Apple Inc. New Strategic Plans Analysis Essay

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Apple Inc. New Strategic Plans
Introduction
Apple Inc. is a multinational technology company based in the United States of America that develops, designs, and sells computer software, online services, and consumer electronics. The company has created its market niche by producing hardware used in Mac product lines such as iPhone smartphones, iPods, and iPad computers. Apple Inc.'s strategic planning defines the company strategies and how they can promote competitive advantage attainment (Johnson et al., 2012). Strategic planning helps in the decision-making process concerning control and resource allocation. Apple Inc. Strategy formulation for Apple Inc. takes the form of comprehensive and cohesive analysis that involves strategic thinking synthesizing into planning activities.
New Product and design strategy
Arguably Apple Inc. is one of the most successful companies in the technology industry. The company's strategic goal is to develop new products while emphasizing design at the same time. The strategic implementation component utilized by Apple Inc. has been the main contributor to the company's success(Meyer,2019). The resource allocation in the development of new products has been well thought of, substantial, and planned. New product development with new and superior designs follows the strategic principles of understanding the enemy, who in such a scenario is the competitor. Before investing in massive projects such as new products, Apple Inc. has to research widely to ensure customers are presented with an assortment of options (Evans,2021).
By utilizing the superior capabilities that Apple Inc. possesses, the company will be able to develop more superior products than the competitors leading to valuable market segment acquisition(Dudovskiy, 2021). The standards of product quality in terms of design in Apple Inc can be attributed to the best design team. The team has been reputed for putting extreme effort into ensuring the developed products are of high standards and value. Apart from the phone, accessories, and communication ] tech-based products, Apple aims to target self-driving technology by 2024 by the production of the passenger vehicle that includes battery technology(Lienert et al.2020).
Cost leadership strategy
The cost leadership strategy highly adopted by Apple Inc. endeavors to ensure success and competitiveness in the technology industry. The management's strategies and policies help in policy formulation to lower the cost incurred in production. By lowering the production and management cost, it helps determine the Apple products prices, hence enhancing competitive edge for the company. Due to competition and dynamics in the technology industry, Apple Inc.'s cost leadership strategy has reinforced its stability(Nielson,2020). Key activities are undertaken by the company, such as management restructuring, to ensure effi...