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Pages:
5 pages/≈1375 words
Sources:
8 Sources
Style:
Harvard
Subject:
Business & Marketing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 21.6
Topic:

Relationship Between Innovation and Firm Performance on Apple Inc.

Essay Instructions:

You will need to write an individual report based on my PowerPoint, which my group chose for theme 5,individual report of 1500 words (±10% = 1350-1650 words). There are notes below the ppt and I've screenshotted them all for your viewing pleasure. Thank you.

Group Project

Your task is to choose a case study relating to a contemporary business issue based on the relevant theme you have been allocated by your tutor. Each group is expected to do a 7-10 minutes presentation to staff and students in your Seminar group. Each group will be assessed and graded based on the PowerPoint presentation: (Each group member will receive the same grade for the group project). Note: Remember to give a copy of the PowerPoint to your tutor before the start of the presentation. (See the marking Criteria Sheet for allocation of marks per section) Presentations would be delivered on the following themes:

THEME 1: Globalisation: free markets or state intervention and impact of Foreign Direct Investment: The impact of Globalisation on Business performance.

THEME 2: Corporate Governance: The effect of corporate reputation on firm performance.

THEME 3: Technology and its implications on Business Processes: The changing role of technology and artificial intelligence on business processes of companies.

THEME 4: Corporate Social Responsibility: The effect of contributions made by companies to the local economy they operate in.

THEME 5: Innovation: The influence of innovation on firm performance.

Guidance for the Group project- 30% Contemporary Business Issue analysis of an Organisation You need to complete a contemporary business issue analysis on an organisation of your choice. The following represents the different elements you will need to consider in this assignment: a) Identify a key contemporary business issue in relation to your chosen theme. Conduct a critical analysis in which you clearly identify a specific business issue relating to the theme of your chosen organisation (considering macro-environmental and competitive factors). The contemporary business issue may involve such matters as: technological advancements; political pressure; changing consumer taste; new competition in the marketplace; changing legislation; etc. To highlight the contemporary business issue, your report should apply a number of the theories and concepts from the course, with justification for their use (10% of total marks). b) Evaluate your organisation’s ability to respond In relation to a), you will then need to critically analyse the impact of the contemporary business issue on the organisation’s strategic capabilities and assess their ability to respond to the contemporary business issue you identify. Here it is important that you consider any opportunities, challenges and tensions the issue may cause within the organisation and industry. Examples of such impact may include: changing/emerging stakeholder relationships; dynamics in the operating environment; implications for the value system/resources; implications for organisational culture; etc. (10% of total marks). A further 5% is awarded on the basis of communication and presentation, and another 5% awarded based on appropriate use of evidence and referencing. Note: You should choose an organization which is currently active and for which you are able to access publicly-available information in support of the points you make in the assignment. We will discuss the most important considerations in choosing your organisation in the lectures and tutorials.

Essay Sample Content Preview:

THE INFLUENCE OF INNOVATION ON FIRM PERFORMANCE: A CASE STUDY OF APPLE INC
Name
University
Due Date
1.0 Introduction
Innovation has been a critical driver of economic growth and competitiveness in the contemporary business world. For firms seeking to stay ahead of their competitors, innovation has become a necessity rather than an option. In the technology sector, innovation is particularly vital since technology evolves rapidly, and firms that fail to innovate risk losing their competitive advantage. Apple Inc. is one such company that has managed to stay at the forefront of innovation, and its success in developing and commercializing innovative products has made it one of the most valuable companies globally. This essay aims to analyze the relationship between innovation and firm performance, with a specific focus on the case of Apple Inc. The study will explore the impact of technological advancements on the strategic capabilities of the company and assess its ability to respond to the challenges presented by innovation. Additionally, the opportunities and challenges associated with innovation will be examined to provide a comprehensive understanding of the role of innovation in firm performance.
2.0 Rapid Technological Advancement
The rapid pace of technological innovation and the increasing adoption of digital technologies, particularly the internet of things (IoT) and the rise of artificial intelligence (Dauvergne, 2020), have been disrupting and transforming various industries, including the technology industry. This digital transformation has created both opportunities and challenges for firms such as Apple Inc. to remain competitive. The IoT has enabled the development of new products, services, and business models, further intensifying competition in the industry. Additionally, the COVID-19 pandemic has accelerated the digital transformation of various industries, increasing the pressure on firms to innovate and adapt to these changes.
To analyze the impact of the IoT on firm performance, the resource-based view (RBV) and dynamic capabilities perspectives can be used. The RBV emphasizes the importance of a firm's unique resources and capabilities in achieving sustainable competitive advantage. In the context of the IoT, a firm's ability to leverage its data and technological capabilities to develop innovative products and services can give it a significant advantage over its competitors (Ray, Muhanna, & Barney, 2017). Apple's strong brand, technological capabilities, and loyal customer base can be leveraged to develop innovative products that capitalize on the IoT. The dynamic capabilities perspective, on the other hand, focuses on a firm's ability to adapt and respond to changes in the business environment (Teece, Pisano, & Shuen, 1997). In the context of the IoT, this means that firms such as Apple must continuously innovate and adapt to new technologies, customer preferences, and market trends. Apple's strong culture of innovation, research and development capabilities, and ability to rapidly launch new products can enable it to capitalize on the opportunities presented by the IoT and mitigate the threats posed by increased competition.
3.0 Influence on the Issue of Strategic Capabilities...
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