Strategic Management and Business Development
Added on 2020-07-23
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Strategic Management
TABLE OF CONTENTSINTRODUCTION ..........................................................................................................................3TASK 1 ...........................................................................................................................................3Strategic direction that company has followed in the past 5 years development of thecompany. ....................................................................................................................................3TASK 2 ...........................................................................................................................................5Detailed analysis of the company. .............................................................................................5TASK 3 ...........................................................................................................................................8Relevant internal analysis tool to draw appropriate conclusions. ..............................................8TASK 4 .........................................................................................................................................11Possible strategies that company could follow to defend its core business..............................11TASK 5 .........................................................................................................................................14Recommendations that the company has to address.................................................................14CONCLUSION.............................................................................................................................14REFERENCES..............................................................................................................................15
INTRODUCTION Strategic management is the foundation of the organization that allows the top levelmanagers to initiate plans and policies on the behalf of owners of the organization in order toensure its growth and development. It also analyzes the external and internal factors that affectthe working of the organization so that business can function its operations in the most effectivemanner. It helps in providing overall direction to the organization to assess the strategies andpolicies followed by them. Strategic management fundamentals are beneficial during the time ofuncertainty and complex situations that occurred in business. Apple Inc is one of the top leadingorganization of the entire universe, it deals with various products that have very huge popularityamong each age group of the people. The main concentration of this report is upon the strategicmanagement of Apple Inc and the improvement that company can bring in its working. TASK 1 Strategic direction that company has followed in the past 5 year’s development of the company Strategic management is the policy that is being followed by the business organization inorder to increase their productivity and profitability. Management techniques of strategicdirection also affect the internal and external environment of firm. As per the views of MichaelPorter, strategic management of organization depends upon creating unique brand value, makingappropriate choices and conducting business as per customers’ requirements. Apple Inc. is one of the top leading organization of the world. It is a multinationalcompany whose headquarter is in California. The industry deals in computer hardware andsoftware, electronics, digital equipment and mobile phones. As per the reports of 2017, the totalnumber of retail stores owned by Apple Inc. are 499. The company served in around each andevery part of the world. The brand awareness and the recognition of Apple Inc. is very strongamong each and every age group of people. Whenever innovation and reinvention take place in organization, the most importantaspect is strategic business plan. It is the management tool that assists working of organization.The strategic changes that occurred in the organization are due to the variations in theenvironment factors. Apple Inc. was developed by Steve Jobs in 1976. Company was later incorporated in theyear 1977. As per the reports of 2011, 2012, 2015 and 2017, company was the major seller of
computer electronics products. The sale of the software produced by the company is also veryhigh in 2016. After the demise of Steve JOBS IN 2011, the company was taken over by TimCook who brought so much enhancement in thefirm in last past five years. As per thedevelopment report of the 2014, the total number of permanent employees in the company were70,000 and temporary employees were 3,000. As on May 2014, the market capital of Apple Inc.was 547.20 billion approximately. Market capitalization is the quantification of business utility which is based upon shareprice and total number of out-standings. In last five years, company has seen major growth in itssales, because of the innovation in iPhone. In the last five years, company has come up withmany variations in iPhone, (4s, 5s, 6, 6s, 7, 7s and iPhone 8). iPhone is one of the mostprominent and popular products of Apple Inc. in entire world. Annual Revenue in million(Apple Inc)Year$229,235.002017$215.638.002016$233.716.002015$182,796.002014$170,911.002013Illustration 1: sales growth in Apple Inc.
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