Paper Example on Company Performance Evaluation: Financial Indicators & Timely Control

Introduction

The evaluation of a company's performance plays a significant role in ensuring that the management makes the necessary adjustment for continuity by making the right decisions. It is imperative for the management to make the right decisions based on the prevailing results and circumstances. Conventionally, the evaluation a company's performance relies on financial performance indicators. Nevertheless, the current dynamic business environment the control of performance in a timely fashion, which heavily depends on the decisions by the top management, is of immense importance for performance control. It means that the management of the day has a bearing on a company's performance. Steve Jobs (the former chief executive officer of Apple Inc.) and Tim Cook evidently pursued different policies and performance ideologies. Towards this end, the study intends to investigate the performance of Apple Inc. during the tenures of the mentioned CEOs based on the financial performance, social good, staff motivation, the company's adverting or brand awareness, and the company's culture.

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Significance of the Problem

Different managers normally pursue different policies that have a bearing on the performance of a particular company and entire industry. Evidently, Steve Jobs and Tim Cook are different managers that have different policies for Apple Inc. The study of the different management styles and the decisions made for the company is significant not only in defining the company's performance but also drawing attention to the performance indicators (both financial and non-financial).

Aim of the Research Project

The aim of the research project is to investigate and compare the ideologies pursued by Tim Cook and Steve Jobs to determine the relevance in the business environment. In this regard, the study will apply systematic analysis of scientific literature, aggregation, and comparison methods to determine the best business models as indicated by the company performance in various aspects. Furthermore, the research intends to provide a classification scheme for performance evaluation based on the policies pursued by the aforementioned managers.

Research Objectives and Question

• To investigate the policies and business ideologies pursued by both Tim Cook and Steve Jobs at Apple Inc during their respective tenures as the CEOs of the company
• To determine the company's performance based on both financial and non-financial performance indicators
• To compare the policies and business ideologies of the tow managers with the aim of establishing the most relevant, sound, and appropriate decisions based on the prevailing business environment

Preliminary Literature Review

Business performance evaluation forms an inseparable part of any particular company since it is a prerequisite that defines business management decisions, the necessary adjustments for result improvements, and the direction of the company activity results (Myers & Fellow, 2014). Steve Jobs and Tim Cook evidently pursued different policies and performance ideologies that apparently led to varying fortunes for the company. Steve Jobs joined Apple in 1996 when the company's net worth stood at $3 billion (Narkuniene & Ulbinaite, 2018). When Jobs departed in 2011 the company's fortunes stood at an impressive $347 billion, which represents an astronomical improvement. The impressive improvement in Apple's stock market valuation was mainly due to the pursuit of the right policies and the right managerial decisions. Meanwhile, Tim Cook took over the company in 2011 when its stock market valuation stood at $347 billion (Narkuniene & Ulbinaite, 2018). It is worth noting that the company's worth stands at $922 billion and is on the right track to hit the $1 trillion mark by the end of the year. Comparatively, the two CEOs improved the company's fortunes immensely, albeit during different tenures and somewhat varying times and business environments. It is worth noting that that Jobs and Cook were at the helm of Apple leadership at different times. Nevertheless, Job made the much-needed turnaround while under Cook, Apple become the most valuable company in the entire world.

Apple's involvement of in social corporate responsibility was different, though intense, during the tenure of the two CEOs. The company has the ideology and an utmost commitment to making the world a better place. Notably, Jobs was never so much into charity or charitable works, human rights subjects, or environmental issues. However, the company's involvement into charitable courses became relatively prominent and part of its identity during Cook's tenure. Unlike Jobs, Cook evidently is passionate about gay rights, privacy, and the reform of the immigration system. During the latter's tenure, the company absolutely dependent on sustainable energy. Additionally, the company worked and invested to improve the supply chain and improved the terms and conditions of accessibility to clients living with disability. Under the contemporary leadership, the company seemingly adopted the idea that the world should be a better place.

The company employed different advertising or marketing strategies under the two mangers. Under the current leadership, the company delivers impressive advertisements or commercials. However, during Job's tenure, Apple had marketing brilliance that served to reach clients and potential clients all over the world. Jobs applied various campaigns that include but not limited to "Think Different" and "Get a Mac." The company applied the former campaign at times when it did not have any products to sell. It is worth noting that the latter campaign was profoundly referenced by the clients or the company fans many years after it stopped, meaning that it had a great impact on the company's fortune. Additionally, Job's campaigns served to popularize various new products such as the iPod and the iTunes. The campaigns included silhouettes dancing on the background. During those days, the company evidently invested heavily on advertisement campaigns. For example, it had the "Switch Campaign" that employed the services of renowned director Errol Morris. The investment then was substantial. Even in the contemporary setting, the company has one of the best, polished marketing strategies, particularly the Christmas advertisements that are popular with audiences across the globe.

Challenges and the methods applied by the two CEOs to manage them are seemingly different. When Jobs took over at the helm of Apple, the company was on the verge of bankruptcy. Prior to his appointment, the company had a few disastrous years that saw it make various losses that drove it near-collapse (Finkle & Mallin, 2010). The business model was evidently wrong or irrelevant to the prevailing market and business environment at the time. Jobs' arrival at apple obviously excited loyalists, but it was not an obvious turnaround. It required sound strategy coupled with the development of market-relevant products to further inspire the loyalty of the customers. On the other hand, Tim Cook took over at Apple Inc. at a seriously different time, but he still had challenges to overcome as well. Cook borrowed heavily from the business models of successful companies such as Sony, Polaroid, and Disney and managed to make the company the most valuable in the whole world. Nevertheless, Jobs faced more demanding and larger challenges in comparison to his successor, and brought the company back to profitable ways.

References

Besen, S. M., & Farrell, J. (2014). Choosing how to compete: Strategies and tactics in standardization. Journal of economic perspectives, 8(2), 117-131. Retrieved from https://www.aeaweb.org/articles?id=10.1257/jep.8.2.117

Finkle, T. A., & Mallin, M. L. (2010). Steve Jobs and Apple, Inc. Journal of the International Academy for Case Studies, 16(7), 31. Retrieved from https://www.abacademies.org/articles/jiacsvol16no72010.pdf#page=41

Myers, C., & Fellow, K. (2014). Corporate Social Responsibility in the consumer electronics industry: A case study of Apple Inc. Resource document. Georgetown University, Edmund A. Walsh School of Foreign Service. http://lwp. georgetown. edu/wp-content/uploads/Connor-Myers. pdf.

Narkuniene, J., & Ulbinaite, A. (2018). Comparative analysis of company performance evaluation methods. Entrepreneurship and sustainability issues, 125-138. Retrieved from https://epublications.vu.lt/object/elaba:31215673/