Managing Innovation in Business

Managing Innovation in
Business

Executive Summary
Innovation is defined as application of ideas which are useful as well as novel in which new
services and products are introduced that will add value to organisation. The creative thoughts,
imaginations and ideas which are in the form of methods or device are referred to as innovation.
Managing innovation is the major responsibility which is being carried out by each firm for
sustaining within market for longer time frame (Nardelli and Broumels, 2018). This study
depends on managing innovation with respect to Apple Inc. It is an American firm which is
headquartered in California. This is regarded as one of the four biggest technology companies in
the world. There products comprises of iPhone smartphone, Mac computer, iPod, AirPods and
various other products are being delivered by them. Apple is an evolving firm which brings
unique capabilities in their products through which they are able to be competitive within the
market. There innovations are Apple 1, Macintosh computer, iBook, iPHone and many others.
SWOT and Pestle analysis is carried out to illustrate the performance and capabilities of the
organisation. This will provide an insight into services that are being rendered by Apple along
with challenges they have to go through while doing this. Furthermore, Porter’s five forces
model is used to analyse competition within the market for identification of future or industry in
2019. The next section of report comprises of introduction, past innovations along with present
performances and capabilities. At last it comprises of industry in 2019 and conclusion.

Table of Contents
Introduction......................................................................................................................................1
Purpose of the report & its structure...........................................................................................1
Organization and their innovation History..................................................................................1
The organizations existing innovation Performance and capabilities.........................................2
The industry in 2019...................................................................................................................4
Conclusion.......................................................................................................................................5
References........................................................................................................................................7

Introduction, Purpose & structure
Innovation refers to translation of idea into services or good which creates value for which
customers will pay for (Innovation. 2020). Managing innovation in business implies imperative
activities that have to be carried out by firms for getting best results. To understand this concept,
Apple Inc. is taken into consideration who aims at exploration of new experiences for their
clients within technological world. Their products are Macintosh, iPhone, Apple TV, iLife, Siri
and many more. Rationale behind this report is to carry out audit that will present past
innovations, present performance and capabilities and the industry in 2019. It assists within
effectual learning results as well as goals for reinvesting effectual amount of study for making
task innovative (Winterhalter, Zeschky and Gassmann, 2016). This report comprises of
innovation history of firm, innovation capabilities and performance for formulation of new
company goals.
Organization and their innovation History
Apple Inc is lead firm who renders their services worldwide. They furnish their customers
with computer software, consumer electronics and various other online services. This is
multinational firm which is headquartered in California, USA. It was founded on 1st April, 1976
by Steve Jobs, Ronald Wayne and Steve Wozniak. This is one of the most competitive as well as
leading brand within their own sector. The products which are being delivered by firm makes
them famous within the market, they are: iCloud, IS X, Apple pay, iPad, iPhone and wide range
of services, accessories and support offerings. Within their latest series they have Siri, touch ID
within qualifying devices and Apple Pay (Antikainen and Valkokari, 2016).
Some of the innovations which are brought in by Apple Inc are: in 1976 the original
computer named Apple 1 was brought in the market. The first Macintosh computer was
developed in 1984 which is released as affordable computer which provides users with graphical
user interface. The power book (first laptop) 100 was designed as well as manufactured at cost of
$2500 in 1991. IMac was brought in 1998 and 1999 iBook was to be launched which would
include standard wireless networking (40 years of Apple – in pictures, 2020). eMac was brought
in the year, 2002 then Mac mini 2005, MacBook in 2006. In 2007 iPHone was developed which
took around 2.5 years which provided portables computing. In 2008 MacBook Air and iPhone
3G were launched, iPhone 4 2010, 4s in 2011, iPhone 5 in 12, iPhone 6 was brought in 2014.
Apple watch became popular in 2015. iPhone 7 in 2016, SE version in 2016 and X was launched
1