approx 1200 words required, must cover all points · Explain why this opportunity/threat was selected, and how it is anticipated to benefit the organization. · Create at least 3 measurable project obje

Apple Inc Project Metrics

Apple Inc. Project Metrics

What is next for the technology giant Apple? Apple Inc. has been able to rapidly introduce new and innovative new products before the marked even knew they wanted it. This level of groundbreaking product release has given Apple unbeatable brand equity. By determining its next project, objectives and metrics are vital to keeping the brand alive and relevant. Extended reality is a developing technology that has created an unmet opportunity for Apple Inc.. The company needs to invest in the development of Extended reality products and wearables to advance its goals, which will grow its competitive advantage.

Opportunity

According to the Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis, Apple Inc.’s greatest strength is its brand equity. Apple Inc. is a well known and loved brand coupled with its ability to rapidly innovate new products for consumer demands of emerging technology makes Apple Inc. a giant in its industry (Rothaermel, 2019). Apple Inc.’s SWOT analysis also indicates its opportunities include continued innovation and expansion into current and new product lines.

Taking Apple Inc.’s strength and opportunity into consideration, it is no question that Apple Inc. could successfully launch a new project line. A growing trend in consumer electronics is Extended Reality (Marr, 2019). Apple Inc. can leverage this expanding interest and introduce a complimentary Extended Reality product to keep up with consumer demands while maintaining or to grow its competitive advantage.

Apple Inc. will benefit from embarking on a new project based on extended reality. The extended reality project will contain three primary objectives. These goals would include software and coding, engineering and development, integration of advanced technology into Apple Inc.’s long term goal. The extended reality project must be completed for Apple Inc. to keep up with current technology trends; if not they run the risk of falling behind the curve and losing customers (Marr, 2019). The project will also serve Apple Inc. by adding value to already existing product lines while enticing new customers to buy not only the extended reality products but also other products currently produced (Rothaermel, 2019). Finally, this project will benefit Apple Inc. by propelling the company into a closer, completed version of its long-time goal of a fully autonomous driving car (Apple Inc., n.d.).

Project

The first objective to manipulate current software and coding that would allow the fusion of an extended reality product into their existing product lines such as the iPhone, gaming apps on Arcade App store, and Apple HomeKit. The second objective is to engineer and innovate current technology into complementary wearables to include full headsets and or glasses with extended reality capabilities that seamlessly integrate with current Apple products and games. The final objective would use this newly developed software and hardware and apply them toward Apple Inc.’s long term goal of fully autonomous driving cars. Extended reality will launch Apple Inc. into a new and unmet opportunity both within its company and in the industry.

Completion of these objectives requires the project to follow the timelines and responsibilities outlined in the following Responsibility Assignment Matrix or RACI Chart (Haworth, 2018).

Determination of timelines for this scope of a project will occur at benchmarked accomplishments in each area’s objective. Through this RACI Chart, every step of the project requires a constant flow of information to CEO Tim Cook. The Senior Vice President (SVP) of each discipline and their department will be responsible for the completion of that department's aligned goal while keeping lines of communication of information and consultation open within departments (Apple Inc., n.d.).

These objectives are appropriate for the project because the goals align with project completion. These goals are also broad in scope and leave room for individual innovation for the greater good of the company. The project's generalized goals of this project initiate the top-down planning by Apple Inc. executives; however, it does not tighten the project planning to a point where bottom-up emergence is impossible (Rothaermel, 2019). Allowing the creative minds that Apple Inc. hires to fully have the capabilities to explore and invent their ideas.

The completion of this extended reality project will expand Apple Inc.’s current competitive advantage. Currently, there is a vacancy in the extended reality niche within the industry. Apple Inc. filling this void will give Apple products a more substantial perceived value to its current customers as well as future buyers (Rothaermel, 2019). Furthermore, completion of this project will aid in Apple Inc.’s ability to advance toward its long-time goal of the development of a self-driving car.

