Strategic Management and Strategic Competitiveness Essay
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53563633773 |
Type |
Essay |
Writer Level |
Masters |
Style |
APA |
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4 |
Perfect Number of Pages to Order |
5-10 Pages |
Description/Paper Instructions
Strategic Management and Strategic Competitiveness Essay
Strategic, Management, Strategic, Competitiveness, Essay
How Globalization and Technology Have Impacted Apple Inc.
Apple is ranked as the most profitable company in the United States and as one of the most profitable in the world. The company is ranked third on the Fortune 500 list with a profit change of approximately 23% and over 130,000 employees across the world (“Apple,” 2019). The company has had several impacts as a result of globalization effects as well as the incorporation of modern technology into the production process.
The United States is the largest consumer of Apple products. However, the production and assembling process of Apple products takes place in China where the raw materials needed for production are cheaper as well as there is a huge presence of cheap and easily available labour. Due to globalization, the company has made several reliable partnerships across the world, such as the deal with FedEx that allows FedEx to quickly move Apple products from one location to another.
This way, the supply chain of the organization has been greatly improved. Apple has been able to control a significant share of the American, Asian and European markets because globalization and use of improved technology have made it possible for the organization to apply a unique product differentiation strategy which allows Apple products to remain unique in the market (“AAPL – Apple Inc company profile – CNNMoney.com,” n.d.).
Globalization has enabled the Fortune 500 Company to efficiently produce at optimum levels while at the same time increasing the number of staff. New production methods and technology is being tested to determine whether Apple products will satisfy the needs of the average customer.
The adoption of new technology makes the production process to be faster, more efficient and environmentally friendly. Through technological changes and globalization effects, the quality of products and services being offered has increased. The company has to improve the quality of products and services as a way of attracting new customers while at the same time maintaining the already existing ones.
Customers often go for products that will satisfy their needs and more often than not, high-quality products and services usually meet the customer’s needs. By using technology, the production process has been made more efficient, and as a result, there is less wastage of any resources.
The company is, therefore, able to save more on the production process and charge highly for the final products. This translates into high revenue streams for the various different products being sold in the market.
The Industrial Organization Model and The Resource-Based Model
Both the resource-based model and the industrial model can help Apple Inc. to increases its revenue margins annually. Under the economic theory of the industrial model, Apple will be able to successfully conduct its operations and earn profits that are above average.
The management of the company has a clear understanding of the general industry, the competitive environment, as well as the assets and skills of the organization. It is also vital that the management of the company to have excellent strategy implementation skills that will ensure that the company grows financially by minimizing costs and maximizing output revenue streams.
On the other hand, the resource-based model analyzes organizational resources and the critical role that they play in facilitating the success of a company. The resource-based model looks at how the resources available to a company, case in point Apple, can be used to give the company a competitive advantage that is sustainable in the future.
Through continued innovative research, the company has been able to maintain its brand as well as enjoy continued brand loyalty from its customer base. By having a unique product in the market as well as having a competitive advantage over its competitors, Apple has continued to enjoy above-normal profits over the past five years with a profit change margin of approximately 23% (Marketing, 2019).
The Vision and Mission Statements of the Company
The mission and vision statements of any business organization are crucial elements that have the ability to influence the overall success of the business organization. Apple’s mission statement has been changed several over the years as a way of adapting to the business environment of the company.
Also, changes in the market structure, as well as the technological industry influence, have influenced how the company’s mission statement has evolved. Apple’s mission statement motivates and encourages to uphold and to make meaningful contributions to the goals of the company.
The vision statement, on the other hand, influences the strategic management during the decision making process in an effort to attain an envisioned future. The company mission and vision statement help in the formulation of the company’s objectives and goals.
Apple Inc. has always updated its mission and vision statements as a way of adapting to the changes in the market. The company has therefore been able to enjoy a good public image because the vision and mission statements communicate to the consumers what the company wants to achieve.
Apple Stakeholder Groups
Apple Inc. has various stakeholder groups that play a significant role in ensuring that the organization succeeds. The stakeholder groups include customers, company employees, suppliers and distributors, investors and the entertainment industry.
- Customers- they form the largest stakeholder group of the company and are therefore given priority over other stakeholders when decisions are being made during strategic management meetings. Customers play an important role in ensuring that the company succeeds by purchasing the products being produced by the company (“Site map,” n.d.).
- Company employees- Apple’s employees, are well compensated and take care of by the company because they form the second-largest stakeholder group after the customers. They play an important role in ensuring that the production process keeps going on so that there are unique and high-quality products available to sale. Such employees include retail personnel, software developers and R&D engineers (“Site map,” n.d.).
iii. Investors- Investors always look for a place where they can get returns for their input. At Apple, the investors finance research programs as well as opening new outlets in new markets. This is why Apple has remained to be one of the most profitable business entity’s in the world because it has a large financial base with cautious investors (“Site map,” n.d.).
- Distributors and suppliers- quick and efficient product shipment and delivery help in customer retention as well as a good public image which increases the levels of organizational success (“Site map,” n.d.).
- The music industry- iTunes has been able to bring in a new revenue stream that has boosted profit levels by a significant margin. All those customers who play music using Apple products are required to use iTunes, and this has been greatly promoted by music artists as a lucrative partnership between the company and the musicians.
