Apple Inc.’s Corporate Strategy
Apple Inc.’s Corporate Strategy
A corporate strategy entails a unique framework that is usually long-term, created with the sole aim of obtaining a competitive edge over business rivals while simultaneously offering top-notch products and services to the target market and adhering to stakeholder interests (Feldman, 2020). There exist three primary corporate strategy types. The first entails the growth strategy. Such a strategy happens when the business enterprise either expands its target market or increases the number of products it offers to the market. The business might also augment its revenue, workforce number, or market share. Another key strategy is the stability strategy. Such a strategy occurs when the business enterprise does not institute any considerable change and thus keeps on doing what it currently does. This ensures the organization remains stagnant, with its growth neither rising nor declining. The final one is the renewal strategy. Such a strategy is necessitated in instances whereby there is a deterioration in a business enterprise’s performance (Feldman, 2020). This forces managers to formulate new strategies that would enable the business to thrive. Two key renewal strategy types include turnaround and retrenchment strategies. The latter is often used in the short term for slight problems, while the former is often used for drastic business concerns. Regardless, the two strategies necessitate cost-cutting and reformation of organizational necessities. Apple Inc. is one of the top corporations whose corporate strategy has been revered globally as it has contributed to its overall success. The corporation is among the most influential technological organizations globally (Apple Inc., 2021). This paper discusses Apple inc.’s corporate strategy considering its products and how they support the strategy.
Product Lines and Newest Products
A product line entails a collection of associated products advertised and promoted using a single brand name within the business enterprise. Corporations often sell numerous product lines based on their multiple brand names focusing on differentiating one brand from the next to ensure improved usability for the customers. Besides, business enterprises regularly increase their offerings by supplementing the current product lines since consumers are more inclined to buy products from brands that they are conversant with. Therefore, Apple Inc. has four key product lines. The first product line is the iPhone. This entails the corporation’s smartphone line using the “iOS operating system.” The first iPhone was launched by Apple Inc’s previous CEO “Steve Jobs” way back in 2007. This would usher in a series of game-changing smartphones that captured the world’s attention (Washington, 2020). Eleven years after the first iPhone was introduced, over two billion iPhones were sold worldwide. Besides, this product line is among the most powerful smartphone platforms in conjunction with Android, thus forming a significant chunk of what is referred to as the “luxury market.” The product line has produced significant profits for the corporation ensuring Apple Inc. exists in the world’s top publicly traded firms. The first iPhone was considered revolutionary as it created a path for successive models recognized for promoting the smartphone industry while simultaneously establishing a vast market for smartphone applications. By 2017, the App Store in Apple phones had over two million iPhone applications (Apple Inc., 2021). Over the years, some of the iPhone models have included the iPhone 3, iPhone 4, to iPhone 11, with the models being slightly different depending on whether it is an iPhone Plus, Pro, or Max. The second product line is the Mac.
The Mac entails the company’s product line of PCs (Personal Computers), which utilize the “macOS operating system” (Washington, 2020). Based on a bit of history in this product, the Mac product line was initially referred to as the Macintosh when first launched in the 1980s. All the PCs under the Macintosh brand were designed, produced, and marketed by the Apple Corporation. However, in 1998, the company decided to change its name from Macintosh to Mac, thus shortening it. The first Macintosh product entails the primary successful desktop PC that contained a mouse, screen (built-in), and “graphical user interface.” The company sold the Macintosh PC with its other computers, including the Apple II and III, until they became obsolete, leaving only the Macintosh product line. Over the years, numerous Mac products have been established, including the MacBook Air, MacBook Pro 13-in and 16-in, iMac Pro and 21.5-in, and finally, the Mac mini and Pro (Apple Inc., 2021). All these products within the product line vary depending on the model number and the extra features added. Another key product line By Apple Inc is the iPad. The iPad entails Apple Inc’s multi-purpose tablet line that uses the “iPadOS operating system” (Washington, 2020). Other iPad versions also run using iOS. It is worth noting that the first iPad was launched in 2010, and ten years later, Apple Corporation had sold over half a billion iPads, with the sales only starting to pick from 2013 onwards. It is among the world’s most renowned tablet computers based on the revenue the product line generates. The iPads are most useful in web functions and other activities such as playing music, games