Question

Give an example of an industry (or a company) that, you think, has successfully competed with foreign competition. Briefly explain.

Answer 1

Apple has been Established in 1976, and under the leadership of Steve Jobs, the company Apple has succeeded to become an industry leader in the market. Apple’s Five Forces analysis (Porter’s model) continues to address competitive rivalry and the bargaining power of buyers or customers, which are among the most significant external factors impacting the firm industry environment. The primary goal of Apple is to enhance its market power by raising demand for its particular product through advertising, product differentiation, developing brand loyalty, and "hype". Apple maintains the position in the market because of high cost and difficult to any potential competitors to enter the company which mean there are entry barriers.

The corporate mission of Apple Inc.’s has changed over time. It is due to the consideration of the changing business landscape, which impacts the possibilities of what the business can do. The company recognizes the industry environment and changing market. Apple's main fundamental difference between current ideals and its founder's vision is that Jobs considered Apple products as a tool to improve the life's quality for mankind, but in contrast, current mission of Apple sees its products not as a tool for human advancement its reason for being. The corporate mission and vision statements of company motivate it's employees for their support and contribute to innovation for competitive advantage. Apple’s current mission statement states - Apple designs Macs that are personal computers world-wide, along with OS X, iWork, iLife, and professional software. It also leads the digital music revolution with its iTunes as well as iPods online store. The company has reinvented the mobile phone with its revolutionary iPhone and App store, and also putting efforts to define the mobile media and computing devices future with iPad. Due to these efforts Apple has successfully competed with foreign competition