Apple Inc.'s success as one of the most recognized and trusted businesses in the world is built upon its vision and mission statements. Since it was founded on April 1, 1976, the organization has become a pioneer in incorporating change, cutting-edge technology, and aesthetically pleasing design.
Apple's corporate vision and missions statements have evolved over time as well. This change reflects the development of the organization, beginning with the leadership of Steve Jobs, to that of current CEO Tim Cook. As a company, Jobs saw Apple products as a .tool to improve the quality of life, while today Apple sees its products, not as a tool, but a reason for its existence. Regarding this, Investopedia summarized, Although his [Jobs] attention to detail has become an essential part of his legacy, it was a means to a higher end (2018). CHECKcitation format Through its vision and missions statements, the organization seeks to advance its growth despite the competition.
Apple outlines its competitive approach via its missions statement. By considering the evolving business outlook, the organization emphasizes its commitment to producing the highest quality of hardware, software, and application systems. Its current corporate mission statement identifies Apple's intention to be the best, lead the way, reinvent that which must be reinvented and to define the future of mobile media and computing devices (Rowland, 2018).
The organization emphasizes its continued commitment to the development of quality leadership in such areas as technology, cloud computing, and consumer electronics. Its vision statement plays a direct role in many of the business decisions throughout the organization. Current CEO, Tim Cook, introduced Apple's current corporate visions statement which borrows consistency from its mission statement and adds value of its own. In part and summary, Apple's vision allows for focus and excellence. We believe in saying no to thousands of projects, so that we can truly focus on the few that are truly important and meaningful to us (Rowland, 2018).
The following SWOT analysis captures the key strengths and weakness for Apple Inc. and describes the opportunities and threats for the organization.
Apple designs and develops its own software, hardware and applications. This affords the company the opportunity to offer exclusive, cutting-edge, solutions to their customers which are easy to use.
Apple products are not competitively priced. One of the main weaknesses associated with the Apple brand is the hefty price tag. The prices for the products and services offered by the company are much higher when compared to its competition.
As a leader and innovator in the smartphone industry, Apple has the potential to develop faster processors and user-friendly applications geared towards their older segments.
Samsung is Apple's biggest competitor in the market and offers the consumer an alternative they are seeking – which is a cheaper smartphone. Samsung offers its Android version of the smartphone with similar applications .and a long-lasting battery (Frue, 2018).
With the iPhone accounting for more than 60 percent of Apple's revenue in 2017, there are concerns about how Apple will manage any reduction in sales. However, Apple CEO Tim Cook is looking towards growth opportunities offered by other services (Haslam, 2018).
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