How Companies Like Apple adapted To The Huge Tech Boom

How companies thrived and died during the tech boom


After the market crashed in 2001 things took a drastic turn, but not all of it was for the worst. After 2001 and up until now a huge boom with the internet and social networking has taken place. How everything was done changed drastically. people were becoming more technological savvy than ever before and more business took place online. Companies struggled to stay afloat, but those who turned to the changing era and threw away the old were able to succeed.

The company Apple has been a company that thrived and has achieved almost what is thought to be impossible. The company used to only be known for its computers, but did away with that with the evolving era. Broadening their horizons has allowed them to achieve astonishing gains in wealth and better establish their empire as they crushed all proceeding electronics. As we all know the Ipod (created by apple) has been one of their thriving products and has changed the way we listen to music. Not only can you listen to music, but you are able to surf the internet, play games and buy a variation of apps for it. Apple was founded by now deceased Steve Jobs He launched the company in 1976. Jobs resigned from the CEO spot on August 24th 2011 which then the board gave the reigns to Tim Cook. Cook played a massive part in the company. “Cook was previously responsible for all of the company’s worldwide sales and operations, including end-to-end management of Apple’s supply chain, sales activities, and service and support in all markets and countries. He also headed Apple’s Macintosh division and played a key role in the continued development of strategic re-seller and supplier relationships, ensuring flexibility in response to an increasingly demanding marketplace.”

The company is located in Cupitdo California. The company is large with 394 retail stores in fourteen countries as was recorded late 2012.
Apple is providing the following guidance for its fiscal 2013 second quarter:

revenue between $41 billion and $43 billion
gross margin between 37.5 percent and 38.5 percent
operating expenses between $3.8 billion and $3.9 billion
other income/(expense) of $350 million

tax rate of 26%
as was stated by Apple on their website.
One share of Apple goes for 439.88 which is extremely high.

Apple has created 598,500 jobs in the United States. Apple is literally monopolizing and is becoming a global powerhouse for all electronics, from computers, laptops, phones, ipads, ipods, and the countless accessories they have for these items. What makes Apple so successful is their ability to adapt. They have changed their company so much to reach people’s needs. When people wanted everything on one device they did it. When they wanted bigger screens with nearly everything on it they made the Ipad. Not only is their company a phenomena, but it’s a consumerist phenomenon. They made their product so that it is literally a fashion statement like Nike or any clothing company. Apple made their product stylish and something to brag about among all age groups. When someone has apple products the consumer says “Look what I got” and the other apple- less consumer says “wow I wish I had something like that.” and that’s what makes this product so special.

The founder of Blockbuster is Wayne Huizenga it was founded in 1985. Wayne was a very successful business man owning three fortune 500 companies. However, Blockbuster on the other hand has been a company that has been struggling to keep afloat after the market crashed. In the mid-1990s Blockbuster was all the rage, but after DVD pirating and countless other linear problems and competitors joined the market Blockbuster has slowly met its demise. When Netflix became popular in the early 2000s after being featured on the gaming console Xbox 360, Blockbuster has taken shot in the leg and has never been able to recover. Blockbuster has been known as a rental business for video games on every platform as well as DVD’s. Blockbuster is owned by the Dish Network which is located in Engelwood, Colorado. At its peak in 2009, Blockbuster had around 60,000 employees. In January 3, 2010, there were over 5,000 Blockbuster stores in the U.S. and 17 countries worldwide. The company took dramatic losses and filed bankruptcy September 23, 2010, and on April 6, 2011, was won by satellite television provider Dish Network at auction. Jim Keys was announced Blockbuster’s CEO from 2007-2011.
To succeed in a failing market companies need to be able to adapt. If a company can’t adapt to the technological changes then there is no hope for it in the long run. Secondly, a company must have a plan and have goals set with select dates to meet those requirements. Thirdly, businesses must keep an eye on their financials. Businesses must be smart with their money and invest when they need to. Fourthly, companies need a good marketing strategy that will keep the consumer interested in the company’s product. Lastly a company must have good management and ownership. A company can’t thrive without having the brains running things at the helm.

Carr, A. (2010, June 7). Fast company. Retrieved from http://www.fastcompany.com/1656502/blockbuster-ceo-jim-keyes-competition-apple-netflix-nintendo-and-redbox
(n.d.). Retrieved from http://www.freebase.com/view/en/blockbuster
Cotton, K., & Dowling, S. (2011, August 24). Apple press info. Retrieved from http://www.apple.com/pr/library/2011/08/24Steve-Jobs-Resigns-as-CEO-of-Apple.html
Cook, T. (2011, November 29). Nasdaq:aapl. Retrieved from http://www.google.com/finance?q=NASDAQ:AAPL

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