Innovation and Technology Management in Apple Inc Essay

Innovation and Technology Management in Apple Inc - Essay Example Apple is fully geared to take advantage of these developments. While making radical product innovations, Apple takes the pain in quickly updating and adding incremental changes while taking feedback from the customers. At Apple, ‘Time is Essence’ while developing and launching new products in quick succession. Innovative culture has percolated downwards extensively in Apples all processes and activities. Apple takes extreme precautions in creating patents for its technology products to prevent competition taking undue advantage. Apple is equally conscious in developing its human capital. ‘Apple University’ is the brainchild of Steve Jobs to continue with the same spirit of innovations in future that Apple is known for. Apple has been consistently scoring the top place on the American Consumer Satisfaction Index (ACSI) for the last several years among all technology companies; the brand Apple has become synonymous to innovative ideas, designs and products. Apple Inc. is US-based consumers electronics company with headquarter in Cupertino, California. The company designs manufacture and sells software and hardware products such as iMac, iPod, iPhone, iPad, iTunes. Apple notched worldwide sales of $182 billion in the year ended October 30, 2014. By market capitalization (shareholders worth), Apple occupies a top place among technology companies for the last several years. Apple employs over 72000 full-time employees worldwide and operates over 425 retail stores across the world. The company is known for its innovation in design, and product development creating one of the most satisfying user experiences. The above mission statement from Steve Jobs was created when the company was in its early phase and when a great many products had not taken any shape. However, in later years, Steve Jobs proved what he meant.