Apple Inc. is one of the world’s most innovative companies that have revolutionized the electronic technology sector. The ballooning financial revenue of the world giant of technology can solely be attributed to their continued innovation and production of new models of devices as well as embracing up to date business models. No wonder, for only a period of five years, the annual revenue of the organization has been on an upward trend to a tune of $900 billion by the end of 2017 ( Peñaloza, 2018). It is a notable fact that the drivers of Apple’s success continuously direct their thinking towards making user-friendly platforms and pipelines that are critical pushing innovation, especially in the technological world.
Apples innovative strategy has for years been centered on inventing new products and embracing up to date business models. It is intriguing that as much as Apple's competitors try to keep her pace in terms of innovation, they always find themselves in an uphill task since, within a short period, the company releases a latest and updated version of their former product. Apple’s business model of innovation came to light after the production of iPods and iPhones was complemented with the design and production of iTunes software as well as App store.
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In a nutshell, Apple’s success can heavily be associated with their systemic innovation integration that makes it unique from other electronic manufacturing companies that implement open market applications. The company’s business model has ever since the inception of the company has been undertaking diverse business ventures including engaging in software, hardware as well as the entertainment sector thus offering customers a variety of her products. It is for such a reason that the company has amassed a substantial figure of annual revenue over the past few years.
The big idea behind Apple's innovation at the time of its inception in the 70s was focused on creating a business culture as opposed to the current move of focusing on business models change. The main focus of the company at that moment in time was to cultivate a culture within the workforce that does not come with corporate oversight. The idea at that point in time was to create a culture of innovation from simple ideas to robust and comprehensive systems. The creation of the culture, according to the founder of the company, was to be done by incorporating discipline and continuous innovation.
Today Apple focus on an innovative strategy that is pinned on the business models that have made the company to retain its leadership position in the murky business environment of electronic manufacture. As opposed to her initial innovative ideas that placed the focus of culture, the current innovate ideas applied by the company puts much focus on the process-driven models. To date, it can be argued that Apple’s innovation has enabled people to save time, minimize frustrations and better the user experience of her customers.
The innovation strategy at the genesis of the company is similar to what is applied today in the sense that they both focus on achieving a tremendous in-store service for her clients. The combination of Apple’s business model innovation as well as product innovation is the reason behind the company’s growth in market share and revenue by a tune of over thirty times its original value. Apple will continue to dictate the world of electronic manufacture as long as it remains to embrace its unique business models.
Reference
Peñaloza, L. (2018). Apple: from subculture to cultural dominance. The Business & Management Collection .
