Business Innovation Strategies for Apple Inc. - Report

This report provides a comprehensive analysis of business innovation strategies applicable to Apple Inc. It begins with an executive summary and an introduction highlighting the importance of innovation in the technology sector. The report evaluates the future of the technology industry, emphasizing key trends like the narrowing of the digital divide, app-enabled agility, shifts in investment, robotics and automation, and the impact of technology during the COVID-19 pandemic. It then examines Apple's specific innovation requirements, considering the need for new product offerings like AirTags, new iMac models, and potential innovations in areas like AR glasses and foldable phones. The report further explores building innovation capabilities for Apple, including determining strategic objectives, understanding market dynamics, and defining value propositions. It stresses the importance of business model innovation, leveraging existing models, and understanding the competitive landscape to foster continuous improvement and maintain a competitive edge in the global market. The report concludes by emphasizing the importance of market knowledge and strategic planning for Apple's continued success.

BUSINESS INNOVATION
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Table of Contents
.........................................................................................................................................................2
Executive summary..........................................................................................................................3
INTRODUCTION...........................................................................................................................3
Future of the industry 2021 and beyond......................................................................................4
Apple innovation requirements in 2021 and beyond...................................................................5
Building the innovation capabilities for Apple inc. ....................................................................6
CONCLUSION..............................................................................................................................10
REFERENCES .............................................................................................................................11
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Executive summary
In this report the business innovation practise are undertaken which are more useful for
the company and help to grow more. The business innovation is become more vital for the
businesses and the customers because they are also wanted new technologies and tools that help
them more effectively. The future of the technological industry is being defined that is helpful
for the Apple as well as other brands who are focussed on technologies. The requirement of
Apple in the current market and the future are presented to know which are the technologies that
Apple need to adapt to sustain in market. For improving the capabilities of innovation is become
more important for apple to know the component that are included in this process. The
innovation strategy is presented which assist in helping to enhance the value of Apple.
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INTRODUCTION
An innovation business is that business in which there is regular innovation take place in
their services, process, products and services to influence the customers in positive manner
(Lopez, Bastein and Tukker, 2019). In this the business usually improve their existing products
and services as well as method. The main aim of this type of business is to improve the value of
the business and enhance its profitability. Apple Inc. is a multinational brand which is leading
brand in the electronic and other online services(Geissdoerfer, Savaget and Evans, 2017). The
company is one of the most valuable company in the world and stand at four position in cell
phone production. This report will evaluate the future of the Apple Inc. in the respective industry
in the 2021 year. Future it will explain the innovation that are required to the company in its
future and coming year to sustain in the market. Moreover, the resource that are required to
develop the innovation and capabilities for Apple Inc. to grow more in the international market.
The innovation must be effective because Apple have to grow more and this analysis will help
company to know more about the innovation practises. By using this innovates practises Apple
inc. can change their product and services according to the preference and technology
development in the market.
Future of the industry 2021 and beyond
The future of technological industry has been growing very faster than the prediction as
the technology is regularly being innovated and changing to make more effective to its users
(Elmo And et. al., 2020). As in the pandemic period of COVID-19 the technology is the only
way to remain connected and perform the task. With the technology developments help every
user to remain more flexible and more secure and identifying the opportunities in the workplace.
The future trends for the technology industry are:
Closer of digital divide: To remain connected with each other has become very important in this
world and this is one of the economic and social task for every one in the world. All the people
in the current market are regularly learned with the help of the latest technology. The upcoming
technologies are including 5G networks and Wifi6 which are more efficient in the market.
App enable agility and resilience: Before the pandemic period the business have to adopt the
change quickly to change the process as per the changes in the environment. There are many
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organizations which are mostly made use of technologies to enhance the capabilities to change
according the change in external environment (Asensio-López, Cabeza-García and González-
Álvarez, 2019).
Shifts in the investments: The private companies are earlier more focussed on other department
to operate in the market but in the past few years they changed their investments (Bucchiarone
and et. al., 2021). The companies are investing to adopt the latest technologies in the market, and
they are try to find more innovation in the technologies. The research and development
department is also being more enhanced in the companies so that they have more efficient
candidates who can perform their best to find the upcoming technology developments.
