Instructions:
In two to three paragraphs, use required course materials or other research to move the discussion forward and explain the ‘why and how.’ Do not repeat what has been stated but consistently brings in new ideas or aspects related to discussion topic to enhance discussion.
Discussion Topic:
Reflect on the firms core competency and its competitive advantage, incorporate the observations made by your classmates during the week 1 discussion. Now consider what four performance factors that are most important to monitor. Rank order them from most to least important. Justify why each performance factor should be monitored and suggest a means to monitor it.
Student’s Response: (Need to respond to this discussion)
The company I selected in week one was Apple Inc. Some important core competencies I found included that Apple Inc has strict restrictions of proprietary information which makes sure that there is no replication of its skills or secret recipe (UKEssays, 2018). Some competitive advantage features that some of my classmates found included: A marketplace for widely used applications, Apple provides outstanding customer service, creates products to fulfill the technological needs of newer generations, diverse range of products, dynamic business plan, applications such as facetime that makes communication easy and products that work interchangeably with only an iPhone such as Air pods, apple watches etc.
While Apple has a leading position, especially in the premium consumer electronics market the company must continue evolving its strategies to keep its leadership. The most important performance factor for Apple is Technological factors. Increasing technological integration in the real world and the business world is highly important for Apple to pay attention too; including the paying attention to the growing capabilities of competitors. The factor needs to be monitored because it can either enhance the company’s service abilities to customers, or it can be outsmarted by competition (Lombardo, 2019). Technological advances of other firms can threaten Apple as a company. The second most important performance factor for Apple is Social factors. The rising use and dependence on mobile access can become a topic of great interest for Apple in terms of making it in the market (Lombardo, 2019). The factor needs to be monitored because it creates opportunities for Apple to sell more products than competition based on demand for superiority alone. The third important factor for Apple is the political factors. In Apple’s environment this includes trade policies, especially between U.S. and China (Lombardo, 2019). The factor needs to be monitored because it can either increase or decrease the ability for Apple Inc. to distribute more of its products around the world. The last important factor for apple is legal factors. There are threats that can be created for Apple due to increasing privacy regulations. The government produces pressures on companies by implementing privacy in the digital age that can be difficult for businesses like Apple to maintain (Lombardo, 2019). To remain compliant with these legal changes could be costly to Apple but also allows the ability for the company to attract customers by enhanced privacy measures. These regulation changes are important for Apple to keep an eye on in order to remain within government standards and relevant in the market of privacy for customers.
References
Cook, A. (19 August 2020). Week 1 Discussion (Apple Inc.) – Allison Cook. Retrieved October 07, 2020 from https://learn.umgc.edu/d2l/le/content/512133/viewContent/19514496/View
Lombardo, J. (2019, June 09). Apple Inc. PESTEL/PESTLE Analysis & Recommendations. Retrieved October 07, 2020, from http://panmore.com/apple-inc-pestel-pestle-analysis-recommendations
Classmate’s Discussion (Response)
I agree that Apple needs to keep a close eye on the competition. Being in the consumer electronics industry requires constant product development to remain relevant and the competitors work to highlight the features they are introducing to the market in an attempt to pull market share. What Apple is very good at is commercializing these features through the eco-system their products create (Knowledge@Wharton, 2018). The company is structured in a way that makes it costly and cumbersome to switch, but the tech has to keep up.
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