Managing Innovation In Business - Apple

Managing Innovation
In Business

Executive Summary
This report is summarised as the continual part of project one that was presented in last
semester, it was mainly based on innovation and its importance in the growth of the Apple. It has
also included various innovation history and future capabilities with the help of industrial
evaluation. Whereas, the second part of this project is about the role of innovation in the growth
of company and its contribution in success. This talks about Apple, a multinational company
provides technology based products and services to its customers. The company is availing
highly innovative products to its customers maintain its sustainability at marketplace.
This report includes a deep analysis over innovational practices that are expected to be
experienced in near future by 2020 and beyond. It has been found from analysis that new
innovations are continuously anticipating by rivals which are attracting customer and influencing
them to pay any cost for adding innovation as a part of their life. This has created opportunity for
Apple to bring more innovation which easily get adopted in market place. There are many
innovations which are expected to be launched by Apple like Smart connector, Foldable iPhone,
Hologram TV, Apple AR smart glass and many more. It has been recommended to Apple to
introduce Foldable iPhone as this product will be highly demanded by customers and easily get
accepted at marketplace. So, it has been found from this project that Apple must use road map
for implementing the innovational plan effectively.

Table of Contents
Executive Summary.........................................................................................................................2
INTRODUCTION...........................................................................................................................1
Future of Industry 2020 and beyond......................................................................................1
Organisations innovation requirements 2020 and Beyond.....................................................2
Building the future innovation capabilities for the organisation............................................6
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Innovation is the process of introducing a new product, service, practice or method or
adding more features in existing procedures which can meet the demands and preferences of
customers (Rothaermel, 2015).
Apple Inc. is multinational company which is mainly focusing on delivering high
technology products to customer. The company is headquartered in Cupertino, California in 1976
and founded by Steve Jobs, Steve Wozniak and Ronald Wayne. Apple is provide both hardware
and software based products to its customers across the world. In past few years, it is being
found that Apple has kept its focus on offering innovative products and services to its customers
to reach at new level. The main purpose of this report is about identification of future
innovation opportunities that are available for Apple within the electronic industry to gain
competitive advantages in market.
This report will cover suitable organisational innovation requirements till 2020 and
beyond. Also, includes future of Industry and building the future innovation capabilities of the
organisation to grab the market opportunities.
Future of Industry 2020 and beyond
Consumer electronic is very vast industry which is mainly focusing on delivering
advanced technological products and services to its customers. The sector includes computers,
mobile phone, digital cameras, wearable electronic devices, smart televisions, TVs and many
other products which are considered as an important part of consumers lifestyles (Bogue, 2014).
These products are highly surrounded with advance technology and different types of innovation
which contributes in growth of industry at global level.
This industry is very dense in nature and deals with huge competition every single day as
organisations belongs to this industry tries to produce new product with innovative features . It
has been analysed that the main key players within consumer electronic industry that are served
their best from many years includes Samsung electronics, Sony corporation, HP Inc, Panasonic,
LG etc. The main aim while they are working is about strongly focus on on research and
development activities for introducing new product with innovative features to grab attention of
customers. It can be said that involvement of technology within this industry is considered as
influential factor that directly contributes in the growth of consumer electronic segment.
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