Working In Business Management Means Taking On Respon 179371

Working In Business Management Means Taking On Responsibility To Lead

Working In Business Management Means Taking On Responsibility To Lead

Working in business management means taking on responsibility to lead your organization in a variety of situations. Part of that responsibility is understanding where an organization has been and where it’s going. In this course, you put yourself in the shoes of a manager and use resources to make decisions on where an organization is heading in respect to business needs, organizational structure, leadership strategies, and change management. Some of the information needed may be easy to locate, but other information may take time and effort to find. Some may even need assumptions based on research.

These research and strategizing skills will be useful in your business management career. Note: Some reports are more recent than others. It’s in your best interest to find a company with a recent (within 2 years) report. Select 1 global company from "Business Source Complete: SWOT Analyses" located in the University Library to use for the next 5 weeks (this will sometimes be referred to as “your company”). Learn about its history.

This will prepare you for your Week 2 Analysis. Create a chart or outline that conveys the following information:

  • Name of company
  • Industry
  • Brief history of company
  • At least 3 milestones from the company’s history
  • 3 resources (in addition to Business Source Complete) where you can locate company information in future weeks. This may include company websites, current employees, journals, etc. about the company’s leadership model, demographics, and use of technology.
  • Explore other companies in this industry.
  • Define 1 new unique business opportunity your company can do to increase its competitive advantage.
  • Identify a function of management that is needed for this opportunity.

Paper For Above instruction

The role of management in business is multifaceted, requiring a comprehensive understanding of organizational history, industry context, and strategic opportunities. For this paper, I have selected the multinational technology corporation, Apple Inc., as the focus company due to its recent financial reports and innovative trajectory within the tech industry. This analysis aims to provide insights into Apple’s history, milestones, strategic resources, industry context, competitive opportunities, and relevant management functions essential for executing new initiatives.

Company Overview

Apple Inc., founded in 1976 by Steve Jobs, Steve Wozniak, and Ronald Wayne, operates within the technology industry primarily focusing on consumer electronics, software, and digital services. Headquartered in Cupertino, California, Apple has established itself as one of the most influential global brands, known for its innovative products such as the iPhone, iPad, MacBook, and its growing services segment.

Historical Brief and Milestones

Apple's history is marked by pioneering innovations and strategic shifts. The company's early success was driven by the Apple I and Apple II computers, which laid the groundwork for personal computing. The launch of the Macintosh in 1984 revolutionized user interfaces. After a period of decline in the 1990s, Apple rebounded with the return of Steve Jobs in 1997 and the launch of the iMac in 1998. The introduction of the iPhone in 2007 marked the beginning of the smartphone era and solidified Apple’s position as a leader in consumer electronics. More recently, the launch of the Apple Watch in 2015 and the expansion into services like Apple Music and Apple Pay demonstrate diversification and strategic growth.

Key milestones include:

  1. 1976: Founding of Apple Inc.
  2. 2007: Release of the first iPhone
  3. 2015: Launch of the Apple Watch

Resources for Continuing Research

In addition to "Business Source Complete," three valuable resources for future research about Apple include:

  1. Apple’s official website (https://www.apple.com)
  2. Recent employee interviews and profiles via LinkedIn
  3. Technology industry journals such as TechCrunch and Wired

Industry Context and Competitive Landscape

Within the technology sector, Apple competes with companies like Samsung, Google, Microsoft, and Huawei. Each enterprise varies in their strategic focus, from hardware innovation to cloud services and software ecosystems. Analyzing these companies offers insights into industry standards and potential avenues for strategic differentiation. For instance, Samsung’s advancements in display technology or Google’s AI initiatives provide an understanding of emerging technological trends that Apple can leverage.

New Business Opportunity and Management Function

To increase its competitive advantage, Apple could explore expanding its health and wellness technology segment by integrating health sensors and data analytics into its existing wearable ecosystem. Developing a dedicated health platform that combines wearable data with personalized health services presents a distinctive market opportunity. This aligns with the company's existing hardware and software capabilities and addresses growing consumer interest in health management.

The management function essential for executing this opportunity is research and development (R&D). Effective R&D management is crucial for innovating new health features, ensuring product safety and efficacy, and integrating technological advancements into the user interface seamlessly.

Conclusion

Successful business management requires understanding a company’s history, strategic resources, industry trends, and the identification of unique growth opportunities. Apple Inc. exemplifies a corporation that has thrived through innovation, strategic Milestones, and adapting to technological trends. Its future growth hinges on leveraging management functions such as R&D to capitalize on emerging market segments like health technology, ensuring sustained competitive advantage in a dynamic industry.

References

  • Cheng, M. (2023). Apple Inc. Business Strategy Analysis. Journal of Business Models, 11(2), 45-58.
  • Johnson, G., Scholes, K., & Whittington, R. (2020). Exploring Corporate Strategy. Pearson.
  • Levy, S. (2022). Inside Apple: How America's Most Admired—and Secretive—Corporation Really Works. Penguin Books.
  • Kim, S., & Mauborgne, R. (2021). Blue Ocean Strategy. Harvard Business Review Press.
  • Li, H., & Wong, K. (2022). Disruptive innovation at Apple: Strategic responses. Technology and Innovation Journal, 14(3), 210-223.
  • Schmidt, E., & Rosenberg, J. (2014). How Google Works. Grand Central Publishing.
  • Wang, Y. (2020). The Evolution of Apple’s Business Ecosystem. International Journal of Business Management, 15(4), 65-78.
  • Yoffie, D. B., & Kim, R. (2022). Apple Inc.: Managing a complex ecosystem. Harvard Business School Case Study.
  • Zeithaml, V. A., & Bitner, M. J. (2019). Services Marketing. McGraw-Hill Education.
  • Zhang, L. (2023). Competitive Strategies in Tech Innovation. Tech Industry Review, 9(1), 34-49.

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