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It's been a year, Apple is operating without its innovator Steve Jobs. This presentation is about the ups and downs that Apple has seen after Steve Jobs passed away. Mainly focussing Tim Cook, successor of Steve Jobs!
Steve Jobs - A tyrant, demandingperfection in every job, alwaysintending to deliver the best experienceto the device users. No less wasacceptable."Steve Jobs put in place at Apple aculture of innovation," Cross Researchanalyst Shannon Cross says.Survived pancreatic cancer, had a livertransplant and expired on 5 Oct’11.
Cook, an Alabaman, has been anasset to Apple since his arrival in1998.Credited with tuning Applesmanufacturing process to solvechronic product delays and supplyproblems, his inventory managementskills helped Apple build up its $73billion hoard of cash and marketablesecurities — funds that it can use tokeep its lead in the portableelectronics market.
Not as recognizable as Steve Jobs, he became the very public face of Apple, when Jobswas in consistent medical leave.A very strong track record at Apple, when in charge at 2004, Cook was promoted to ChiefOperating Officer.Then, the innovation has translated to sales.Apple sold 9.25 million iPads in a quarter, bringing sales to nearly 29 million iPads.Also sold 20.3 million iPhones in the same period, which was millions more than analystsexpected.Scheduled release of new version of iPhone and Laptop in 2009.Major Milestone: More than one billion apps were downloaded within the first nine monthsof its existence.Apples stock rose 62 per cent during that time, satisfying investors concerns over Jobsabsence.Honestly, the company thrived under Cook’s leadership in Jobs’s absence.
When stepping down from the position CEO, Steve also recommended Tim Cooktake over as the Chief Executive Officer."It was absolutely one of the saddest days of my life when Steve passed away,"Cook said with visible emotion.The companys market value, for example, is up some $140 billion since Cooktook over. At a market cap of about $500 billion, Apple is more valuable thanExxon Mobil (XOM) by $100 billion -- despite Apples shares being down 15% fromtheir peak.
Team:I am looking forward to the amazing opportunity of serving as C.E.O. of the most innovativecompany in the world. Joining Apple was the best decision Ive ever made and its been the privilegeof a lifetime to work for Apple and Steve for over 13 years. I share Steves optimism for Applesbright future.I want you to be confident that Apple is not going to change. I cherish and celebrate Apples uniqueprinciples and values. Steve built a company and culture that is unlike any other in the world and weare going to stay true to that - it is in our DNA. We are going to continue to make the best productsin the world that delight our customers and make our employees incredibly proud of what they do.Second, Apple has innovated beyond customer expectations. Over and over again, the company hascreated products that people never asked for but now cant live without. In doing this, Apple hasraised customer consciousness and expectations around the world. As the standard -bearer forelegant design Apple has changed the way we all live our lives. While the world rarely knows what itwill be, it has come to expect the NEXT BIG THING from Apple.With Steve gone the people of Apple have too much passion to let the world down. Driven by asense of cause we think Tim Cook and team will emerge to uphold the legacy of design thinking theyhelped create.Third, while Jobs set an unbelievably strong tone for Apple, astonishing the world with gotta haveproducts is a collaborative effort. The leaders, designers and engineers with whom Jobs surroundedhimself have had an opportunity to get inside Steves brain for a long time. With strong leadershipcomes thick culture. Over time the cultural DNA that has made Apple the envy of the world couldget diluted. But in the near term, we seriously doubt that it will be easy to undo the discipline thatcreated the best designs, best quality, best marketing, and best delivery of some of the worlds bestproducts.
Tim Cook Is Not a Scrooge McDuckJust a week into Cooks tenure, he started a program in which Applematches dollar-for-dollar any charitable donation made to anonprofit, up to $10,000.Apple under Cook also gave away $50 million to Stanford hospitals.By contrast, Jobs personally didnt have any public record of giving tocharity. Tim Cook has Made Apple a Ton of Money The most important thing for investors is the stock price itself. And in one year, Cook has made Apple 77 percent richer. On his first day, a share of Apple was trading for $376. And now, its trading for $667, which means Apple has an additional $353 billion. Cook has certainly guided the company to a great height.
