Learning and Growth Objectives
Apple Inc. is arguably one of the best performing tech companies in the world. It has achieved customer loyalty that is unrivaled and has always outsold its flagship products once they are released. The success of this company is attributed to innovation regarding technology and in marketing. The mission of this company is unique in that it is a description of the products made by the company and how they are intended to benefit the consumers (Leśniak-Moczuk, 2016). While the selling point of the competitors revolves around the price of the computing devices, Apple Inc. concentrates on giving value and amazing the customers. Consequently, Apple Inc. has maintained premium prices for all of its products and still managed to expand the customer base. Despite Apple Inc.’s good performance, there is still room for improvement, and this can be achieved using learning and growth objectives.
The learning and growth objectives for Apple Inc. include: enhancing the capabilities of the employees; increasing awareness of the firm’s strategy among the employees; and improving the information system capabilities of the company. The employees of a company play a critical role in the performance and solvency of the firm (Botek&Pecháčková, 2013). Having the employees trained on the emerging trends with regards to their responsibilities will make them more effective in their work and possibly increase their loyalty to the company. The employees are also in contact with the customers whose interaction with the company contributes to the bottom line. Having the employees adequately trained and appreciative of their jobs will ensure that the customers are better treated. Training the employees on the emerging trends will also improve their creativity. This is essential for a tech company.
The employees are further responsible for implementing an organization’s strategy. However, a disconnect can exist between the management and the employees in the understanding of the strategy in its mere written form. The employees should thus be made aware of the firm’s strategy in an informal setting to make them more receptive. Having the employees embrace the strategy as a personal mission will ensure that through them, the interests of the company are protected. The company can take this a notch higher and involve the employee in coming up with the strategy of the company. The employees are the ones that are conversant with the problems and realities on the ground. This makes them best placed at identifying the problems facing the company and the solutions that fit best. In addition, this drastically reduces the length of time taken in strategic planning. Involving the employees in the strategizing stage of the firm makes them feel valued and there is a lower likelihood of the them seeking opportunities elsewhere. One they feel valued, the company can easily retain the talent.
As a tech company, Apple Inc. seeks to have more advanced information system capabilities compared to companies offering other services and products. However, this presents the danger of the company not having the incentive to improve its information system infrastructure continually. The company manufactures computing devices and also offers software support for them. Consequently, the firm is burdened with the responsibility of ensuring that the online software support is current at all times and capable of handling emerging security threats in the software industry. Striving to improve the information system continually will result in the improvement of the employee and customer experience with the company.
|Enhance the capabilities of the employees||<10%||Keep the turnover rate of the employees minimal||Regular training of the employees on new developments in their area of specialization.|
|Increase awareness of the company’s strategy among workers||15%||Increase the level job satisfaction among the employees||Ensuring that the employees are aware of the strategy of the company and any changes made on the same.|
|Improve the information system of the company.||15%||Increase device, platform security, and customer satisfaction||Regular checks and updates to the system and the company’s online Appstore.|
|Connections to other goals||The learning and growth objectives have a close relationship with the objective categories of the balanced scorecard. They are developed with both the employee and customer in mind, and the result is an improvement in the finances of the company|
|No revisions required on the previous modules|
Botek, M., &Pecháčková, E. (2013). Using the Balanced Scorecard concept for employee remuneration. Ekonomická Revue – Central European Review Of Economic Issues, 16(3), 169-182.
Leśniak-Moczuk, A. (2016). Vision, Strategy, Innovation in Apple Company. ZeszytyNaukoweUniwersytetuSzczecińskiegoFinanseRynkiFinansoweUbezpieczenia, 5, 33-40.