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External factors Apple Inc.

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factors that may influence apple inc
nynke.dijkstra
Mind Map by nynke.dijkstra, updated more than 1 year ago
nynke.dijkstra
Created by nynke.dijkstra over 6 years ago
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External factors Apple Inc.
  1. Stakeholders
    1. A stakeholder is anyone with an interest in a business. Stakeholders are individuals, groups or organisations that are affected by the activity of the business. Some external stakeholders are: society, government, creditors, customers and competitors.
    2. Technology
      1. As technology changes forever, businesses will have to adjust their technology to this and develop new technology too.
        1. '’Today's changes in technology, changes in the way we perform work, and where and how we work are occurring at a rapid pace. Nowhere is the change more evident than in the use of computers. This new technology has brought on new demands for information as well as new and more sophisticated computing systems. Today, almost every one of us interacts with computers on a daily basis to create new things and ideas.’’ (apple.com, 2015) Apple will need to continue to improve their existing technology and come up with new findings and ideas to keep their customers excited and in order to gain new customers.
      2. Trends
        1. Businesses need to look at what is ‘trendy’ at the time and keep this in mind when developing their products.
          1. What do people like at the moment? What is ‘trendy’? What is new? Apple needs to think of these questions to make sure their target groups will buy their products. The products apple produces will all go through the product life cycle. In image 3 in the appendix is the product life cycle of some Apple products shown.
        2. Demographic
          1. A company needs to keep in mind the demographic factor that play a role for their target group when developing products. Some demographic factors are: age, gender and education.
            1. When Apple is coming up with new products or when they want to sell existing products, they need to take these factors into consideration before launching & promoting them.
          2. Government policies
            1. In every country there are certain laws and policies which restrict businesses. ‘’The government can influence business in a number of ways. A certain amount of legislation is aimed at business in order to protect stakeholders. Health and safety regulations are designed to protect employees in the workplace.’’ (Hall. D. et al, 2004, p22.) Other ways the government influences business are: environmental legislation and economic policies such as interest rates and taxes.
              1. As apple is located is many countries around the world, they have to deal with differentiating laws and legislations.
            2. Competition
              1. Businesses who offer similar products could be a threat.
                1. Apple’s main competitor is Samsung. To make sure they stay ahead of Samsung, Apple has to make their products and services better than Samsung’s. An example of Apple trying to stay ahead of Samsung was mentioned in an article on business-standard.com; ‘’As Apple Computer prepares, with the forthcoming launch of the new iPhone 6s in India, to challenge Samsung’s dominance of the Indian smartphone market, a recent ruling from an American court adds a new dimension to the ongoing four-year battle for intellectual property rights between the consumer electronics giants.’’ (business-standard.com, 2015)
              2. Customers
                1. '’Customers are not ‘members’ of businesses, but they are vital to their survival. Customers buy the goods and services that businesses supply.'' (Hall. D. et al, 2004, p21.)
                  1. Looking back at internal business factors again customers have certain needs and wants which Apple needs to try to provide them from when it comes to the products they sell.
                2. Geographic
                  1. A company needs to keep in mind the geographic factors that play a role for their target group, for example: the location, weather & climate and culture.
                    1. Apple Inc. is located in a lot of countries around the world, but their products stay the same. The factor that they change in their selling process is how they market it in every country. So when Apple is coming up with new products or even when they want to sell existing product, they do need to take the geographic of that country in consideration before launching or promoting them.
                  2. Media
                    1. Media can affect the way in which customers view the company by publishing about them, this could be either be in a good or in a bad way.
                      1. An example of bad publishing which affected Apple Inc. are the articles and videos about their Fox Con fabric in China. BBC's ''Apple 'failing to protect Chinese factory workers''' article is one of these articles. (bbd.co.uk, 2014)
                    2. Social class
                      1. A person's spending behaviour depends on their social class; how well educated they are and how much their income is. Businesses should keep this mind when selling their products to make sure they are targeting the right group of people.
                        1. Apple Inc. products are not cheap but since Apple Inc. produces varied versions of the same product (for example the iPhone), there are products suitable for different social classes. An article from 'Businessinsider' states that Apple has divided the world into two classes: Gold iPhone people and plastic iPhone people. (businessinsider.com, 2013)
                      2. Globalisation
                        1. Globalisation has a big impact on businesses in different ways. As a result of Apple Inc. being an international company, they face more competition. Also the exchange of technology and knowledge between different countries and businesses is a factor that affects Apple Inc.
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