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With the goal of delivering the finest possible personal computer experience to its consumers wherever they go, Apple has made its high-tech, ground-breaking hardware, software, and Internet solutions available to people all over the globe via its retail store and online store operations. With the help of Igor Ansoff's Matrix of Growth Tactics, which he designed, businesses may aggressively enter new markets and industries. Apple is rapidly extending its business activities in order to enjoy the advantages of its international market dominance, which it expects will result in increased profits. A large number of people seek out Apple products as a consequence of the company's established reputation in the industry for holding the latest and most advanced software. Customers' satisfaction is the company's number one priority, thus the company is always producing new items while also improving the quality and feel of its present products. Throughout the process, each component is applied using the congruence model in order to manage and detect difficulties that may develop. A risk management strategy for a corporation provides a set of assumptions and constraints about the hazards that the company may experience in the course of its operations.
In order to evaluate one of the most notable technology and software firms, Apple, the corporation’s effort may be witnessed in the project that they have done. Apple is one of the most renowned technology and software companies in the world (Thanh, 2019). Current CEO Tim Cook oversees the company, which was founded by Steve Jobs and two other partners. The company’s products are well-known in the industry for having next-generation software, which makes them highly sought-after. In order to keep its customers satisfied, the firm is always trying to develop new products and enhance the feel and quality of existing ones.
People are hoping to be inspired by the company’s excellent product, which makes life simpler for its customers. The company’s mission is to provide high-quality software, hardware, and customer support to its customers in order to improve the entire experience of the user (NIK SOH, 2019). Customers and customers’ alike benefit from using congruence models in their operations and products because they wish to build harmony both inside the firm and among its customers and their customers’ customers. The company use the congruence model to handle each element and identify the issues that are influencing the operation.
They delve further into the interrelationships between the items they’ve previously discovered in order to achieve long-term harmony inside the organisation. They are able to capitalise on and grow upon their opportunities and threats as a result of the firm’s detailed SWOT and PEST study of their organisation. Corporate strategic planning is also handled by the organisation, which takes a number of factors into consideration. In response to the issues, our company developed a good strategy for dealing with them, which included identifying the source of the problem and developing a plan to reduce its severity.
Apple is committed to providing the best personal computing experience possible to students, teachers, creative professionals, and consumers around the world through the use of high-tech, revolutionary hardware, software, and Internet solutions that are available everywhere to every customer in every conceivable way (Xie et al., 2018). In the company’s mission statement, which emphasises product and service innovation while also keeping integrity in all business interactions, you may find a concise summary of the company’s strategic business objectives.
Apple’s worldwide business ethics are followed by the corporation as a whole. It is with great excitement that the firm announces the launch of a new product, called Air tags, on the market. The strategic choice model has been selected by the firm in order to effectively market the product in question (Pontikes, 2018). By adopting the core strategic choice model, the company’s new product will assist them in achieving their goal or motto in the most efficient manner. Clients benefit from a clear explanation of the company’s goals since it makes it simpler for them to discover the goods they want. In the third stage of the model, the product launch and marketing strategies of the company are established. This will aid the firm in its strategic pursuit of its objective. The fundamental purpose of this organisation is to supply its customers with the best products available at the highest possible level of craftsmanship. On the overall, the firm in question has used excellent strategic management practises that have assisted it in improving its performance and increasing its market share by supplying customers with products that are really unique. Apple’s business strategy is characterised by vertical integration, which enables the corporation to simultaneously develop expertise in hardware, software, and other services while maintaining a competitive advantage.
Those who have a vested interest in the success of the company should be involved in strategic planning as important stakeholders. Workers and their unions, customers, suppliers, shareholders, regulatory agencies, owners, supply chain partners, and members of the local community are all examples of stakeholders. To ensure the success of a business, each individual has a unique perspective on what is necessary (Bereznoy, 2019). External stakeholder perspectives and insights are especially valuable at the early stages of planning because they give insight into the existing environment as well as a vision for the future of the firm. Employers benefit from their hands-on experience since it allows them to understand the company’s strengths and weaknesses, and they know precisely what it takes to get the work done properly. Apple’s capacity to satisfy its stakeholders and fulfil its corporate social responsibility accounts for a significant percentage of the company’s success (CSR). A company’s financial performance is impacted by the demands of stakeholder groups, which are converted into corporate social duties. Stakeholders have a significant influence on Apple’s business, both in terms of how consumers perceive the firm and in terms of revenue. It is logical that Apple takes the opinions of stakeholders into account when creating its policies and rules, considering the company’s long-lasting brand value (Adobor, 2019). A good example of how the firm addresses environmental concerns raised by stakeholders is via sustainable material sourcing. Apple has developed a thorough and comprehensive approach for dealing with the many stakeholder groups that are vital to the company’s operations. Due to Apple’s ability to meet the requirements of its many stakeholder groups, the company has gained power.
