Apple has witnessed benefits from globalization and technological advancements. Upon inception, Apple was identified as an American company, but as a result of globalization, it is now a multinational operation (Ren, Ramaswamy, Li, Yuan, & Ren, 2018). Moreover, the company heavily depends on its overseas market to make the desired sales, and only a third are from the American market. Additionally, resulting from globalization, the company has been identified to make significant sales in the emerging markets with many sales conducted in the Asia-Pacific regions. Apple greatly benefits form globalization as the company gets an opportunity to earn high profits with most of the products are quickly shipped through the supply chains at a low price and later sold at a high price.
Technology changes are one of the significant factors that affect Apple’s success (Ren, Ramaswamy, Li, Yuan, & Ren, 2018). The company has a substantial role in the marketing section with its preference to only target the high-income earners in the community. The capabilities identified with the development of personal technology devices have enabled the company to be recognized as one of the best mobile brands in the world. The company has stringent security features allowing the users to feel confident their data are well-protected while on the phones. The gadgets have large storage systems that will enable the users to store a lot of information without having to need additional hard drive storage, given the information is stored on the cloud (Ren, Ramaswamy, Li, Yuan, & Ren, 2018). Moreover, the company has now gotten into the production of fitness apparel, such as wrist bands that are considered to be very useful in the training fields.
Application on the industrial organization model and the resource-based model to determine how a corporation could earn above-average returns
The industrial organization model is an analysis of different factors and operations that plays a significant contribution to the company’s overall strategy and its product placement (Waldman, & Jensen, 2016). The industrial organization model has been applied to Apple structural model and can be highlighted based on the company operation. Regarding production differentiation, Apple has managed to provide high-end gadgets that are affordable for the high-income earners in the community. This enables the company to be associated with the elite class. Most of the products offered by Apple are of high quality, and this allows them to be identified as durable goods and experiences of the company.
The resource-based model theory makes an argument that companies posses’ resources which allows them to attain a competitive advantage (Barney, 2018). The ability of the company to use availed funds allows having superior long-term performances in the market. Apple VRIO will enable it to attain its desirable sustainable competitive goals. For instance, Apple is identified to have systems that enable rapid innovation, which is essential for a tech-oriented company. The company has a global presence that is critical to allow it to be considered as rare, valuable, and challenging. The company has vast resources that enable it to maintain a high rate of innovation, and the best staff are more senior to make some of the most executive products by the company. Apple enjoys cross-device compatibility among the products and accessibility, and this enables the customers to have a higher likelihood to make purchases of different products then link them. For example, a customer may prefer to purchase an iPhone and Mac Book.
How vision and mission statements of Apple influences its success
Apple’s mission is critical for the users to clearly understand its current operation as it emphasizes on the need to deliver highly innovative hardware, ensure there is best user experiences and the products offered are of high quality (Cortés-Sánchez, 2017). Therefore, Apple provides the customers are prioritized in the company designs to meet their needs and expectations. All the products are crafter beatifically with considerations made on the demands set by the consumers. Apple makes use of its high tech software that is needed to be integrated with the highly designed phones to give the customers a pleasant experience when using the phone. This is a fulfillment of the company intended to deliver an excellent user experienced that implies the need to have a high-quality buying experience.
Apple’s vision is identified to have critical elements such as a focus on innovation on the products, production of excellent products, the excellence of the products is the desired standards, there is focus on a few critical projects identified by the company and take control of technology given to Apple products. The stipulated vision statement allows the company to lay out its core believes, and they do not change over time; instead, they are used on the company life in different cycles (Cortés-Sánchez, 2017). The preference of the company is to deliver high value where the customers are given technology the works to meet their needs and preferences; they get an opportunity to think differently, and privacy is guaranteed on the use of the Apple products. Thus, the company is identified to focus on the production of excellent products through proper innovation by delivering high-quality products that are simple to use. Moreover, the company determined to own and control the primary technologies behind the products manufactured.
How Apple stakeholders impact their overall success
Apple’s success is guaranteed with its ability to satisfy its stakeholders and corporate social responsibilities (CSR) in different markets; it has been in operation. Stakeholders influence the company operation to guarantee its performances (Cortés-Sánchez, 2017). Therefore, Apple accounts for the stakeholders in its uniquely developed strategies and policies that affect the overall company performance. Apple customers are ranked as top stakeholders. To satisfy these stakeholders, Apple is keen to provide to them corporal social responsibility with an intent to meet the interests of the customers as the top stakeholders of the business. Moreover, the products are given as of high quality to the customers.
Employees are Apple valuable stakeholders; the company is keen to offer them excellent compensation packages and prominent career development. Employees are integral to Apple’s success as they can provide the needed human resource capabilities that are necessary to offer innovation and ensure the company develops profitable products. All Apples investors are registered to be interests in maximization on the returns of the investments. The company is identified as one of the wealthiest companies globally in the mobile application industry. To keep the investors comfortable, Apple has managed to avoid any form of debt and engages in CSR activities to meet the interest of the investors in their respective communities (Cortés-Sánchez, 2017). For the supply chain, Apple has provided the suppliers with a Supplier Code of Conduct, which allows the company to monitor and impose requirements on the employment practices of the company. Some of the issues discussed on the suppliers’ code of conduct are the labor hour relations, quality, and quantity of products delivered. Thus for the suppliers who are not able to meet the set code of conduct are requested to leave the chain.