CAPSTONE

Week 3 - Strategic Management and Strategic Competitiveness Assignment Introduction

Tyrell Wilson

Strayer University

BUS499 Business Administration Capstone

Dr. Gardner

January 23,2023

Week 3 - Strategic Management and Strategic Competitiveness Assignment Introduction

The state of technology is one that is always evolving and will remain so for a considerable amount of time in the future. Jumping from one product to another in order to satiate their demands for work and amusement is a common practice among many people all over the globe. These individuals will do all in their power to stay current with the most recent developments in the field of technology. Apple's innovative thinkers have been responsible for the development of a wide variety of different kinds of technologies that are now on the market. Most of Apple's innovations have been utilized and altered by other firms in order to develop with comparable ones for their goods as well as their audiences. Apple is often credited with being the source of many of these concepts (Apple Press Info, 2016). Apple has emerged as one of the most influential companies in the development of modern technology. Even if the company does not end up being the most successful in the market, it will continue to set the standard for many years to come.

Globalization

The global economy is becoming increasingly interconnected as a result of the free flow of goods, services, people, expertise, and opinions across national frontiers made possible by recent technological advancements. These advancements have created a level playing field and made it possible for everyone to partake in global commerce on an equal ground. The world economy and technologies, in particular fast technological progress, have been altered as a result of globalization, which has generated two key drivers of hypercompetitive settings and the makeup of today's competitive industry, both of which are dissolving industry borders. The Macintosh personal computer was first released by Apple Inc. in 1984, and this marked the beginning of the company's contribution to the breakthrough in personal technology.

Technology

Apple Inc. is now the most innovative company in the world thanks to its Mac computers, iPad, iPhone, Apple TV products and Apple Watch. Additionally, Apple Inc. provides access to four distinct software platforms. 1) Watch OS 2) TVs tvOS 3) IOS and 4) OS X, all of which deliver a satisfying experience among all Apple products and empower customers with ground-breaking services like as the Apple Music, App Store, iCloud, and Apple Pay (Marty. 2020). The dedication of Apple personnel to making the finest products and to transforming the world to a better state than they found it has resulted in record-setting quarters and continues to fuel amazing employment growth. Apple is to thank for the creation of employment in several regions, including the US, China, and Europe. Over $40 billion has been spent by customers from across the globe on applications for Apple products such as the Mac, iPhone, iPad, Apple TV, and Apple Watch. These customers also like using these apps. App Store categories had the greatest success with their offerings in the gaming, social media networks, and leisure categories. The introduction of the brand-new Apple Watch and the Apple Tv is now changing the way that consumers consume content via their televisions and giving critical data on Apple's most personal gadget to date, the Apple Watch (Marty. 2020).

Industrial Organization Resource-Based Model

Vision

Apple has a significant chance to boost its income by implementing the industrial organization and resource-based models into its business. Apple's ability to maintain its market dominance while also maintaining above-average profits is made possible by an economic model known as the industrial organization model. Because of their knowledge of the competitive environment, industry practices, strategy creation, assets and talents, plan execution, and excellent return, the leadership team is able to optimize earnings and keep the organization on its path of further expansion.

According to this concept, resources are believed to be very important for the success of a company. In order to maintain a competitive edge over time, it is necessary to have access to the appropriate resources. They need to keep investing in development and research so that they can come up with novel technologies and apps if they want to enhance customer loyalty to their brand. Market leaders that are able to maintain their advantage over their rivals will have a better chance of remaining competitive. Apple has a significant market share since it is the industry standard bearer in the field of technology. Their marketing and promotion techniques have, on a global scale, raised awareness of their goods and technologies, as well as demand for those things (Marty. 2020).

Mission

To provide its clients with the very best user experience possible by developing cutting-edge hardware, software, and service offerings." This is Apple's mission statement, which was published in the firm's 2018 annual report by Tim Cook, the firm's existing Chief Executive Officer. Apple underlines in its mission statement that it was founded in order to provide its customers with the highest level of service that is humanly feasible. The firm lays forth its plans for achieving this objective as a component of the mission statement that it has created. The firm, in accordance with what is mentioned in its mission statement, defines its present activities and how they assist it in meeting the requirements of its customers (Hitt, 2019).

Despite the rapid pace at which technology advancements may occur over the course of time, Apple has made it very apparent that the primary goal of the company is to effect good change via innovation. The following four components are included in this declaration of mission: Top-quality goods, the best possible user experience, making people's lives better, and giving the public more agency is some of our goals.

Stakeholders

Apple's success may be partially attributed to the company's commitment to both corporate social responsibility (CSR) and the happiness of its stakeholders. The expectations of various stakeholders have an effect on corporate social responsibility, and those expectations are then interpreted as different organizational social duties. Stakeholders at Apple have a tremendous impact on both the perception of Apple's consumers and the company's sales income. Because Apple's brand continues to maintain a high value, the company's plans and policies successfully take stakeholders into consideration (Andrew, 2017). The organization is in a position to meet the concerns of its stakeholders about the environment as a result of having a policy on sustainable sourcing. Apple takes a comprehensive and professional approach to addressing the concerns of business stakeholder groups that are important to the company. Apple is compelled to make advancements as a consequence of the need to cater to the needs of the many stakeholder groups (William, 2019). Michael A. Hitt. 2020. Strategic Management: Concepts and Cases: Competitiveness and Globalization. 13th ed. Cengage Learning.

References

Andrew Thompson. January 29, 2017. Apple Inc. Stakeholders: A CSR Analysis. https://panmore.com/apple-inc-stakeholders-csr-analysis#:~:text=Stakeholder%20groups %20impose%20demands%20that%20translate%20to%20corporate, in%20terms%20of %20customer%20perception%20and%20sales%20revenues.

Apple Press Info (January 6, 2016). Record-breaking Holiday Season for the App Store: App Store Has Now Paid Developers Nearly $40B and Continues to Drive Job Growth. Retrieved from https://www.apple.com/pr/library/2016/01/06Record-Breaking-Holiday

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2019). Strategic Management: Concepts and Cases: Competitiveness and Globalization (13th ed.). Cengage Learning US. https://strayer.vitalsource.com/books/9780357125854

Lu, W. M., Kweh, Q. L., Ting, I. W. K., & Ren, C. How does stakeholder engagement through environmental, social, and governance affect eco‐efficiency and profitability efficiency? Zooming into Apple Inc.'s counterparts. Business Strategy and the Environment.

Marty Swant. July 27, 2020. Apple, Microsoft, And Other Tech Giants Top Forbes’ 2020 Most Valuable Brands List. https://www.forbes.com/sites/martyswant/2020/07/27/applemicrosoft-and-other-tech-giants-top-forbes-2020-most-valuable-brands-list/? sh=7d78dfe23ada.

William Diener, K., & Small, E. (2019). # MeToo and lessons in stakeholder responsibility. Business and Society Review, 124(4), 449-465.

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