Apple Inc. is an American company that specializes in the manufacture of computer devices, computer peripherals, and additional software. Apple Inc. majorly produces personal computers. Apple Computer Inc. is officially referred to as Apple Inc. due to its diversification of product in the current age. Additionally, Apple Inc. possesses a robust track record since it the first company to advertise graphical user interfaces. Apple Inc. has its headquarters in California, USA. In this paper, we shall discuss how globalization and technology have affected the company, how the company achieved good profits using industrial organizations and resource-based models, how the organization’s vision and mission are to productivity, and how the various stakeholders have affected the overall success of the company.
Apple Inc. has been ranked number one in the computing market on the Forbes records nine years in a row (Pooja, 2020). Considering that the company is an American international technological enterprise, Apple designs, creates, and sells a variety of technological devices and operations that have substantially transformed the globe. Globalization and technology have influenced the company in diverse functionalities. Global profitability for the financial year ended October 2020 totaled $ 233 billion. As of March 2016, Apple has 480 sales stalls in 17 nations (Pooja, 2020) and has continued to progressively expand its commodities and services across the globe. In addition, there are online Apple and iTunes stores, with over 1 billion Apple products in active use worldwide. As it expands, millions of jobs will be created. Apple employs more than 115,000 full-time employees. This will help boost economies around the world.
Apple Inc. has recorded a tremendous influence upon the globe due to its unmatched technological advancements. “The Macintosh computers, OS X operating system, iPod, iPhone, App Store, iPad, Touch technology, Auto-discovery networking, iBeacons, and Apple TV,” form part of the most vital items rendering Apple incredibly profitable and the globe’s greatest technological corporation by asset value (Heracleous, 2016). The company aspires to make invention in the years to come, with new user-friendly commodities and technologies that continue to define the market (Heracleous, 2016).
Industrial Organization Model
In the industrialized organization and resource-based model, Apple Inc. has a significant possibility of expanding its income. Apple is able to prosper and produce high returns because to the economic principles of the industrial organization model (Heracleous, 2016). Their management team is well-versed in the competitive climate, overall market, creation of strategic plans, resources and competencies, plan implementation, and outstanding yields, all of which help the organization optimize earnings and expand.
The resource-based approach considers assets to be critical to a company’s success (Khan, 2015). It entails possessing the assets necessary to maintain a competitive advantage over time. These assets are aimed at boosting brand loyalty by extending their exploration and improvement initiatives to offer technological breakthrough and commercial goods and services. The company will also be able to keep ahead of the competition in the marketplace if they can stay one step in advance of their competitors (Khan, 2015). Apple has positioned itself as a technical pioneer in the marketplace, which gives the company an upper hand. Their promotion and promotional efforts have raised global recognition of their services and technologies, as well as the demand for them.
Apple`s imaginative and prescient announcement and project announcement are bases of the agency`s fulfillment as one of the maximum precious organizations within the world (Khan, 2015).The modern-day imaginative and prescient announcement, added through CEO Time Cook is: “We consider that we’re at the face of the earth to make brilliant merchandise and that`s now no longer changing. We are continuously specializing in innovating. We consider within the easy now no longer the complex. We consider that we want to very own and manage the number one technology at the back of the goods that we make, and take part best in markets wherein we will make a huge contribution. We consider in pronouncing no to lots of projects, in order that we will sincerely recognition at the few which might be virtually critical and significant to us. We consider in deep collaboration and cross-pollination of our groups, which permit us to innovate in a manner that others cannot. And frankly, we don`t accept whatever much less than excellence in each institution within the agency, and we’ve the self- honesty to confess while we`re incorrect and the braveness to change. And I suppose irrespective of who’s in what activity the ones values are so embedded on this agency that Apple will do extraordinarily well,”( Khan, 2015). It information the agency`s substantial and complete method for persevered fulfillment, emphasis on innovation, strategy, design, marketplace selection, product development, organizational tradition and agency direction.
“Apple designs Macs, the best personal computers in the world, as well as OS X, iLife, iWork, and professional applications,” reads Apple’s official mission declaration. Apple’s iPods and iTunes online stalls are some or the leading industries in the computerized audio industry. Considering the world’s renowned iPhone and App Store, Apple has brought transformation in the smartphone market. Also, the iPad is shaping the destiny of portable content and computer gadgets (Khan, 2015) It is not as lengthy or comprehensive as the vision declaration, and it may be enhanced by broadening its coverage to incorporate information on Apple’s many corporate divisions (Khan, 2015). There is no mention of industrial supremacy, invention, corporate culture, or consumer contentment in this list of contemporary Apple devices and technologies.
Apple has been able to please its stakeholders by meeting the expectations that have been placed on it (Purkayastha, 2015). In respect to consumer impression and revenue income, stakeholders have a big influence on the firm (Purkayastha, 2015). Apple has a strong track record of meeting its global societal obligations through fulfilling stakeholders’ needs (Purkayastha, 2015).
Customers/Consumers are Apple’s most important stakeholders whenever it comes to developing global societal obligation initiatives. It comprises both personal and corporate Apple product purchasers. Customers’ concerns, as the company’s major stakeholders, stay at the forefront of its commercial social obligation initiatives (Purkayastha, 2015).
Apple’s Employees- Apple’s staff members are their second-most important stakeholders, since the company’s primary goal is to keep its staff members well-paid and improve their professions. Keeping its workers satisfied boosts morale and encourages them to produce cutting-edge technologies and successful commodities for the market (Purkayastha, 2015). Apple’s performance relies heavily on software engineers, development and layout designers, servicing experts, administrative and sales employees.
Investors and partners are important stakeholders and promoters of emerging commercial and research expansion funding. Investors’ main goal is to get the most money out of their assets. Apple is in a solid economic posture since it is one of the globe’s most lucrative firms with huge profitability ratios. Investors continue to be satisfied by the company’s good economic success.
Employees of Apple’s suppliers and distributors are in charge of ensuring that the standard materials and essential supplies are used to manufacture the unique goods that assure Apple’s profitability. The Supplier Code of Conduct addresses critical issues such as sustaining strong moral work rules, appropriate remuneration, and employment stability in their supply chain (Purkayastha, 2015).
Apple’s management has been pursuing the music business considering iTunes accounts are a substantial portion of the company’s profits. To provide clients with the user-friendly technologies they require, they are continually introducing performers and tracks to iTunes. As a result, Apple’s prospective performance is also affected by its strategic management and competition.
As the company continues to develop new and innovative products and services and gain market share, it is ahead of its competitors in increasing brand loyalty. There is a high demand for new user-friendly technologies and people around the world are looking for ways to increase their productivity. The company will continue lead in software and technology as they continue to leverage products and applications to invent and find new market inefficiencies to address them. The management of the company should continue with their investment, research and development efforts to stay at the forefront of technology. They need to stick to the main goals of the vision, stay ahead and stay focused to maintain their competitive advantage.
Heracleous, L., & Papachroni, A. (2016). Strategic Leadership and Innovation at Apple Inc. SAGE Publications Ltd.
Khan, U. A., Alam, M. N., & Alam, S. (2015). A critical analysis of internal and external environment of Apple Inc. International Journal of Economics, Commerce and Management, 3(6), 955-961.
Pooja, B. C. (2020). An Organization Study Report Of Apple Inc (Doctoral dissertation, CMR Institute of Technology. Bangalore).
Purkayastha, A., & Sharma, S. (2016). Gaining competitive advantage through the right business model: Analysis based on case studies. Journal of Strategy and Management.