Discuss about the Business Plan and Implementation.
Business plan-Apple Inc. Company
A business plan is perceived to be a paramount tool in any business organization. Apple Inc. is an American based company that manufactures and market mobile communication devices, portable music players. This company is the largest information technology provider in the world. The aim of this report is to create business focus, develop and prepare a plan of activities to be used as a guide to Apple Inc. in achieving its set objectives and goals.
For companies to thrive, there must be established policies in conducting its operations aiming at increasing their profit margins hence continued business life. Increasing productivity of the firm’s products, the management may employ strategies like use of new technology in their operation, review of the existing setup and implement continuous improvement approach during the process. One of the primary goals of Apple Inc. firm is to increase the productivity of information technology products. Therefore, this translates to high sales volume hence high-profit margins are achieved in the long run. The company can attain this through creating brand awareness about its products to the customers (Csiszar, 2017). Brand awareness can be accomplished through the internet (web leverage, the creation of social media presence) and sponsoring public events such as open games and golf tournaments. In the event, the products are displayed to the potential customers with disposable income to purchase the product.
In every business to remain active in the market, there is a need for established plan of activities declaring a day to day activities. In particular, the plan is used to map the future, to support the growth of the firm, to develop and communicate the course of action to the people and to support exit strategic management processes.
Pre-existing Strategies and Operational plans
Apple Inc. products remain to uphold the original company’s promises to its customers during its inception. The company operates in California and targets global markets. The company uses strategies such as Apple brand personality (focuses on emotions about how the customer feels after using the company product), Apple customer experience (all the goods must conform to Apple brands) and Apple brand halo effect. The company goal in employing such strategies is to maintain a brand promise to its potential customers (Marketing-Minds, 2016).
It is much vital for any business to have proper market review requirement processes during their operations. Apple Inc. The company employs tools such as Steeple analysis technique, Scenario planning technique, critical success factor analysis (CSFA) and the five forces technique. Also, the top management reviews market performance and the desired direction, operational matters pertaining the business and workers organization for proper performance analysis of the firm. The company operates in US based markets and other international markets across the world.
Resource Requirement Processes
Determining resource requirement is one of major goal before business operation commences. The primary purpose of the analyst in business is to give out aspects that can reduce overall costs in operation. Apple Inc. employs mechanisms such as conducting of survey cycle, scheduling brainstorming meeting and interviewing key stakeholders as some of the major processes in identifying resource required. The company is ended by the CEO being assisted by the managers (Rowland, 2017).
Consultations with Stakeholders
Apple Inc. needs to form both internal and external stakeholders in its operation. Internal stakeholders include the employees and company owners. On the other hand, external stakeholders include the investors or those funding the business project (Denton, 2017). The firm consultation with stakeholders aim is to yield benefits like an evaluation of firm’s action, identification, and tracking of firm’s needs and the establishment of brand values. Through the consultation process, information flow to and from the stakeholders become much efficient. Therefore, a devised process is much vital in the organization. Developed channel to achieve this can take the form below
Objectives and Measures Perfomance Process
Apple Inc. needs to develop performance goal and actions techniques like a balanced scorecard. Management can include new strategies with the aim of achieving a breakthrough in operation. This mode translates strategic business objectives into performance measures. The following schematic chart gives activities flow in performance measures in Apple Inc (Rousseau, 2015).
Figure 2: Scorecard technique
Implementation and Monitoring of Business Plan-Apple Inc.
Report on the main aspect performance measure at different stages
Apple Inc. Incorporate scorecard technique in evaluating performance action in the management in achieving its set objectives. Executive management focuses on measurement. In all the four categories in the plan and appropriate be drafted. In particular, Apple Inc. Being scheduled to be a PCs company, consumer loyalty measurements are merely being acquainted in arranging representatives toward turning into a client-driven organization. The company needs to build its free studies with a specific end goal to track its key market fragments in far and broad perspective. At this phase of performance measure implementation, key aspects need to addressed for the easy actualization of the company set objectives (Rousseau, 2015).
In innovation and learning perspective, the development and learning goals are proposed to drive change in monetary, client, and interior process execution. At Apple Inc., such upgrades originated from an item and administration advancement that would make new wellsprings of income and market development, and also from a nonstop change in inner work forms. The primary target was measured by percent revenue from new administrations. A staff disposition study and a metric for the quantity of representative, recommendations measured regardless of whether such an atmosphere was being made. At long last, income per worker measured the results of representative duty and preparing programs.
