Apple Innovation Essay

1969 Words 8 Pages
An economic crisis can be a crucible that forges new innovations in business operations or they can lead companies to make dumb mistakes that destroy them as they rush blindly to survive. We’re beginning to see corporations move into one camp or the other as the economic downturn gets worse and worse but one company one company stands out for forging ahead on innovation: Apple Computers. Apple’s innovation in their new product introduction leads the way and shows how product innovation can deliver superior economic return to a company and its shareholder.
Apple Computers Inc. was co-founded by Steve Woznaik and Steve Jobs (known as the “two Steves”). Both of them shared a common idea of assembling a machine and subsequently selling it. In
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Eventually, Jobs managed a loan of $250,000 and Apple computer, Inc was formally founded in April 1976.
Apple II was released in 1977 was credited with the creation of the home computer market. Millions of Apple II was sold till 1980s. When the company went public in 1980, it made more money than any IPOs, since Ford Motor Company in 1956.
By the 1980s, Apple started facing competition in the PC business. Its chief competitor was IBM, which through its cheaper version was capturing a chunk of the emerging desktop PC market. Apple III was subsequently introduced to the corporate desktop market, dominated by IBM. Apple III was a market failure. Although it sold even at a very high price yet most of the models had to be recalled and replaced. The reason for this was that the machines got overheated due to the omission of the cooling fan13. An improved version was released in 1983; the initial bad experience discouraged buyers and left the Apple III was largely a market failure.
During the same time, Apple started to do pioneering work in building a PC with Graphical user Interface (GUI), computer mouse, object-oriented programming and network capabilities. Jobs’s previous exposure to the Xerox Laboratory made him acknowledge that there is a future for such technologies and he started to support such research. Subsequently, the Lisa and the Macintosh teams were formed. Lisa was debuted in 1980 at $10,000. It was acknowledged to be a product

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