Fast Company recently ranked Apple this year’s most innovative company in the world. For the first time, the digital magazine allowed companies to nominate themselves. All submissions, along with the intel reporters and editors compiled, brought Apple to the forefront because of their 2017 deliverables, overall financial health and the CEO’s insights and initiatives.
Here is a summary of the Fast Company/Tim Cook interview from February 21, 2018.
2017 Technology Product Releases
Apple major product releases included:
- AirPods, wireless headphones that automatically connect to other Apple products
- HomePod, an intelligent home assistant capable of handling everyday tasks and controlling a smart home.
- Apple Watch Series 3, the ability to stay connected without the iPhone nearby
- ARKit, available in iOS 11.3, delivers new features that let developers create realistic Augmented Reality (AR) experiences.
- iPhone 8, 8 Plus and X
- iOS 11
They also moved their employees into Apple Park, their new, five billion dollar headquarters.
Apple is estimated to be valued at $900 billion. Today, their stock is trading at $178.79 per share, which is a thirty-one percent increase in value year-to-year.
Tim Cook’s Stance
In Tim’s mind, the company’s culture is built on products and people. He constantly asks, “Do we make the best inventions? Will these developments enrich people’s lives? Is it truly great?” They want to give customers the ability to do things that were not available at all or were cost prohibitive before.
He focuses on the business strategy and believes the financial results will follow. He says “no” to a lot of great ideas because he wants the company to concentrate on what works best for their niche.
Tim and his team look at the long run, they are not caught up in short-term measurements. The ARKit is an example of this thinking. By introducing Augmented Reality into their operating system, they are hoping to attract more developers to this platform who can develop apps on a faster scale.
The leadership suite also has a great deal of patience and won’t bring a product to market until it is ready. Their current product development lifecycle is three to four years. If the product isn’t ready, they will delay shipment.
He views customers as jewels. Every day, he reads a lot of client comments that helps him get a good pulse on what these investors think of their product line.
The company is focused on sustainability and diversity. They run their U.S. operations on 100 percent renewable energy. They have an entire page, which includes a video, about their inclusion initiatives.
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