Case Study : Apple Inc. Essay

2064 Words Dec 14th, 2014 9 Pages
The modern world of business is characterized by rapidly growing competition in nearly every industry, and hence the success of every business depends on how well it develops strategies for the production and delivery of cutting edge products or services. Apple Inc., formerly known as Apple Computer Inc. is a company that was started in 1976 by Steven Jobs and Steven Wozniak at the basement of a garage (Hitt, Ireland & Hoskisson, 2012). Although the two men were college drop outs, they managed to introduce a highly revolutionary approach to computing in the electronics and equipment industry. This contributed a lot to the popularity of Apple’s products across the globe, even though the company has since been impacted on by tough economic downturns as described by Hitt et al., (2012).
Currently, Apple Inc. is considered to be one of the most successful companies in the electronics and equipment industry. This can be related to the fact that the company has managed to develop more innovative products to match the quickly changing consumer behaviors. Cusumano (2013) emphasizes this can be evidenced by Apple’s strong financial base since recent financial results released by the company indicate that the company has registered massive improvements in terms of revenues and profitability over the past one quarter; $42.1 billion in revenue and $8.5 billion in net profit. The company’s market capitalization also stands at about $643 billion (Apple Press Info, 2014).
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