Free Paper Sample on Apple's Inc Description

Introduction

Apple is an electronic giant that provides services like Apple pay & Apple music, Hardware like iPad, iPhone, iWatch & Macbook, software like iOS and tvOS, and applications like facetime, etc. (“Fortune 500,” 2020). Apple Inc. was founded in April of 1976, where the current CEO is Tim Cook. The company headquarters is at Cupertino, California, United States. The company operates in 25 countries with 509 retails stores. Apple has many stores in the United States more than any other country they serve, with 271 stores and another 100 online stores. The company has one hundred and thirty-seven thousand employees. The revenues stand at $260 billion as of 2019, and profit at $55 billion.

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Competitive Advantage

The competitive advantage is very significant for any company. Every company doing well in the market has theirs (Haque, 2020). It is paramount for sustainability, and without it, the business cannot survive for long. The sustainable profit growth is through competitive advantage. Companies face different threats and weaknesses in the market. However, the company should have a unique way of changing these into strengths and opportunities. Activities that Apple does correctly give it an upper hand in the market. Apple Inc developed its economic moat by a competitive edge in the market (Haque, 2020). The company understands the internal factors are its strength and again manages the external factors very well to support its competitive advantage.

Apple’s Innovation

The company takes the first-mover position in the industry. It created the iPad, iPhones, iMac, iPod, iTunes, and iPad. The innovative technology that the company applies to increase the longevity of the products and cause them to dominate the market.

The value of a brand in the business can give a company a competitive advantage. The fact that people trust the Apple brand makes it rank the top. Apple brand is one of the most valuable brands of all time. Having this excellent brand helps it beat its competitors in the market. For the last seven years, Apple has ranked position one. The Apple brand, as of 2019, stands at $234 billion (Gupta, 2018).

The protection of information is significant. Apples follow the device-based information that does not allow unauthorized persons to play with the users’ confidential information (Gupta, 2018). Customers owning phones that make them feel secure that their data is safe; will buy more. Loss or theft of information is a challenge in the telecommunication industry, but organizations try to protect data (Thompson et al., 2020).

Weakness

The company’s pricing affects how it will sell in the market. The number one thing is that the company sells great products, and that is what they sell at high prices compared to others. Many people prefer expensive high-quality products (Thompson et al., 2020).
The company does not do a lot of product promotion. The fact that the brand is very well known is its advantage. Doing a little more marketing in the new market can do the company well.

Opportunities

The company is still growing its customer base every day. It offers cutting edge technology that satisfies its customers. The company’s retention rate is 92% (Gupta, 2018). Now, it should focus on alliances and the future of the internet.
The companies have a great team of professionals in all sectors. Among them are; technology, development, IT, branding management, marketing, etc. (Gupta, 2018). The group pulls together to help the organization build new opportunities for the organization.
The company has worked on the channels of distribution so well. Apple Inc is in different parts of the world. There is room for expansion because the company has retail stores only in 25 countries out of 256 countries in the world (Gupta, 2018).

Conclusion

Apple Inc is one of the companies which is doing very well. The company has the main focus on technology and people. Capturing the two in the business work wonders. Apple Inc has distinguished itself as one of the best unique companies and offers the best products in the market. The organization uses its external and internal factors to create a competitive advantage in the market.

References

Fortune 500. Fortune. (2020). Retrieved 9 September 2020, from
https://fortune.com/fortune500/2019/search/.

Gupta, S. (2018). Apple SWOT 2020 | SWOT Analysis of Apple | Business Strategy Hub. Business Strategy Hub. Retrieved 9 September 2020, from
https://bstrategyhub.com/swot-analysis-of-apple-apple-swot-2018/.

Haque, F. (2020). Competitive Advantages of Apple Inc. The Strategy Watch. Retrieved 9 September 2020, from https://www.thestrategywatch.com/competitive-advantages-apple-inc/.

Jurevicius, O. (2020). Apple SWOT analysis (5 Key Strengths in 2020) - SM Insight. SM Insight. Retrieved 9 September 2020, from
https://strategicmanagementinsight.com/swot-analyses/apple-swot-analysis.html.

Thompson, A. A., Peteraf, M., Gamble, J. E., & Strickland, A. J. (2020). Crafting and executing strategy: Concepts and cases (22nd ed.). McGraw-Hill.