Identify the mission statement for the organisation. Explain what a mission statement is and the importance of having one.
Answer:
Purpose of Study
Identification of the mission statement of the organization.
Importance of the mission statement.
Strategic plan of the organization.
Operational Plan of the organization.
Objectives in the operational Plan Development and implementation of HR strategy in recruitment.
Development and implementation strategies for optimum utilization of Physical resources.
Importance of Intellectual Property Rights in Apple
Importance of Mission Statement
Apple as a company keeps on changing its Mission statement according to the changing industry dynamics and the technological landscape(Babnik et. al., 2014).
The mission statement of Apple is an indication of what the company does and its future business strategies.
It defines the future state of the company, and establishes its current product offering.
The mission statement of company becomes the culture of the entire organization(Campbell & Tawadey, 2016).
Strategic Plan of Apple
Push the envelope of its Product and services for the customers.
Improving the design specification of its mobiles, tablets, I pads and other devices(Hill, Jones & Schilling, 2014).
Expand the production rate in China to meet the growing demand.
Come up with a new device every year in all of its category.
Leverage the growing economy of emerging markets like India and increase its revenue share(Davila & Epstein, 2014).
Design products for penetration in the Mass segment audience.
Importance of Resource and Service Allocation.
IPR-IPR are important to patent the technology, design, logo and other important dimension to help in counterfeiting.
Optimum utilization of resources for good return on Investment.
Creation of qualified Talent pool for sustained growth of the company.
Optimum usage of Financial resources towards increasing the brand awareness, manpower allocation, marketing & promotions and product development(Maine & Nguyen, 2017)
Conclusion
Apple is one of the Largest Tech companies in the world which has been wining the hearts of not only the Brand loyalists, but tech experts, geeks and professionals across the globe.
Apple in order to combat with the Chinese market has to focus on its Pricing strategy.
Apple has to be more innovative and extend its wings in towards market research and focus on emerging economies like Asia for enhanced growth.
The company’s policies and procedures are crafted by the Senior management in close co-ordination with the Departmental Heads.
References
David, F.R. and David, M.E., 2016. BENEFITS, CHARACTERISTICS, COMPONENTS, AND EXAMPLES OF CUSTOMER-ORIENTED MISSION STATEMENTS. International Journal of Business, Marketing, & Decision Science, 9(1).
Babnik, K., Breznik, K., Dermol, V. and Trunk Širca, N., 2014. The mission statement: organisational culture perspective. Industrial Management & Data Systems, 114(4), pp.612-627.
Campbell, A. and Tawadey, K., 2016. Mission and business philosophy. Elsevier.
Hill, C.W., Jones, G.R. and Schilling, M.A., 2014. Strategic management: theory: an integrated approach. Cengage Learning.
Davila, T. and Epstein, M., 2015. Leading the Startup Corporation: The Pursuit of Breakthrough Innovation in Established Companies. In Shaping Entrepreneurial Mindsets(pp. 38-58). Palgrave Macmillan, London.
Nagle, T.T. and Müller, G., 2017. The strategy and tactics of pricing: A guide to growing more profitably. Routledge.
Pisano, G.P., 2015. You need an innovation strategy. Harvard Business Review, 93(6), pp.44-54.
Cascio, W., 2018. Managing human resources. McGraw-Hill Education. Maine, J.A. and Nguyen, X.T., 2017. The Intellectual Property Holding Company: Tax Use and Abuse from Victoria's Secret to Apple. Cambridge University Press.