Tim Cook Doesnt Make Employees Lives MiserableNot necessarily for every single one of Apples 60,000 employees, but there areindications that employees are happier under Cook than they were under Jobs. AsFortunes Adam Lashinsky wrote of an annual retreat for Apple’s top executives inApril, “the spirit of the meeting was upbeat and even fun - a stark contrast to thegrim and fearful tone Jobs engendered at the meetings. ”Even there are mentions inWalter Isaacsons biography of Jobs about him scolding his workers for theirincompetence. Cook, in contrast, seems like a leveler head.Tim Cook Goes to ChinaThe poor working condition in China was much talked about. This year Cook actuallytook a step and visited one of the manufacturing sites in China, which Steve Jobsnever did. Cook also asked the D.C.-based Fair Labor Association to independentlyaudit Foxconns and others component manufacturing facilities. Investigators foundthat laborers often worked more than 60 hours per week in March. Since then, Applereportedly sketched out a timeline for having workers work sane schedules.
Brain DrainOne of Cook’s problems faced was whether or not he could retain thetalent in post-Jobs Apple. He has seen a number of senior executivesand vice-presidents leave during the time Jobs took his final medicalleave. Right from the resignations of retail chief Ron Johnson, Macsoftware vice-president Bertrand Serlet, and vice-president of mobileadvertising for iAd Andy Miller. Tough Act to Follow and Impossible Expectations? There were a lot of expectations from Cook, after Jobs death. And Cook handled it well. He picked up the company and forged his own way. Hes made enough of a name for himself to claim his stake to the Apple fortune.
Keeping the EdgeCook has well kept the product lines running and also worked to make thecompanys image different. From investor dividends to matching charitabledonations, these things put Apple in the par category with most other companies.Also under his leadership, Apple won the latest patent war against Samsung.
Joining Apple"No more than five minutes into my initialinterview with Steve, I wanted to throw cautionand logic to the wind and join Apple. Myintuition already knew that joining Apple was aonce in a lifetime opportunity to work for thecreative genius, and to be on the executiveteam that could resurrect a great Americancompany.“ The “Irreplaceable” Steve To an interview with Fortune magazine in November 2008, Cook said: "Come on, replace Steve? No. Hes irreplaceable. Thats something people have to get over. I see Steve there with gray hair in his 70s, long after Im retired.“
This is What Steve Jobs Meant toHim"I personally admire Steve not mostfor what he did, or what he said, butfor what he stood for. The largestlesson I learned from Steve was thatthe joy in life is in the journey, and Isaw him live this every day." About the legal Battles In Apple earnings call on April 24, Tim Cook said, "I’d highly prefer to settle versus battle ... I’ve always hated litigation. We need people to invent their own stuff.”
iPhone 5 is the thinnest and lightest iPhone ever, completely redesigned to featurea stunning new 4-inch Retina™ display; an Apple-designed A6 chip for blazing fastperformance; and ultrafast wireless technology*—all while delivering even betterbattery lifeLaunched on 21 st Sept’12.Estimated sales in the first week: 8 million unitsActual Sales: 5 million unitsMore than 100 million iOS devices have been updated with iOS 6, the world’smost advanced mobile operating system.iPhone 5 is available in the US, Australia, Canada, France, Germany, Hong Kong,Japan, Singapore and the UK, and will be available in 22 more countries onSeptember 28 and more than 100 countries by the end of the year.Demand for iPhone 5 exceeded the initial supply and while the majority of pre-orders have been shipped to customers, many are scheduled to be shipped inOctober.
Opening weekend sales grew 70 percent between the 3GS and the iPhone 4, and then an astounding 135 percent between the 4 and the 4s. Thats acceleration. iPhone 5 sales, meanwhile, grew only 25 percent. Thats massive deceleration.
Apple sold the iPhone 5 in nine countries over its opening weekend. It sold theiPhone 4S in seven. It actually sold fewer iPhones per country this year than the last. Thats not just deceleration, thats shrinkage.
“It looks like it has become a more conservative execution engine rather than a pushing-the-envelope engineering engine.”“I’ve been told that any meeting of significance is now always populated by project management and global-supply management.” “When I was there, engineering decided what we wanted, and it was the job of product management and supply management to go get it,” he continued. “It shows a shift in priority.”