Innovation Strategy

Apple’s Innovation Strategy

Team B

STR/581

3/20/2011

Keith Watts

Innovation Strategy

Apple has put itself in a position to be used as a learning tool for innovation over the past several years. Apple has increased revenue more than 400% and increased profits more than 650% in the past eight years (BlogSpot.com, 2010). Most notable for these accomplishments is none other than Steve Jobs. There is an old saying that I keep in my tool box. That is “attitude reflects leadership”. Through his leadership, Steve Jobs has created a culture at Apple that is rivaled by none. Simply put, Apple’s innovation strategy is customer centered innovations. Many companies say that but few really get it right. But one can say that Apple has gotten it right. In monopolistic fashion, Apple has taken the PC, the cell phone, and digital music and created a unique experience for the customer to enjoy that has yet to be cloned or duplicated by any of Apple’s competitors (SAP & ERP Consulting from the Customer Point of View, 2009).

Apple has a noteworthy innovation strategy. They are known as the number one innovative company in the world.  Some examples of their products are iPads, iPhones, iTunes, Mac Books, and many more. According to Innovation Main (2007-2011), they innovate through creativity, products, innovative business models, customer experience and leadership. There primary focus is on consumer focused innovation. Their innovation strategy has allowed the company to have a tremendous competitive advantage over their competitors.

At the commencing of any new product idea at Apple, they must go through three evaluations: user-experience, marketing, engineering. During this evaluation, the three areas are required to complete requirement documents. Once these documents are completed, a board of executives reviews them for approval. If the product is approved, a budget is given to the design group and a project manager will be assigned. Once this is given, the team...