How Apple Became the World's Most Profitable Company, the Critical Success Factors Behind Apple's Success As the World's Most Profitable Company, Apple's Growth Strategies For...
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By Dr. Harrison Sachs
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This essay sheds light on how Amazon became the world's most profitable company, identifies the critical success factors behind Apple's success as the world's most profitable company, demystifies Apple's growth strategies for long term revenue growth, and reveals the future outlook of Apple in the digital era. Amid the early 2010, Apple achieved the ineffably stupendous feat of becoming the world's most profitable company. Apple was able to become the world's most profitable company for a multitude of reasons. Apple's success as the world's most profitable company in the digital era is attributed to Apple offering a broad range of products, Apple being able to command premium prices for their products, Apple offering a vast variety of services, Apple having stellar customer service, Apple having ample competitive advantages, Apple having an enormous loyal customer base, and Apple being able to be on the forefront of innovation as a multinational technology company. Apple has been able to unwaveringly maintain its position as the world's most profitable company in the digital era due to also having a presence in over one hundred international markets and due to Apple having a diversification of revenue streams beyond just generating sales revenue from selling customer electronic product. Apple's success as the world's most profitable company can also be attributed to Apple's willingness to profusely invest in research and development efforts which has ultimately allowed them on the forefront of innovation in the digital era as a behemoth of a multinational technology company. It is unsurprising as to why Apple has become the world's most profitable company in the digital era. The reasons that Apple has become the world's most profitable company in the digital era extend far beyond Apple having a robust vertically integrated supply chain which allows Apple to be able to expeditiously produce its products and release them onto the market. Apple has over five hundred Apple stores dispersed across twenty five disparate nations around the world, 272 of which Apple retail stores are stationed in the United States. Apple is still able to compete in over one hundred international markets, especially since its Application Store is available in "175 nations and regions". The application a robust application marketplace for developers to leverage to distribute their products for customers around the world to purchase. Moreover, Apple's services are available in over one hundred international markets. As of April of 2020, The Apple Music service for instance is "available in 167 nations and regions" and features over sixty million songs. As of April of 2020, The iCloud service is "available in 175 nations and regions. As of April of 2020, the Apple Podcast application is "available in 175 nations and regions". Apple's expansion into international markets have also contributed to its profound success as the world's most profitable company since it allows them to also generate revenue from international customers and not solely be limited to selling products and services to domestic customers in the United States. Apple's profound success as the world's most profitable company can be preponderantly attributed to releasing innovative product lines of consumer electronic products that are simple to utilize, have streamlined user interfaces, and provide tremendous utility to customers. People love buying innovative products that have tremendous utility. Apple's iMac products, iPod products, iPhone products, Apple Watch products, Apple TV products, and iPad products for instance are highly desirable consumer electronic products among Apple's target market. Apple's unparalleled brand...