Apple has been around since 1971, but it hasn’t always been on top. For years Apple lived in the shadow of Microsoft and at times it seemed to disappear completely underneath the powerhouse corporation. But as all MBA students know, business is all about rising above the competition and often success means never giving up despite venture failures. Apple is a perfect example of that as its history is full of ups and downs.
After Apple II was created in 1977, Steve Jobs, co-founder, was worth $100 million at just 25 years old. But as sales of the Macintosh went down, John Sculley, the then CEO and whom Jobs often clashed with, took over the board in 1985 leaving Jobs to resign. From there, Jobs went on to discovering the NeXT computer, producing Software and Hardware, and buying The Graphic Group—later renamed Pixar and sold to Disney for $7.4 billion. In 1996, Apple purchased NeXT and their software became Mac OSX, bringing Jobs back on board as CEO of Apple. With Jobs’ leadership, Apple’s value and popularity had exploded with successful launches of the iMac, iPods and iTunes.
As far as one can see, successes and failures have done nothing but help to develop this company’s resilience, proven by the fact that Apple has recently taken over Microsoft as the most valuable technology company in the world. It is well known that Apple is no poor salesmen when it comes to desktop and laptop computers. But now with outrageous sales of iPods, iPhones, and iPads, Apple is estimated to be worth $300 billion. Curious as to what you as a MBA student can learn from this innovative company? Here is some information on how Apple got to be the successful business it is today.
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