Research and Evaluation

[Name of the Institute]Research and Evaluation

Introduction

Apple Inc. is a global company that is leading the industry of technology. It has adopted the Blue Ocean strategy for majority of its products. Its strategy has helped it towards growing in the right direction. Due to this, Apple has been able to sustain its success since its inception. This is the reason why Apple is optimistic about its future prospects. Several factors have played their roles in bringing success to the organization. The foremost factor amongst those is the total control of Apple over its products. Apple's innovative strategy is discussed in detail in this report.

Apple

Apple Inc. has held the number one position among innovative companies of the world in the last decade. It has topped the Boston Consulting group`s list of the most innovative companies of the world for third year in a row since 2007. This type of staying power speaks for itself about the type of innovation that is required today. The invention of iPod symbolizes innovation sensibilities of today's world. These sensibilities consist of design ascendance, emphasis on experience of users, and the ecosystem power. The iPod has become a hit due to the reason that it works completely seamlessly with the software of iTunes.

Innovative Strategy

Majority of the models of strategy emphasize on gaining advantage over the competitors. Blue Ocean strategy is different from those models. It is a simultaneous pursuit of low cost and differentiation (Hough et.al, 2010). This strategy executes itself at the stage of product development. It emphasizes on establishing brand new markets. With strategy of Blue Ocean, a company does not focus on beating its competitors or being better than them. Instead of that the company emphasizes on making the competition hold no importance to its business. Therefore, Blue Ocean is defined as uncontested marketplaces where the new requirements of new or existing customers are met.

The Blue Ocean strategy`s objective is to promote the aspect of innovative thinking (Buisson & Silberzahn, 2010). This is due to the reason that competitors are not considered as benchmarks in this type of strategy. Instead of that, the main concentration is on determining new opportunities and markets beyond the boundaries of current market.

The kind of sheer and pace consistency at which Apple has created the strategy of blue oceans in the last decade is ominous. The best example of strategy of Blue Ocean is the launch of iPhone by Apple. Before iPhone was launched, a number of analytics a critics predicted the failure of Apple in the market of handsets. Entrance of iPhone in the handset market drastically redefined the market. This was due to the fact that the product was designed in a way that it was extremely user-friendly, and therefore extremely desirable. These well-designed handset attracted enormous amount of people towards it. Apple applied the Blue Ocean strategy to this product by creating a totally new product for the market.

Implications of the innovative strategy on growth

Apple continues to make use of its brand, design and ...