(Doc) Importance of Innovation in Terms of Operations of Apple Inc Download

Running head: INNOVATION AT APPLE
Innovation at Apple
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INNOVATION AT APPLE1
Executive Summary
Innovation is an activity that drives the performance of companies. Innovation separates a
company from the other and helps the company carrying out innovation to be subject to
sustainable nature of outcomes with the help of the company can gain a competitive advantage
regardless of the industry that they are operating in. In the late 2000s, Apple was regarded as one
the most esteemed companies in the United States. Currently the company is considered one of
the top companies in the world as the company chairs on top of the revenue generation score on a
global level. Apple was the first company to develop an actual smartphone by re-inventing a
similar form of technology that is touchscreen phones. Over the years the company developed
and launched products such as iPhone, iPad, Mac, iTunes and various other forms of updates in
the form of operating systems for both PCs and iPhones. The iPod coupled with iTunes became a
hit in the United States followed by favorable performance across the globe. Apple disrupted the
electronic industry again with the launch of the iPod. Till date this is considered as one of the top
innovative activities carried out by any company. The iPod is considered a revolutionary product
in the electronical appliances industry. It can be said that that company were tap into the pulse of
the market with the help of which the company was able to develop ideas which resulted in
innovation that changes the nature of operations in the industry. The iPod and iTunes together
implied that people could listen to music with high degree of portability. Apple is an
organization that has established a standard in terms of developing disruptive know-how with the
help of which they have been able to disturb the industry on numerous cases. It has been found
that Apple is likely to capitalize on the opportunities that have been identified above, capitalize
on the strengths, overcome the weaknesses and mitigate the threats. The industry that the
company operates in is deemed to be highly competitive, however, the position that the company
has secured ensures that they are the best in the industry.

INNOVATION AT APPLE2
Table of Contents
Introduction......................................................................................................................................3
The Organisation & innovation Overview......................................................................................3
The Organizations existing Innovation Performance and Capabilities...........................................5
The Industry.....................................................................................................................................7
SWOT Analysis.......................................................................................................................7
PESTLE Analysis....................................................................................................................9
Porter’s Five Forces.................................................................................................................9
Conclusion.....................................................................................................................................10
REFERENCES..............................................................................................................................11

INNOVATION AT APPLE3
Introduction
Innovation refers to development of knowledge and application of the same in betterment
of products and services (Visnjic, Wiengarten and Neely 2016). The aim of the paper is to
critically analyze the importance of innovation in terms of operations of Apple Inc. who have
been able to develop products with a certain degree of innovation in the markets that the
company has been operating in. The strategies that have been adopted by the company and the
products that they have been able to develop in order to sustain the needs of the company has
will be evaluated and analyzed in the following sections.
The Organisation & innovation Overview
Apple Inc., previously known as Apple Computer Inc. is an American MNC that was
founded in the 1977 (Apple.com 2020). The company offers electronics in the form of
smartphones, tablets, personal computers and other related electronic devices. The nature of the
company is such that they have been able to comply with a great degree of innovation in the
markets that the company caters to. The company also develops software in the form of
operating systems for the personal computers that they provide and the smartphones that they
provide. Back in 2008, Apple was regarded as one the most admired companies in the United
States (Loviscek, Schild and Steffens 2019). Currently the company is considered one of the top
technology based companies in the world as the company presides on top of the revenue
generation tally on a global level. The aspect of innovation is bolstered in the company with the
help of the mission and vision statement that the company abides by. The company abides by the
mission statement of bringing in the best services to the diverse groups of stakeholders who are
associated to the company. The company realizes the importance of innovation in uplifting lives