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Company Overview and Mission and Vision Statements-Apple Inc

Company Overview and Mission and Vision Statements-Apple Inc

Company Overview

Apple Inc. is an American multinational company that designs, produces, and markets personal computers, tablets, smartphones, and wearable and portable devices. The company’s primary products include Apple TV, iPod, Mac, iPad, and iPhone (Liu, 2021). Steve Jobs and Steve Wozniak started the company, and it is one of the leading technology brands in the world. It is a global leader in IT, which operates about 500 stores globally where more than 120,000 people are employed.

Apple Inc.’s Mission Statement

Apple Inc.’s mission is “To bring the best user experience to customers through innovative hardware, software, and services.” According to Chen et al. (2021), this mission shows the company’s strengths regarding an identity of a high brand, leading innovation, valued technology and innovation, and a top-quality customer experience. True to its mission statement, Apple’s products have an unmatched record regarding the user experience, pushing the company to top ranking in most chats that evaluate the customer experience. However, the mission statement states that the company’s innovative hardware, software, and services have two weaknesses. First, they are incompatible with other OS systems (Hussein & Hartelina, 2021). Second, they are not cheap to acquire, limiting the affordability to customers with limited financial resources.

Apple Inc.’s Vision Statement

Apple Inc.’s vision is, “We believe that we are on the face of the earth to make great products, and that is not changing.” The vision statement has offered the company significant strength as it influences its strategic management regarding decisions made. For instance, the statement on great products ensures that decisions are focused on making great products. It is the backbone of great innovation that the company has witnessed over a long period and has maintained high profit margins (Niu et al., 2019). The vision statement has contributed to making the company a notable global brand. The vision statement, however, has created some weaknesses for the company. For instance, the high-selling products only sell to specific segments in the high-end markets.

References

Chen, X., Liu, Y., & Gong, H. (2021, December). Apple Inc. Strategic Marketing Analysis and Evaluation. In 2021, the 3rd International Conference on Economic Management and Cultural Industry (ICEMCI 2021) (pp. 3053-3061). Atlantis Press.

Hussein, F., & Hartelina, H. (2021). After Sales Service for Smartphone iPhone to Customer Loyalty. APTISI Transactions on Management (ATM)5(1), 62-72.

Liu, Z. (2021, January). Analysis of Apple Inc.’s Innovation Dilemma from the Perspective of Leadership. In the 6th Annual International Conference on Social Science and Contemporary Humanity Development (SSCHD 2020) (pp. 551-554). Atlantis Press.

Niu, B., Li, J., Zhang, J., Cheng, H. K., & Tan, Y. (2019). Strategic analysis of dual sourcing and dual channel with an unreliable alternative supplier. Production and Operations Management28(3), 570-587.

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Question 


Company Overview and Mission and Vision Statements-Apple Inc

Company Overview and Mission and Vision Statements-Apple Inc

Go to the Yahoo Finance website. Enter the stock symbol for Apple company. Note the wealth of information on the company that may be obtained by clicking any item along the row below the company name. You will use this data when you refine your lists of key external and internal factors later in the course. Each factor listed for this exercise should include a percentage, number, dollar, or ratio to reveal some quantified fact or trend. These factors provide the underlying basis for a strategic plan because a firm strives to take advantage of strengths, improve weaknesses, avoid threats, and capitalize on opportunities. Avoid vagueness in strategic planning.

Part 2: Company Overview and Mission and Vision Statements

Assess Apple’s current Mission and Vision statement and, in 250-500 words, explain your analysis of its strengths and weaknesses.