Companies worldwide are continually challenged with the need for sustainable growth in order to improve their bottom line and keep investors and stockholders happy. These companies utilize internal expertise as well as consider acquisitions and mergers to accomplish this growth. Examples range from Whole Foods adding a Tap Room, Amazon developing a drone delivery system, and Universal Studios adding a Harry Potter theme park.
Project Idea: The Intrapreneur
Task: You will adopt a company of your choosing and creatively develop a strategic business unit in order to improve the health of the company. You should consider your major and include the perspective of your major.
Step 1: Choose your company. You can choose any medium to large company (just make sure that you can find detailed financials on the company of your choice).
Step 2: Conduct necessary research about the chosen company to better understand the health of that company. This should include company history, current situation, and financial status.
Step 3: Develop an idea that will impact the growth of the company. Detail the idea and how it will need support from and affect the other areas of the company (accounting, IT, HR, marketing, etc.).
Step 4: Follow the Outline and rubric below to make sure you cover all of the key elements of this project. It is a significant portion of your grade so make sure to put a lot of effort into your project. Your final report should be approximately 8-12 pages in length.
Title: Strategic Business Unit Development for Apple Inc.: Leveraging Augmented Reality Technology
Thesis Statement: Apple Inc. can enhance its sustainable growth and market position by strategically developing a new business unit focused on augmented reality (AR) technology, integrating it into its existing product ecosystem and leveraging the potential of AR to revolutionize user experiences and drive innovation across various departments within the company.
Step 1: Company Selection
Apple Inc. is chosen as the company for this project due to its status as a leading global technology company with detailed financials available for analysis. The company's history, current situation, and financial status will be examined to gain insights into its health and growth potential.
Step 2: Company Analysis
Apple Inc., founded in 1976, has evolved into a technology giant known for its innovative products such as the iPhone, iPad, Mac, and various software solutions. As of the latest financial reports, the company continues to exhibit robust financial performance, with strong revenue and profitability driven by its diverse product portfolio and loyal customer base.
Step 3: Strategic Business Unit Idea - Augmented Reality Integration
The strategic business unit idea involves the integration of augmented reality technology into Apple's existing product ecosystem, including the development of AR-enabled devices, applications, and services. The implementation of AR technology will require collaborative support from multiple departments within the company:
Product Development: The strategic business unit will require close collaboration with Apple's hardware and software engineering teams to integrate AR capabilities into existing products and develop new AR-focused devices. This will involve leveraging the company's expertise in design and innovation to create AR-enhanced user experiences across various product lines.
Research and Development: The R&D department will play a crucial role in exploring the potential applications of AR in different domains, such as education, healthcare, gaming, and enterprise solutions. This will involve conducting extensive research on AR technologies, user interaction, and content creation to drive innovation within the company.
Marketing and Sales: The marketing department will be responsible for creating compelling narratives around the benefits of AR technology, showcasing its potential to transform user experiences and drive consumer engagement. Collaborative efforts with the sales team will be essential to communicate the value proposition of AR-enabled products to consumers and businesses.
Human Resources: HR will be instrumental in identifying and nurturing talent with expertise in AR development, user experience design, and content creation. The strategic business unit will require a skilled workforce capable of driving AR initiatives and fostering a culture of innovation within the organization.
Finance and Operations: The finance department will need to allocate resources for AR research, development, and product integration. Operational support will be essential in streamlining the production and distribution processes for AR-enabled devices and applications.
Step 4: Project Outline and Rubric Coverage
The project will encompass a comprehensive analysis of Apple Inc.'s financials, market positioning, and growth potential. The strategic business unit proposal for augmented reality integration will be elaborated upon in alignment with the outlined project requirements, covering key elements such as market analysis, competitive landscape, technological implications, financial projections, and organizational impact.
In conclusion,
the adoption of augmented reality technology as a strategic business unit presents an opportunity for Apple Inc. to drive sustainable growth, enhance user experiences, and reinforce its position as an innovative leader in the technology industry. By leveraging internal expertise and cross-functional collaboration, Apple can strategically integrate AR technology into its product ecosystem, paving the way for transformative advancements across various business units and reinforcing its competitive edge in the global market.
Citations:
Financial data from Apple Inc.'s annual reports and investor relations materials.
Market analysis reports from reputable sources such as Gartner, IDC, and Statista.
Technology insights from industry publications, research papers, and academic journals related to augmented reality.