WHY INNOVATION IS KEY TO APPLE’S GROWTH

Published: 2021-07-17 12:20:05
essay essay

Category: Business and Finance

Type of paper: Essay

This essay has been submitted by a student. This is not an example of the work written by our professional essay writers.

Hey! We can write a custom essay for you.

All possible types of assignments. Written by academics

GET MY ESSAY
SYNOPSISToday, after ten years, iPhones are used for almost everything, from ordering food, to paying bills and finding a date. However, with the advent of iPhone, several other tech companies have entered the market with their gadgets(Metz, n.d.). Google, Microsoft, and Samsung are some of the big names that are competing with Apple. Apart from these several other smaller companies provide the same facility in low prices. The big factor is that the smartphone industry, which Apple introduced, is now dominated by Android phones. Apparently App;e itself is fading away. It needs new innovative ideas to keep it afloat.Apple knows this all too well and has been trying to gain new customers through its Apps. Some of its innovative Apps include the face recognition App, which allows the user to unlock the phone through it. This App is still work-in-progress; however, if a workable App is created by Apple, it would be a game changer. Similarly, the company is also working on wireless charging technology.INNOVATION IS PROPORTIONAL TO APPLEBack in 2007, cell phones used to be flip phones, with a keyboard. And the more expensive ones; like Blackberry, used to have a detailed keyboard which seemed complicated to use. When the iPhone came, it was a completely different thing; with a touch screen and a smartphone that gave dozens of options to the user. IPhone plus the App Store redefined the whole thing.One of the key things Steve Jobs’ would say was, “skate down to where the puck will be.” He used this figure of speech; which relates to hockey, which means to expect key action and make sure you do not hit late. Apparently, he says that instead of waiting for the customer to decide the type product they want, create a product and make the customer want it. For example, people were content with the Walkman. However, it was Apple that made people realize that they deserve to use an iPod.Hence, Apple has always been known for its innovations. From Macintosh to iPhones, it has always been the company that brought something new to the market. Even today, people look up to it, and consider it as a market leader. In fact, most companies copy Apple’s innovative technology to survive. A famous example is of Samsung copying Apple’s iPhone. Apple’s products have been copied by a number of companies, but its battle with Samsung gained media attention and gained a lot of attention.However, Apple; that was founded on innovation, may be running out of ideas. According to hedge fund manager David Einhorn, Apple needs to leverage some value from its $137 billion cash, lying in their bank accounts(Bobkoff, n.d.). He says that Apple would have to come up with an innovative idea, like the iPhone, that may maintain its position in the market. However, if you think that Apple has only one mission; to build shiny toys for the rich, then you are wrong.Not long ago the mobile phone giant Nokia was the leader in mobile phone sales. But their lack of innovation and decision to continue with the same old design cost them their business. We also have the example of Ford Motor Company. Henry Ford wanted to make only black Model T cars, which resulted in his business suffering. Apple might be a giant corporation, with billions of dollars, but it needs new innovative products to keep it in the business. Otherwise, it might soon lose the game.REFERENCESBobkoff, D. (n.d.). What just happened to Apple, explained. Retrieved from http://www.businessinsider.com/what-just-happened-to-apple-explained-2016-8Metz, R. (n.d.). Apple needs an entirely new iPhone, not just a new version. Retrieved November 6, 2017, from https://www.technologyreview.com/s/608835/apple-needs-an-entirely-new-iphone-not-just-a-new-version/

Warning! This essay is not original. Get 100% unique essay within 45 seconds!

GET UNIQUE ESSAY

We can write your paper just for 11.99$

i want to copy...

This essay has been submitted by a student and contain not unique content

People also read