Introduction
SWOT is the acronym for describing the weaknesses of a firm and identifying its strengths internally along with any other environmental threats. Companies use SWOT analyze their position in the market so that they may run more efficient. It is also a tool in which you can find out how a company is doing, and what a company might need to do in order to improve its strategic plan and or current standing in the market. Today we will discuss the SWOT analysis and Apple Inc’s weaknesses, strengths, threats, and opportunities.
Strengths
Since I can remember, Apple has always been the leader in was is arguably one of the bigger tech companies. Apple provides different products such as laptops, computers, phones and has done everything in their power to scrape new frontiers so that they may be able to increase their consumer base. Apple’s strengths are second to none. One of their main strengths is the logo itself. Establishing that logo took years of hard work, and solid products. Their products lines MacBook, iPhone, Air pods, and some others, have turned out to be one of the leading products lines in their respective areas. Also, Apple has been able to successfully implement innovative plans to their products, which makes them different and creative, two essential things to the formula of success. Another strength of Apple that makes them unique is the fact that they were able to create a cloud in which a user can store all their information in. When a user does this, they can access the stored information on any apple product.
Weaknesses
One of the biggest weaknesses that Apple has is their prices. Unfortunately, when you have amazing products, you have every right to have high prices. What is mind boggling is that Apple has this odd uniqueness to them. Being able to establish a high-end customer base, with little to no retailers is impressive. You also must consider that their products are not universal. An example would be MS Office products. On literally all other products that aren’t Apple, Microsoft is standard issue software. Apple does not. You must install it additionally should you choose to want to use there MS Office line.
Opportunities
One thing that Apple has never failed to do is expand their products. Apple famously started with computers, then go into cell phones, and since have been able to expand. Sales almost always have had a positive impact since all of their products share the same operating system. When you switch devices, this makes the transition smooth. Being able to connect on whichever device you’re on is an excellent commodity and provides businesses with excellent opportunity and convenience. If apple ever decided to expand their connectivity capabilities, I believe they would almost create a monopoly. With that being said, I think it would be a good Idea to expand the connectivity within their own product lines. “It’s only a matter of time before Apple adds more functions to its Air Pods, which will see them fall into our definition of smart hearables. If this happens, Apple could kick-start this device category like it shook up the smartwatch market with the Apple Watch.’ (Lamkin, 2018)
Threats
In today’s world, the technology market is growing at a rapid pace. Competition is also high enough to a point in which it forces other companies to constantly improve, develop, or update products. Although bigger companies are most popular, there are several smaller companies that are starting to emerge as contenders. Smaller companies have started producing products similar to Apples so that they can attempt to compete with corporate giant. Also, IF you think outside the box, you might be able to consider Apples image in recent years. Yes, they have a rep for the nice products. However, have you heard of the reputation they have when it comes to their manufacturing and HR practices? They manage to keep it low flying, and under the radar. However, some don’t feel the need to and call out the tech giant for inhuman acts.
Conclusion
In conclusion, Apple can be viewed as one of the leading tech companies. Apple has successfully been able to keep itself among the when it comes to cell phones, laptops, and connectivity accessories. They have grown quite well, and through the SWOT analysis the company can be examined much more. Being able to examine the company’s weakness, strengths, and other factors is essential. Use the SWOT tool for success!
References
- Lamkin, P. (2018, October 23). Smart Wearables Market To Double By 2022: $27 Billion Industry Forecast. Retrieved from https://www.forbes.com/sites/paullamkin/2018/10/23/smart-wearables-market-to-double-by-2022-27-billion-industry-forecast/#14e896742656.
- Pearce, J. A., & Robinson, R. B. (2014). Strategic Management: Planning for Domestic and Global Competition. New York: McGraw-Hill.
- Ghiyath. (2019, September 8). Apple SWOT 2019: SWOT Analysis of Apple. Retrieved from https://bstrategyhub.com/swot-analysis-of-apple-apple-swot-2018/.
