Apple Inc Chairmans Statement - Case Study Example

? APPLE INC. CHAIRMAN’S MENT College: Apple Inc. Chairman’s ment Introduction I have the pleasure of presenting Apple’s annual report of the year ended 2010. Apple Inc is an organization that has strived to satisfy the world’s demand for information technology infrastructure. During the fiscal year 2010, the company managed to come out successful amid the severe challenges in the market environment that have developed over the years in the IT industry. Today, the organization is thanking its loyal customers in the whole for providing the organization with the opportunity to be their IT developer and to push its operations amid the market challenges to become a successful investor in the ended year. Background Information Apple is a company that has a long history from the time it was started in the year 1977 to its current position in the market. All through the company has endeavoured to bring the best user experience to its customer through innovative products and services. Apple Inc provides hardware, software, services and internet services in the industry to satisfy their esteemed customer and to develop an effective IT front which is necessary in the development of the world economy. The company sells both manufactured products as well as third party goods. The organizational progressive growth for the last five years is a result of our committed customers and we expect to maintain this mutual relationship in the long term. Business Strategy Innovation has been a core competency strategy for Apple Inc. From the time when the Mac-OS developed its desktop hardware, the organization has strived to meet the demands of a dynamic IT industry. The organization has successfully deployed recent competent hardware requirements in the industry. The iPad tablet series have formed part of its innovation scheme that has continuously improved portability, efficiency, hardware capacity and seamless technology that demanded in the industry today. The organization has ventured into research to develop it to gather the consumer tastes and to develop products that satisfy the consumers. The organization allocated $1.8 billion towards research in the year 2010 as part of its strategy to satisfy its customers through research driven innovative products and services. Effective leadership and teamwork has assisted the organization to successfully deploy this strategy. Products and Services The organization seeks to satisfy the market with modern IT hardware requirements that are up to the technology demanded in the market environment. The iPhone, iPod, iPad, Mac-computers and Apple TV have formed part of the organizations focus on the digital hardware in the market environment. In addition, the organization has developed its personal software products to satisfy the unique hardware requirements of its hardware products. The IOS and Mac OS have formed part of the operating system for the organization's products. On the other hand, the company has provided application software such iLife and iWork which are integrated in the Mac-OS are professional suites that are critical in driving business operations. Apple’s customer focus includes majorly the education sector, the enterprise, government and creative market environments. Market and Logistics Apple continues to enjoy a global customer loyalty that is reflected in our business turnover for the year ended 2010. In general, the organization reported an improvement in its sales over the last five years and the project is expected to be reflected in the coming years. The company is targeting more customers each year to ensure that it remains profitable in the long term. The competition in the market has become stiff with more organization pushing their business to international levels. Nokia in the mobile industry and Microsoft in the software industry have posed a tough competition for Apple. Research and Development The management team at Apple has future prospects to expand its business operation internationally and still strives to satisfy more consumers in the IT industry. The company intends to invest more on market research in the next fiscal year as part of developing its innovation strategy. The organization has a plan to develop a large data network in California as the management team develops a strategy to differentiate into data services. The future growth of the organization will guarantee the society IT development, the customer’s efficiency in service access, the government economic development and the organization and its employees will grow eventually. Risks and Challenges Just like any other organization, the organization has come across a few market challenges that have undermined its survival. Microsoft has become a competitive force in the market especially in the software industry for the reason that it continues to enjoy dominance in the market. The mobile products have received competition from the Nokia mobile hardware company. On the other hand, the organization has faced a number of legal liabilities and customer complaints in its operations. For instance, the Chinese dealers launched complain after the company launched a rebate offer for all buyers of iPad 1 who acquired the product from its office and online branches. The organization anticipates more market risk due to changes in market forces and its reliance on third [arty supplier and software developers which are likely to influence business operations. However, the company is aware of these risks and is defining strategies to overcome them. Financial Information In the year 2010, the organization enjoyed increased revenue from its major market segments as well as the retail industry. In the American market, the high demand for iPad has triggered an increment in the sales in this region. In Europe, the net sales hit $6.9 billion, which is an increment of 58% that is more than the double value of the one attained in 2009. This development was a result of the increased revenue of iPhone and Mac Portable systems. In Japan the demand for MacBook and iMac increased the net sales to 75% compared to the 2009 value to hit $2.6 billion worth of value. The growing IT Industry in Asia-pacific pushed the net sales of Apple products with a value of $5.1 billion marking an increase of 160% compared to the 2009 value. However, there was a markable increase in sales by 47% in the retail industry, which is a reassurance of the viability of investment in this market segment. To wind up, I would be humbled to pay tribute to the late founder of Apple Inc, Steve Jobs, for laying a foundation for the entire world to grow. To the nations, our customers and the government for providing Apple with an opportunity to grow, and finally to the Apple Inc fraternity for furnishing Apple with investment strategies that have guaranteed a long term survival in a competitive market environments. Reflection on the Chairman’s Statement Description When I was requested to write the chairman’s statement for the Apple Inc, I decided to make a thorough research on financial materials that I required to include in the chairman’s report. I found the Annual report of the company rich in financial information and the organizational products and services. I found that I had to supplement the statement with a summary of a wide range of materials I found on the internet especially regarding the challenges and the competition that the organization has faced in the recent past. After this, I embarked on writing a reflection of the chairman’s statement that entailed my future report. Feeling When I was writing this report, I found it quite challenging and I couldn’t even start within the first two hours. Being my first time to write a Chairman’s statement, I felt nervous as I did not understand even the purpose of the report. After a little research on the topic, I gained some confidence to start off. However, I could not identify the formal structure of the report and I had to inquire and delve into more research. After writing the report, I felt excited for the achievement. However, I did not realize that I had made a few mistakes that I had to correct. All in all, it was a good experience and I now feel confidence to write more reports in future. Evaluation Writing the chairman’s statement taught me a few things in my scholarly life. Considering the wide range of materials I had to summarize in only 1000 words, I had to learn how to learn summary skills to be able to do this. When I submitted the report to my friends,most of them felt satisfied but pinpointed a few areas that I needed to correct. When I made corrections, I found that the quality of my report had considerably improved. As a result, I learnt the need for subjecting your chairman's report to an external reviewer so they can provide positive criticism. Analysis Being the first report, I had to struggle to follow the guidelines and I had to engage friends and more research before I could start writing. Although I might require follow the same approach in the future, it will be much easier for me as I already know what to write in a chairman’s report. Also, I will be keen to provide a better data relationship and a few tables and figures to catch the attention of the public as they read the report. Conclusion In short, writing the chairman’s report was a challenging experience especially for my first time. I had to read the guidelines clearly, summarize voluminous materials and research more. However, the experience was unique and I felt happy as soon I finally completed my report. In future, I will be excited to write a chairman’s report as I will exercise more expertise. Works Cited Foster,J., (2012). Writing Skills for Public Relations: Style and Technique for Mainstream and Social Media. London: Kogan Page. Sandra, M., (2013). How to Write Chairman’s Report. Available through: Read More