Apple Inc. Report 2023

Description

Established in 1977 in California, Apple Inc. is a global designer, manufacturer and marketer of mobile communication and media devices, personal computers, and portable digital music players. Apple is the largest IT company in the world by revenue and total assets and the second-largest mobile phone manufacturer. The company also sells a variety of related software, services, accessories, networking solutions, and third-party digital content and applications.

Apple’s ability to design and develop its own operating systems, hardware, application software and services to provide its customers products and solutions with innovative design is placed at the core of its business strategy. As of September 2022, Apple had approximately 164,000 full-time equivalent employees. The net sales of the world’s largest IT company by revenue increased 8% or USD 28,5 billion during 2022 compared to 2021. Higher net sales in Services and Wearables, Home and Accessories categories played an instrumental role in achieving such a growth.

Apple business strategy comprises focusing on design and capabilities of products and ever-strengthening the company’s ecosystem. The first company ever to be valued at USD1 trillion purposefully cultivates a reputation for not paying dividends to investors. In short-to-medium term perspective, Apple is working towards decreasing dependence of the business on the sales of iPhones.

Leadership style at Apple is known to be democratic. CEO Tim Cook practices ‘quiet leadership’ and he is widely recognized as an effective leader. At the same time, a number of industry watchers and analysts criticize Tim Cook for the lack of innovative genius his predecessor legendary Steve Jobs used to possess.

Apple has hierarchical organizational structure. Moreover, the company’s organizational structure also integrates product-based grouping with a focus on collaboration between different groups and divisions. Organizational culture of the multinational technology company, on the other hand, fosters creativity and innovativeness coupled with intensive workload for employees at all levels. A high level of secrecy and focus on diversity and inclusion can be also specified as important elements of Apple corporate culture. Today, Apple is faced with a range of business threats such as quality problems with negative implications on the sales and the company brand image and intensifying competition from China and India.

Apple Inc. Report contains the application of the major analytical strategic frameworks in business studies such as SWOT, PESTEL, Porter’s Five Forces, Value Chain analysis, Ansoff Matrix and McKinsey 7S Model on Apple. Moreover, the report contains analyses of Apple’s business strategy, leadership and organizational structure and ecosystem. The report also analysis marketing strategy, ecosystem and discusses the issues of corporate social responsibility.