Robotics and automation: The companies are also moving towards robotics as a replacement of
its workers as they are less costly and faster. There are number of benefits with the use of
robotics and automation in the market. They are also had capabilities to perform those task which
are difficult to perform by humans. In the upcoming generation the organization are also made
use of robots more to get more effective results and more accurate (Junejo, Kaabar and
Mohamed, 2021).
Click and mortar: The majority of the companies are more focussed to make use new
technologies in the year of 2020. The retailing organization are also trying to make the
technologies more efficient to reach more customer in limited time frame. In this industry the
technologies are also being misuse, so they will make use of identification Vector to find the
unfair practises.
Technology and COVID-19: The pandemic period has totally changed the activities of all type
of businesses and technology is playing a vital role in such pandemic period. The uses of
technology are continuously increasing and companies are using the technologies at every step.
The privacy and security is being totally done with the help of technologies. The sensor is being
more common and more sensor are going to be used to inspect the employees and other useful
things (Searle and et. al., 2021).
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Apple innovation requirements in 2021 and beyond
The Apple inc. is being more of the leading brand in the software and technologies in the
international market. They are continuously working in effectively manner so that they can
innovate their technologies in better way to enhance the profitability. There are different
innovation that are taking place in the Apple inc. to increase its efficiency. There are number of
product which are being offered by the Apple. For capturing the new audience in the
international market Apple need to innovate its products and services in the current market as
well as in the future (Felfernig, Tran and Le, 2021). To serve the customer with new
technologies the innovation is become important to do, so they are launching different series of
electronic devices including cell phones, tablets, I pad and many more than this only the required
to the Apple inc. to grow in the international market and attract more customers together. The
company also introducing innovative products which are required in the market for better
experience to its customers in the market. Some Apple inc product innovation are Air Tags, new
iMac models and Apple 4k TV's moreover the iPad is also being launch in 2020. These products
are being the requirements of Apple to sustain in the market and attract more customers.
The innovation is required in the cell phones of Apple inc. because the phones are
continuously coming with smiler features and efficiency so the customers of Apple need so new
so that they place themselves separate to others in the market (Smith, 2017). The technology of
Apple is effective but there is need to improve it further they can also use their technology in
some of its accessories in the market. They can innovation in glass technologies in AR in their
future to attract the customers in that glass there is dedicated display which have built in
processor with an effective operating system that is efficient to perform the task. This technology
will work with the touch panels on the glass, active with the voice and follow the gestures. With
the help of such innovation the mapping and texting become easier to the customers. This
innovation is required for the apple to stand out in the market and earn more profit in its near
future. They can also innovate in their phone outlooks as they can lunch foldable phone which
cover less space and easy to carry (Heikkurinen and Ruuska, eds., 2021). Moreover, in its future
Apple can also move towards auto-mobiles because the apple has created an outstanding image
in the international market and to carry on with this they should have to innovate more and more
so that customers are connected with brand. As the car are now coming which works with
electricity, so they can develop an innovative car which can work with electricity which have
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more features than any other electric car in the market so that they can attract the international
customers and enhance their brand value.
Building the innovation capabilities for Apple inc.
Innovation is basically to create more value that are going to use, the organization are
also had their innovation goals which are being separate from the common goal of any company
(Hu and et. al., 2021). The Apple can make use of approach and strategies that are helpful in the
developing the capabilities of innovation. The one of the common and famous strategy to
improve innovation is cascade, this approach have five stages which are helpful to develop an
efficient strategy for innovation.
Determining the objectives and strategic approach to innovation: In this stage Apple inc. will
go to know why they are innovating within the organization and in any other type of innovation
the purpose of the innovation is being evaluated. To enhance the ability to innovate Apple should
know the objective behind doing so it will help to innovate more effectively. The Apple can
make use of two innovative strategies that are:
Business model innovation: With the help of this innovation Apple can develop a new and
unique and specific concept which will Apple with different manner. Apple is also helped with
this model in knowing about the primary goal of going an innovation. They are helpful in
targeting the particular segment or the services and commodity offered by any organization. The
advantages are being increased and value creation is also being stimulated.
Leveraging existing business model: in this innovation the commodity is being innovated for a
sustainable incremental and regular improvement. With this existing products are being
improved with this core become stronger and create more value to apple products.
