Innovation Management - Apple Inc

Added on - 21 Feb 2021

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ManagingInnovation InBusiness
EXECUTIVE SUMMARYIt is necessary for a company to adopt innovation because by it they able to conduct itswork in effective manner. Now a day audiences or service users are also more attracted towardsthe unique as well as innovative products so it become necessary for a company to conductevaluation of marketplace in order to understand need and requirement of customers whichdirectly help in developing in technology. That will help company in enhancing their profitabilityratio and market shares. Apple Inc. is conducting its business operation and function at hardwareand software industry. The respective company is established by Steve Jobs in the year 1976.they offer variety of products and services such as iPod, iPhone, Home Pod, iOS, iLife, AppStore and it is offered by world wide level. Products and services which are offer by companyare highly technological based which attract customers as well as they also adopt new andinnovative technology. This will make respective company successful along with this they alsofree their research and development department that they can conduct or design in their way.They also didn't need to worry about financial budget or resources.This will include various topics which are related to evaluation of innovation adopted byrespective company in order to attract customers and succeed their business. In order to knowand understand effectiveness of innovation for respective company they will adopt 4 P's ofinnovation. That will include products, process, position and paradigm. Through this they able toidentify innovation and it effectiveness which help in growing business of Apple Inc. Along withthis they also conduct EST analysis which are factor of PESTEL Analysis as well as VRIOmodel so that they can evaluate capabilities and performance in appropriate way. This will helpthem in developing decision in effective manner. Apple Inc. adopt porter's five force model sothat they can know about their competitive advancement factors. By adopting this they able toconduct analysis of hardware and software industry which help in evaluating respective companyand their competitors evaluation. By adopting as well as conducting all these models or theoriesApple company able to understand importance of innovation and how it will impact onoperations as well as function of a company in positive manner.
Table of ContentsINTRODUCTION..........................................................................................................................1MAIN BODY..................................................................................................................................1The organisation and its innovation.......................................................................................1The organisations existing innovation Performance and capabilities....................................3The industry in 2019...............................................................................................................6CONCLUSION...............................................................................................................................7REFRENCES...................................................................................................................................8.........................................................................................................................................................9
INTRODUCTIONInnovation is essential for every organization because by it company able to conduct itsbusiness functions in effective manner. Innovation refers to a procedure of creating an idea intoproducts and services which help in attracting customers and convince them to pay (Dončić,Perić and Prodanović, 2015). Organization taken for this assignment is Apple which wasestablished by Steve Jobs in year 1976. Its headquarter is in Cupertino, California, United State.They offer variety of products such as iPod, iPhone, Home Pod, iOS, iLife, App Store and manymore at the worldwide level. Topics covered in this report are innovation history of company,company's existing innovation, performance and capabilities. It will also include currentsituation of respective company in particular industry.MAIN BODYThe organisation and its innovationApple Inc. is an American company which operate its business at worldwide level. Itsheadquarter is in Cupertino, California, United State. It is founded by Steve Jobs, Steve Wozniakand Ronald Wayne in year 1976. The respective company offer variety of products and servicessuch as Macintosh , iPhone, iPod, Home Pod, iWork, Final Cut Pro, App Store, Apple News +,tvOS, Logic Pro and many more (Du and ZHANG, 2012). Respective company adopt innovationon regular basis which help them in attracting customers and retain at market for a long period oftime. Innovation of Apple is properly understood by adopting four P's of Innovation, which ismentioned below:-Product:There are numbers of innovative products and services which are offer by Apple Inc.which attract customers at huge ration and encourage them to purchase their products. Some ofthe major innovative products offer by respective company which make them successfully atmarketplace are-iPhone:Apple is the first company which introduce smart phone having multiple touchi.e. Apple iPhone. It generally seems as mixture of both iPod and smart phone. Therespective company introduce many versions of this phone and always they come upwith new innovation (Apple Marketing Mix (4Ps) Strategy, 2019). Latest iPhone whichrespective company had launched is iPhone X and iPhone Xs.1
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