Microsoft Word - Assignment 2.docx T3 2020: ICT275 Innovation and Technology Management Assessment 2 Topic: Case Study Assignment Submission: Submit the Report on Moodle by 23:59 on Sunday 13 December...

T3 2020: ICT275 Innovation and Technology Management Assessment 2
Abstract
The present study discusses in detail the technological innovations of the company Apple Inc. This US-headquartered company operates worldwide. The company has secured its place as one of the top five most innovative companies according to the BCG list of top 50 most innovative companies of 2020. This multinational technology company operates in the business area of developing, designing hardware products such as media and communication devices, software products such as - OS X. The present study discusses in detail the core business activity, the value proposition, the innovation type used by the company. The present assignment also discusses the extensive focus the company puts on research and development and how research and development cater to the innovation of the company. Innovation is at the heart of the company’s products, product designs, business model, marketing strategy, and the association with the word ‘technological innovation’ is what gives the company a unique identity. The importance of innovation in developing the brand image and customer perception is also discussed in the study in detail. The launch of the product Mac in 1984 brought fame to the brand. The innovative and unique software used in the product drew the attention of the consumers. The launch of products such as - iPhone, iPod, iPad, Apple Watch, and others strengthened the fact that the company significantly focuses on innovation. The report discusses in detail the technological innovations, innovation types, and innovation strategies that have assisted the company to become one of the most renowned names in the IT/IS technology sector.
Table of Contents
Core Business Activity, Innovation, and Value proposition    4
Competition and Innovation    4
Innovation, Research, and Development    5
Factors Affecting Firm’s Innovation Success:    5
Aspects of Innovation in Apple Inc    5
The Firm’s Technology S-Curve and Stage of Business on the S-Curve:    6
Innovation and advantage    7
Reference List    8
The company selected for this assignment is Apple Inc., the US-headquartered technology company.
Core Business Activity, Innovation, and Value proposition
The company is a well-known company belonging to the technology sector. The business activity of the company involves - manufacturing, designing, and marketing media and communication devices such as mobiles, personal computers (PC), digital music players. The product line of the company includes - iPhone, iPad, iPod, iCloud, Mac, Apple TV, Apple Watch, Apple Pay, and other services and products.
The value proposition of a company plays a significant role in drawing customers towards that company as the ‘value proposition’ of a company helps customers to assess the value that the products and services of the company offer. The tagline ‘Think Different’ of Apple Inc. indicates innovation plays a significant role in the value proposition of the company. According to Boston Consulting Group, Apple Inc is the world’s most innovative company. iPhone, the highest selling product of the company is embedded with a computer operating system, application programs, multi-touch interface, and other innovative features. The innovative technology used in the product iPod is considered to have reinvented the digital music business industry. Innovation is not limited to its products, innovative strategies have a significant impact on the sales and marketing of the company. All these indicate innovation plays a crucial role in the value proposition of Apple.
Competition and Innovation
The market value of the company reached a figure of $1.59 trillion in June 2020. At present, the...