Successful Company or Business
Apple Inc. is among successful and valuable brands across the globe and technology industry. The success of the Cupertino-based technology multinational is attributed to several factors, key among these being sound and visionary leadership of its founders, both Steve Jobs and Steve Wozniak. Right from its initial product, Apple Computer in 1976 to its iconic iPhone and iPad brands as well as the Macintosh operating system, this technology company has consistently moved forward (Lee, 2015). The visionary leadership of the founder and former CEO, Steve Jobs, is one of the critical success factors for the company.
Apple’s History
Apple was founded in 1976 when three engineers joined hands to develop a personal computer for businesses and individuals. These individuals included two Jobs and Wozniak, as well as Ronald Wayne. The three gentlemen wanted to develop and sell Wozniak’s personal computer called Apple I. Wayne sold his share in twelve days (Phillpott, 2019). The company was incorporated in 1977 as Apple Computers, Inc. Sales from its second-generation computer called Apple II rose steadily but quickly, and within a few years, the founders hired software designers and started a production facility. In 1980, Apple became a public company and started attaining financial success in its industry (Elgan, 2015). The organization began shipping new computer products with innovative graphical user interfaces like its original Macintosh in 1984. However, the high cost of computers, as well as limited application and managerial problems, affected the growth of the company.
Apple lost its share of the market to competitors in the 1990s before addressing the managerial problems that it faced. Jobs came back and regained the leadership role as the firm’s CEO in 2000. Through the “Thinking differently” model, Jobs rebuilt Apple’s position by launching new products like iMac and opening retail stores. Under Jobs’s leadership, Apple acquired other companies to increase their product portfolio (Lee, 2015). The company was renamed Apple Inc. In 2007 as a reflection of its shifting focus towards consumer electronics. The firm launched an iPhone to great success and followed it with other products that continue to define its iconic success and brand. Apple Inc. is one of the most valuable brands in the world and enjoys a significant market share for personal computing devices and software applications.
Success Strategies of Apple Inc.
The success strategies at Apple Inc. include visionary leadership under Steve Jobs as well as the current CEO Tim Cook. Steve Jobs remains posthumously one of the most recognized names in the technology world. Jobs place the company ahead in the manufacture of the personal computing revolution and is credited for a host of revolutionary and highly desirable products that include iPad, iPod, and iPhone.
Apple Inc.’s success is also due to the services it offers and brand loyalty (Phillpott, 2019). The company controls the market for high-end computing devices that translate into increased revenue streams for the organization (Elgan, 2015). Further, the success of Apple Inc. depends on its research and development strategies that allow it to develop products that meet consumer needs and preferences. More fundamentally, a growing Chinese market has enabled the organization to generate more revenues than expected since China is the biggest smartphone market in the world. Apple Inc.’s brand remains one of the most valuable.
Envisioning Apple 5 years from today
Apple Inc. will continue to define the technology industry and be a market leader for a host of software and hardware products. These include new generation iPhones, MacBook, and iPad, among other products. The company will continue to generate more revenue as it expands its market to emerging countries.
Lessons
Apple’s success demonstrates that visionary leadership is a critical success factor for an organization irrespective of its industry. Having a strategic vision with the right people leads to the success of an organization.
References
Phillpott, S. (2019). Apple’s Business Strategy: What Your Company Can Learn. Retrieved
from https://www.startingbusiness.com/blog/business-strategy-apple
Lee, T. B. (2015). How Apple became the world’s most valuable company. Retrieved from
https://www.vox.com/2014/11/17/18076360/apple
Elgan, M. (2015). Why Apple is the most successful company in history. Retrieved from
https://www.computerworld.com/article/2883747/why-apple-is-the-most-successful-company-in-history.html