Metrics

An extended reality project will require time and resources to accomplish. The length of requires this project's achievements to be evaluated by each stage of the project's objectives. Metrics will be used to determine if Apple Inc. is meeting the strategic goals of the extended reality project. To measure these, Apple Inc. should use the balanced scorecard method and economic value creation to calculate achievement and the companies competitive advantage.

The balanced-scorecard approach will ask and answer the questions of how customers and shareholders view Apple Inc., how the project is creating value, and what core competencies are needed? This methodology is appropriate during all three objectives of the extended reality project. This metric will particularly help during the manipulating and creating current and new software objectives by answering the question to the metric of what the consumer thinks of Apple Inc. It will give Apple Inc. insight into future production, needed services, production costs, and pricing (Rothaermel, 2019). Determining the customer perspective during software and coding development will allow Apple Inc. to evaluate where the software is versus where the customer demands it to be. It will also be vital to address why core competencies exist and what needs further development (Rothaermel, 2019). These internal and external metrics will give Apple Inc. a balanced-score card view of their competitive advantage.

The economic value creation method is also an appropriate measure to evaluate during the production of the product. At the product engineering objective, it will be vital to understand what the consumer is willing to pay and how much it will cost to produce the extended reality wearables. Economic value is the difference between the cost and what the customer is willing to pay. This value is directly related to Apple Inc.’s competitive advantage.

Both of these metrics combined will be needed to advance toward the project’s final objective. The evaluation of the internal and external forces of the balanced scorecard will be required to further progress toward the creation and ultimate release of the Apple Car. Continuing to evaluate the customers’ and shareholders’ view of Apple Inc. will be imperative. If the long-term goal of Apple Inc. is to develop a self-driving car monitoring these aspects will determine how much research and development can be continued to invest in the goal.

The progress made throughout each of these objectives will be a hard task. How does one determine the success of a project when the bar to measure it has not just been moved the bar is reinvented in its entirety. To measure the progress of each objective Apple Inc. will have to get creative when analyzing each goal.

While reengineering current software and coding, Apple Inc. can measure their progress by periodically receiving feedback from current IOS users. In doing so, Apple Inc. will determine if changes to the interface create value or frustrate its users. This will tie directly into the balanced scorecard as well as economic value creation.

During product engineering and hardware, development progress can be measured by conducting focus groups with existing and new customers. These selected individuals can use prototyped full-headsets and or eyewear. This will enable feedback from the market on use, feel, portability, and many other characteristics of the wearable. This progress will also tie directly into the competitive advantage calculations through balanced-score cards as well as economic value.

Lastly, conducting market surveys to both current and potential customers can measure the progress of a fully autonomous car. These surveys can ask and answer questions about the desire to obtain this “coming-soon” product. Dependent on the buzz and consumer demand for the Apple Car, the company will have a good idea of limits of cost to produce as well as what the consumer will spend and want.

Conclusion

Apple Inc.’s ability to swiftly launch new products to stay ahead of trends and raise the bar in current trends is astronomical. Apple Inc. cultivates the talent to introduce products that have pioneered this generations technology advancements. Investment into extended reality as the companies next project will add to their legacy. Extended reality is a niche in the industry as of yet is an unmet opportunity primed for profit. Through the objectives of manipulating current software and coding, engineering of hardware, and advancing the companies long-term goal, this project's objectives fit well with Apple. Using balanced scorecards and economic value creation Apple Inc.’s investment into extended reality products and wearables to advance its company goals, while measuring current successes. Launching an extended reality project will increase Apple Inc.’s competitive advantage.

References

Apple Inc.. (n.d.). Retrieved from https://www.apple.com/.

Haworth, S. (2019, November 9). Create A Responsibility Assignment Matrix (RACI chart) That Works. Retrieved from https://thedigitalprojectmanager.com/raci-chart-made-simple/.

Marr, B. (2019, October 18). The 7 Biggest Technology Trends In 2020 Everyone Must Get Ready For Now. Retrieved from https://www.forbes.com/sites/bernardmarr/2019/09/30/the-7-biggest-technology-trends-in-2020-everyone-must-get-ready-for-now/#cea5ebc22615.

Rothaermel, F. T. (2019). Strategic management (Fourth). New York: McGraw-Hill Education.