In this unit, you will continue researching the company that you selected for your final project. For this assignment, you will create a new product or service line for your firm. In your analysis, include the following items:
- Provide a brief description of the product or service.
- Explain how the new product or service line fits into the firm’s strategy and new mission statement.
- Create a new organizational structure/chart for the company; explain how the new organizational structure/chart is improved.
- What are the company’s short-term and long-term goals?
You will need to reference your textbook and at least one source from the CSU Online Library for this assignment. Your case study must be a minimum of two full pages in length. Adhere to APA Style when creating citations and references for this assignment. APA formatting, however, is not necessary. In the CSU Online Library, the database Business Insights: Global (a GALE database) carries access to all kinds of individual company information, including SWOT Reports on individual companies. You can either do a quick company search in the general search box on the search page inside the database or you can first navigate through the Companies tab then to SWOT Reports to view of list of SWOT Analysis reports.
Instructions In this unit, you will continue researching the company that you selected for your final project. For this assignment, you will create a new product or service line for your firm. In your
Background Information The Fortune 500 company selected is Apple. The company is ranked number three on the list and signifies it is one of the most successful companies in the world. Apple Inc. was established in 1976 and has offices all over the world. The business is involved in producing and creating various goods, including personal computing devices, computer software, and other online services. Apple has created and maintained a well-known brand by producing top-notch, dependable, and cutting-edge goods. Vision and Mission Statement The company’s vision statement is “To make the best products on earth, and to leave the world better than we found it,” while the mission statement is “to bring the best user experience to its customers through innovative hardware, software, and services.” According to David et a. (2020), a mission statement has nine elements: consumers, technology, goods or services, markets, concern for survival, development, and profitability, philosophy, distinctive competence, care for reputation, and concern for personnel. In addition, there is also limited attention to the customer base and thus does not satisfy the essential component of a mission statement. Apple’s vision statement is succinct and describes the company’s future and how it plans to attain this future. From the vision, it is easy for a reader to picture what the company is about and determine how best to describe its purpose. The vision statement is powerful because it addresses three clear areas; it is written in the present tense and describes the process and the outcome. Revised Mission and Vision Statement Apple’s revised vision is “To lead innovation and leave the world better than how we found it.” On the other hand, the revised mission statement is “To manufacture and market the greatest personal computing devices for clients in all industries and enable employees to actively contribute to the company and facilitate the company’s core beliefs.” Rationale for Revision The mission and vision statement need to be changed to represent Apple’s distinct competencies. Regarding the vision statement, it reflects the company’s commitment to innovation. Apple has built a reputation for leading the industry in innovative and profitable solutions. Regarding the mission, it addresses a majority of the components described by David et a. (2020). For instance, it highlights core customers, products, competency, and philosophy. Notably, it also indicates the company has a concern for employees. Influence of Mission and Vision on Actions Apple’s vision and mission actively guide the company’s actions. As mentioned earlier, the company is a global technological leader. Based on the vision, the company does produce the best personal devices in the world. Considering the company’s mission, it produces the best user experience and regularly updates its products to improve quality. Influence of Culture on Motivation Apple has promoted a culture of inventive creativity (Podolny & Hansen, 2020). Apple workers are encouraged to question conventional wisdom and norms continuously. The business also has a tradition of only recruiting the finest people and firing those who fall short of expectations. The organization will also honor and recognize people who do very well. Additionally, the business upholds a culture of secrecy to prevent the theft of its confidential data. The established culture in Apple is successful at motivating employees and ensuring they operate at the highest level.