3 Reasons Why Apple Continues To Inspire Innovation
In early June, tech-giant Apple announced the highlights of its yearly calendar at the 2015 Worldwide Developers Conference (WWDC). Announcements included the updates of iOS 9, WatchOS 2, as well as brand new products such as Apple Music – a live music streaming service similar to that of Spotify. It’s no secret that the name Steve Jobs was synonymous with innovation – one of his most well known quotes is “Innovation distinguishes between a leader and a follower”. What fascinates us most about Apple is not just their ability to come up with completely innovative products, but also to tap into existing markets and come out with a better idea. There are a number of reasons why we believe Apple continues to inspire innovation, but here are just three.
1. They understand what it means to be innovative
When it comes to innovation, many people believe that this refers to the process of creating completely new products. If you can see a way in which an existing product can be improved or built on, then that is innovation at its finest. Whilst the generation of new ideas is important, sometimes all it takes to create groundbreaking sales is the modification of an existing product. Take the Apple Watch for example – the majority of people have owned watches for many years, but it is how Apple took the product and made it unique which has contributed to its growth and sales.
2. They aren’t afraid to take risks
Building on the above point, Apple continues to inspire innovation when they actively take risks. With the introduction of Apple Music at this year’s WWDC, it was clear that a live streaming service was not a revolutionary idea. Where Apple are taking a risk however, is going up against already established streaming services such as Spotify and Pandora. It is a common belief that without risk, there will be no innovation, but this couldn’t be more true in today’s business environment. As T.S Eliot said, “Only those who will risk going too far can possibly find out how far it is possible to go.”
3. They accept that innovation requires investment
When commenting on Apple’s attitude to innovation, Steve Jobs explained that “The cure for Apple is not cost-cutting. The cure for Apple is to innovate its way out of its current predicament”. Every realistic organisation recognises that innovation comes at a price, both financially and in terms of investing in your staff adequately. Those who wish to innovate without spending a cent will soon realise that it is extremely difficult, and that initial investment is required to get new ideas in action.
What do you think?
Do you feel that Apple continues to inspire innovation in today’s business market? As we know, innovation is critical to business growth and success, so I’d love to hear how you innovate, and whether the above three points apply to you or not. Comment below and share your views.
This article was written by Laura Hutton on behalf of the Australian Institute of Business. All opinions are that of the writer and do not necessarily reflect the opinion of AIB. The following sources have been used to compile this article: