Apple Inc. Essay

361 WordsApr 28, 20122 Pages
From most competitive to least competitive, the four basic competitive market structures are: perfect competition, monopolistic competition, oligopoly, monopoly. An Economic Question: If you imagine a competitive market structure continuum, with perfect competition on the far left and monopoly on the far right, where would you place Apple? Apple, Inc. is on the leading edge of technology and customer satisfaction. The Apple brand name is known world-wide. In addition to notoriety, they have employees and stores in over 15 countries. Their strong business sense has set the bar high for their competitors, in regards to both profitability and sustainability. They are currently at the top of all markets and have continually increased profits year after year. Apple has a strong foundation formed on many factors. In this paper, we will explore those factors, as well as their strengths and weaknesses. We will also point out the key factors and make recommendations on what we feel would benefit the future of Apple, Inc. Introduction Steve Wozniak, then 26 years old and Steve Jobs, 21, both college drop-outs, wanted to start a company, but they didn’t know what to name it. Jobs had worked during the summer at an apple farm and he believed that the Apple was the most perfect fruit. As he and Wozniak were trying to figure out a name for their company, Jobs suggested Apple. They decided that if they couldn’t think of anything better by the end of the day, they would choose Apple. Well, they couldn’t think of anything better so on April 1, 1976, Apple Computer was founded. Their partnership actually began several years earlier when Wozniak, a talented, self-taught electronics engineer, began building boxes that allowed him to make long-distance phone calls for free. Together, Wozniak and Jobs sold hundreds of those boxes. In 1976, Jobs and Wozniak sold their most

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