2007.05623kad.001

Sorted! (Pitney Bowes)

Sorted! (Pitney Bowes)

Crainer S. Business Strategy Review, Spring 2007, Vol. 18 No. 1, Start page: 42, No. of pages: 5

Purpose – To describe the way that long-established corporation Pitney Bowes has reinvented itself in pursuit of growth over the last decade. Design/methodology/approach – Observes that the company had achieved a dominant market share in its traditional area of post room products. Explains that in search of growth, it redefined its marketplace to cover document management, adopting the mission statement of “engineering the flow of communication”. States that in redefining its market, Pitney Bowes also wished to address the problem that public familiarity with its franking machines and perception of its well-recognized brand did not match what it actually offered to customers. Discusses the way that these issues have been addressed with chief operating officer Murray Martin and CEO Michael Critelli. Explains how the company distinguished between “bolt-on” and platform acquisitions. States that the first delivered immediate synergies, additional capabilities or new customers who could be merged with the company’s existing customer base and the second type offered a solid infrastructure and value proposition in markets growing faster than the company’s traditional growth rate. Notes the importance that the company has attached to developing a diverse cross-section of executives to support its aspirations for global reach and global growth. Stresses the importance of communication with employees and with customers; the need for clarity of objectives; and measurement of the effectiveness of strategy execution and business development. Originality/value – Shows how one traditional company has increased its rate of organic growth.ISSN: 0955-6419Reference: 36AH105DOI: 10.1111/j.1467-8616.2007.00453.x

Keywords: Business development, Change management, Corporate strategy, Mergers and acquisitions, Pitney Bowes, Strategic choices