Apple Company Mission, Vision, Strategy and Information on Various Perspectives - Case Study Example

Corporate Venturing Client Inserts His/her Name Client Inserts Grade Course Client Inserts Tutor’s Name 23/08/2012 Table of Contents Introduction 3 Apple Company Mission, Vision, Strategy and Information on Various Perspectives 4 Apple Inc. Information on Financial Performance, Marketing, Internal Operations and Systems 5 Objectives to Improve Apple Financial Performance 7 Meaningful Measures for the Objectives 7 Target for Each Objective 7 Successful Actions to Be Implemented 7 Appendix 10 Introduction To begin with, in any business field for realization of the business goal requires that there should be strategies which should lead the business venture to run. We can talk of strategic management and increased levels of innovation in increasing the manner through which better services and business opportunities can be realized (Grant 2002). This is where we talk about successful entrepreneurship. We can talk of entrepreneurship as the strategy that is used for innovation stimulation by making sure that the available entrepreneurial opportunities and talents are put into good use. With the right form of implementation, entrepreneurship will bring about innovation as well as helping the working personnel with creative ideas in fostering corporate growth. Many successful companies have witnessed increased growth due to use of the right entrepreneur techniques (Duening, Robert & Michael 2009). We take Apple as an example of a company that has engaged itself in corporate venture and use its strategies as a case study for successful corporate venturing as a form of entrepreneurship. Apple has been identified through its history to make strategic acquisitions in order get improvements in their production line. We can talk of the company’s desire to buy Roxio besides the negotiation to fuelling the cell development. For corporate venture purposes this becomes a big picture strategic purchase for Apple which will increase its level of entrepreneurship. On the other hand, another form of corporate venture that has been employed by Apple is the building developer incentives to help the little guys market. Below is an example of the success story that has been identical to Apple due to its successful entrepreneur plan. Apple Company Mission, Vision, Strategy and Information on Various Perspectives An organization mission is the overall focus on the business an organization performs in terms of core values and principles. The vision on the other hand defines the organization desired future to those who accept and understand it. Apple Inc. as a leader in the innovation sector has a mission statement that is built from a quote by its founder Steve Jobs which states that man is the creator of change in the world. The mission statement is to design Macs, best personal computers in the world, along with OS X, ilife, iwork, and professional software. It leads the digital music revolution with iTunes and iPods. The company has reinvented the mobile phone with revolutionary iPhone and App Store and is defining the future of mobile media and computing devices with iPad. The vision statement is Apple commitment to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and internet offering. The overall strategy of Apple Inc. is the delivery of strong products and creation of an Apple culture aimed at achieving customer loyalty. (James 2005). Apple Inc. Information on Financial Performance, Marketing, Internal Operations and Systems Using Apple Inc., The report will access information on financial data, marketing and customer relations, information systems, staffing and human resource. Apple marketing and customer relations are the major backbone as a market leader in innovation. The company marketing strategies that are aimed at putting the customer first in designing and delivering products. Its products are self-made with attractive look that are customer appealing. Its marketing is also made possible through various adverting campaigns and trade expos. In its most recent financial data release in March 2012 the company quarterly revenue of $ 39.2 billion with a net profit of $11.6 billion. This is a positive increase from last year quarterly report of$24.7 billion revenue and a net profit of $ 6.0 billion. On the company staffing and human resource systems it provides a solid pay structure and benefits which goes along with outstanding short –term and long term stock performance. The company is able to transform great ideas into great products through talented, diverse and innovation focused staff. Internal and management systems at Apple Inc. are achieved through a flat organization structure aligned with functional roles which makes it easier for control and focus on the organization core activities. Due to its global presence and different electrical domains the information systems at Apple are focused at making information available to people at all times. (Apple Inc.com 2012) Balanced score card is a way to clarify and simply operationalize a company mission by focusing on various measures that are critical to the success of an organization. Balanced score card therefore focuses on a company financial data, customer relations, internal process, growth and learning. The Apple Company quarterly reports can help the company managers to make fundamental improvements that will be important for the financial health of the