Innovations done by Apple Company | Report

Added on -2020-02-14

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Managing InnovationInBusiness 1
TABLE OF CONTENTSEXECUTIVE SUMMARY ............................................................................................................3INTRODUCTION ..........................................................................................................................4TASK ..............................................................................................................................................4The organization and industry overview .....................................................................................4The organizations existing innovations performance and capabilities........................................6The industry in 2016....................................................................................................................8The future of the industry in 2020 and beyond............................................................................9Building the Future Innovation Capabilities for the Organization............................................10The Organization innovations Requirements 2020 and Beyond...............................................12CONCLUSION .............................................................................................................................142
EXECUTIVE SUMMARY Innovation management is regarded as way of introducing new ideas into business so asto attain leading position in market. It is also considered as important factor in economicprogress of entity. Innovation management enable company to initiate new offering, process andideas into industry. The objective of innovation management within a enterprise is to develop aappropriate environment to stimulate innovation. With the help of innovation management,company can outperform than its competitors. It further enable use of techniques like,brainstorming, TRIZ, portfolio management, product planning or life cycle management etc.therefore, innovation management facilitate change in the organization processes, products etc.By managing the innovation, company can improve timing for introduction in market.Thereafter, organization can use innovation as way to access new buyers and market and therebyenhance market share. There are many benefits of innovation management such as, it help inenhancing the competitive benefits that last for longer duration. Further, innovation managementis important for increasing customer satisfaction by providing improved products with betterquality. In this report, learning has been show regarding innovations done by Apple in consumerelectronic market. Therefore, it has been identified that, major innovation of brand is in terms ofits product iPhone and its range. The report showcase, that major innovation of Apple are, 3Dtouch, Retina 3D display, A9 chip etc. Further, description of innovation done by Apple in pastis provided. Therefore, it has been identified that, Apple II, Macintosh personal computer, iPodare some revolutionary products introduced by brand in past times. With the increasingdependency of individual on electronic product it can be stated that there are ample number ofopportunities available for organizations in future. Apple can use its strong and competentresearch and development team to continue designing innovative products in future. In thisreport, description is provided regarding innovations that can be done by brand in 2016.Therefore, iPhone 7 and 7 plus are new products that can be introduced by brand. From theanalysis of consumer electronic industry it has been identified that it is expected to witnessgrowth of 15.4% by 2020.3
INTRODUCTION Innovation refers to process of initiating new ideas, concept, device or methods inbusiness. It is viable tool that is used by organizations to stay ahead of its rivals. In presentfrequent changing business environment, it has become viable for organizations to manageinnovations in best manner so as to stay competitive (Drucker, 2014.). Innovation has become anecessity for business which further determines its long term sustainability. Therefore, it isbecoming important for company to make best use of its innovation resources to meet acontinuously modifying market and business environment. Innovation management is important term that relates to administration of innovationtechniques and processes. It also determines the decisions, functions and practices that help inchanging creative thoughts to reality for the objective of enhancing business worth (Davenport,2013.). Innovation management can also be refereed as administrating the investment indeveloping new possibilities for providing customer worth that is essential to retain and growththe business. In this report, various aspects of managing innovation will be studied in the context ofApple Inc. It is US based multinational technology corporation that is rendering qualitativeservice and products since 1976. At present, company is providing services to more than 17nations with around 475 brand stores (About Apple. 2016). In this report, discussion about Appleand its innovation history will be provided. Also, description about present innovationperformance and capabilities will be provided. Further, explanation regarding the innovationrequirement of organization in year 2020 and beyond will be provided. TASK The organization and industry overview Apple Incorporation is among leading technology company at present. It is recognized aslargest IT (information technology) company of globe measured by profits. In addition to this, itsalso leading technology entity as per the total assets. Thereafter, Apple is known as secondlargest cell phone manufacturing organization of the globe. The vision of company is to becomemost loved and appreciated entity in the globe and the most adorable brand that people prefer ansuse. Further, company opinions that they are on the planet to render prime quality products(Managing innovation. 2016). For this aspect, organization assures to have strong consideration4

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