Report title: How important is innovation and enterprise to today’s businesses?
F.A.O. Economic Development Unit (EDU)
Written by: Amy Louisa Riley
Date: 29/11/2020
Innovation and enterprise have played a crucial role in the success of Apple as a company as
overall as well as with regard to the individual markets in which it operates and with regard to
each product that it has brought out within those markets. Innovation can be defined as the
introduction of something new whether that be new products or services, new ideas, or
additional functions to products which may make them better or otherwise make them
different from the competition. Enterprise is the willingness to undertake new projects; having
the energy and initiative to think differently, and the intuition to identify new opportunities and
to exploit them.
(M5) Analyze how successful the use of innovation and enterprise has been for Apple
Apple is widely considered to be the number one innovative company in the world because
its innovation strategy involves great new products such as air pods. Apple is also known for
innovative new business models. It produces great software, which are beautifully presented.
Apple also has a reputation for finding new business niches and creating new market spaces.
Some super innovations which Apple has created are iTunes, iPhone, and iPad. As leaders in
innovation Apple relentlessly pushes the pace of innovation and competitors are often left
having to catch up with whatever Apple introduces as its latest product or upgrade.
An example of an innovative model used by Apple is the app store, which is the largest
collection of mobile applications of any company and iTunes, which is innovative software.
These are the main reasons for the huge success of iPhone and iPod. All in all, these innovations
help Apple to create, deliver, and capture the values of their products and sustain and grow
their brand. Apple constantly works over all the markets in which it is involved and pushes into
new markets in order to create a successful innovation friendly ecosystem. In the fats changing
tech markets in which Apple operates they dictate that to be successful a company must
innovate. If Apple fails to innovate, change, and adapt to meet those circumstances it would
lose its position as number one in the tech market globally and most of the subdivisions of that
market. It would therefore not be able to survive as the competition is intense, but Apples
commitment to innovation is cultural, not process driven. The most successful products of
Apple were started with only a few people with no formal structure or hierarchy and little
corporate oversight. Steeve jobs has advised however, “to turn really interesting ideas and
fledgling technologies into a company that can continue to innovate for years it requires a lot of
disciplines”. Apple has built an effective innovation system to harness creativity in its people
and to stimulate new ideas. In its design process Apple has repeatedly demonstrated with
F.A.O. Economic Development Unit (EDU)
Written by: Amy Louisa Riley
Date: 29/11/2020
Innovation and enterprise have played a crucial role in the success of Apple as a company as
overall as well as with regard to the individual markets in which it operates and with regard to
each product that it has brought out within those markets. Innovation can be defined as the
introduction of something new whether that be new products or services, new ideas, or
additional functions to products which may make them better or otherwise make them
different from the competition. Enterprise is the willingness to undertake new projects; having
the energy and initiative to think differently, and the intuition to identify new opportunities and
to exploit them.
(M5) Analyze how successful the use of innovation and enterprise has been for Apple
Apple is widely considered to be the number one innovative company in the world because
its innovation strategy involves great new products such as air pods. Apple is also known for
innovative new business models. It produces great software, which are beautifully presented.
Apple also has a reputation for finding new business niches and creating new market spaces.
Some super innovations which Apple has created are iTunes, iPhone, and iPad. As leaders in
innovation Apple relentlessly pushes the pace of innovation and competitors are often left
having to catch up with whatever Apple introduces as its latest product or upgrade.
An example of an innovative model used by Apple is the app store, which is the largest
collection of mobile applications of any company and iTunes, which is innovative software.
These are the main reasons for the huge success of iPhone and iPod. All in all, these innovations
help Apple to create, deliver, and capture the values of their products and sustain and grow
their brand. Apple constantly works over all the markets in which it is involved and pushes into
new markets in order to create a successful innovation friendly ecosystem. In the fats changing
tech markets in which Apple operates they dictate that to be successful a company must
innovate. If Apple fails to innovate, change, and adapt to meet those circumstances it would
lose its position as number one in the tech market globally and most of the subdivisions of that
market. It would therefore not be able to survive as the competition is intense, but Apples
commitment to innovation is cultural, not process driven. The most successful products of
Apple were started with only a few people with no formal structure or hierarchy and little
corporate oversight. Steeve jobs has advised however, “to turn really interesting ideas and
fledgling technologies into a company that can continue to innovate for years it requires a lot of
disciplines”. Apple has built an effective innovation system to harness creativity in its people
and to stimulate new ideas. In its design process Apple has repeatedly demonstrated with
