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You will prepare and submit a term paper on Optional subject ( apple is recommended ). Your paper should be a minimum of 500 words in length.
You will prepare and submit a term paper on Optional subject ( apple is recommended ). Your paper should be a minimum of 500 words in length. [Supervisor Apple I will be conducting a study on the strategic management of Apple and the success factors involved that helped Apple to become one of the most preferred brands. I would consider authentic sources in order to carry out our study like books and articles written by experts that would assist me in finding out the reasons of Apple’s success. I took the book of Thompson & Frank on “Strategic Management” for the understanding of the subject. Books are usually very authentic sources for the study as they involve deep study conducted by authors with the strong backing of theoretical concepts. I will also take reference from Lance Whitney and Josh Lowensohn’s articles that would put light on the tactics used by Apple.
Apple has emerged as a renowned and very popular company in the recent past due to its innovative and high quality products. Apple has always tried to come up with customer’s expectations with it continually improving products. It has always looked to bring innovation that has helped the company to compete with other brands. The organizational structure of the company is designed in such a way that it promotes competition and encourages employees to present new ideas. I think it was a very clever move by Apple to adopt innovative strategy with appealing applications as its competitors were not bringing much innovation in their products.
Introduction of iphone was an example of such innovation, which had brought a revolution in the technological world. iphone helped Apple to register revenues of $65,225 million, increasing by 52% in fiscal year 2010. The company also adopted a strategy to market its product worldwide and not restricting it to a particular place, which helped the company to gain significant market share.
Research and development is also a very important aspect for the company. Apple lays strong focus on research and development in the company and always come up with new ideas and suggestion that help the company to develop new products. When the company was entering into the Chinese market, initially it did not get a good response, but extensive research helped the company to make few changes in the product. These changes made it easy for Apple to introduce its product in China, which became a great success. The focus on research and development helps the company to compete with its competitor very efficiently.
Initially, when Apple introduced its smart phones in the market, it was a totally new concept, so it decided to charge higher prices due to the advanced features of its product. However, with time and competition, Apple developed products that competed with other products on cost, without the compromise of quality. This strategy was not only restricted to its smart phones, but it was also adopted for its other products like MacBook Air, which was sold at a competitive price.
The strategy to deal with customers directly also went a long way in the success of Apple. Apple gave its customers an option to seek for the technical assistance on customized bases according to the particular problem. In this way, Apple technicians provided customer support without the need of customer going to retailers for help. It not only reduced time for fixing the problem, but also helped the company to retain customers. This strategy in addition to the above discussed strategy helped the company to become a strong player in the industry.
Innovation and the continuous need of improvement is the key to success in technological sector. Apple took strong care of this aspect and with quality services to the customers. it earned a reputable position in the industry. In my view innovation and continuous research and development was the key to success at Apple. It assisted Apple to compete in a highly competitive industry. It also reduces cost per unit of Apple and improved revenues tremendously.
Works Cited
Haberberg.A & Rieple.A, “Strategic Management: Theory and Application”, Oxford University Press, (2007), pp. 168-175.
Lowensohn. J, “Apple draws up battle strategy against Google at WWDC”, CNET, (2012), pp. 1-3.
Thompson & Martin.F, “Strategic management”, Cengage Learning EMEA, (2010), pp. 428-452.
Whitney.L, “Apples winning strategy: Lower prices”, CNET, (2011), pp. 1-2.
