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Managing Innovation in The Business

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Added on  2020-10-22

Managing Innovation in The Business

   Added on 2020-10-22

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MANAGINGINNOVATION IN THEBUSINESS
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Executive Summary Innovation plays a crucial role in the growth and development of the business. Innovation is theprocess of translating an idea or invention into a product or services that creates value tocustomers. Apple Inc. is being chosen for assessment. It is an American multinationalterotechnology company which was founded in 1976 by Steve Jobs, Steve Wozniak and RonaldWayne. These are the innovation that bring a drastic change in the life of people as well as in thebusiness life. There are about 1,23,000 employees are working in the company. The productslaunched by Apple Inc. are very innovative and it is unbeatable. The innovation is non-stop, theyalways come up with new ideas and thoughts. It is fact that consumer electronic industry willgrow and develop with the high rates in coming time. There are many industries which are takinginitiatives in order to engage and satisfy the customers in entirely new styles.
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INTRODUCTIONInnovation plays a crucial role in the growth and development of the business. Innovationis the process of translating an idea or invention into a product or services that creates value tocustomers (Biemans, 2018). In this report, Apple Inc. is being chosen for assessment. It is anAmerican multinational terotechnology company which was founded in 1976 by Steve Jobs,Steve Wozniak and Ronald Wayne. This present report will include the innovation history ofApple Inc. Apple existing innovation performance and capabilities will also present in this study.Moreover, the performance and the name of industry in 2019 will be discussed in thisassignment. THE ORGANISATION & OVERVIEW OF INDUSTRYThe organisation and its history of InnovationThe organisation is Apple Inc. It is an American multinational technology company. Itsheadquarters are located in Cupertino, California and US. Delivering value and performancethrough technology is the main belief of Apple Inc. Apple Inc. was founded in 1976 by SteveJobs, Steve Wozniak and Ronald Wayne (Tidd and Bessant, 2014). There are 500 retail stores allover the world. The innovation of Apple Inc. are Macintosh, iPod, iPhone, iPad, apple watch,Apple TV, HomePod, macOS, iOS, watchOS, tvOS, iLofe, iWork etc. Apple Inc. also offerservices which are Apple Pay, Apple Store, Mac App Store, iBooks Store, iCloud and AppleMusic. Steve Jbs wanst that there should be a computer in each homes and offices. These are theinnovation that bring a drastic change in the life of people as well as in the business life. Thereare about 1,23,000 employees are working in the company. Its revenue is about $265.595 billionin 2018. Company also sells there products through online and retail stores, direct sales and thirdpart network carriers, wholesalers, resellers and retailers. Apple Inc. was the first successfulcompany in manufacturing personal computers and the popularizer of the graphical userinterface. The products of Apple Inc. on the software and semiconductors that run internally. Theorganisation is famous for its integration of hardware, software and services. It is reported that40% of revenue of the company is generated from the people living in America. Apple is knownfor its brilliant and incredible quality as well as elegant designs. From the start and till now,Apple Inc. is focusing on continuous innovation. Apple has enlarged upon its original statementsof vision and mission in the recent years (Möller and Halinen, 2017). Consumer electronic is theindustry where Apple is working. This is the industry where all the electronic equipments, tools1
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