Introduction
Apple Inc. is an American company, headquartered in Cupertino, California, and was founded in the year 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. The company produces hardware and software products including smartphones, personal computers, tablet computers, media players, iCloud and iOS operating systems. The current paper is aimed to enlighten the SWOT analysis of the company in order to incorporate the self-assessment to fit within the organization.
Strengths
According to Forbes (2016), Apple has the highest brand value of $145.3 billion, due to which it is the most recognized brand in the world. Apple Inc. has the competitive advantage in acquiring the early adopters and innovators with the launch of its new products, which eventually enables the company to dominate the market. The company’s annual revenue account for $182.3 billion and hence, the financial standing of the company indicates the availability of monetary funds to incorporate innovation and investments in the research and development. In this manner, the company can utilize its financial strength to become more innovative and sustain its top ranking for the long term (Forbes, 2016).
Apple has been known for its innovative products and software services due to which it possesses a high market standing and encompasses the premium pricing strategy to yield high profits. The revenue of the company indicates the effectiveness of the pricing strategy and helps the company to sustain its high profit margins (Smithson, 2015). In this manner, the company sustains its profits and creates flexibility in investing in the operational mechanisms of the company to enhance the quality of its products. Apple Inc. utilizes $1.2 billion in advertising its products which depicts that the company has the strong potential and financial capability to spend on marketing its products (Forbes, 2016).
Apple Inc. has the loyal customers who prefer its products whereas, the company offers its customers with the complete technological gadget solution where the products are needed for personal or professional use. The company is focused on enhancing its quality due to the strong inclination of its customers towards its new products. The company also possesses the most competitive developers due to which the company is highly inclined towards enhancing the features and design of its products (Marketing 91, n.d).
Weaknesses
Apple functionalizes the premium pricing strategy due to which its products are high priced than the products that are being offered by its competitors. In this manner, the consumers tend to consider the products offered by its competitors in order to avoid the premium price and purchase the products that are more affordable. The company is focused on keeping its products exclusive due to which its products are not available and are distributed via selected and authorized distributors (Sepherteladze, 2015).
Apple generates the highest revenues in the world but, these revenues are generated from the high-end market because the Apple’s target customers belong from the upper and upper-middle class. The middle class customers made up a large number of customers in the global market, which are also not targeted by the Apple. In this way, Apple does not generates the potential profit from the target market of the middle class customers. The sales of the company are also limited due to the unavailability of its products in the world and lack of access to the large number of customers (Jurevicius, 2016).
The features that are offered by the products of Apple Inc. are competitive but the design of its products remains same and the upgraded or new products contain the feature enhancements rather than variety. The lack of availability of product design and product range reduces the customers’ inclination towards the products and the customers end up buying the brands that offer variety of designs. The products of Apple Inc. are incompatible with other brands and the latest versions of products and service do not offer huge variations and upgradations (Dudovskiy, 2016).
Opportunities
Apple Inc. possesses the financial capability to invest in the research and development and offer new products and features. The company also incorporates feedback from its customers which provides the company with the insights about the customer demands and the upgradations that the customers want in the features of its products and services. Apple Inc. also possesses the competitive developers to address the ever-changing demands of its customers and address their needs by means of product diversification (Euro Monitor, 2015).
Apple Inc. targets the customers from upper class and upper-middle class and without changing the extent of its target customers, the company can increase the number of its distributors to reach the markets in the countries where its products are not available via the direct distributors. The demand for the smart phones and tablets has been increasing due to the increasing dependency on the technological assistance and these products are considered useful in homecare, academic and professional settings. In this manner, Apple Inc. can enhance the features and design of its products in order to increase and maintain its market share (Dudovskiy, 2016).
Threats
Apple Inc. is prone towards the threat imposed by the Android operating system. The potential customers are more inclined towards the services provided by Google and the expansion of this operating system is predicted for long term due to its no-cost strategy. Similarly, the continuous variety and designs offered by its competitors also impose threat to the Apple Inc. because these products are offered at low cost with the competitive features and quality. The products offered by Apple Inc. incorporate the same design due to which the existing customers of Apple Inc. may consider the decision of switching their brand (Smithson, 2015).
Apple Inc. has also not launched any new product in the recent years and the pioneer of Apple Inc. Steve Jobs has been retired due to which the inclination of the company towards innovation has been questioned. Apple Inc. acquires the services from the competitive developers and scientists and the cost of purchasing rights and patents is very high due to which it can effect the profit margin of the company. Similarly, the current scandal of Apple Inc. with FBI related to the provision of access of iPhone to the special services has made its customers conscious about the company’s decision (Heracleous, 2013).
Self-Assessment
Self-assessment provides the insights about the individual’s ability to compete and interact in the external environment by means of enlightening the aspects that determines the individual’s identity and inclinations (Boud, 2013; Jiang, 2015). In accordance with the feedback that I received from my boss, I tend to respond towards the challenges and incorporate a high tendency of goal orientation which eventually makes me an over-achiever. However, I believe that I am more inclined towards the career development due to which I tend to accomplish my work related tasks in an effective manner.
The feedback acquired from the peers and co-workers indicated that I am persuasive and utilize the best critical and problem solving skills in carrying out the work related tasks. In accordance with my personal assessments, I have observed that I am more inclined towards determining the operational aspects of work that can be more effective. My objectivity towards goal achievement motivates me to take risks and incorporate the innovation in performing the work related tasks.
In accordance with the feedback I received from my co-workers and peers, I have come to know about my weakness, which implies that I lack the adequate communication skills. However, I also believe that I am quite an introvert and hence, my competitiveness resides in the performance of the technical and conceptual skills rather than people skills. As I am focused towards the career, I intend to acquire the next available position in my organization and due to my lack of communication skills, I may not be fully able to address the job requirement of the next available position and hence, my promotion is highly threatened by the other applicants of the job.
There are also some opportunities that intrigue me towards striving for the best possible career related decisions. My active participation in the training sessions to enhance the communication skills is considered an opportunity for me to enhance the skills that I lack. Moreover, there are also numerous job and career related opportunities that require the advancements in the technical skills with which I am completely adept.
References
Boud, D. (2013). Enhancing learning through self-assessment. Routledge.
Dudovskiy, J. (2016). Apple SWOT Analysis. Research Methodology. Available from: http://research-methodology.net/apple-swot-analysis/
Euro Monitor. (2015). Apple Inc. in Retailing. Euro Monitor International. Available from: http://www.euromonitor.com/apple-inc-in-retailing/report
Forbes. (2016). The World’s Most Valuable Brands. Forbes. Available from: http://www.forbes.com/powerful-brands/list/#tab:rank
Heracleous, L. (2013). Quantum Strategy at Apple Inc. Organizational Dynamics, 42(2), 92-99.
Jiang, Z. (2015). Core self-evaluation and career decision self-efficacy: A mediation model of value orientations. Personality and Individual Differences,86, 450-454.
Jurevicius, O. (2016). Apple SWOT analysis 2016. Strategic Management Insight. Available from: https://www.strategicmanagementinsight.com/swot-analyses/apple-swot-analysis.html
Marketing 91. (n.d). Swot Analysis of Apple Iphone. Marketing 91. Available from: http://www.marketing91.com/swot-analysis-apple-iphone/
Sepherteladze, S. (2015). Apple SWOT Analysis with Infographics. Inevitable Steps. Available from: https://inevitablesteps.com/swot-analysis/apple-swot-analysis/
Smithson, N. (2015). Apple Inc. SWOT Analysis & Recommendations. Panmore Institute. Available from: http://panmore.com/apple-inc-swot-analysis-recommendations
