Business Writing Assignment 2

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Week 3 Assignment 1

Globalization and technological advancements have significantly influenced how modern businesses work to increase their competitive edge and financial performance standards. Furthermore, the strategic management framework and the resource-based framework may be used on enterprises to help them accomplish overall projected ambitions. For this assignment, I chose a company that many are familiar with. The Apple Company is among the most significant international businesses. Apple was formed in 1976 and is a global technology company that develops and sells computer hardware and software, internet service providers, and gadgets, along with various things. It is headquartered in the United States and works in various industries, including cellular telephone manufacturing. It is regarded as one of the greatest technological multinational firms in market share (Abdukarimova, 2021). Apple's earnings have increased due to its strong market sector growth and performance compared to its biggest rivals in the competitive market.

Globalization

Globalization could be referred to as the progression through which companies make a worldwide influence or start to operate on a worldwide platform. It would be understood that globalization has culminated in removing obstacles, which has boosted imports and exports. The removal of restrictions has enabled Apple to grow into new markets and increase its competitiveness and earnings. Presently, this firm works in 24 nations and territories and has approximately 500 outlets, and its commodities are sold in most places in the world. It has extended Apple's consumer base, requiring the business to raise manufacturing power to satisfy growing consumer needs and requirements (Mamaghani, 2016). As a consequence, the firm employs a combination of direct and indirect distribution techniques to improve on-time deliveries and prevent unnecessary complications and delays.

The degree of competition in the marketplace wherein Apple's Current works has significantly grown due to globalization. The firm is presently facing severe pressure against companies such as Samsung, Nokia, and Toshiba, among many others, on a worldwide platform. The rivalry is mostly focused on pricing, responsiveness, and manufacturing efficiency, as certain businesses can accomplish low operating costs and therefore implement superior pricing tactics. The consumer wants in the sectors where Apple works are incredibly competitive, requiring firms to be extremely attentive to prevent deficits. Nevertheless, the more significant rivalry has led to the development of high-quality items that benefit buyers (Puncheva-Michelotti et al., 2018). Therefore, competing firms are the potential of producing items comparable to some of those made by Apple and selling goods at a discounted cost. Apple is concentrated on delivering high-quality goods that meet the demands of buyers worldwide, which has impacted company activities and its hiring practices. To compete, the firm companies outsource manufacturing operations from other nations and subcontract from big manufacturers to preserve the production of quality products.

Globalization presents an impact on organizational operations approach. The global industry expansion and increased consumer requirements for the firm's products and services have introduced some of the unique company's plans and strategies. Apple uses product differentiation to guarantee that its products stand out amid competition by introducing unique characteristics to its goods and services world. A business must use distinctive methods to draw substantial consumer preferences to achieve the desired success in the international supply chain or competitive benefits (Ksenofontova, 2018). The strategy also includes improving network infrastructure to expand the corporation's worldwide reputation. Finally, Apple has been able to boost its financial performance due to increased demand from worldwide growth.

Technology

Current technology advancements have had a significant influence on how Apple works and also improved strategic competitive intensity. The present utilization of social networking sites is amongst the most important technological advancements. Apple makes good use of social network sites on a large scale which entails Twitter, Instagram, and Facebook, among several others, to advertise new goods and services to consumers. It's attributable that most contemporary purchasers depend heavily on the internet, specifically social networking sites, to get knowledge about particular items (Pınarbaşı, 2018). Because of the use of social networking sites, the firm has been capable of observing the strong effect of the new classification items. It has also established excellent relationships with consumers and workers via the usage of social media channels. Developing positive relationships with its consumers improves the ability to respond quickly to maintain and recruit consumers. Improved staff connections also improve engagement and dispute resolution. Apple also employs machine learning to enhance product design, productivity, and craftsmanship. For instance, the firm has developed a neurological processor which improves face detection and emotions.

Apple recently made substantial improvements in mechanization and robots to increase manufacturing efficiency while decreasing manufacturing costs. This aids in fulfilling growing consumer needs and requirements for its goods and services while also optimizing potential earnings. The firm also uses the company's webpage for advertising manufactured innovations and interacting with consumers. It has boosted the organizational reputation and the need for its goods and services (Ksenofontova, 2018). Apple's creation of program applications has aided in strengthening consumer satisfaction by connecting more international cultures. Consumers may use the program applications to engage with both the firm and provide reviews.

Industrial Organization Model

Inside the Apple organization, the industrial organization framework may be used to achieve quite an average result. The framework reveals the organizational approaches choices' major impact inside the surrounding company sector (Ksenofontova, 2018). It helps the organization recognize that perhaps the economy has an enormous impact on overall effectiveness than the organizational context, especially its decisions. The five forces concept strategy pushes Apple to concentrate on some of the most prospective market sectors to outperform its competition. Furthermore, the model enables the firm to highlight the use of the differentiation approach to achieve based on the profitability mentioned above (Hitt et al., 2020). It urges the firm to continue focusing on portfolio distinctiveness, mainly includes essential factors such as goods and services, design, price, and retail locations to achieve strategic attractiveness in the global market economy.

Resource-Based Model

The resource-based strategy might also be critical in enabling Apple to generate based on the revenues mentioned above. It may be accomplished by allowing the firm to focus on the organizational context while leveraging prospective skills and differentiated resources to leverage the surrounding working places. The firm needs to administer its assets efficiently to avoid waste and capitalize on any possibilities in an attempt to improve potential dangers. Using key capabilities like research & innovation and the personnel could also result somewhere above profits. The utilization of research & innovation may help a firm do consumer research on consumers to discover their requirements and analyze rivals to re-evaluate its strategy (Hitt et al., 2020). Recruiting and educating skilled personnel could support the firm improve its performance and achieve higher profit margins.

Vision

According to Apple's strategic direction "vision," the business is committed to creating outstanding goods and services by continually concentrating on development, cooperation, engagement, competence, transparency, and bravery to achieve the anticipated results. The strategic vision is linked to the business performance. It's because it necessitates the corporation's usage of development to improve research and development. It enables the firm to create high-quality goods that are always in sync with the demands of its consumers. It also pushes the firm to use market dominance to choose the best manufacturers for a more effective supply chain (Leśniak-Moczuk, 2016). Through performance, the firm is compelled to concentrate on ethical principles to avoid unethical behavior. As a result, to achieve the required performance level, every choice must be linked with the vision statement.

Mission

The mission declaration for Apple company is Apple manufactures Macintosh, the global most outstanding consumer electronics, OS X, iLife, iWork, and commercial applications. Apple, including its iPhones and apple music online marketplace, is at the forefront of the digital music popular uprising (Bogdanoff, 2018). Apple has revolutionized the smart telephone with some of its innovative iPod touch and Application Store and is redefining the potential of smartphones media and personal computers with iPod touch and allowing the firm to differentiate itself against opponents by outlining the numerous goods offered to consumers. It enables the firm to focus on its manufacturing to deliver the most outstanding products and services on the market that are in limited supply.

Stakeholders

Stakeholders fall into three segments: financial institutions, market characteristics, and company stakeholders. Borrowers and stockholders are among the Apple Corporation's financial system counterparties (Mitchell, 2019). The stockholders make a substantial contribution throughout the firm to aid in its functioning and expansion into new global markets. Borrowers, which primarily comprise banking institutions, provide financial products to the firm, including such investing, which helps to ensure corporate accounting stability. Consumers, manufacturers, and business groups are all market orientation participants. Consumers play an essential role in business performance since consumers buy organizational products or services. The organization offers excellence and sustainable development initiatives to maintain and entice potential consumers to boost profit margins.

Moreover, to minimize complications and meet the necessary measure of privacy, the suppliers supply the appropriate products at the right moment. Union members guarantee that workers be recognized and appreciated by providing a higher compensation package to enhance their enthusiasm, which then, in turn, generates corporate production. Ultimately, management and workers are overall organizational shareholders. Workers assist in the execution of administrative responsibilities to ensure excellent goods and services for consumer satisfaction. It guarantees that a corporation meets its objectives (Mitchell, 2019). Managers offer oversight and management of a corporation to ensure that the required levels of development are met.

Conclusion

In brief, globalization has benefited corporations by offering an international market, higher revenues, and expansion opportunities to enhance comparative benefits. For instance, the case of Apple company which I have discussed its various aspects. Advancements in technology have indeed revolutionized how businesses run and maintain a competitive advantage. For instance, the present utilization of social networking sites is amongst the most significant technological advancements. Apple makes good use of social network sites on a large scale which entails Twitter, Instagram, and Facebook, among several others, to advertise new goods and services to consumers. Furthermore, to attain the predicted operating efficiency, businesses should make choices linked with both the vision and goal declarations and then further maintain the many stockholders.

Sources

1. Abdukarimova, M. (2021). Company overview for 2017-2021: Apple vs. Microsoft. International Journal of Current Science Research and Review, 04(07). https://doi.org/10.47191/ijcsrr/v4-i7-21

2. Bogdanoff, D. (2018). Why does Apple slow down old iPhones? ELECTRONICS: Science, Technology, Business, (6), 134-135. https://doi.org/10.22184/1992-4178.2018.177.6.134.135

3. Hitt, Ireland, & Hoskisson. 2020. Strategic management: Concepts and Cases: Competitiveness and globalization (13th ed.). Mason, OH: South-Western Cengage Learning

4. Ksenofontova, K. Z. (2018). Business model and strategy of industrial company management. https://doi.org/10.15405/epsbs.2018.12.78

5. Leśniak-Moczuk, A. D. (2016). Vision, strategy, innovation in Apple company. Zeszyty Naukowe Uniwersytetu Szczecińskiego Finanse Rynki Finansowe Ubezpieczenia, 83, 33-40. https://doi.org/10.18276/frfu.2016.5.83/2-03

6. Mamaghani, F. (2016). The strategic impact of big data on competitiveness. International Journal of Strategic Management, 16(1), 21-26. https://doi.org/10.18374/ijsm-16-1.2

7. Mitchell, B. (2019). Stakeholders and partnerships. Resource and Environmental Management, 145-176. https://doi.org/10.1093/oso/9780190885816.003.0006

8. Pınarbaşı, F. (2018). The effects of strategic design on business operations. Contributions to Management Science, 115-129. https://doi.org/10.1007/978-3-319-77622-4_6

9. Puncheva-Michelotti, P., Hudson, S., & Michelotti, M. (2018). The role of proximity to local and global citizens in stakeholders' moral recognition of corporate social responsibility. Journal of Business Research, 88, 234-244. https://doi.org/10.1016/j.jbusres.2018.03.027