Innovation Capability of Apple
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Added on 2021-02-19
Innovation Capability of Apple
Added on 2021-02-19
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TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1MAIN BODY...................................................................................................................................1Innovation Capabilities of Apple.................................................................................................1Factors influencing innovation capabilities of Apple..................................................................3Roadmap for innovation..............................................................................................................4Recommendations for improving innovation capabilities...........................................................6Findings........................................................................................................................................7CONCLUSION................................................................................................................................8REFERENCES................................................................................................................................9
INTRODUCTIONInnovation may be defined as turning idea into a practical solution which adds value tocustomers perspective. Innovation is a new idea or creative thoughts or new imaginations withinthe products or services which can lead to the organisational success. It simply means applicationof better solutions in order to meet new requirements or adding value to existing marketing needs(Prajogo, 2016). It is important for the organisation to set a roadmap in order to outline theinnovation success for the company's innovation strategies. In this report Apple Inc. is taken asan organisation which is a multinational technology company of America with its headquarters atCupertino, California and it designs as well as sells the consumer electronic products, onlineservices and computer software. Apple is considered as one of the largest companies inTechnological sector across the world. This report discusses the innovation roadmap of AppleInc. and its innovation capabilities and factors effecting the innovational capabilities of theorganisation.MAIN BODYInnovation Capabilities of AppleApple Inc. is world's number one innovative company as its innovation strategiesinvolves the best quality products and has got the innovative business models. Apple is capableof delivering and surprising the customers with new presents like new features, new software,the best hardware quality and beautiful packaging. Apple is also capable in creating new marketniches and new business space. Apple's has always been clear with its strategy and set of goals, ithas been committed to bring the best experience for it customers across the world through itsinnovation process. Company has always been making innovations with its products and Apple'sbusiness strategy leverages its unique innovative ability to design and develop company's ownoperating system, application software, hardware and also the services in order to offer itsproducts to new customers and provide effective solution to its customers (Souto, 2015).Company has always believed in making continuous investments in its research anddevelopments. Apple spends millions of dollar in conducting market research and customersresearch and make innovations within its business process. Also, company has also got thecapability in expanding its platforms for the discovery and also delivers third party digitalapplications and contents through its iTunes Store. Only thing which is better than Apple'sfinancial data is its products which generated the huge revenue for the company. There was the1
time when Apple was criticized for not hitting the markets with its products but with it newproduct iPad in the market in mid-January was the best reply from the Apple as it generated morethan $900 billion. Also, in 2017 company introduced the wireless AirPods in the market whichwas considered as the best innovations in the sector of earphones and headphone with wirelesstechnological embedded in it, Apple Inc. has also got the capabilities for embracing newconcepts and technologies like the developers of Apple embraced ARKit ( Apple's augmentedreality kit) which was introduced in the iPhone X with the facial recognition feature which hasincreased the level of phone security.Apple has got the best innovation history, in past Apple did not have a design capability,but it was the innovative leader Steve Jobs who worked hard with the external designers and thisstarted the rise of innovation capabilities of the company. After this Apple developed the bestinnovation team and were capable of designing its owns products, software, operating systems,apps and its own stores. This gives the idea of innovation capabilities of Apple Inc. Apple hasbeen inspiration for other technology companies across the world and many company want todevelop Apple like capabilities for designing its products (Shams and et.al., 2018). In order tomake any innovations in the products it requires lots of patience, huge investments, technologyand talent and Apple's innovative history gives the proof of all of these factors are present inApple company. Making innovations in the business in not easy task but it requires effectiveleadership and leaders who are willing to take risks and constantly prioritise and support thecapabilities of the organisation. Each and every time Apple has been able to innovate its productand there always lies a difference between old and new Apple products which has been attractingthe customers across the world. The innovative strategy of Apple has been so successful thatpeople are waiting for launch of new products of Apple and company never failed to raisecuriosity within the customers through innovations (Saebi and Foss, 2015). Apple has been ableto understand its customers and has been able to take care of its customers in order to providegood experience to them, whether it may be from purchasing a product to downloading a content.Apple has made innovations not to just introduce novel products to global markets but in additionApple has also innovated the ways of doing business and this is how it has affected its brandimage, profits and its market capitalisation. 2
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