Know your market: Apple should know its market with the customer and other competitors to
enhance its capabilities to innovate in the market (Alblooshi and Shamsuzzaman, 2020). The
right place play and vital role in innovation process because without knowing which are the
target people then innovation can not be done. Apple should properly inspect the needs and
desire of the people before doing any change or modification. The knowledge of marketing
essential is also one of the main task to enhance the capabilities to innovate. With the effectively
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knowledge of its market people and competitors Apple can easily innovate its products to gain
competitive advantages and also stand apart in the market.
The major competitors of Apple are Samsung, Nokia, Sony and Palm which are also
innovating their products to grab more customers and offer better service to their existing
customers. So to attract the customers of its competitors so that they can shift their choose Apple
have to innovate totally different from them (Arranz and et. al., 2020). Innovation capabilities
will automatically enhance when Apple will know what is present condition of market and its
competitors so that according to that Apple can easily take its step to innovate. Moreover, Apple
is a valued brand in the market the innovation they used to do in the market are effective. Market
knowledge is being one of the main element in the field innovation because an effective
knowledge of marketing is essential for an innovation which will assist in better growth.
Defining the value proposition: this stage is vital to build the better innovation ability for
Apple. In this level the Apple identify the type and category of innovation and try to capture the
need value proposition (Bourke and Roper, 2017). An effective aim of innovation help to create
a competitive benefits so the company should totally focus to enhance the value which is going
to help the customers in saving their money as well as time. Apple should develop their product
so capable that they can assist the customer to invest more to grab the product from the brand.
For developing any unique value proposition the inability of exploit new contested commerce is
being recommanded. This proposition is effectively done through value innovation.
Value innovation: Apple can achieve the sustainable competitive benefits by looking over the
present understanding of the commercial enterprise. Apple should work by working in a way to
stand apart in the marketplace from its competitors (Losurdo and et. al., 2017). The company
should offer such product which are better than its competitors in the market and which are more
innovate to its competitor. The company is being more effective when they will offer better
quality and value to its customers. To innovate effectively company should provide regularly
more effective products that offers more value and more efficient to perform. By adding some
value to the existing product of the apple assist the company to enhance its value and attract
more customer's in the market.
Apple can also make use of product differentiation to give better value to its customer
and a sustainable competitive advantages for the company as well. For garbing the innovation of
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value the company should clarify the segments which is being targeted by the competitors of the
Apple inc. after knowing that apple can also make its innovation practises relating to that
particular segment to innovate in effective they will make use of the latest technologies and skills
which are not used by any of its competitors in the marketplace.
Assessment and develop the core ability: In the above levels the cascade approach of building
the capability of innovation are focussed on the capabilities which are required by Apple inc. to
sustain in the market with innovation practises (Martínez-Costa, Jiménez-Jiménez and Dine
Rabeh, 2019). For building its ability to innovate more effectively the company must consider
the culture in which they are performing their business activities because innovation need is also
in the same area. For innovation the company must investment its fund in the research and
development department to analysis the market and know what is needs arising in the target
market. The skills and knowledge of the people are also considered while innovating the
products because that technology which can be easy for the people that should be innovated by
the company to grab more customers in the market. The behaviour of the audience also assist to
innovate in right manner. This capabilities are required have to innovate. Apple inc. have to work
on this all aspects to develop a better innovation capabilities that are help in the innovation
process.
Establishing innovation techniques and systems: when the Apple inc. will have enough
knowledge about its customers and market then they can easily execute the strategy to innovate
in effective manner (Wang and Dass, 2017). Apple inc. will focus on technologies and systems
which are need in the infrastructure and elements collectively. In this process of establishment
the technology is being identify in the with the research and development of Apple inc. further
the role of education and trainings need to the people of organisation related to the innovation.
Apple should make use of innovative and new techniques that are unique and have a high value
in its market which will assist in more customer attraction and enhance the value of the brand
with innovation.
To work the innovation strategy in Apple inc.
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Focussing on innovation: When the company concentrate on the strategies of innovation and
further combine all the required activities which are need then Apple should make use of its
strategy related to Apple inc. the company have to make this task as an priority and focus on the
end goal in proper manner. The Apple further have to decide which are value that the innovation
is going to create then company should follow which is more critical. The long goal help to
provide a way to do innovation and by having respected limitation will contribute to focussed
with the end goal.
