8 1 Week 3 Strategic Management and Strategic Competitiveness Assignment Candice Taylor

Week 3 Strategic Management and Strategic Competitiveness Assignment
Candice Taylor
Strayer University
BUS499 Business Administration Capstone
Dr. Brian C. Grizzell
July 19, 2021
Week 3 Strategic Management and Strategic Competitiveness Assignment
Globalization has impacted various firms significantly. Apple is a technology firm whose headquarters are based in Cupertino, California, in the United States. The firm is among the most successful companies worldwide. Apple specializes in computer software, consumer electronics, and online services. The organization has been able to use technology and globalization to enhance its strategic competitiveness and management. This paper will discuss how technology, globalization, the firm’s mission and vision, resource-based model, and the company’s stakeholders contribute to the strategic management and competitiveness of the firm.
Globalization has impacted Apple Inc. in different ways. Globalization is the open flow of technology, information, and goods among countries, which has enabled firms to develop international influence or have enabled firms to operate internationally (Hitt et al., 2020). Globalization has enabled Apple to take its manufacturing overseas to improve efficiency and minimize costs. Apple Company has a market value of over $480 billion, mainly resulting in its overseas products. Only a very small percentage of profit is distributed to the overseas workers. After it began building factories in other countries such as China, the firm became globalized, which allowed for a wider distribution of the firms because consumerism spread. Being a leader in the technology industry requires a lot of investment. Globalization has enabled Apple to command a significant market share in Europe, Asia, and America (Heracleous & Papachroni, 2016). The firm has exceptional strategies to achieve unquantifiable success and remain the leader in offering high-quality products.
Globalization has enabled the firm to significantly cheaper and consumer-friendly products. As a result, the number of households who could afford the firm’s products increased. Besides, globalization has also had an impact on the firm’s supply chain. Apple Inc. earns higher profits since it can manufacture low-priced products and sell them at a higher price. Also, globalization has impacted the employment and operational practices of the firm. Apple can access every part of the market, which has enabled the firm to outsource production parts in different parts of the world (Heracleous & Papachroni, 2016). Outsourcing plants has enabled the company to manufacture new high-quality products. Besides, the firm has also attracted a committed, innovative, and talented workforce from different parts of the world. Globalization has enabled the firm to maximize its resources and profits.
Technology evolves every day, and it has impacted Apple in various ways. Technology has brought rapid advancements in information technology, and these advancements have brought beneficial impacts on Apple’s sustainability. Technology has enabled the firm to develop different software, such as the MacPaint software, which has brought digital art to the ordinary computer users. Besides, the GUI in this software has facilitated the creation of programs such as Photoshop and PageMaker. Technology has also enabled the firm to be more innovative by producing high-quality and innovative products according to customers’ needs. Even though the firm’s products are highly priced, consumers prefer buying Apple’s products since they are innovative and of high quality. Overall, the use of technology in the firm has enabled it to be a market leader and remain competitive. Apple Inc. also used Artificial intelligence (AI) in various ways. AI has transformed many Apple since the firm has adopted a more innovative and quieter approach towards AI. In 2020, the firm gave a hint on some updates and features that had AI. Firstly Apple used AI Facial Recognition for Homekit, enabling users to control and communicate with connected accessories using their app. Also, Apple uses AI to navigate sleep using the Apple Watch. Users can create sleep schedules and meet their sleep goals.
Industrial Organization Model
The industrial organization model focuses more on a firm’s external environment and studies the influences that affect a firm’s performance. Ideally, according to this model, the external environment determines the company’s actions to improve its performance (Hitt et al., 2020). The industrial-organizational model of Apple ensures the company achieves and maintains the anticipated profitability. The firm uses the model to perform market analysis to understand what the consumers want. Besides, it also enables the firm to use the reviews from social media to improve on their products. The company understands the environment surrounding its customers and developed a plan or a strategy to meet their expectations and needs (Pratap, 2019). The model depend on the organization’s ability to compete with other companies and convince buyers to purchase the firm’s products. Apple produces high quality and innovative products that are meet the consumers’ needs, which has enabled the firm to be a leader in the technology industry. The model has enabled the firm to generate high profits and achieve its primary goals.
