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ASSIGNMENT OF ESSENTIALS OF MANAGEMENT TOPIC ESSENTIALS OF LEADERSHIP GROUP TABLE OF CONTENTS INTRODUCTION OF APPLE INC 3 MAIN CONTENTS 4 General Information about Tim Cook 4 The Nature of Apple’s Lea.
ASSIGNMENT OF ESSENTIALS OF MANAGEMENT TOPIC: ESSENTIALS OF LEADERSHIP GROUP TABLE OF CONTENTS INTRODUCTION OF APPLE INC MAIN CONTENTS General Information about Tim Cook…………………………………………….4 The Nature of Apple’s Leadership Apple’s Leadership Traits Job-Relevant Knowledge Motivation Drive Cognitive Ability Self-Confidence Honest and integrity Creativity…………………………………………………………………………… Flexibility………………………………………………………………………… 10 INTRODUCTION OF APPLE INC Apple Inc is an American multinational corporation that designs and markets consumer electronics, computer software, and personal computers The company was founded in 1976 by two young hackers, Steve Jobs and Steve Wozniak and its best-known hardware products include the Macintosh line of computers, the iPod, the iPhone, and the iPad Apple software includes the Mac OS X and IOS operating system, the iTunes media browser; the iLife suite of multimedia and creativity software; the iWork suite of productivity software Apple Inc.'s world corporate headquarters are located in the middle of Silicon Valley, at Infinite Loop, Cupertino, California The Apple campus has six buildings that total 850,000 square feet (79,000 m2) and was built in 1993 by Sobrato Development Cos Apple was regarded as the first successful personal computer company and the popularizer of the graphical user interface, it was apple’s notorious achievement and since the creation of the renowned product Apple’s iPhone, the company has accomplished many more objectives and has become the powerhouse of the modern digital devices industry until now In August 2018, Apple becomes the first publicly-traded company valued at $1 trillion Two years later, in August 2020 became the first $2 trillion U.S company, therefore also the most valuable technology company in the world, ahead of Microsoft Although Apple is 45 years old, it was only in the 2010s that Apple developed rapidly and despite having big competitors during this era such as Samsung, Mircosoft, or even Google, the company remains as the all-time favorite of the global market The main reason behind this success is not because of Steve Jobs, it is actually Tim Cook, the successor of the former CEO, his brilliant mastermind and leadership skills are two important factors that contributed to Apple’s reign In this presentation, we will mainly focus on Apple’s leadership during the 2010s era especially the current Chief Executive Officer of Apple Inc, Tim Cook MAIN CONTENTS General Information about Tim Cook Timothy Donald Cook is an American business executive who has been the chief executive officer of Apple Inc since 2011 Before joining Apple he spent 12 years in IBM's personal computer business, ultimately serving as the director of North American fulfillment Later, he served as the chief operating officer of the computer reseller division of Intelligent Electronics In 1997, he became the vice president for corporate materials at Compaq for six months, but left the position after being hired by Steve Jobs Cook joined Apple in March 1998 as a senior vice president for worldwide operations, and then served as the executive vice president for worldwide sales and operations He was made the chief executive on August 24, 2011, prior to Jobs' death in October of that year During his tenure as the chief executive, he has advocated for the political reformation of international and domestic surveillance, cybersecurity, American manufacturing, and environmental preservation Since 2011 when he took over Apple, to 2020, Cook doubled the company's revenue and profit, and the company's market value increased from $348 billion to $1.9 trillion The Nature of Apple’s Leadership Apple is a company that relies on innovation; thus, it can only be led by a visionary leader Tim Cook had a strong vision when he took over, and this enabled Apple, and his leadership, to surpass doubts of living up to Steve Jobs’ legacy Even in an organization with a flat management structure, he managed to empower employees and provide inspirational motivation – Cook aligned employee goals with his vision, and thus, created committed, motivated, and engaged employees He possesses all the necessary tools of visionary leadership: charisma, inspirational motivation, intellectual motivation, and individualized motivation Also, the CEO of Apple owns a personal power known as the Referent Powers, a magnetic, humble, and caring persona in which the employees are all admired of thus motivated themselves to follow his vision and to challenge the status quo – this approach to leadership was an obvious success at Apple, leading to innovations such as the Apple Watch, AirPods and Apple Pay and booming financial success In contrast to the highly autocratic leadership style of Apple co-founder and late CEO Steve Jobs, the current CEO Tim Cook exercises and promotes democratic leadership He is a democratic leader and he follows democracy by giving opportunities to the employees to share more ideas for the betterment of the company For Cook, it is important to build consensus among senior management regarding strategic decisions for the business, and because of that he has a tendency of granting autonomous power who has the same ideology as him such as Jonathan Ive, Apple's user interface team; Craig Federighi the