Final Strategic Plan

Strategic Management

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Identify the major components of the strategic management process.

Strategic management refers to the formation of policies and actions that that are meant to help an organization gain competitive advantage over competitors in the market (Wheelen, Hunger, Hoffman et al, 2017). It is through these strategies that the management is able to make decisions that enable the company to establish its place amongst the competitors. For companies such as Apple Inc. there is need for strategic management due to the fact that the market for their products keeps changing. This call for proper planning that will make sure that they are not left behind.

Under its capable management, Apple Inc. has clearly outlined its strategic management process that is composed of a series of stages;

Goal setting- This involves gaining an understanding of where a company wants to be in the future (Wheelen, Hunger, Hoffman et al, 2017). In this stage Apple Inc. management comes together to break down the company’s vision into more specific objectives, goals and tentative steps that can help achieve the set objectives.

Analysis of information- Once Apple has identified its goals, the management then ventures into collection of data on the specified goals. The data comprises of what will promote or hinder the attainment of the goals and how the goals work in the benefit or loss for the company.

Strategy formulation- This involves coming up with the exact means of achieving the desired goals and also determining how the company resources will help in the implementation of the agreed upon strategy.

Implementation of strategies- For Apple Inc. this is one of the most important stages in its strategic management process. The stage involves putting into action the agreed upon strategies. For example, during the introduction of the IPhone, the release of this product into the market was an implementation stage for Apple.

Evaluation and control- Here, Apple managers sit down to analyze their progress so as to determine if they made losses or benefits. From this, they know what to change/improve on and what to maintain.

Discuss how these components work together to create value for the organization.

It is from the above mentioned steps that Apple Inc. has become a household name in the tech business. The above steps create value for the company in that;

Goal setting enables Apple to realize where it wants to be in the future therefore work towards that. Without direction Apple would not make any progress

By gathering information on the goals and objectives, the company gains insight on what it’s getting into. The step gives them a heads up on the obstacles that can hinder them from achieving their goals therefore they have a chance to prevent such occurrences.

Formulation of strategies helps the management at Apple decide on the specific courses of action that they will take and also determine if they have enough resources to cater for these courses of action (Rothaermel, 2015).This step helps prevent the company from going bankrupt due to overspending.

Implementation of strategies is what makes Apple stand out. By using new means of operation or introducing new products (action stage), the company stands out from the rest therefore attracts more customers.

Evaluation and control allows the company to see if the new strategy has helped bring in loss or benefits. Evaluation also allows for changing of what the company is not doing right.

Evaluate the company's mission statement, vision statement, motivation strategy, innovation strategy, and people strategy. If the organization does not have one or more of these, how does that affect the organization and its people?

Apples vision statement says ‘Man is the creator of change in this world. As such he should be above systems and structures and not subordinate to them’. Apple works hard in ensuring that its customers are in control of the devices they purchase. This helps ensure that customers have an easy time in using Apple products.

Mission statement- ‘Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. This may not look like an ideal mission statement. However, from the list of products we see in the statement, the company assures its customers of its continued production of quality products that the customers will enjoy. Its mission is to completely change the world of technology according to the customer’s needs.

Apple uses a motivation strategy that comprises of; ensuring its employees are well paid and provision of an ideal working condition (Hitt, Ireland & Hoskisson, 2012).The two keep employees energized hence produce even more.

The company’s innovation strategy is; the production of new and unique products and the implementation of innovative business models. Production of unique products like the IPhone (which guarantees total privacy for the customer) have made Apple a reliable company compared to other tech companies.

The best people strategy that Apple uses is allowing its employees to own their career by not promising employees career progression. This gives them a chance to get creative and work hard at nurturing their own skills and talents.

Explain the role of ethics and corporate social responsibility in strategic planning.  How does this direct their strategy?

When it comes to planning, Apple is keen on ensuring that the decisions its management makes are in line with ethical requirements and through them the company is able to give back to the community. For example, some of the major decisions that the company has made include the reduction of excessive work hours and elimination of child labor. For such a long time the company has worked hard to increase its level of production which in the long run has led to the recruitment of child workers and the subjection of employees to long hours of working (Myers & Fellow, 2014). This was changed because it is illegal to employ children according to the law and humanly unfair to overwork employees. It is from the evaluation process under strategic management that the company was able to realize its mistake.

Giving back to the community is an essential aspect of the strategic management process at Apple Inc. Every time the company evaluates its sales and benefits, it sets aside some money for donations to people that are in need. When it offshores its businesses, it ensures that people in the new locality get employed. At the end of the day, the community gets to gain something from the progress that Apple makes.

How does the organization's vision and mission align with your own values and vision?

Throught my life, I have always valued and desired quality. The mission and vision statement of Apple assures me of quality products that will serve my needs best. I totally agree with Apples mission of ensuring that I enjoy good services and products. An example of an Apple product that I fancy most is the IPhone (a mobile phone that allows for total security and privacy). I will always be an Apple customer!

References

Wheelen, T. L., Hunger, J. D., Hoffman, A. N., & Bamford, C. E. (2017). Strategic management and business policy. pearson.

Rothaermel, F. T. (2015). Strategic management. McGraw-Hill Education.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2012). Strategic management cases: competitiveness and globalization. Cengage Learning.

Myers, C., & Fellow, K. (2014). Corporate Social Responsibility in the consumer electronics industry: A case study of Apple Inc. Resource document. Georgetown University, Edmund A. Walsh School of Foreign Service. http://lwp. georgetown. edu/wp-content/uploads/Connor-Myers. pdf. Accessed, 10.