Relying on others for financial stability is one of the symbols of the interdependence concept in the ever-changing world economy. Major companies such as Apple has resorted to integrating with other economies by way of production, trading, and consumption. As Apple with other countries such as China in the global economy, China's national economy also intertwines through the world trade, and it becomes dependent on the economic ability of Apple thereby creating a complex relationship between Apple's business and China as a society (Slama, 2015) . This is because the economic growth of a country like China will be dependent on China thereby having a direct impact on the lives of the people of China who work in the production plants of Apple products. For an elaborate analysis, one will be necessitated to understand the Apple’s products and services, and factors which can inhibit its success with clear illustrations. It is also prudent to primary stakeholders, their roles and their impact to the company’s financial performance as well as investigating a corporate responsibility that is associated with apple and has resulted to controversies in the society. These are aspects focused on understanding the ever-changing world economy, which will also pave the way for drastic measures to be taken to put in place mechanisms that may tackle any complexity that may arise in the process of globalization.
Since its inception, Apple Inc. has grown to become an indisputable giant in the technology industry. Apple is an American Multinational company that develops and manufactures electronic products, personal computers and computer and application software. The company is popular for its products such as iPhone, iPod; Apple Television recently launched iWatch. Apple offers services especially for their products' efficiency which comprise of software applications such as the OSX and iOS operating systems. Apple has deals with digital content through production and selling in its iTunes Store, iBook, App Store and Mac App store platform (Slama, 2015) . Apple has a business model that is centered on developing technology devices, application and operating software besides offering communication devices and solutions. Apple has a loyal global market with retail chains spread across the world managing the operations.
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Organizations have external factors within their operations which determine the approach and the level of success in their operations. Apple’s external environment has not been spared either, as it has been affected by demographic, technological and social factors (Cooper, 2017) . When the first Apple product was rolled out to the market, it changed not only the field of innovation but also the technology industry in general. This is also the norm with other technology companies who in the process of adapting to their company they end up becoming the leaders. This has called for the need for innovation at an industrial level, and companies are leaders in technological developments. When Apple released the iPod, it had so much significance that revolutionized the electronics market. It was achieved as a result of standing out In terms of quality without putting cost into interest with the strategy of having a diversified product which allowed Apple to expand its market across the globe and appealing to consumers with an appetite for innovation and technology. The social factors that affected the success of the iPod are from the need of moving towards smart and portable devices which besides being user-friendly, are also trendy in terms of design. When the financial crisis was witnessed in 2008, that made the market of Apple products deteriorate thereby the external factors had an impact in the determining the success of Apple, as consumer power dwindled hence Apple’s success being affected demographically (Fraj, 2015) . The economic crisis led to the innovation of cheaper, and technologically-advanced phones which as a result also led to the innovation of the iPad. In today’s economy, the products that can be embraced by the consumer market, are those that are technologically advanced and go for low prices, hence will determine the success of the industry.
Stakeholders have a massive in any company which they are associated with, and Apple also falls into that category. Stakeholders can influence the organization’s financial performance through the suppliers, customers, management, the stakeholders and the employees. Suppliers can affect the financial performance by adding ideas and improving the processes of marketing. The customers can influence the financial performance by their financial force through prices and demand. The management can influence the financial performance through their targets and the budget at hand. Shareholders have an impact on the financial performance through their contribution of ideas especially during an annual general meeting where they do an audit of the financial details of the organization and set financial targets for the organization. The employees’ role in an organization is also paramount in its financial performance especially in implementing organizational goals and putting all their energy into making the organization realize high results in its performance.
One major controversial corporate social responsibility associated with Apple is the Chinese production issue. The workforce that assembles Apple product such as iPhones and other electronics work in not so conducive conditions (Clarke, 2017) . This includes a grueling 24 hours working ethics where Apples Company operate nonstop throughout. The workforce’s restrooms are also overcrowded, besides not well protected with safety precautions and protective gears. Therefore, exposing the workforce to toxic chemicals and explosions which might be fatal, for instance, the one that happened in 2012 which left four people dead in Foxconn, which is a major supplier of Apple products (Carroll, 2016) . The Foxconn controversy is a critical issue to Apple Inc. as it can cause severe consequences to its performance.
Conclusion
It is undeniable that the relationship between business and the society has become integrated and therefore resulted in interdependence where one cannot operate well without the other. This has been depicted in the operations of Apple Inc. which emerged as the giant in innovation and technology thereby having a better financial performance compared to its competitors. It is also clear that environmental factors and stakeholder groups are crucial to the performance of the company. Apple also faces controversies that revolve around its corporate social responsibility with the major one being the Foxconn, which has failed to look into the welfare of its workers in assembling plants in China thereby posing a challenge to Apple’s success. It is prudent for companies to develop a strong relationship with the consumer as it is the market that will determine the course the company shall take.
References
Carroll, R. J., Primo, D. M., & Richter, B. K. (2016). Using item response theory to improve measurement in strategic management research: An application to corporate social responsibility. Strategic Management Journal , 37 (1), 66-85.
Clarke, T., & Boersma, M. (2017). The governance of global value chains: Unresolved human rights, environmental and ethical dilemmas in the apple supply chain. Journal of Business Ethics , 143 (1), 111-131.
Cooper, S. (2017). Corporate social performance: A stakeholder approach . Taylor & Francis.
Fraj, E., Matute, J., & Melero, I. (2015). Environmental strategies and organizational competitiveness in the hotel industry: The role of learning and innovation as determinants of environmental success. Tourism Management , 46 , 30-42.
Slama, D., Puhlmann, F., Morrish, J., & Bhatnagar, R. M. (2015). Enterprise IoT: Strategies and Best Practices for Connected Products and Services . " O'Reilly Media, Inc.".
