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Innovation and Technology Management - Essay Example

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The main idea of this study is to analyze Apple Company. The paper is a comprehensive approach to understanding the growth and success of Apple in the past 30 years. The company has a very interesting past consisting of numerous ups and downs…
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Innovation and Technology Management
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Download file to see previous pages Apple is a multinational corporation which was founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne. However, Wayne left within some period while Jobs and Wozniak continued in the business. The vision of Jobs and Wozniak was to develop a user-friendly computer device and change consumers’ perception regarding computer. Wozniak developed the first computer of Apple, Apple I which however did not gain much recognition. Wozniak and Jobs introduced Apple II in 1978, which was a revolutionary move as they developed color graphics for the first time. Sale of the device grew from $7.8 million in 1978 to $117 million in 1980. Apple raised its first IPO (Initial Public Offerings) in 1980 and started trading as a public company (Mac World, 2014).
In 1983, Wozniak left the company due to diminishing interest in Apple’s daily operations. In 1984, Apple developed the Macintosh which was a huge success in the consumer market. After this brief success, the power struggle among executive members of the organization resulted in the departure of Steve Jobs. Absence of guidance from prominent leaders resulted in declining market share and financial problems in the firm. Steve Jobs returned as interim CEO in 1997 after Apple purchased his company, neXT. During the late 1990s, the expert suggested that Apple should shut down and pay off its shareholders, but Jobs brought in the turning point of the company by inducing the iMac. Following iMac, iPod was introduced in 2001 while the iPhone was unveiled in 2007. In 2008, Wal-Mart’s online music store faced stiff competition from the iTunes store. In 2010, the technological innovation at Apple moved a step ahead with the entry of the iPad (Terrell, 2008; Mac World, 2014).
In 2011, the death of Steve Jobs left Apple seeking direction and leadership. The company selected the former COO (Chief operating officer) of the company, Tim Cook as its new CEO. This move was considered viable from logical as well as strategic perspectives are given Cook’s experience in the organization (Apple, 2014a). ...Download file to see next pagesRead More
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