new head of iOS software engineering; service manager Eddy Cue in charge of Maps and Siri; And Bob Mansfield, formerly senior vice president of hardware engineering, becomes head of a new technology development team Moreover, since assuming the top role, Cook granted greater autonomy to the new product development team, decreasing the direct participation of the CEO in the new product development process Although being democratic and other-centered for most of the term, Tim Cook’s Positional Power still allows him to make huge decisions based on the result every year especially the coercive power, one example is the disastrous debut of the Apple Maps in 2013 designed by Scott Forstall, it was originally created as a replacement for Google Maps, a product belongs to one of Apple’s biggest rival However, Forstall’s team rushed Maps out despite Tim Cook’s demand to a lot of quality assurance and checking their data for discrepancies in public records thus leading to its lack of formal data, numerous error encounters and even giving users a “distorted” view of the world This eventually made it became one of the worst products Apple ever invented and as a consequence Apple had lost the market completely to Google Map Suffering from this devastating blow, Tim Cook had decided to punish Forstall by removing Apple’s senior vice president and the main director of the creation of Apple Map out of his position due to its horrible output and the damage it has done to Apple’s reputation, Forstall remained as a minor advisor before departed the company in 2013 Another demonstration of Tim Cook’s coercive power is the replacement of John Browett, Apple’s former Senior Vice President of Retail for violating one of his core policy for Apple which is focusing on the customers, throughout 2012 Browett has come up with new Apple Store policies that have detracted from the customer experience He’s tried to lower the number of Apple Store employees so stores become even more profitable, and has failed to see that people go to the Apple Store for the excellent customer service As a punishment, John Browett was fired only after months working for the company Overall, it is clear that Tim Cook’s leadership mainly depends on the visionary and democratic aspects However, he also shows his iron grip towards his employees by strengthening his Positional Power, creating motivation for those who want to be his right-hand men and those who are lack of enthusiasm to return to their best form for fear that they too can be fired at any moment • Apple’s Leadership Traits Tim Cook’s leadership style is not the only factor that contributed to his success at Apple He also posses traits that only a natural leader has and these traits play a huge role during his career as the CEO of Apple Job-Relevant Knowledge : Cook earned a Bachelor of Science in industrial engineering from Auburn University in 1982, and his Master of Business Administration (MBA) from Duke University's Fuqua School of Business in 1988 Therefore he can easily understand the foundation of the industry and also providing him a vast knowledge in terms of technology and business to apply during his time as the CEO of Apple, which is in fact a technological and commercial international corporation • Motivation : As we mentioned before Tim Cook has a magnetic, humble, and caring persona By having this personality Cook is able to influence the employees to admired him thus motivated them to follow his vision and the common goals • Drive : The Ceo of Apple is famous for his high energy and his display initiative Cook is up very early every morning, rising at 3.45 am to work on emails for an hour — he gets between 700 to 800 every day “I like to take the first hour and go through user comments and things like that, and sort of focus on the external people that are so important to us,” he said in an interview with Axios on HBO At around am, he’ll head to the gym (off the Apple campus to ensure his privacy) for his morning workout and after the gym, he’ll head to his local Starbucks to work through even more emails, before heading to Apple Park One example of Cook’s display initiative was the meeting with his team in 2018, and the discussion turned to a particular problem in Asia The situation at that point was very bad and Cook urgently demand someone should be in China Thirty minutes into that meeting Cook looked at Sabih Khan, a key operations executive, and abruptly asked, without a trace of emotion, “Why are you still here?” Khan, who remains one of Cook’s top lieutenants to this day, immediately stood up, drove to San Francisco International Airport, and, without a change of clothes, booked a flight to China with no return date • Cognitive Ability : “Tim Cook may not know how to design an innovative product like Steve Jobs, but he understands the world so well that few CEOs I've met in the past 60 years can match.” Warren Buffet once said about the CEO of Apple In fact, it is Mr Cook’s capability to interpret the information at a high level that allows him to understand the market quickly and being well aware of any competitors may stand on his ways, therefore, giving an accurate strategy to dominate and maintain its throne in every strategic market such as India or China… • Self-Confidence : The life of a leader is not an easy one At times leaders must make extremely difficult decisions that can affect the lives of those around them Although it’s difficult, you must be able to trust in your ability to take risks Tim Cook understands he