Individual Strategic Management Essay Example | Topics and Well Written Essays - 1250 words

Individual Strategic Management - Essay Example The last part of the paper looks at one solid strategic management recommendation for the company. â€Å"Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store and it also offers iPhones and iPads† (Blodget, 2013). Its mission statement is: â€Å"We want to leave the world better than we found it.† The company is comprised of a variety of stakeholders and these are individuals or groups of people who have a stake in the operations of the company. The employees, suppliers, distributers as well as management of the company are the stakeholders who directly control its operations. The shareholders and consumers are also major stakeholders of the company since these contribute towards the revenue it generates from its operations. Ordinary people in the environment in which the company operates are also stakeholders since they are affected by its operations. The government and other regulatory bodies are also stakeholders for this organization. The external environment of the company can be analysed through the use of Porter’s five forces model which comprises of the following factors: barriers to entry by competitors, threat of substitute, bargaining powers of buyers, bargaining powers of suppliers and rivalry among the existing players (http://www.12manage.com/methods_porter_five_forces.html). The mobile communication technology industry is capital intensive hence it may not be that easy for other new entrants to penetrate the market. This means that barriers to entry are high which cushions Apple in its operations. This mainly depends on the buyers’ ability to influence the price. Apple products have premium prices which mean that the customers have little influence to change them. The products offered by Apple are specifically meant for the rich and affluent people. The bargaining powers of suppliers