Managing Innovation in Business : Apple Inc

Added on - 19 Feb 2021

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Managing InnovationInBusiness1
Executive SummaryThis project elaborates significance for bringing innovation in organisation. It is one of thecrucial activities which are involved in development of competitive edge within which willfurther aid in attainment of sustainability in market. This project is associated with Apple Inc.that belongs to mobile and technological sector. Due to enhancement in competition as well asrapid alterations that takes place in industry, it has became important for an organisation to bringcontinuous innovation within their operations and functionalities.This project is segregated in three parts. First part will illustrate future of mobile industry,second section will illustrate significance of innovation practices at Apple Inc. and latesttechnologies must be opted by organisation with respect to future practices. The last partexplicates things which must be taken in consideration with respect to development of futurecapabilities for making organisation compatible with alterations or new innovation. Apple Inc. isone of the strongest firms which emphasise on bringing continuous innovation within theiroperations as well as products. Therefore, it is recommended to Apple Inc. that they must bringstandard innovation practices to attain market sustainability as well as maintain a competitiveedge.2
Table of ContentsExecutive Summary.........................................................................................................................2INTRODUCTION...........................................................................................................................1The Future of Industry 2020 and Beyond...................................................................................1The Innovation Requirements 2020 and Beyond........................................................................2Building Future Innovation Capabilities.....................................................................................3CONCLUSION................................................................................................................................5REFERENCES................................................................................................................................63
INTRODUCTIONInnovation is defined as a set of activities which works together for conversion of idea intoreality by which high sustainability within market can be attained. This process comprises ofcollection of information, manpower and resources for developing innovative products so thatvalue can be added to customers(Brown and Osborne, 2012). This project explicate about AppleIncorporation that is an American multinational company. It deals with products such ascomputer software & hardware, consumer electronics and many others. Apple Inc. was foundedby Steve Wozniak and Steve Job, they have brought in their commercial computer Apple Iwithin 1976.This project comprises of detailed portrayal related with future of mobile industry by year2020 and beyond that. Furthermore, explanation related with needs of innovation within AppleIncorporation through which they can deal with future alterations as well as competition. Thissection also illustrates different technologies which Apple Inc. can foresee with respect to future.Along with this capabilities which are needed for development of organisation forimplementation of approaches within future are explicated.The Future of Industry 2020 and BeyondMobile industry is one of the largest growing sectors at present scenario. Theorganisation aims at moving forward technologically. This sector includes organisations whichdeal with manufacturing of mobiles, design, software and other services by usage of technology.It comprises of broad range of services or products for businesses and customers. With respect tobusiness context, products are developed by making use of recent technologies throughformulation of strategic business decisions. Various innovations have been carried out which hascreated affirmative impact on overall mobile manufacturing organisations(Carayannis, Sindakisand Walter, 2015). Along with this, a strong competition has been created among different firms.This sector is attracting lots of investments in terms of economy as people makes theircontribution in innovative ideas by which they can bring product within market. This sector isworking forward to improvise living standards by furnishing innovative gadgets.Mobile industry is gaining attention from individuals and makes them dependent onservices which are furnished. This denotes that future of mobile industry is on verge and it hasvarious options for growth(Damanpour and Aravind, 2012). As technology is changing rapidly,1
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