Based on the Apple’s case, one of the central challenges was to stay competitive in the market. Apple Inc. was competing with Microsoft, and iPod was losing its market shares. It could be assumed that increasing the firm’s recognition and facing an intensive rivalry by implementing innovative products are the challenges that Apple Inc. has to face after the death of Steve Jobs.
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One of the recommendations is the focus of the company on the innovative solutions. In this case, the firm can develop something new. Living in the era of modern technology requires adapting to the changes quickly. Consequently, focusing on research and development and marketing at the same time will help the company to overcome the competition and regain its market share. In this instance, expanding the product lines and using new concepts in marketing campaigns are the major direction the company should pursue. The Board of Directors should increase the budgeting for these activities, but the company’s overall strategy will be the same.
Table 1 presents pros and cons of implementing the proposed recommendation. This analysis will be used to present results to the Board of Directors.
|The company can increase its market share by focusing marketing campaigns.||One of the disadvantages is the need to distribute the expenditure in the firm. It will require time and involve additional costs.|
|With the development of R&D, Apple Inc. can occupy a new market niche.||Implementing this recommendation might increase the overall expenditure.|
|Using these strategies will help increase Apple’s revenue and restore company’s image.||Alternatively, introducing this change might require to restructure the company and change its organization.|
Table 1. Pros and cons.