Pricing, marketing, and other aspects of the business are all part of Apple Inc.’s general strategy and growth plans. Generative strategies, defined by Michael E. Porter, describe how a firm may create its competitive advantages in the consumer electronics and information technology and services sectors (Grimes et al., 2019). Among the most valuable businesses in the world, Apple’s generic strategy is one of the most important determinants of competitive advantage versus other firms such as Walmart’s Vudu and Walmart’s content distribution service such as Samsung’s and Amazon’s Kindle Fire. On the other side, the Matrix of growth strategies developed by Igor Ansoff shows how a technological company might aggressively expand into existing or new markets and sectors. Because of Apple’s aggressive expansion plans, the company stands to benefit from its dominant position in the worldwide market. Even with its relatively high selling prices, the company thrives due to its high pace of innovation and concentration on excellent product design. In achieving this position, Apple has shown the efficacy of both its general strategy for competitive advantage and its intensive plans for company development.
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Market Development |
The firm has a significant strategic option in terms of market expansion since they may build a new market sector for their product, which will result in the creation of a new product in the process. Sales will increase as a result of increased customer interest in trying out the new product (Tien, 2019). Apple has earned a reputation for creating high-quality products that captivate its customers. A firm may effectively target new clients or convert potential customers by using this strategy, making it a valuable choice for the organisation. |
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Penetration of Market |
A company’s customer retention plan is an essential factor to consider when analysing its market penetration strategy. According to reports, the corporation has a market penetration of around 19 percent of the total (Li and Miao, 2020). Despite the fact that the Airtags concept has been around for quite some time, the company has had difficulties in developing it, which is a major cause for this. It also acts as a feasible technique of delivering the items to the end customer, as previously stated. |
In order to achieve marketing penetration in the target market, it is necessary for the organisation to examine all of the available possibilities. Because of this, you will get more recommendations from current customers and your brand will be exposed to a greater number of prospective consumers. The competitive pressure on the organisation is lowered as a result of the increasing market competitiveness of the organisation. Focusing on the feasibility of market development might assist a firm in converting prospective consumers into paying customers (Fan et al., 2020). Additionally, it assists the organisation in earning more money and growing greatly inside a certain sector. Furthermore, it provides the organisation with a considerable competitive edge. As far as project development and marketing strategy are concerned, this is a beneficial development for the organisation since it helps them to achieve the objectives that they set for themselves in the first place (Fan et al., 2020). The firm will make use of the strategic choices available to them in order to gain a competitive advantage.
It is one of the primary outputs of the risk framing component of the NIST Risk Management process, and it is called the risk management plan. This plan is often established at the organisational level, and it specifies the procedures and strategies that will be used in evaluating, reacting to, and monitoring risk (Jeger et al., 2018). A risk management strategy for an organisation comprises a list of assumptions and constraints regarding the risks that the company confronts, as well as a prioritised list of risks that are acceptable or unacceptable, as well as criteria for accepting or rejecting such risks. The identification and communication of the company’s risk tolerance are essential components of strategic risk management. Tolerance levels have an impact on all elements of risk management, including financial risk management.
Apple’s major strengths and weaknesses were examined internally in the context of the industry in which the company works, and the results were published. A more precise definition would be “external impacts,” which are those that are outside of the control of a corporation. A range of methodologies, including SWOT analysis and PEST analysis were used to identify Apple’s advantages and weaknesses, as well as threats and opportunities, in the highly competitive market place (Shaari, 2019).
