APPLE COMPANY Essay Example | Topics and Well Written Essays - 2000 words

APPLE COMPANY - Essay Example Through a review of literature from diverse sources, the reports bring forth the findings on the business interventions the company has adopted in order to remain ahead of competition. Two main aspects characterize the strategies developed by Apple Inc, these are innovativeness and product diversification. These two strategies have been put in perspective in this report. In addition, conclusions are drawn from the findings and recommendations made. The company has adopted a differentiation strategy that has the following advantages; Increased competitiveness Uniqueness Flexibility Limitations of the strategy; Increased chances of imitation Uncertainty of the future Recommendations Rebranding Being cautious of customer needs Evaluation of long term and short term goals Introduction Background Apple Inc is the second largest multinational company in the information technology sector all over the world in terms of revenue. It is known for its electronics, software, and personal computer s. Their products have been admired the world over, the Fortune magazine has ranked it the most admired company in the world from 2008 to 2012 (Fisher 2008); (Colvin 2009); (Fortune 2010, 2011 and 2012). The company utilizes diverse means to reach out to their customers, including having retail stores, online stores, and selling to wholesalers among other ways. Objectives This report endeavors to: 1. Identify the strategies that have kept Apple Inc ahead of competition. 2. To analyze the business strategy developed by Apple Inc in an attempt to elucidate what makes them unique. 3. Develop a critical view and evaluation of the competitive strategies by Apple Inc 4. Analyze the limitations and the strengths of the strategies adopted by Apple. 5. Establish creative recommendations that will see the company stand the torrents of competition and change. Business Strategy A company ought to stand the dynamics of the business world through gaining a competitive edge over the rest. It is of essence that a company should establish a business strategy. According to Johnson et al (2011), a business strategy involves a long-term focus to achieve a competitive advantage through utilization of available resources and competencies to the attainment of the stakeholders’ expectations. Being ahead of competition brings forth differences in the customer’s perception of a particular product hence the willingness to purchase (Martin and Thompson 2010). A company that remains on top in terms of competitiveness must embrace change and must provide better services or products to the customers compared to the competitors. Such a company will remain profitable. Competitive advantage A competitive advantage is achieved through a business strategy that may affect part or the entire workforce (Romaniuk, Sharp and Ehrenberg 2007). The board of directors together with the entire management team has the responsibility of foreseeing the development and implementation of business strategies that will help the organization to remain profitable. Apple’s Competitive Advantage Apple is a company has grown to a multinational with a great reputation across the world. In its path innovation strategies, product diversification and acquisitions have contributed greatly to its success. Despite some lapses in the management at some point, Steve jobs took over the company to steer it to become a leader in the industry (Nair & Leng 2012). Findings Apple Inc stands