must take risks in order to succeed He believes that “we take risks knowing that risks will sometimes result in failure, but without the possibility of failure there is no possibility of success.” His plan to build an ecosystem around the iPhone was considered bold because if there is any product considered failed by the public, the strategic product iPhone will also have to suffer huge consequences, but it paid off with numerous products such as the Apple Watch and AirPod was created and had dominated the market since it’s creation Without his self-confidence to take calculated risks, it will be almost impossible for Apple to succeed as it is nowadays • Honest and integrity : Tim Cook knows that transparency and honesty are crucial to sustained success Upon receiving harsh criticism about the standards of Apple’s global employees, he decided to open up the doors to the public and allow them to see how Apple’s operation really works By doing this he instilled confidence for those in the company and set new industry standards for manufacturers everywhere He also strongly believes in taking responsibility when the company goes wrong Mr Cook spoke about Steve Jobs and his ability to admit wrongs to Businessweek He said, “Maybe the most under-appreciated thing about Steve was that he had the courage to change his mind And you know–it’s a talent It’s a talent” His integrity also came along when he took over from Steve Job in 2011, Cook's executive changes occurred after the third quarter of the fiscal year when revenues and profits grew less than predicted One commentator said that Forstall was forced to step down, as Cook "decided to lance the boil as internal politics and dissent reached a key pitch" Since becoming CEO, Cook focused upon building a harmonious culture that meant"weeding out people with disagreeable personalities—people Jobs tolerated and even held close, like Forstall" On February 28, 2014, Cook made headlines when he challenged shareholders to "get out of the stock" if they did not share the company's views on sustainability and climate change Tim Cook's strong integrity allows him to demonstrate his power towards his counterparts in the company, therefore uniting Apple as a whole in terms of policy and business strategy • Creativity : Since taking power in 2011, Apple CEO Tim Cook has taken a lot of creative moves, helping Apple increase profit on revenue from users A typical example is the launch of the iPad Air, Tim Cook was holding the iPad at $ 400 to push the user to purchase the latest iPad form When launching the iPhone 5s with the same design as the iPhone 5, Cook cleverly killed the iPhone to replace it with an ugly plastic iPhone 5c Therefore reducing the cost of production wisely while also satisfied the customers need But one of Tim Cook’s most creative tricks is the iPhone X Thanks to the edge-toedge OLED screen, glass body, and removed Home button, the iPhone X is a completely new version after the disappointment of the iPhone with looks almost identical to the iPhone and 6s Apple fans have been bored with a design for the past few years, and it is the eager anticipation for the new iPhone that has made Apple's stock price continuously increase By creating a "special" iPhone, Apple was able to push the price of the iPhone to new heights, and the $1,000 price tag is expected to generate unprecedented revenue • Flexibility : Flexibility is always a key component for any leader, especially during a harsh period where things will not go well with the company Tim Cook is notorious for his flexible ways in dealing with politics for example during Trump’s presidency and the trade war with China, protecting Apple’s benefit at both nations while remaining its good relationship with both sides When Donald Trump is in office, Tim Cook has built a close friendship with him In fact, Tim Cook was a supporter of Hillary Clinton in the 2016 White House race He used to oppose Mr Trump's views on immigration, racial conflicts, and climate change But Gary Cohn, Trump's economic adviser until 2018, says Tim Cook visits Washington every four to six weeks, more often than any other tech CEO During the trade war with China in mid-2017, Mr Trump told the WSJ news that Tim Cook promised to build "three big beautiful factories" in the US and bring many jobs back to America, although it was not yet confirmed but by doing this Tim Cook was able to protect his supply chain in China ( a market that claims a huge proportion of Apple’s total revenue ) temporarily and avoiding Trump’s attention As a result, Apple was still flourishing under the Mr.Trump era In August 2018, Apple's market capitalization hit the $1 trillion mark 24 months later, even as Mr Trump called for moving "dumb supply chains in China" to the US, Apple's market capitalization hit $2 trillion again It all thanks to Cook’s skillful management, flexible diplomacy, and not hesitate to take advantage of the inherent market power Tim Cook knows how to take advantage of Trump's favor, please Beijing’s officials while also growing iPhone revenue at the same time • WORK ASSIGNMENTS Infomation I - Quang Huy ( The Nature of Apple’s Leadership, Apple’s Leadership Traits) - Tien Dat ( Introduction, General Information about Tim Cook ) PowerPoint II - Thanh Lich Report III - Vu Thi Nga 10 • TEACHER’S COMMENTS 11 Limited Points • 12 ... Leadership Traits) - Tien Dat ( Introduction, General Information about Tim Cook ) PowerPoint II - Thanh Lich Report III - Vu Thi Nga 10 • TEACHER’S COMMENTS 11 Limited Points • 12