Conclusion
Increased demand for better technology in Apple products will lead to the production of innovating gadgets that will give the company the competitive edge it needs to stay ahead of its competitors. The firm’s strategic management and competitiveness are crucial in determining the organization’s future. By following the vision and mission statements, the company is assured of success.
References
AAPL – Apple Inc company profile – CNNMoney.com. (n.d.). Business News – Latest Headlines on CNN Business – CNN. https://money.cnn.com/quote/profile/profile.html?symb=AAPL
Apple. (2019, May 15). Fortune. https://fortune.com/fortune500/2019/apple/
Marketing, T. (2019, September 29). Have you ever read about Apple’s core values? Think Marketing. https://thinkmarketingmagazine.com/apple-core-values/
Site map. (n.d.). Apple. https://www.apple.com/sitemap/
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Content (worth a maximum of 50% of the total points) |
Zero points: Student failed to submit the final paper. |
20 points out of 50: The essay illustrates poor understanding of the relevant material by failing to address or incorrectly addressing the relevant content; failing to identify or inaccurately explaining/defining key concepts/ideas; ignoring or incorrectly explaining key points/claims and the reasoning behind them; and/or incorrectly or inappropriately using terminology; and elements of the response are lacking. |
30 points out of 50: The essay illustrates a rudimentary understanding of the relevant material by mentioning but not full explaining the relevant content; identifying some of the key concepts/ideas though failing to fully or accurately explain many of them; using terminology, though sometimes inaccurately or inappropriately; and/or incorporating some key claims/points but failing to explain the reasoning behind them or doing so inaccurately. Elements of the required response may also be lacking. |
40 points out of 50: The essay illustrates solid understanding of the relevant material by correctly addressing most of the relevant content; identifying and explaining most of the key concepts/ideas; using correct terminology; explaining the reasoning behind most of the key points/claims; and/or where necessary or useful, substantiating some points with accurate examples. The answer is complete. |
50 points: The essay illustrates exemplary understanding of the relevant material by thoroughly and correctly addressing the relevant content; identifying and explaining all of the key concepts/ideas; using correct terminology explaining the reasoning behind key points/claims and substantiating, as necessary/useful, points with several accurate and illuminating examples. No aspects of the required answer are missing. |
Use of Sources (worth a maximum of 20% of the total points). |
Zero points: Student failed to include citations and/or references. Or the student failed to submit a final paper. |
5 out 20 points: Sources are seldom cited to support statements and/or format of citations are not recognizable as APA 6th Edition format. There are major errors in the formation of the references and citations. And/or there is a major reliance on highly questionable. The Student fails to provide an adequate synthesis of research collected for the paper. |
10 out 20 points: References to scholarly sources are occasionally given; many statements seem unsubstantiated. Frequent errors in APA 6th Edition format, leaving the reader confused about the source of the information. There are significant errors of the formation in the references and citations. And/or there is a significant use of highly questionable sources. |
15 out 20 points: Credible Scholarly sources are used effectively support claims and are, for the most part, clear and fairly represented. APA 6th Edition is used with only a few minor errors. There are minor errors in reference and/or citations. And/or there is some use of questionable sources. |
20 points: Credible scholarly sources are used to give compelling evidence to support claims and are clearly and fairly represented. APA 6th Edition format is used accurately and consistently. The student uses above the maximum required references in the development of the assignment. |
Grammar (worth maximum of 20% of total points) |
Zero points: Student failed to submit the final paper. |
5 points out of 20: The paper does not communicate ideas/points clearly due to inappropriate use of terminology and vague language; thoughts and sentences are disjointed or incomprehensible; organization lacking; and/or numerous grammatical, spelling/punctuation errors |
10 points out 20: The paper is often unclear and difficult to follow due to some inappropriate terminology and/or vague language; ideas may be fragmented, wandering and/or repetitive; poor organization; and/or some grammatical, spelling, punctuation errors |
15 points out of 20: The paper is mostly clear as a result of appropriate use of terminology and minimal vagueness; no tangents and no repetition; fairly good organization; almost perfect grammar, spelling, punctuation, and word usage. |
20 points: The paper is clear, concise, and a pleasure to read as a result of appropriate and precise use of terminology; total coherence of thoughts and presentation and logical organization; and the essay is error free. |
Structure of the Paper (worth 10% of total points) |
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3 points out of 10: Student needs to develop better formatting skills. The paper omits significant structural elements required for and APA 6th edition paper. Formatting of the paper has major flaws. The paper does not conform to APA 6th edition requirements whatsoever. |
5 points out of 10: Appearance of final paper demonstrates the student’s limited ability to format the paper. There are significant errors in formatting and/or the total omission of major components of an APA 6th edition paper. They can include the omission of the cover page, abstract, and page numbers. Additionally the page has major formatting issues with spacing or paragraph formation. Font size might not conform to size requirements. The student also significantly writes too large or too short of and paper |
7 points out of 10: Research paper presents an above-average use of formatting skills. The paper has slight errors within the paper. This can include small errors or omissions with the cover page, abstract, page number, and headers. There could be also slight formatting issues with the document spacing or the font Additionally the paper might slightly exceed or undershoot the specific number of required written pages for the assignment. |
10 points: Student provides a high-caliber, formatted paper. This includes an APA 6th edition cover page, abstract, page number, headers and is double spaced in 12’ Times Roman Font. Additionally, the paper conforms to the specific number of required written pages and neither goes over or under the specified length of the paper. |
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