In April 1976, Steve Jobs founded one of the global leading electronic companies, Apple. Apple Inc. has evolved since its foundation. It has become a multi-billion entity with a variety of electronic products such as tablets, iPhones and iPads. It has over 400 retail shops set up globally, and it is the most publicized companies in the world. Steve jobs played a big role in Apple Inc. Steve Jobs was the brains and wisdom of the company. The fact has been brought to light through the losses in revenue experienced by Apple only two years after the founder‘s death. According to Wall Street analysts, the company has lost an estimated quarter of the value of its stock. Because of the loss in monetary value, many investors and shareholders have started questioning the possibilities of the company’s failure in the future. It has lost most of its potential shareholders who are looking to invest in rival technological giants (Kippreport, 4). Jobs success was highly influenced by his always innovative mind. He recognized that the technological world was dynamic, and required constant change.
Tim Cooks, the new Apple CEO has taken a different angle of leadership. His leadership style involves more PR recognition and publicity of the company. Cooks has incorporated methods that regain the publicity of the company that has been under very close public scrutiny. He is involved in public campaigns and has been seen in many interviews. In addition, Tim seems to have given his staff the opportunity to get more involved in innovative work. What many people are pondering on is whether the new style of leadership is causing the sinking of ideas in the company. It has been three years since the company launched its last breathtaking piece of creation. According to critics, the iPad needs to be improved by something better (Lusted, Marcia, 583). The consumers blame the lack of creativity on Tim Cooks, who has so far only participated in the launch of the iPhone 6. People are still waiting for the smart television that was proposed when Jobs was still alive.
Samsung electronics, Google, Sony and HP. Samsung and Apple are reported to have sold a substantive number of the smartphones in the market today. The two have produced the highest number of smartphones. Apple has made its trademark by a continuous upgrade of its iPhones while Samsung, and very frequently comes up with better futures for their smart phones. Samsung has an extra processing power. The processing power exercised by Samsung possesses a lot of competition for Apple. Samsung is always launching a better phone than the last one, which gives its consumers a variety of choices and features to work with (Strategy Analytics, 5). Apple is currently operating with improved versions of iPhones, which may not be a match for its competitors processing power. Hewlett-Packard became a threat to Apple when it increased its base from computers to tablets. The company realized that computers were becoming outdated and invested in the consumer tablet known as slate 7. It has special features such as sound enhancing technology and wireless printing software. Google also has Nexus 7, which is coupled by unique features. Therefore, every product that comes into the market is a challenge for apple to upgrade the features in its products.
One of the factors for success in competition is product innovation (Gong, Yeming, 48). To be ahead of one’s competitors, a company needs to establish a creative edge that will see them meet the needs of consumers in an extraordinary way. In addition, they also need to practice market innovation. It can be done by creating many independent opportunities in the market for their product. The aim is in establishing opportunities in flooded markets. In addition, aspects of costs and the effectiveness of products can be reviewed to create an advantageous position for a company. Furthermore, consumer preferences need to be met. The meeting of their needs will result in loyal and satisfied customers. Apple competes in the tablet area with many companies. Google, Microsoft Corporation, Samsung, and HP are among them. In smartphones, the major competitor is Samsung mobile. The two are the major areas in which the company faces constant competition.
Apple releases its products to a trusted set of suppliers before the product is released into the market. The group of trusted individuals then does an assessment and refines the features through proposals. By doing this, the company can master the market before it releases its product (Floyd, 48). Apple has a competitive edge over its most notorious competitors because of the uniqueness in its innovations. The company always releases breathtaking products for its customers. It is unlike its competitors who modify products or provide substitutes. The creativity of apple has always been its source of competitive power from time to time. Such can only be sustained through maintenance of the already existing framework of the organization. The company, however, needs to improve its speed of innovation. The technological world is moving fast, and the same pace should be afforded to the way ideas are generated. Apple has been considerable lower in speed than its competitors, especially since the death of Steve Jobs. In addition, apple needs to expand in the field of making software. It has been known to specialize in hardware that is used in its tablets, smartphones and computers. In addition, they need to invest in a lot of advertising, which is a strategy cook has embarked on.
Apple registered a profit of $64,684 billion last year. However, its stock market performance was good, but it had declined from earlier years. The current ratio it possesses is 1.68, its quick ratio is 1.40 and its cash ratio is 0.93.its current assets are valued at $73, 286 billion. It has current liabilities of $43, 658 billion. The factors that are imperative to the future success are its maintenance on uniqueness and adoption of continuous innovative measure. Apple Inc. Still has a future as a leading technological powerhouse.
Gong, Yeming. Global Operations Strategy: Fundamentals and Practice. Berlin: Springer, 2013. Internet resource
"Life after Jobs: The Challenge Ahead for Apple." Kippreport 6 Oct. 2011: 1. Print.
Floyd, C. Making Technology Pay. Brookfield, VT: Gower, 1997. Print.
Lusted, Marcia A. Apple: The Company and Its Visionary Founder, Steve Jobs. Minneapolis, MN: ABDO Pub, 2012. Internet resource.
"Strategy Analytics: Consumers Give Vote of Confidence in Both Samsung and Apple." Entertainment Close-up 23 Dec. 2012: 1. Print