Principles of Management

Principles of Management

Assignment 1

How has APPLE successfully embraced innovation through the development of their products and services?

Steve Jobs and his friend Wozniak founded and established Apple Corporation in California in 1977. The company has a wide range of business including manufactures, designs, personal computer, media devices and markets mobile communication and media devices, and portable digital music players, and sells multiples products related to software, accessories, services, and among others. Appel is a global company and its product can be found worldwide in its online stores, direct sales force and retail stores, as well as through, retailers, wholesalers, value-added and third-party cellular network carriers. Apple’s main goal is to bring its users the best experience and therefore, the company is committed to product innovation. Advertising and marketing is very essential to any business achievement and, in order to develop technology and innovative product, the Company has been showing continuous investment to frequently introduce new product, ideas and methods.

The company went public in 1980 after the successful introduction of its product to the market. Sales increased tremendously and stocks price also followed the same trend and did so well. One of the key aspects in this industry is the technological innovation and Macintosh computer was released by Apple in 1984 with sales of 70,000 units followed by iMac that reached sales over 80,000 units right after Steven Jobs was nominated CEO in 1997.

        Apple has grown and continues to introduce new innovative product. Several products were successfully introduced into the market and from that point on, the entity did very well.

        Rated the no. 1 CEO due to the remarkable job and value added to the company, Steve Jobs along with Apple were consistently coming up with new products and ideas. Different products were released one at a time and in 2001 iPod was launched followed by iPhone, ITunes and iPad in 2007, 2008 and 2010, respectively. Apple was then considered by the multiples magazine the world’s best company

With sales increasing as new product and service are introduced to the market, Apples continues to grow globally and several product including Apple TV, Apple Watch, Mac, IPhone, IPad and iPod, makes up the portfolio of consumer. Appel TV is finally announced by the Company in September 2015 but did not become available for purchase until the end of October 2015. In addition, digital content and application are now sold and delivered through Apple Music, iBook’s Store, iTunes Store, Mac App Store and App Store.

Apple’s demand for service and product depends largely on the global economic conditions and reginal economic conditions and innovation could be affected by any factor. However, it is through R&D investment and acquisition of 3rd parties business that Apple keeps on expanding its product and service, enhancing existing one, achieving growth expectation and survive in a very competitive market. In order to demonstrate to the market and investor that Apple is one the most dynamic and valuable industries worldwide, from 2013 to 2015 the organization invested approximately $19 billion in R&D.