Alignment of innovation with the business goal: It becomes important to align the innovation
that Apple is going to do and the common goal of the company. There are number of companies
in the market which are not able to combine both of this task together. To get better outcome in
the strategy alignment the company should communicate the role for all the people in the
innovation process of the company.
Communicate the approach to be used: Apple has to make efforts to commit employees and
the innovation managing process. When the Apple management is efficient than they easily can
communicate the strategy of innovation to the employees. As in Apple Inc. senior most people
are reliable to take the decision and also prioritise the task which assist in motivation purpose. To
integrate the innovation with work the senior people of the company are used which will develop
the goals of the which will contribute in the strategy of innovation.
Measuring consistently and adapt: Apple use to tell the process of innovation which will assist
in better growth of the company (Marasco and et. al., 2018). For this the company will set an
expectation which are helpful in monitoring the process. The measuring the all the aspects
related to the innovation is helpful to make a change which is beneficial.
CONCLUSION
This report concludes that the innovation in the business is very important and it
is also necessary to offer better opportunities to the customers in the market. To sustain the
competitive market it is very important that business to innovation activities. Apple is one of the
leading brand in the technology and electronic yet to enhance its customer base and sustain in the
market for long it is very important for the company to innovate its product line and the services
they provide in the market. Further it concludes that the Apple is having a brighter future if they
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will work in the same way for long because the technologies are continuously changing and till
now Apple is one of the best that have effective technologies in its product range in the
international market. The company also have a better option to innovate some new gadgets
which are so efficient that create more value to the products of Apple. In the current situation
also Apple has change their technologies by innovating their products to attract more customer
and make use of digital technology to remain connected with the customers. Moreover, the
company can develop the capabilities to innovate by making use of cascade strategy which will
assist in making use of all the resources effectively. The company can more effectively launch its
innovation practises in the near future with this strategy. In this strategy of innovation there are
different factors which are help the company to look over all the aspects that are leading to make
change in the Apple inc. the effective use of this strategy is also undertaken in which the leaders
and employees all have to focus.
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REFERENCES
Books and journals
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efficiency, circularity and cleaner production: what 143 cases tell us. Ecological Economics. 155.
pp.20-35.
Geissdoerfer, M., Savaget, P. and Evans, S., 2017. The Cambridge business model innovation
process. Procedia Manufacturing. 8. pp.262-269.
Elmo, G.C. And et. al., 2020. Sustainability in tourism as an innovation driver: An analysis of
family business reality. Sustainability. 12(15). p.6149.
Asensio-López, D., Cabeza-García, L. and González-Álvarez, N., 2019. Corporate governance
and innovation: A theoretical review. European Journal of Management and Business
Economics.
Bucchiarone, A. and et. al., 2021. Guest Editorial Diversification in Urban Transportation
Systems and Beyond: Integrating People and Goods for the Future of Mobility. IEEE
Transactions on Intelligent Transportation Systems. 22(4). pp.2008-2012.
Junejo, A., Kaabar, M.K. and Mohamed, S., 2021. Future Robust Networks: Current Scenario
and Beyond for 6G. IMCC Journal of Science. 1(1). pp.67-81.
Searle, R. and et. al., 2021. Digital soil mapping and assessment for Australia and beyond: A
propitious future. Geoderma Regional. p.e00359.
Felfernig, A., Tran, T.N.T. and Le, V.M., 2021. Recommender Systems Beyond E-Commerce:
Presence and Future. In Consumer Happiness: Multiple Perspectives (pp. 203-230). Springer.
Singapore.
Smith, K., 2017. Beyond GSM-R: the future of railway radio. International Railway
Journal, 57(3).
Heikkurinen, P. and Ruuska, T. eds., 2021. Sustainability Beyond Technology: Philosophy,
Critique, and Implications for Human Organization. Oxford University Press.
Hu, S. and et. al., 2021. Blockchain and Artificial Intelligence for Dynamic Resource Sharing in
6G and Beyond. IEEE Wireless Communications.
Alblooshi, M. and Shamsuzzaman, M., 2020. Investigating the relationship between Lean Six
Sigma's intangible impacts and organisational innovation climate factors. International Journal of
Productivity and Performance Management.
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