Resource-Based Model
The resource-based model analyzes the resources a firm has. The resources develop the foundation to an organization’s capability that leads to superior performance. Apple Inc. has both tangible and intangible resources. Human resources are the most critical resources in the firm. The human resources include the CEO of the firm, programmers, designers, and engineers. The employees of the firm perform various responsibilities, and they are valuable assets in the firm. The firm employs competent, innovative, and talented individuals who enable the company to manufacture high-quality products and earn better revenues. Apple Inc. also has various capabilities. One primary capability is brand equity. Apple as a brand has achieved a leadership position in the market. The firm is known for quality and robust customer-centricity. The other capability is product quality. Ideally, the company can produce high-quality products. Also, Apple has a capability in research and innovation. The organization heavily focuses on research and innovation, enabling it to have a strong reputation as an innovative firm (Pratap, 2019). The firm also has a global presence, a critical advantage that the firm has well sustained. Apple also has an international and large supply chain that ensures the firm has good quality raw materials, which is the key to producing high-quality products.
The vision statement of Apple Inc. is, “We believe that we are on the face of the earth to make great products, and that’s not changing” (Apple Inc., 2021). The firm’s vision statement highlights that focuses on delivering high-quality products to its buyers. The statement has given detailed information on how the firm approached its operations, enabling it to position itself as the market leader in the technology sector. The vision points out some components are market specialization, innovation, and the integration of partners and excellence. The innovation components show that the firm applies technological innovations when manufacturing its products. The vision statement also indicates that the organization intends to continue producing quality products.
The mission statement of the firm is “to bringing the best user experience to its customers through its innovative hardware, software, and services” (Apple Inc., 2021). The company’s mission statement has highlighted that it intends to provide its customers with the best products and services it can serve, and it also states how the firm will achieve this. Also, the mission statement has highlighted the scope of the firm’s operations and how it uses them to satisfy the consumers’ needs. While concentrating on technological advancements, Apple has clearly stated that it brings positive change through innovation. From the mission statement, it is clear that the firm focuses on offering the best user experience. Ideally, the firm has manufactured user-friendly products with security features that enhance its experience. The statement also reveals that the firm focuses on improving people’s lives. The company uses user-friendly technology to produce its products which makes people’s lives easy. The statement also states that the firm focuses on producing high-quality products and empowers the public. The popularity of the firm’s products shows that the firm provides consumers with the best products. The firm’s products have quality hardware and software. Also, Apple Inc. empowers the public through innovation. Technology evolves every day; thus, the company continually comes up with new designs, which meet consumers’ evolving needs.
Apple Inc.’s success depends on the firm’s ability to satisfy its stakeholders. The company has various stakeholders who have an impact on the firm’s success. The first stakeholders are the customers. Apple Inc. gives priority to its customers as its top stakeholders. The primary interest of customers in the firm is to receive efficient and effective products, which are priced reasonably. The firm strives to satisfy the customer’s interest. When customers buy the firm’s products, the firm’s sales, revenue, and profitability increases. The other stakeholders are the employees. The employee’s primary interests in the firm are career development and compensation. The employees determine the ability to develop innovative and profitable products, which determines the firm’s success. The third stakeholders are the investors, whose primary interest is to maximize return on their investment. The investors inject the capital the company requires for research and development that contributes to the firm’s success. Suppliers are the other stakeholders who supply the firm with the quality raw materials needed to produce high-quality products. Lenders are also essential stakeholders since they lend money to the firm, which facilitates smooth business operations.
Apple Inc. (2021, January 27). Apple mission statement 2021 | Apple mission & vision analysis. What is Company Mission Statement? | Difference Between Mission & Vision. Retrieved July 19, 2021, from https://mission-statement.com/apple/
Heracleous, L., & Papachroni, A. (2016). Globalization and innovation at Apple Inc. Technology, 3(1), 23-47. https://doi.org/10.4135/9781526446565
Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2020). Strategic management: Concepts and cases: Competitiveness and globalization (13th ed.). Cengage Learning.
Pratap, A. (2019, July 10). Apple resources and capabilities. notesmatic. Retrieved July 19, 2021, from https://notesmatic.com/apple-resources-and-capabilities/