SWOT analysis
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Strengths |
As a result of Steve Jobs’ aggressive creativity and brilliance, Apple has become a household name. R&D spending at Apple has increased by $4.5 billion in 2013, $3.4 billion in 2012, and $2.4 billion in 2011 as a result of the company’s inventive culture (Chen et al., 2021). Apple’s 10K, an experienced sales force, contributed to the surge in sales. |
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Weaknesses |
Even though Apple’s approach for marketing its direct sales channels has been regarded excellent, the company’s own direct sales channels are still falling behind their competitors’ efforts. 13 nations are directly sold by the company (Chen et al., 2021). Due to their combined sales making up the bulk of Apple’s income, the iPhone and iPod are also a vulnerability. In contrast, its competition’ products are Android, which does not have similar restrictions, making them easier to operate. In addition, the company’s products have been categorised as luxury goods because of their high price. |
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Opportunities |
Apple has long been regarded as the technical apex of the pyramid. Quality and cutting-edge technology are unrivalled when it comes to client service. A whopping 92% of their customers remain loyal to them year after year (Chen et al., 2021). If the internet persists, Apple will always have new methods to engage with consumers and partners. Apple’s team of researchers, developers, and product professionals is built around consumer product branding gurus. |
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Threats |
Apple has long been regarded as the pinnacle of the technological pyramid, having existed from the beginning of time. We provide superior client service that is unmatched in terms of quality and cutting-edge technological innovation (Chen et al., 2021). Almost all of their clientele are committed to working with them for the long term. If the internet continues to exist, Apple will always be able to come up with new methods to communicate with consumers and partners. |
PEST Analysis
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Political |
A huge number of contract suppliers, particularly in Asia, makes Apple Inc. exposed to political issues. An important part of Apple’s income comes from markets outside of the United States. In the event of political unrest, Apple is undoubtedly put in jeopardy. Apple has also lately been the target of political criticism over supply-chain worker difficulties (Van De Vliert, 2021). There have been reports of suicides at Foxconn, one of Apple’s largest suppliers, and the company has been blamed for the mental health issues of its employees. Two workers were killed and sixteen others were injured in a May 2010 explosion at an Apple supplier factory. |
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Economical |
As the world’s most developed economies, including the United States, Japan, and Europe, were and are still recuperating from the global crisis, Apple felt the heat. In addition, global economic expansion grew slowly in 2012 and was predicted to continue doing so in 2013 and 2014 (Van De Vliert, 2021). The crisis has had an impact on Apple. Sales in the United States increased by 9 percent in 2012-13, Europe by 4 percent in 2012-13, and China by 13 percent in 2012-13 compared to 2011-12. During 2012-2013, the unemployment rate in the United States was 7.9 percent; in China, it was 4.1 percent; and in Japan, it was 4.6 percent. |
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Social |
Since the company’s inception, Apple has made several tweaks to its products in order to meet and exceed the expectations of its consumers. To this end, it has made several acquisitions and strategic agreements, including those with Embark, Prime Sense, and Topsy, as well as others like Sony, Motorola, Phillips, and AT&T (Van De Vliert, 2021). Apple’s sales in India surged significantly in 2013, prompting the company to build franchises and make investments in the country, demonstrating that the company has a clear development plan. |
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Technological |
Organizations who have taken the initiative to stay ahead of the curve have found success in information technology. Apple takes a hard-nosed attitude to innovation in the consumer electronics market and is a trailblazer (Van De Vliert, 2021). Using cutting-edge technology, it was able to retain 49% of its customers while acquiring 20% of them for the iOS platform in 2012-13. Because to the shattered agreement with China Mobile, Apple now enjoys a huge competitive edge in the world’s fastest-growing market. |
The most important and fundamental instrument for assessing the strategic plan’s efficacy is a SWOT analysis, which identifies the company’s strengths, weaknesses, opportunities, and threats (Oztemel and Gursev, 2020). A balanced scorecard may be used by the organisation to identify and improve its operations. Basic sales monitoring tools may also be used by the company to assess the reaction to strategic initiatives. Customers’ digital footprints might also be an important element in resolving this problem.
Consumers and prospective customers are the primary goals of a strategic plan, which is why it is important to have a well-thought-out strategy. The company’s aim of making the product marketable will be furthered by the strategic strategy (Galli and Kaviani, 2018). In addition, the strategy has an effect on the companies since it helps them develop and earn more money. It instils a firm feeling of direction in the organisation by encouraging proactive behaviour. In addition, it makes the company more resilient.
It is possible to provide a few suggestions for the company’s strategic plan, the most important of which is to place a strong emphasis on the company’s development prospects. Effectively handle strategic concerns will help strengthen the strategy and get board members on board with it. The research presented above shows that critical examination of several areas of the company is offered in depth.
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