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In order to do this, the enterprise has to carefully analyse the market environment. The company’s continued growth comes with a lot of strain on the internal structure of the organization. The management process and style have to be re-evaluated during this growth process. This may involve recruitment of non-owner-managers and development team to take the enterprise through the growth stage, failure to which the business may decline or even collapse. Apple has displayed this in the past with its restructure that first, saw Steve Jobs resigning from the company, and later on re-join it to spectacular success.
Additionally, for technology firms incorporating new technologies and using of relevant advertising tools to reach more clients and customers,
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The Business Model canvas also helps entrepreneurs, employees and customers to comprehend how the organization puts into use and integrate its various components. By doing so, it enables the facilitating of communication with the players mentioned. This makes the starting point of a great discussion on the available business opportunities, how these activities can be made to bring out the mission and vision of the business, and in the identification of risk and failures in the future (Chesbrough, 2005). This model also helps the entrepreneur to consider various elements of the business both in part and also as a whole. This helps in the concentration on various components of a business, while ignoring other parts for in-depth analysis which enables the evaluation of the risk that may arise due to the inclusion of a certain component of a business without thorough consideration (Magretta, …show more content…
For an entrepreneurial venture such as Apple, where at the beginning angle investors were employed (CNN, 1998) to its present state where the business is said to be in a period of stability, its structure of centralized decision making has transcended to the use of more sophisticated decision-making procedures (Blank, 2006) in the form of larger organization strategies. At this stage, the income generated from the sale of the firm’s products and services remains fairly constant. The business is said to have utilize all the available resource and cannot expand further unless a new management comes in to assist with new business idea and innovation. This may come in a change in corporate strategies and vision or also through a merger and acquisition direction to gain further inroads into new ventures and expansion of operations.
5. Management and Execution
For this part of the entrepreneurial life cycle, we look towards Apple’s future development in undertaking the management concepts and execution of its measures to achieve future success not only from a scalable business, but one that will allow it to continue to grow amidst the ever changing competitive landscape. This can be done through several key areas.
• Destructive
Within the last decade Apple has become one of the largest growing companies in the world and the largest valued company in the United States. According to a recent article in The Guardian, a global financial news website, “Apple set a record by becoming the first company to be valued at over $700bn (£446bn).” (Fletcher, N. 2014) This comes as no surprise to the average computer aficionado and shareholder as Apple has been making a name for itself since its inception. From its earliest Macintosh models to today’s iPhones, Apple has been a trailblazer for software, technology and revolutionizing the way we communicate on a Macro level. Their dedication to innovation, quality and service has made them
Zott, C., Amit, R. And Massa, L. (2011) ‘The Business Model: Recent Developments and Future Research’, Journal of Management, vol.37, no.4 pp.1019-42 [Online]. Available at http://jom.sagepub.com/content/37/4/1019 [Accessed 24th November 2013]
Apple Inc is a multinational organization in America and has its headquarters in California. The organization specializes in the design as well as development of consumer electronics including: computer software 's, and also personal computers. The organization has for long been offering a broad range of communication mobile communication as well as its own company software’s. The organization has quite an upright name in the business world. For a long period it has been producing quality product and their designers really bring out uniqueness in their products (Linzmayer, 2004). Apple Inc has established itself as being the world’s leader in innovation. Thus according to statistics; it is classified as being the fourth most valuable technology
2: Finkle, Todd A., and Michael L. Mallin. "Steve Jobs and Apple, Inc." Journal of the International Academy for Case Studies 16.8 (2010): 49+. General OneFile. Web. 19 Oct. 2011.
The company not only produces the number of highly technological devices, but also has a great brand ideology lying behind. The following chapters would review each of factors determining Apple`s success.
Introduction and Background Apple, Inc is a well known name in the computer technology world; Apple, Inc leads the computer industry in innovation thanks to the award winning desktop and notebook computer known as OS X operating system (Yoffie & Slind, 2008). This paper will focus on Apple Inc., strategic management and why is it critical to the success of the organization in meeting its goals and mission. It is therefore important to define strategic management, according to Certo, Peter & Ottensmeyer, (2005), strategic management is a continuous process that directs an organization to be appropriately suited to its internal and external environment. Strategic management benefits organizations by providing personnel, capital, helps to set standards and most importantly activates people. For an organization to have a successful strategic management plan, the mangers must learn to think strategically and have the ability to evaluate their environment and develop new ideas.
