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You will prepare and submit a term paper on The Role and Influence of Technological Innovation in Apple Development. Your paper should be a minimum of 2250 words in length.
You will prepare and submit a term paper on The Role and Influence of Technological Innovation in Apple Development. Your paper should be a minimum of 2250 words in length. Several companies today are caught up in a relentless pursuit of innovation and intentional development of novel ideas, products, and services in a bid to capture the imagination of their target consumers. The role of innovation in organizational development and its contribution to organizational success have been amply substantiated in literature, over the years. Organizational ambidexterity has emerged as one of the most influential concepts in recent times whereby highly creative and innovation-driven organizations have proven their might in the market by not only sustaining their competitive advantage over their rival firms but by leading the industry as well. Apple Inc. is one such example which has managed to successfully evade the competition by constant innovation and research and capturing a relatively larger market share through sheer creativity. The above quote aptly mirrors the collective sentiment at Apple Inc. .
The theory of the firm based on neo-classical economics which deals with the survival of the new entrant in the market states that the key aim of firms as new entrants is profit maximization. Organizations in their initial phase strive to survive in the market by designing their policies in accordance with the present market environment and adapt to their surrounding environment (Hart and Christensen, 2002). This theory helps in assessing and evaluating the various aspects of firm behavior with regard to technological change and the resultant scope of the firm to survive in a new market (Loasby, 1976. Casson, 2005). Apple was founded by Steve Jobs and Ronald Wayne on April 1, 1976, which was mainly focused on designing a personal computer that was popularly known and sold as Apple I. After the incorporation of Apple as a company in the year 1977 the company grew and shifted its strategy to innovation and creativity as the key drivers to sustain the market competition. This strategy helped Apple Inc in introducing highly innovative products in the market based on the latest state-of-the-art technologies that helped them differentiate their products from that of their rivals. (Innovation at Apple, p. 1). The theories of entrepreneurship developed over the years indicate judgemental decision making as a key aspect of entrepreneurial behavior (Shane, 2003). This theory entails that entrepreneurs at times may differ greatly in terms of their strategies by displaying attitudes that exhibit a high degree of optimism which in turn is based on the critical information available at their disposal as well as their conviction to deliver positive outcomes (Casson, 2005). Steve Jobs inspired the culture of innovation at Apple Inc. and created a highly favorable working environment whereby employees were constantly encouraged to come up with innovative and creative ideas. .
