Strategic Management Report | Apple Inc

Added on -2020-02-14

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Strategic Management1
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................3TASK 1 EVALUATING COMPANY'S APPROACH TO BUSINESS STRATEGYDEVELOPMENT AND IMPLEMENTATION..............................................................................3TASK 2 POSSIBLE STRATEGIC DIRECTION THAT THE SELECTED COMPANY COULDFOLLOW IN THE FUTURE FOR SUSTAINABLE COMPETITIVE ADVANTAGE ..............6TASK 3 IMPLEMENTATING THE CHALLENGES THAT MAY BE REQUIRED IN THECOMPANY AND MAKE RECOMMENDATIONS TO ACHIEVE THE CHANGES................9CONCLUSION..............................................................................................................................12REFERENCES..............................................................................................................................132
INTRODUCTIONIn the current era of globalization businesses are facing tough competition among eachother that creates barrier while functioning in the international market. Thus, in regard to possessbetter opportunities at the global market it is essential for businesses to undertake effectualstrategy approach such as Blue Ocean and Porter's Generic strategy. Moreover, strategicmanagement can be defined as a formulation and application of crucial goals and objectives thatare undertaken by the firm in order to plan for its future strategic direction (Hitt, Ireland andHoskisson, 2012). In this study, Apple organization has been undertaken and implements uniquebusiness strategy within last several years in order to retain customers for long term. Also,business evaluates the possible implementation of challenges faced by them and providerecommendations for the same in order to overcome the issues. TASK 1 EVALUATING COMPANY'S APPROACH TO BUSINESSSTRATEGY DEVELOPMENT AND IMPLEMENTATIONIt can be assessed that it is essential for business to plan effectual strategy developmentand implement it within firm to attain high market share and profits. However, in regard tobecome successful, businesses need to implement talent and resources to attain best advantage.There are different approaches which can be adopted by business such as Porter Generic Strategyand Blue Ocean strategy to achieve desired outcomes. Further, different strategic approacheshelps in improving profitability, increase in market share, boosting customer’s satisfaction andaccomplishing the targets under defined budget (Hubbard, 2014). Also, in order to assess thebusiness tactic it is essential for the firm to determine the internal and external businessenvironment that influences the activities. It is essential for business to analyze the environmentin which they operate so that they can determine the opportunities present and attain competitiveedge over rivals. Furthermore, it is crucial for enterprise to determine the needs of customers andits stakeholders so that management can plan the strategic approach accordingly and thusimplement it within firm to satisfy the needs of consumers. A proper stakeholder analysis needsto be carried out so that customers, employees and competitors requirements can be assessed sothat best results can be accomplished (Lowson, 2004). Apple management identifies different strategic options that helps in achieving businessstrategy development and implementation in order to achieve desirable results. Further,3
implementing the successful strategic approach helps in accomplishing outcomes that successcan be attained by business in terms of increased customer base, market share and profitability.Apple adopts an effectual approach to strategy development that helps them to succeed towardsorganizational goals and attain competitive edge from other rivals. Here, Blue Ocean and PorterGeneric Strategy needs to be implemented so that organization can develop its business andattract potential customers to utilize the products and services of business in an effective manner(Marren, 2007). Through adopting such type of strategy it assists organization to find suitableoutcomes and thus achieve competitive advantage in near future. Also, management of the firmis required to determine the needs and requirements of the customers and thus provide themparticular products and services so that satisfaction can be attained. It helps in achieving brandloyalty among consumers. Apple management decides to continuously re-invent their productsby involving unique design and features so that more and more consumers can get attractedtowards business and purchases the products that helps in enhancing the sales performance offirm (Moutinho, 2011).TASK 2 POSSIBLE STRATEGIC DIRECTION THAT THE SELECTEDCOMPANY COULD FOLLOW IN THE FUTURE FOR SUSTAINABLECOMPETITIVE ADVANTAGE Furthermore, it can be assessed that after evaluating the possible strategic direction thathas been selected by the firm i.e. Porter Generic Strategy that helps business to follow it in futureand sustainable competitive edge can be achieved over other rivals. For example, there arevaried competitors available for business such as Amazon, Blackberry and Samsung who alllaunches tablets over the past years (Varbanova, 2013). Therefore, it is essential for Apple tobring certain innovation in its features so that they can bring continuous innovation in order toovercome rivals and reach towards targets. Adopting Porter Generic strategy and within thatimplementing differentiation tactic helps Apple to differentiate its product from rivals. Forinstance, Apple introduces unique feature gadget in market that attracts consumers so that bestresults can be attained. Following are the different competitive advantage that has been earnedby Apple in order to become successful and overcome rivals (Vinzant and Vinzant, 2000). 4

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