Threats and Challenges
Apple Company still faces various challenges of a flooded market full of counterfeit products related to its original merchandise. The challenge is rampant in developing countries and has led to negative reviews for the company. The company is also facing a threat from competitors like Android and Google, offering the same services at a lower price (Addison & Adelaide, 2022). Apple has been forced to come up with new technologies but offers them at a reduced price due to t competitors. Additionally, Apple is yet to address the issue of green energy.
Strategic Initiatives
Apple is starting to develop an advantage over other technological companies because of its new focus on the design and functionality of its products. The company has introduced numerous new products like iPad, iMac, and MacBook, among others products. According to Greg (2020), these products create a competitive advantage and strengthen the ecosystem. The company is enhancing customers’ experiences through the use of social media platforms (Yie et al., 2021).
Apple’s Proposed Process Improvement
Apple proposed process improvement is a complex idea that incorporates the involvement of both company’s stakeholders and the customers. The company is taking total care of its designers and has separated them from the rest of the team to enable them to focus primarily on the design task. The EMP and the GSM have been tasked with ensuring customers’ expectations are met (Addison & Adelaide, 2022). Apple Company will produce quality products that are more marketable.
Additional Resources
Apple requires additional human, financial, and physical resources to execute and ensure the effectiveness of its strategic initiatives. The company needs to invest in new technologies and design programs to have a competitive advantage (Prakruthi & Ramu, 2018). Additionally, investing in debt-management tools will need additional resources because of the different number of management staff required. Therefore, human resources will provide the much-required staff in the new cross-functional team design. The physical resources will also ensure adequate support for expanding into a new market.
KPI and Financial Investment
The Apple company is founded on five basic KPI aspects. They include customer satisfaction, core competencies, employee commitment, market share, and shareholder value (Dudic et al., 2020). The company’s Key Performance Indicators will help in ensuring a successful and balanced scorecard. The KPI will ensure there is a justifiable financial investment and an increased measure of strategies. As a result, there is a projected increase of revenue by 10-15% within one year and a 3-5% net income within the same period (Prakruthi & Ramu, 2018). The competencies will improve teamwork and better management plan to ensure a high level of functionality, customer satisfaction, and decreased dependency to enhance market share.
Anticipated Return on Investment
Based on the third Quarter of 2022, Apple had a 48.8% return on investment (Apple Inc., n.d.). The Apple Company must be prepared to deal with the risks and all the difficulties associated with its investments and strategic plan. However, there is a high chance that Apple will have positive growth in both domestic and foreign investments to enhance financial flexibility. A strategic plan will enable Apple Company to assess all the accomplishments and favorable returns on investment.
References
Addison, M., & Adelaide, V. (2022). Brand development and marketing strategies in the USA: A case of Apple Incorporation. Journal of Marketing and Communication, 5(1), 1–8.
Apple Inc (AAPL) (n.d.) Return on Investment ROI quarterly and annually, average high and low, overall ranking from March 26, 2022, to March 27, 2021.
Greg, R. (2020). Strategic review of Apple Incorporation marketing in the United States of America. Journal of Marketing and Communication, 3(2), 47–83.
Dudic, Z., Dudic, B., Gregus, M., Novackova, D., & Djakovic, I. (2020). The innovativeness and usage of the balanced scorecard model in SMEs. Sustainability, 12(8), 3221.
Prakruthi, A., & Ramu, M. (2018). A study on SWOT analysis with special reference to the Apple Company. International Journal of Pure and Applied Mathematics, 119(17), 181–192.
Yie, E., Zhi, E., & Ping, T. S. (2021). A critical analysis of internal and external environment: A case study of Apple Incorporation. Journal of International Business and Management, 4(10), 01–14.