Apple's Mission Statement

Topics: Apple Inc., IPhone, Mac OS X Pages: 7 (2073 words) Published: November 29, 2012
Apple Inc. is an American multinational corporation founded in 1976 with 361 retail stores worldwide as of January 2012. The current CEO of Apple is Tim Cook and the current Chairman is Arthur Levinson. Its headquarters is situated at: 1 Infinite Loop

Cupertino, CA 95014
United States

Apple’s mission statement is:
“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. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.” [ (Apple Inc. - Frequently Asked Questions, 2012) ]

Products and Distribution
Apple’s prime function is the design and marketing of products such as consumer electronics, computers, and computer software, including: * iPhone
* iPad
* Mac
* iPod
* iOS
* Apple TV
* iCloud
* Mac OS X
Apple also offers various third-party accessories, digital content and applications compatible with its own products. Apple sells these and its own products through various distribution channels including: * retail stores

* online stores
* direct sales force
* third-party cellular network carriers
* wholesalers
* retailers
* value-added resellers

Apple’s products and services are sold to a wide variety of customers including: * consumers
* small and mid-sized businesses
* education
* enterprise
* government customers
Customers and Market Expansion
Apple has a loyal customer base, with regular customers accounting for a large percentage of sales. However, Apple is always looking to expand into new market areas through the creation of new products and marketing techniques. For instance, Apple is considering the creation of an Apple Bank, with a recent survey showing that 43% of the current Apple customers would switch from their current banks to Apple. Apple also recently delved into the electronic book industry, over which it now faces a lawsuit for colluding with other companies to raise the price of electronic books. Shares

1,748 institutions currently hold Apple shares. Due to its recent success, reflected in its no. 1 position in BrandZ’s 2011 list of the 100 most valuable brands in the world, Apple has amassed US$98 billion, and has therefore decided to pay a quarterly dividend of US$2.65 a share to investors starting from July 1, implying a 1.8% dividend yield based on a current share price of around US$600. Apple is also planning to repurchase US$10 billion in shares over a three year period starting from September 30. The total cost of these planned operations amounts to roughly US$45 billion. Employees

Apple has over 60,000 employees, and this number is increasing rapidly due to the company’s high employment rate. The research and development department is relatively small, with most staff employed in general and administrative roles – approximately 60% of Apple’s employees work in Apple Stores, compared to other companies in the same industry of similar size. Most Apple employees have more than 5-10 years of work experience, but the level of education is not a crucial deciding factor in employment - the amount of graduates hired without masters or doctoral degrees is significant. Environmental Impact

Apple has long been the subject of criticism over its environmental impact. In 2007, Steve Jobs penned an open letter promising to remove toxic materials from Apple’s products, and that promise has been fulfilled since then, with toxic substances being removed from Apple’s whole array of products. However, Apple is still criticised often over its impact on the environment. In a list released in April 2011 by Greenpeace, Apple was deemed the least green technology company due to its high reliance on coal power. Apple published a breakdown of its carbon footprint in...
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay about Mission and Vision
  • Mission Statement Essay
  • Mission statement Essay
  • Mission Statement Essay
  • Mission Statement Essay
  • Value of Mission and Mission Statement Essay
  • Mission Statement Essay
  • Mission Statements Essay

Become a StudyMode Member

Sign Up - It's Free