APPLE INC. AND THE IPAD Apple Inc. and the iPad Word Count: 517 (2 pages) I. Introduction Apple is arguably one of the most powerfulcompanies in the world. According to Needles and Powers (2010), “You can get an idea of the extent and importance of Apples long-term assets by looking at the Financial Highlights from the companys balance sheet” (pp. 400). Apple is a company which now commands over $700 billion dollars in net worth—and has more in liquid assets than either the U. S. government or all of Europe’s cash assets combined.
Here, one will examine the company of Apple Inc. , the iPad, and Apple’s competition. II. The Firm: The History of Apple Inc. Apple was dreamed up by Steve Jobs and a friend who were working out of a garage. They acquired an investor, and later offered IPO’s. According to Linzmayer (2004), “[When a firm] took [Apple] public…the stock opened at $22 and all 4.6 million shares sold out in minutes. The stock…close[d] at $29, giving the company a market valuation of $1.778 billion.
Jobs, the single largest stockholder with 7.5 million shares, suddenly had a net worth exceeding $217 million” (pp. 59). III. The Product: The iPad The iPad was rolled out by Apple in April of 2010. It’s a tablet computer which has various unique features. According to Biersdorfer (2011), “[U]sing the iPad takes more than touch. You tap, you flick, you swipe, you double-tap, you drag, you press-and-hold. Which motion you make and when you make it depends on what you’re trying to do at the time” (pp.
21). The iPad also allows one to be able to use the computer at one’s fingertips, instead of having to tote a whole laptop around. According to Biersdorfer (2011), “Now you can lean back on your couch, flip on the tablet, and read and write mail on a spacious 10-inch screen. No more terse, abbreviated messages inspired by a cramped little [mobile phone] equipad. With the iPad’s full-size onscreen keyboard, you can compose your thoughts…without having to drag the laptop out…” (pp. 77). IV.
The Competition Apple has strategy aplenty. According to O’Grady (2008), “Surprisingly, Apple enjoys much commercial success with little, if any, focus group testing, barely any beta testing, and a public relations department that’s wound tighter than a drum. The element of surprise is Apple’s primary strategy. Apple… builds suspense…because there’s big money at stake” (pp. 42). Other organizations within the Apple Inc. strategic group are numerous. Apple is the market leader with billions in reserve. Its main objective is to make great products.
Its strengths are that it is a flexible company with a lot of good ideas. Its weaknesses are that it does not always admit flaws nor be very forthcoming about what is going on within the company. Keeping Steve Jobs on as the chairman of the board at Apple was a smart move, and will still help the company remain competitive in the wake of his absence as CEO. V. Conclusion Surely, Apple has a great story as a company, the likes of which are of mythic proportions.
Whether Apple can maintain its innovation in the future is key to its success or failure, and also developing innovative new products like the iPad while staving off competition in the years ahead. REFERENCES Biersdorfer, JD (2011). iPad: the missing manual. US: O’Reilly Media. Biersdorfer, JD (2011). iPad 2: the missing manual. US: O’Reilly Media. Linzmayer, OW (2004). Apple confidential 2.0: the definitive history of the world’s most colorful company. US: No Starch Press. Needles BE & Powers M (2010).
Financial accounting. US: Cengage Learning. O’Grady, JD (2008). Apple inc. US: ABC-CLIO.