company. The customer information on the balanced score card can help Apple Inc. to maintain its brand loyalty through maintain existing customer loyalty. Apple internal processes help it to identify processes and operations that are critical to success. The company can use the measure on internal business and innovation to identify critical internal business processes and operations. As a market leader the company must ensure continuous everyday learning and growth to provide innovative products and services that are in line with customer tastes (Mystrategicplan.com 2012). A mission statement outlines an organization core purpose and provides a basis for its vision. When developing mission statements most organizations take into consideration financial focus .Apple Company being a technology organization must therefore base its mission and strategies on financial performance. The company focuses on customer satisfaction through innovative products and services while at the same time must ensure an improvement in financial results. I t is only by being financially secure that the company is able to achieve its mission of providing innovative products to customers while at the same time remain within established strategies (epmreview.com 2012). The mission statement of Apple Company is mainly based on the variety of products that the company designs and on the perspective of financial operations the delivery of these products should ensure the following: the company must ensure it creates value to its stakeholders in the process of delivering the products in its mission. Its financial perspective thus focuses on objectives and measures that will ensure maximum stakeholder value. I have identified three objectives to improve Apple financial performance (epmreview.com 2012). Objectives to Improve Apple Financial Performance Objective 1: increase capacity for enabling technology-this relates to the company products in its mission and its vision of being the best computing company. Objective 2: Improve project management expertise in Apple-this fastens the communication and actual action on mission and vision through efficiency. Objective 3: Improve cross discipline teamwork-this ensures that every action is aimed and focused on the vision and strategies and not on personal interests. Meaningful Measures for the Objectives Measure1: Customer perspective to maximize satisfaction. Measure2: Internal process perspective. Measure3: Learning and growth. Target for Each Objective Target1: Continually lead in identification of technology. Target2: To always define a clear path through analysis of results and expectations. Target3: To develop effective cross functional teams in Apple. Successful Actions to Be Implemented Action 1: University partnerships, industry consultation and recruitment of experts. Action 2: Encouragement of the team to create motivation thus ensuring adjustments are taken positively. Action 3: training staff on how to develop strong and collaborative teams that are focused on growth. Objective Measure Target Action 1. Increase enabling technology 2. Improve project management expertise. 3. Improve cross team work discipline. Customer perspective to maximize profits Internal process perspective Learning and growth To have continuous technology improvement To always define clear path through result analysis. To develop effective teams at apple Partner and consult Motivation of Apple teams. Train staff on developing collaborative teams. With the above case study, we can understand what successful entrepreneurship entails and the success that comes with it. This has led to the growth of the company and has over time increased the company’s fanfare globally. List of References Apple Inc.com 2012, Apple Overview, Retrieved from http://investor.apple.com/ Duening, N, Robert D, & Michael A 2009, Technology Entrepreneurship, Academic Press. Epmreview.com 2012, Financial Perspective, Retrieved from http://www.epmreview.com/Resources/Articles/Delivering-shareholder-value-growing-revenue-and-enhancing-productivity.html Global Corporate Venturing, September 2010, retrieved from: http://www.globalcorporateventuring.com/pages/september-2010.html?handle=september-2010.html Grant, M 2002, Contemporary Strategy Analysis. New Jersey: Wiley-Blackwell. James A .P 2005, Integrating Mission AND strategy For Non-profit Organizations, Oxford University Press Publishers. Lundström, A & Stevenson, L 2005, Entrepreneurship Policy: Theory and Practice, Springer. Mystrategicplan.com 2012, Balanced Scorecard: Performance Measurements for Success, Retrieved from http://www.mystrategicplan.com/strategic-planning-topics/balanced-scorecard.shtml Appendix Chapter Page A. Introduction.......................................................................................................2 B. Apple Company Mission, Vision, Strategy and Information on Various Perspectives..4 C. Apple Inc. Information on Financial Performance, Marketing, Internal Operations and Systems............................................................................................................................4 D. Objectives to Improve Apple Financial Performance.....................................................6 E. Successful Actions to Be Implemented...........................................................................7 F. List of References..............................................................................................8 Read More