Apple Inc.’s ability to use its strength to overcome its weaknesses by utilizing its opportunities is the primary reason for its success in a decade. Since the bankrupt threat in the year 1997, Apple Inc. has made tremendous progress and is currently the most valuable organization with a net of worth p$775 billion ( Hinterhuber & Liozu, 2017). The company owns retail stores in 22 countries in the global arena and further owns different online stores in over 100 countries in the world. The Multibillion companies face stiff competition from Companies such as Samsung, Nokia, and Amazon. However much the technology industry is one of the most competitive, Apple Inc.’s unique strategy and power in innovation has been outstanding and has brought a lot of success to the company.
Question one
Apple Inc. is a successful corporate organization. Since its rejuvenation under the leadership of Steve Jobs in the year 2001, the company has achieved a considerable milestone. Its first success was the introduction of the iPod in the year 2001. It was the first time the company took the tech industry by a storm. iPod was a soft touch innovation, a combination of exceptional ability and integration of technology that left many companies such as Microsoft counting loses. The iPod is a digital music player. Its creation destabilizes other non-digital music players that were in the market from companies such as Sony. Its introduction saw a massive migration from the Sony Walkman. Apple then introduced retail stores and later came up with the online store iTunes. The invention of online stores gave other companies such as Amazon.com a headache. However, Apple was not done yet. In the year 2007, the iPhone was on the market. iPhone was a life-changing creation. Since its introduction, the world of the Smartphone was never the same. The combination of iPod, iTunes, and iPhone was precisely the invention people were waiting for to enable a legal downloading of music from the internet. As a result, it disrupted different products from its competitors such as Sony’s DVDs. The iPad and Apple watch are the current valuable products that have already achieved a lot in the market.
Delegate your assignment to our experts and they will do the rest.
Question Two
Apple Inc.’s success in the tech industry is an integration of both the firm and the industry effects. The company’s success is linked to its ability to use its internal and external weaknesses and combine them with opportunities while noting the threats in the industry to strengthen its capabilities. First, the company was in a position to develop and introduce into the market series of innovative products due to its unchanging market share in the desktop computer industry. Other than this, the tech industry is one of the most competitive sectors worldwide. The industry houses top international organization, and as a result, a breakthrough is nearly impossible. For Apple Company to rise after facing threats of Bankruptcy in the year 1997, it had to come up with a specific niche in the industry and capitalize on it ( Hinterhuber & Liozu, 2017). The niche gave it a chance for specificity and competitive advantage. Lastly, the company effect pushed the organization since it improved on its management and innovators every year.
Question 3
Apple Inc. has different internal weaknesses and external threat that it has to deal with to continue dominating the tech industry. The first weakness is limited distribution channels. It has a policy of exclusivity that enhances selectivity with regards to distributors. Further, it has a high prices strategy than other companies. The company has premier products whose prices are slightly above other organization in the market. External threats include the rising telecommunication regulating and privacy issues. The company needs to integrate more distribution channels. Further, its need to sell its product at a standard price to attract more sales. Lastly, all the product designs must be within the legal and moral requirements.
Question 4
Diagnosis of the competitive challenge/ Strategy analysis: During its dooms time, large firms that dominated the desktop industry, for instance, Microsoft were the Apple's significant competitive challenge. The situation has changed, and currently, external factors possess the major competitive problem for Apple Company. The degree of firms’ aggressiveness through vigorous products promotion and innovation is an example of a competitive challenge the company is currently facing ( Hinterhuber & Liozu, 2017). Further, there is the switching cost. Customers can switch from Apple product such iPhone and use Samsung Galaxy series.
Driving a guiding policy/strategic formulation: The Company need a newer business model as its driving policy. The company has over-concentrated on the different markets. It is time for Apple to have its market. The Smartphone is already out of fashion in the market, and people are eager to get more. This is an opportunity the company needs to grab. Other than its technological products that have granted the company success, it needs to become unique and develop unique and less complicated products ( Sun, Traverse &CAI, 2017).
Implementation of coherent action/implementation strategy: Innovation is the remarkable implementation strategy the company needs to put in place. Apple has many opportunities in the industry and can utilize them through the continuous innovation of unique goods. This is a strategy that can enable it to brush off its competitors ( Hinterhuber & Liozu, 2017).
In summary, Apple Inc. is successful due to its strategy that enhances uniqueness in innovation. The company's success is due to industrial and firm effects that have shaped every decision it has taken since its rejuvenation in the year 2001. Since the company has weaknesses and is vulnerable to external threats, it needs to come up with new driving policy and implement innovation to overcome the new competitive challenges in the tech market.
References
Hinterhuber, A., & Liozu, S. M. (2017). Is innovation in pricing your next source of competitive advantage? 1. in Innovation in Pricing (pp. 11-27). Routledge.
Sun, J., Traverse, F., &CAI, S. (2017). PRODUCT DIFFERENTIATION STRATEGY AND COMPETITIVE SUCCESS. American Journal of Multidisciplinary Research , 5 (2).
