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Shared Practice: Why Do You Think Business Strategies Succeed or Fail - Assignment Example

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This is because of the numerous theoretical concepts, schools of thought, and frameworks that have been developed on how businesses can grow or success. In…
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Shared Practice: Why Do You Think Business Strategies Succeed or Fail
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School: Topic: Shared Practice: WHY DO YOU THINK BUSINESS STRATEGIES SUCCEED OR FAIL Lecturer: From a more theoretical perspective, it can be argued that to succeed or fail as a business is a matter of choice. This is because of the numerous theoretical concepts, schools of thought, and frameworks that have been developed on how businesses can grow or success. In principle, by simply applying some of these principles, one would be expected to succeed in his business endeavour. Unfortunately, this has not always been the case as it will be difficult to think of a company that strategically plans to fail. Indeed all companies that fail might have been doing something wrong but that cannot be said to be their primary motive. Using Apple Corporation as an example, it can be said that companies succeed simply by doing the same thing that other companies do differently (Zenger, 2013). That is, there are business principles and theories on how to succeed but Apple Corporation do not just apply these but apply them in a much different way. This is what makes innovation at all levels of their operations a hallmark of the company.
As noted in the Forbes Blog on why businesses fail, companies that do not understand the environment or focusing on results are likely to fail. This is however a kind of understanding that Apple Corporation has, knowing the kind of competitive environment in which it operates. There is no denying the fact that the information technology (IT) industry is one of the fastest growing in the world currently. However, because there are several competitors most of who have significant competitive advantage to do business, no industry player can expect to be in the competition without understanding the environment and or focusing on results and expect to succeed (Wolfe, 2011). Invariably, Apple Corporation leaves no stone unturned in terms of what its competitors are capable of doing and so rely on business innovation as a distinctive business model for gaining competitive advantage. Indeed Apple Corporation can be praised for a type of business innovative model that spans around all aspects of its business operations including human capital development, marketing, sales, and research (Kotelnikov, 2015).
What is more, the blog makes mention of unwillingness or inability to change. With the kind of business industry in which Apple Corporation finds itself, change is indeed a word that is inevitable for growth to happen. This is because the market needs and demands of consumers of various IT products continue to change by the day. As these changes occur, the most advantageous companies that can think of growth are those who are willing to also change. But thanks to their innovative business model, changing their way of doing things and the products they present to customers is not something that is difficult for Apple Corporation to do at (Kotelnikov, 2015). This means that the company also embraces market realities as it knows success is not possible without change. Lastly, leadership is a major issue at Apple Corporation. Zenger (2013) stressed that leadership is the bedrock of any successful business. Since the days of their iconic leader, Steve Jobs, Apple Corporation has strived to make leadership something that brings together the overall aspirations and desires of the company to either be the first or with the first.
References
Kotelnikov, V. (2015). Apple’s Systemic Approach To Innovation. Retrieved June 30, 2015 from http://www.innovarsity.com/coach/bp_innovation_strategies_apple.html
Wolfe, N. (2011). The living organization: Transforming business to create extraordinary results. Irvine, CA: Quantum Leaders Publishing.
Zenger, T. (2013). What is the theory of your firm? Harvard Business Review, 91(6), 7278. Read More
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