BU6603 ITM_Assignment_Aug-Nov_2014_2 Essay Example | Topics and Well Written Essays - 2000 words

BU6603 ITM_Assignment_Aug-Nov_2014_2 - Essay Example In the following sections, brief history of Apple and gradual growth of the company through technological innovation have been discussed along with role of Steve Jobs therein. Apple is a multinational corporation which was founded in 1976 by Steve Jobs, Steve Wozniak and Ronald Wayne. However, Wayne left within some period while Jobs and Wozniak continued in the business. The vision of Jobs and Wozniak was to develop a user friendly computer device and change consumers’ perception regarding computer. Wozniak developed first computer of Apple, Apple I which however did not gain much recognition. Wozniak and Jobs introduced Apple II in 1978, which was a revolutionary move as they developed colour graphics for the first time. Sale of the device grew from $7.8 million in 1978 to $117 million in 1980. Apple raised its first IPO (Initial Public Offerings) in 1980 and started trading as a public company (Mac World, 2014). In 1983, Wozniak left the company due to diminishing interest in Apple’s daily operations. In 1984, Apple developed the Macintosh which was a huge success in the consumer market. After this brief success, power struggle among executive members of the organisation resulted in departure of Steve Jobs. Absence of guidance from prominent leaders resulted in declining market share and financial problems in the firm. Steve Jobs returned as interim CEO in 1997 after Apple purchased his company, neXT. During late 1990s, expert suggested that Apple should shutdown and pay off its shareholders, but Jobs brought in turning point of the company by inducing the iMac. Following iMac, iPod was introduced in 2001 while iPhone was unveiled in 2007. In 2008, Wal-Mart’s online music store faced stiff competition from iTunes store. In 2010, the technological innovation at Apple moved a step ahead with entry of iPad (Terrell, 2008; Mac World, 2014). In 2011, death of Steve Jobs left Apple seeking direction and leadership. The