Similarly, the financial point of view included three measures of significance to the shareholder. Return-on-capital-utilized and income reflected inclinations, while consistent estimate quality flagged the corporate parent's craving to diminish the chronicled vulnerability brought about by unforeseen varieties in execution. Apple Inc. administration included two monetary measures. Extend benefit gave concentrate on the venture as the fundamental unit for arranging and control.
To create measures of inner procedures, Apple Inc. administrators characterized the life cycle of investment from dispatch to culmination. The new concentration underscored actions that incorporated key business forms. Inner reviews had uncovered that the circuitous expenses from a mishap could be 5 to 50 times the immediate costs. The scorecard included a security file, got from an extensive wellbeing estimation framework that could recognize and order every single undesired occasion with the potential for damage to individuals, property, and process (Rousseau, 2015).
Comparison of Performance Report and Set Objectives
The firm has been able to achieve the set goals and objectives, in survey conducted indicates that there is an increase in net sales, increased revenue and minimal complaints from the potential customers. The key performance indicators used by Apple Inc. can be customer feedbacks and quality levels of the products this clearly indicate that the primary set business objectives are set by the firm. Also, the company has devised other production strategies like patenting with the aim of venturing into wider global markets (NASDAQ, 2017). For this matter, the firm will have wide access to the customers hence enjoying benefits of economies of scale.
Areas of Underperformance
Since the inception of business operations, Apple Inc. has shown underperformance of around 7% over the period which is an important aspect to market capitalization. Underperformance in any production firm seems to be a major challenge which ought to addressed with immediate effect. This can lead business shut down if the status becomes severe. In recent years approximately 4.4% drop in revenue has been encountered in the firm as a result of a decrease in iPhone sales over the period (NASDAQ, 2017).
Training Plan to Remediate Underperformance
To incorporate a change in the organization, bottom-up communication becomes vital goal to be pursued by the management. As a matter of fact, new skills are imparted to the workers hence improve in quality and reduced production cycles. An excellent training model must have five steps namely; first understanding the areas underperforming, planning and preparation, execution and lastly assessing to gauge its functionality. This plan seems to restate Apple Inc. to uplift its underperformed areas (Denton, 2017).
Review of System Processes and Work Methods
Apple's Product Development Process might be a standout amongst the best outline handle at any point actualized. The step is to design layout at the forefront; design teams are separated from the large company, reviewing and lastly packaging of the product ready to the ready (IDF, 2012).
Key Explanations in Implementing Process
Plan goals and objectives need to be communicated to the recipients through the right channel like print or online at the start of the operation. The staff ought to be up to the tasks infirm. In developing performance reports, the message needs to be precise mainly for the recipients to understand quickly.Graphic rating scale method was employed in tracking the performance. More important, production variances were identified through revenue checks. Lastly, recommendations of more improved models become paramount to Apple Inc.
Csiszar, J. (2017). How to Increase Brand Awareness for a Product. Retrieved from Chron: https://smallbusiness.chron.com/increase-brand-awareness-product-41158.html
Denton, P. (2017). Report to UN Environment Major Groups and Stakeholders, Region of North America.
IDF. (2012). Apple’s Product Development Process – Inside the World’s Greatest Design Organization. Retrieved from Interaction Design: https://www.interaction-design.org/literature/article/apple-s-product-development-process-inside-the-world-s-greatest-design-organization
Marketing-Minds. (2016). Apple's Branding Strategy. Retrieved from Marketing minds: https://www.marketingminds.com.au/apple_branding_strategy.html
NASDAQ. (2017, Feb 21). Apple Inc. (AAPL) Company Financials. Retrieved from Nasdaq: https://www.nasdaq.com/symbol/aapl/financials?query=income-statement
Rousseau, M. B. (2015). Organizational Narcissism: Scale development and firm outcomes. Journal of Organizational Culture, Communication, and Conflict, 19(1), 159.
Rowland, C. (2017). Company Analysis: Business Potential & Performance. Retrieved from Panmore: https://panmore.com/apple-inc-operations-management-10-decisions-areas-productivity