Essay on Globalization: A Technological Revolution in Interaction & Flow of Products

Question#1

Globalization refers to the integration in the world, which primarily involves the interchange of culture, ideas, views, and products. Fundamentally, the increase in globalization across the world has been attributed to the technological breakthrough that has been experienced across the globe (Dess, 2013). This has enabled an active interaction and communication between an individual from various spheres. This has resulted in freeing the flow of products from one place to another without geographical hindrances. Apple Inc is one of the global companies that has been dramatically influenced by globalization and changes in technological advancements.

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It is important to note that technological advancement has tremendously influenced the operation of Apple Inc. Being a leader in the field of creativity and innovation, Apple has made numerous investments in the workforce an also the acquisition of the latest machines to be used in production.

In reality, globalization has enabled Apple Inc to enjoy a considerable market share and command in America, Asia, and Europe. Ideally, the company's products are traded globally. In the same way, Apple's exceptional strategies that involve the utilization of the outsourced technological services have significantly helped it accomplish the unmeasurable success to remain leading in the provision of quality products to customers. The process of internationalization has positively affected Apple in various ways (Nandamuri, Rao, & Mishra, 2020).

Firstly, it has influenced Apple's business strategy. Through an extended market and demands for Apple products, the company has customized in the application of the differentiation strategy. In this case, Apple has led to the production of software, electronics, and phones that have unique features. To realize this, Apple Inc. has tremendously invested in research and development to unfold more in the field of technology (Cusumano, 2008).

It is further necessary to note that globalization has affected the operations and employment practices of Apple Inc. With the ability to access every part of the market, Apple has succeeded in outsourcing the production plants in various parts of the world. Through this, the company has achieved in manufacture products and launch them in new parts of the market. In terms of employment, the company managed to attract committed, talented, innovative, and experienced individuals across the world (Nandamuri, Rao, & Mishra, 2020).

Finally, the products and services of the company have also been affected by globalization. This is based on because the international markets need quality and products and services through a partnership with several producers at the international level. Apple has been able to utilize the outsourcing strategy to subcontract some suppliers to supply some components (Heracleous & Papachroni, 2016). The company has been able to maximize its resources and profit. It. It has obtained good access to the best human resources globally. The company has thus spent a considerable amount of capital to enhance the acquisition of capital and other factors of productions. The strategy to go globally has, therefore, played a crucial role in increasing its market share, thereby making Apple maximize its profits.

Question#2: Industrial organization model and the resource-based model

Apple Company has an excellent opportunity it has that can help increase revenue through the use of the industrial and resource-based model. Using the economic theory of the industrial organization model, Apple Company has the opportunity to continue to be successful and earn the above-average returns (Heracleous & Papachroni, 2016). The available leadership teams possess a better understanding of the competitive environment, general industry, strategy formulation, asserts, and skills. They also understand better strategy implementation and the superior return, which helps the company to maximize its profits and continue to grow. The resource-based model sees resources as key to excellent firm performance. It includes having the resources available to provide a sustainable competitive advantage. With continued research and development aimed at creating innovative technology and application product and services, they will increase brand loyalty. Having a competitive advantage over its rivals will enable the company to stay ahead in the market place. It is undeniable that the company has established itself in the market as a leader in technology (Heracleous & Papachroni, 2016). Their marketing and advertising strategies have increased awareness and demand for their products and technology worldwide.

Question#3: Role of Apple's Mission and Vision Statement

It is important to note that Apple's success has been attributed to its mission and vision statement. As part of its current vision statement, the company believes that it is on the face of the earth to make great products and this fact that cannot changed. The company is continuously focusing on innovating. It is believed in the simple marketing approaches and needs to own and control the primary technologies behind the products that the company manufactures (Heracleous & Papachroni, 2016). The company believes in saying no to thousands of projects to focus on the few that are truly important and meaningful to us. In this way, the company is focused on enhancing collaboration and cross-pollination of its group, with an aim allowing its team to innovate in a way that others are cannot. Finally, Apple is focused on nothing other than excellence in every group in the company.

It is also important to note that the company's mission plays a critical role in detailing its extensive and comprehensive approach for continued success as well as the emphasis on innovation, strategy, design, market selection, product development, organizational culture, and company direction.

How Each Category of Stakeholder Impacts Apple's Overall Success

Apple has managed to satisfy its stakeholders by meeting the demands that are imposed. It is important to note that the stakeholders significantly impact the operation of the business in terms of the customer perception and sales revenue. Apple has a high performance in addressing its corporate social responsibilities by satisfying the interests of stakeholders (Heracleous & Papachroni, 2016). These stakeholders include:

Customers/Consumers: Consumers make Apple's top priority when developing corporate social responsibility. The consumers, in this case, involve individuals as well as the organizations that buy Apple products (Heracleous & Papachroni, 2016). Thus, satisfying the interests of the customers as the top stakeholders of the business.

Apple's Employees: The employees constitute Apple's second-priority stakeholders because their primary interest is keeping employees properly compensated and developing careers. Keeping employees happy increase morale and help them motivate them to create innovate technology and develop profitable products (Heracleous & Papachroni, 2016). Software developers, research and design engineers, service technicians, corporate, and retail personnel are a vital part of Apple's success.

Investors: Investors forms an essential aspect of Apple's stakeholder. Stakeholders are significant stakeholders and determinants in financing new business and research developments. They are interested in maximizing the return on their investments. Apple has a strong financial position because it is one of the most profitable companies in the world and maintains high-profit margins (Heracleous & Papachroni, 2016). This excellent financial performance continues to satisfy their interests of investors.

References

Cusumano, M. (2008). Technology strategy and management the puzzle of Apple. Communications of the ACM, 51(9), 22-24.

Dess, G. (2013). Strategic management: Text and cases. McGraw-Hill Education.

Heracleous, L., & Papachroni, A. (2016). Strategic Leadership and Innovation at Apple Inc. SAGE Publications Ltd.

Hitt, M. A., Ireland, R. D., & Hoskisson, R. E. (2012). Strategic management cases: competitiveness and globalization. Cengage Learning.

Nandamuri, P. P., Rao, K. V. G., & Mishra, M. K. (2020). Sustainable Competitive Advantage Through Business Model Innovation: The Indian Perspective. In Disruptive Technology: Concepts, Methodologies, Tools, and Applications (pp. 191-213). IGI Global.