Apple Inc. is arguably the most successful IT company in the whole world today.
Apple started with Steve Jobs, Steve Wozniak, and Ronald Wayne on April 1, 1976. Initially, these guys sold personal computer kits called Apple I, which was built by Wozniak himself.
Apple was incorporated on January 3, 1977. During the incorporation, Wayne sold his shares to Jobs and Wozniak for $800. For 30 years, the company was known as Apple Computers, Inc., its incorporated name. On January 9, 2007, the company was renamed Apple Inc., (removing the word “Computer”) to include the company’s renewed focus to consumer electronics.
This small beginning grew in leaps and bounds. Apple is the world’s largest publicly traded company in terms of capitalization. With 357 retail stores as of July 2011, Apple is the largest technology company in the world, based on revenues and profits. To date Apple has employed a total to 60,400 permanent full-time and 2,900 temporary full-time workers.
The Fortune magazine cited Apple Inc. as US’s most admired company in 2008, and the world’s most admired for four years from 2008 to 2011.
Apple sells diverse IT products including Macintosh computers and accessories (i.e., Mac mini, iMac, Mac Pro, MacBook, MacBook Pro and MacBook Air), iPad, iPod (i.e., iPod Shuffle, iPod Nano, iPod Classic and iPod Touch), iPhone and Apple TV. Apple also sells software products like operating systems Mac OS X and Mac OS X Lion.
But what is it that gave Apple all these fortunes? It’s the corporate culture; thanks to the influence of its founders. Apple has moved out of the traditional corporate notion where the organizational hierarchy is flat rather than tall and where people wear casual attires rather than formal attires. In fact, Jobs was seen walking around the office barefoot even after Fortune magazine cited Apple.
Apple also believes that workers should be placed in positions where they are guaranteed to shine. Jobs made specialists out of all of Apple’s employees, making each worker the best in his class.
Tim Cook, who is Apple’s CEO from 1998 to present, is a guru in supply chain management. During his tenure, Apple had a very effective and efficient supply chain, ranked as one of the best in the world. Cook believes that maintaining high profit margin at a lesser cost is the key to a profitable business.