Capstone, Assignment no. 4



Capstone, Assignment No. 4

Is cost-effectiveness or cost efficiency more important for your organization? Justify your response.

Cost efficiency

Cost efficiency may be defined as the extent to which an organization successfully converts its resources to achieve the possible outcome.

Cost effectiveness

Cost effectiveness is when a company or organization achieves its goals at a lower cost compared to alternatives

The organization that I have selected to evaluate is Apple. Inc. In my personal opinion in order for Apple to be more successful the organization should be cost efficient. Quality is the most important element. Apple is a clear example of how much importance a products quality has instead of cost or quantity. Many companies would be more successful is they had a better way to budget money. This is the most fundamental principle of business that quality cannot be sacrificed at any expense. Paying additional focus on quality over cost incurred will give the company a better reputation. If apple was more concerned with cost effectiveness, the quality of the product would have been jeopardized. Based on the increased competition Apple faces, it has implemented cost efficiency to provide the most exceptional products available. People still prefer Apple over other appliances even though they might be less expensive simply based on this principle that customers' number one priority is quality which should not be jeopardized by reducing costs internally and utilizing substandard material.

In your organization, identify two core strategies and the appropriate assumptions.

Apple's core strategy is its unique product design and the technology it uses, Apple has always stayed ahead of its competitors by constantly bringing innovation in its products and adding new features before anyone else. Apple's I phone has the most unique and innovative design various other companies have tried to recreated a similar product, people still opt for apple products solely based on its unique product design and features, When I phone was launched for the first time in 2007 it had the most unique features of a digital media player, GPS navigator and so on. I phone was one of a kind when it was launched and a large number of people turned towards buying the Apple I phone. Staying ahead of its customers by offering innovative and unique products is Apple's biggest core strategy

Apple's next biggest strategy is it's is how it utilizes the apple brand in order to compete with its competitors, Apple's branding strategy focuses ...