The Apple Way
Book

The Apple Way

12 Management Lessons from the World`s Most Innovative Company

Jeffrey L. Cruikshank
McGraw-Hill, 2005
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Editorial Rating

8

Qualities

  • Background

Recommendation

Apple's estimated share of the worldwide personal computer market is only 2%. Why is a company with such a tiny slice of a multibillion-dollar pie so prominent, influential and highly respected? Jeffrey L. Cruikshank's briskly written, informative and entertaining book examines the philosophy and management principles of one of the world's most innovative companies. In an industry known for cutthroat competition, Apple really has none – at least for now. The company, under visionary CEO Steve Jobs, has carved out a unique niche. The mercurial Jobs deserves the lion's share of the credit for bringing equilibrium, profitability and promise to the company since his triumphant return to Apple in 1997. Although Apple is probably inimitable, getAbstract recommends this book to managers who wish to learn how it navigated the heavy seas of business.

Summary

Apple’s Twelve Principles

Apple's success depends on 12 unique business principles, which arise from its history and market environment.

Principle One: "Marvels and Margins"

When you consider how many Macintosh computers, iPods and iTunes music downloads Apple sells, you might conclude that Apple shareholders are realizing a handsome, steadily increasing return on their investment. Surprisingly, however, Apple stock is worth about 25% less now than it was in 1993.

Yet, Apple does not appear to be overly concerned about its current market position. No other company does what it does. Apple's products are so distinctive that the company has no challengers. Because Macintosh computers are unique and many owners would not consider having anything else, Apple is fairly well insulated from the price wars that have driven down the costs of PCs. If you want a Mac, you pay the price. Enough customers have done so that Apple enjoys millions of dollars in gross profits.

  • Lesson No. 1 – Make good products and provide good service. Never try to improve your bottom line by sacrificing quality.

Principle Two: "Find the Future"

Thirty years...

About the Author

Jeffrey L. Cruikshank is the author of The Real Estate Game and The Intellectual Venture Capitalist: John H. McArthur and the Work of the Harvard Business School.

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