Strategic management project- final project

Apple Inc. is a company that has various strategic objectives. These objectives are considered as the most crucial to the current and future health of business. Strategic objectives can be identified by conducting a SWOT analysis of the company.

Strategic objectives

The first strategic objective of Apple is to increase its market share. The company’s fans have been declining over the years thereby causing a decline in the market share of the organization. There is a need to boost the market share for the company to remain as competitive as it was before.

There is a need to increase the productivity of the company to ensure that customers are satisfied with the products that Apple offers and also to increase the company’s profitability. There is a need to reduce production time and ensure that products reach to the final customer at a faster rate.

It is vital for Apple to become innovative as it was before the death of Steve Jobs. Steve Jobs had an innovative and creative mind that helped the company to produce goods that were very attractive in the market. The company needs to invest in research and development to ensure innovative products are discovered to ensure that the company remains competitive in the present and the future.

The company wants its sales to exceed 13 billion in sales per year. It intends to increase revenue by 20% per year. The company also has the objective to decrease its expenses by 5% annually and to increase its net profit by 10 percent annually (Hitt, 2007).

The company intends to employ professionals who will ensure that customers get what they want when they want and how they get it. The company intends to increase customer retention so as to ensure that the company’s revenue is increased. The company also intends to reach global markets that it has not reached yet.

Strategy Alternatives

The company has many strategy alternatives. The company intends to improve its processes by using various technologies. The company will also employ the best price analysis alternative to ensure that the company’s products are priced at a rate that is affordable for consumers.

The company needs to redesign its products to ensure that it is attractive to all customers. Further, it is vital for the company to reduce its suppliers to ensure that the inconveniences with many suppliers are reduced. The company can also enter into joint ventures so as to ensure that the company joins hands with other strong companies to ensure that its processes, products, and services are good to attract customers in a great way (Cole, 2012).

Related diversification can also be used to improve the company. The business can be expanded in the same areas that it specializes in to ensure that the iPhones, iPad, and others are diversified to get other new brands. Unrelated diversification is the strategy by which the company can engage in something different than what it normally produces. The company can decide to engage in other product lines so as to increase its sales and profits.

Strategy choice

The company needs to choose unrelated diversification and engage in another different line of production. The company needs to use this strategy alternative as it will help to boost the company income. The company will also manage its risks as when one line of production is affected the other one will boost the other. The company will benefit greatly by employing this strategy as it will diversify its resources. Customers will benefit from the company’s professionals as well as its strategies to give them high class goods and services. Apple needs to invest in a project that will ensure that this strategy works for the organization.

References Cole, G. A. (2012). Strategic management: Theory and practice. London : Thomson Learning. Hitt, M. A. (2007). Strategic management: Competitiveness and globalization; [concepts and classes]. Mason, Ohio: Thomson South-Western.