Apple inc. commonly known as Apple, formerly known as Apple Computer Inc is an American multinational corporation that designs, develops and sells consumer electronic products , computer software and personal computers. Also deals with portable digital music players, networking solutions sand third party digital content and applications. Among its products are iPhone, iPod, Mac, iPod, Apple TV and Apple laptops among other products and services (Lashinsky, 2012). The company also delivers digital content and applications through iTune stores, App StoreSM, iBookStoresSM and Mac App Stores. Though its headquarters are in Cupertino, California, the company distributes its products worldwide through its retail stores, online stores , direct sales force and through third party cellular network carriers.
The company’s mission statement is , ‘we believe that we need to own and control the primary technologies behind the products we make and participate only in markets where we make a significant contribution.’ (Lashinsky, 2012). From the company’s mission statement, it is evident that the company invests in developing technologies and obtaining market position. The company has been so successful in achieving this mission with its continued technological innovativeness.
The basic legal environment that Apple operates in is global. Though the company headquarters are in California, its market is worldwide therefore, it has to observe the corporate laws of America as well as those of the united nation and other international organizations which supervise companies actions.
Apple has to observe its social relation with the society. Putting in mind that the institutions and the society as a whole requires and expects it to some things from it (Cherunilam, 2010). It ensures that its actions do not violate the community norms and values. In so doing it creates job opportunities and provides other services to the community.
The economic environment of Apple is as complex and dynamic like it is for any other company in the business arena (Lashinsky, 2012). National and international policies, trade cycles, economic resources, income levels and the distribution of income and wealth affect the business when they change either positively or negatively.
The management structure of Apple Inc. is as follows. At the top is an Independent Chairman of the Board, under him is the Chief Executive Officer or the director. Under him is the Chief Financial Officer followed by six Senior Vice Presidents and six Independent Directors.
The Apple Company is located at a strategic place where it obtains adequate, competent and skilled employee to work in the company (Cherunilam, 2010). It uses modern technology and equipment that not only enable it to produce better quality products but also in storage, transportation and sell through its Apple stores. It has a good human resource department that takes care of its worker to motivate them in order to help the company achieve its objectives.
The Apple financial issues have been improving with the company realizing more profit each year. For example in the financial result for the second fiscal of 2013 that ran from January to March 2013, the company posted revenue of $43.6 billion and a quarterly net profit of $9.5 billion. However, despite the continued success on returns, the company shares are losing value in the stock market.
The electronic industry is taking new turns every day with the wake of technological advancement. Apple Inc has not been let out in the embracement of technology. In fact, it is acknowledged as the pioneer of software that is used in the production of Smartphone (Lashinsky, 2012). The technological changes indeed are the reason behind the success of Apple in the electronic industry. This has not only given it a chance to command the market but also have a better dominant competitive power against its closest rivals like Samsung.
Cherunilam, F. (2010). Elements of business environment. Mumbai [India: Himalaya Pub. House.
Lashinsky, A. (2012). Inside Apple: How America's most admired-and secretive-company really works. New York: Business Plus.