Apple has made reasonable management of its human and material resources since its innovational approach demands effective strategic allocation of its resources to the development and utilization of its productive resources to support its innovative investment strategies. Effective strategic control brings power to Apple’s decision-makers to allocate its resources to confront the technological, market, and competitive uncertainties which are inherent in the innovation
According to Ideavist (2011), due to the increase in competition as rival companies try to capture a piece of the market share leads businesses to employ various tactics to handle such situations. Some of the strategies used by companies and that Apple could find very constructive could include the below marketing strategies to be used for future success.
Taking a step back into Apple's product history, and noticing how ancient the first products seem, compared to the sleek, "cool" products of today, will leave you feeling inspired. Apple has gained technological superiority over its competitors, but how and does Apple plan to continue its advantageous market share in such a rapid, fast-paced technological era? Apple has a cult like following, consumers who are anticipating and ready to purchase new Apple products as soon as they are released. Technology has become second nature and a very important aspect of millions of consumers' lives.
Apple Inc. was established by Steve Jobs and Steve Wozniak on April 1, 1976 as a computer designer, developer and seller company. However, the company shifted its focus from only personal computer to include other consumer electronics such as portable media player and mobile phone in 2007. Apple Inc becomes one of the most popular makers in its field since it seems that its popularity has increased according to a report on www.statista.com that Apple Inc’s products sales was generally increasing throughout the first quarter of 2006 to the first quarter of 2014. On the one hand, it has increased its revenue from about 14 billion US dollars to more than 170 billion US dollars in 2013. All in all, the company is highly successful corresponding to its products’ development and their sales growth in world’s market.
...not just the financial issues for example equity shares, turnover and profitability. Before any growth entrepreneur need to have a plan to ensure that they know the risk and what problems will be appear and the solution to solve the problem. Although a growth plan is times consuming to be preparing but other company would like to look at the plan before doing anything. Also entrepreneurs always need to beware of the company vision is it similar to each other, culture and the communication also will affect the result and should be considered carefully. Those are the main reasons to make company businesses successful or failures in few years. Furthermore, this method cannot predict one thing is the timing, sometimes entrepreneurs miss the right time to growth their company because of the physical problem like earthquake or hurricane occurs which no one can predict it.
When the buzzword of business model was very active and reactive during the internet boom, many individuals did not understand the concept of the proper business model for the proper business (Magretta, 2002). When not utilizing the right type of model for the organization, the model will be misused and distorted (Magretta, 2002). Understanding the traditional organization and learning organization, will allow an organization to determine which time of organization they desire the most.
The article raises the issue of revenue growth stalls that affect even the most successful companies. The article focuses on four major causes of the crisis. The first cause is the premium-position captivity that is”the inability of a firm to respond effectively to new, low-cost competitive challenge or to a significant shift in customer valuation of product features” (p.54). The second reason is the innovation management breakdown that is”some chronic problem in managing the internal business process for updating existing product and services and creating new one” (p.56). Third reason is the premature core abandonment that means “the failure to fully exploit growth opportunities in the existing core business” and “acquisitions of growth initiatives in areas relatively distant from existing customers, products, and channels”(p.56). Finally, the fourth cause is the talent bench shortfall that is “a lack of leaders and staff with the skills and capabilities required for strategy execution” (p.58). Authors emphasize that these causes are mainly within management control since they result from “a choice about strategy or organizational design” (p.54).
Zott, C. et al (2010) «The business model: theoretical roots, recent developments, and future research», Working Paper 862, June 2010, Navarra: IESE Business School – University of Navarra.
Strategic renewal is another desired outcome of corporate entrepreneurship. The new economic order and business environment has created a pace of change which requires businesses to adapt more frequently and rapidly than ever before. The changes could involve corporate structure, mergers and acquisitions, addressing new market opportunities, changing product portfolios, repositioning, adapting infrastructure, or adopting new technology. Managers in an organization must be able to take stock of its situation under changing market conditions and agree on a coherent new strategy that will meet the challenges of the present as well as of the future.