Apple.Inc Introduce(精品).ppt

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1、Apple ComputersJessica BourgoinAmy KakukBeth Theriault04/25/2005OutlineOutlineBrief History of HDWhere we are nowVision and Mission External AnalysisCPMEFESummaryInternal AnalysisIFEFinancial ratio analysisNet Worth AnalysisSummaryStrategic AnalysisSWOT MatrixSPACEGrand Strategy MatrixIE matrixBCGSu

2、mmaryPossible strategiesQSPM RecommendationsStrategic implementation and desired results Objectives&GoalsHistory 1976-1978WozniakandJobsformtheAppleComputerCompanyonAprilFoolsDay.WozniakandJobsfinishworkonapreassembledcomputercircuitboard.Ithasnokeyboard,case,soundorgraphics.TheycallittheAppleI.TheA

3、ppleIboardisreleasedforsaletohobbyistsandelectronicsenthusiastsatthepriceof$666.66.Applesfirstformalbusinessplansetsagoalforsalestogrowto$500millionintenyears.Asitturnsout,thecompanywillpassthatmarkinhalfthetime.AppleIcomputerboardsaresoldthrough10retailstoresintheU.S.ApplemovesfromJobsgaragetoabuil

4、dingonStevensCreekBoulevardinCupertino,California.ThenewAppleIIisunveiledatthefirstWestCoastComputerFair.Itisthefirstpersonalcomputerabletogeneratecolorgraphicsandincludesakeyboard,powersupplyandattractivecase.TheApplelogoasseentodayisdesignedbyRobJanoff,artdirectorforRegisMcKennaAdvertising.RegisMc

5、KennaAdvertisinglaunchesitsfirstadcampaignforApple.Althoughadvertisingisinitiallyaimedatelectronicsenthusiasts,Applewillsoonbecomethefirstcompanytoadvertisepersonalcomputersinconsumermagazines.Monthlyordersreacha$1millionannualsalesrate.http:/www.apple- 1978Apple introduces various interface cards f

6、or connecting to most printers.Apples Disk II is introduced at the Consumer Electronics Show.It is the easiest to use,lowest priced,and fastest mini-floppy disk drive ever offered by a computer manufacturer.It will make possible the development of serious software.Production at first is handled by j

7、ust two employees,turning out 30 drives a day.In only its second year,Apple is one of the fastest growing companies in America.Sales have increased,and its dealer network has grown to over 300.History 1979-1981Apples first printer,the Silentype,is introduced.Apple opens a manufacturing plant in Carr

8、ollton,TX.Apple facilities now occupy more than half a million square feet of floor space in the U.S.and Europe.Apple goes public.Morgan Stanley and Co.and Hambrecht&Quist underwrite an initial public offering of 4.6 million shares of Apple common stock at a price of$22 per share.Every share is boug

9、ht within minutes of the offering,making this the largest public offering since Ford went public in 1956.Apples employee count breaks 1,000.Apples distribution network is the largest in the industry-800 independent retailers in the U.S.and Canada,plus 1,000 outlets abroad.Apples first mass storage s

10、ystem,the 5MB ProFile(tm)hard disk is introduced,priced at$3,499.Apple becomes a household name.Surveys show that public awareness rose from 10 percent to 80 percent in 1981.History 1982-1985AppleDotMatrixprinterintroducedfor$2,195.Applebecomesthefirstpersonalcomputercompanytoreach$1billionannualsal

11、esrate.ItthrowsaBillionDollarPartyforemployees.AppleUniversityfoundedtoprovideemployeetrainingprograms.AppleenterstheFortune500atnumber411inunderfiveyears.EVA(EmployeeVolunteerAction)iscreatedtomatchtheskillsofAppleemployeeswithcommunityneeds.AppleiselectedtotheConsumersDigestHallofFameforresponsive

12、nesstoconsumerneeds.AppleIIreceivesthe1984IndustrialDesignExcellenceAward(IDEA)sponsoredbytheProductIndustrialDesignersSocietyofAmerica.Appleannouncesacomputertrainingscholarshipprogramforelementaryandsecondaryschooleducators.TheHistory 1986-1990Appleannouncesplanstocreateanindependentsoftwarecompan

13、y,tobeknownlaterasClaris.Forthefirsttime,AppleusesitsHyperCardtechnologytodistributea1987HyperCardsupplementondisketteforMacintoshpersonalcomputers.ApplefilessuitagainstMicrosoftandHewlett-PackardtoprotectitsMacintoshaudiovisualdisplay.Thelawsuitisseenashavingindustrywideimplicationsregardingcopyrig

14、htlaws.Applereportsfirstbilliondollarquarterinitshistoryasnetincomerises108percent.Applereportsnetsalesof$4.07billionandnetincomeof$400.3millionforfiscalyear1988.AppleacquiresCoralSoftwareCorp.,whichmarketsprogramminglanguagesandartificialintelligencetoolsforMacintoshcomputers.Appleintroduces32-BitQ

15、uickDraw(tm)thatallowsMacintoshpersonalcomputerstoprocessanddisplayphoto-qualitydocuments,imagesandvisualizationswithexceptionalcolorclarity.Appledonates$2millionincomputersto23schoolstohelpat-riskstudents.Fiscal1990revenuessurpass$5.5billion.History 1991-1995Appleannouncesitwillrestructurethecompan

16、yoverthenext12monthstoreduceoperatingexpenses.Applesworkforceisreducedapproximately10percent.AppleandIBMsignaletterofintenttocooperateonmajortechnologyinitiativesforthe1990s.Apple,IBM,andMotorolafinalizemilestonetechnologyalliance.AppleannouncesanewTokenRing4/16NBCard,fortheMacintoshproductline.Itis

17、thefirstproducttoemergefromAppleandIBMalliance.AppleandKodakannouncethattheyareworkingtogethertointegratesupportforPhotoCDimagesintofutureversionsofQuickTime.TheU.S.EnvironmentalProtectionAgencyofficiallyreleasestheEnergyStaremblemfordisplaywithenergy-efficientcomputersandperipherals.Applehasmoretha

18、n20productsthatmeettheEPAsthetechnicalrequirements.ApplesMacintoshcelebrates10thbirthday!As of January 2005 Apple has introduced the Mini Mac and the iPod Shuffle.Applein2005The Apple Mini Mac is a compact desktop computer.It is 2 inches tall and weights 2.9lbs.The Mini Mac starts at$499 and comes s

19、tandard with iChat AV desktop video conferencing,Mail,Address Book,QuickTime,iSync,and a DVD Player.http:/ from:http:/ iPod shuffle is a smaller version of the original iPod.It is much smaller and lighter and can double as a portable USB flash drive with up to 1GB of storage space to back up persona

20、l files and exchange them between computers.For$99 you can purchase the 512MB holding up to 120 songs or the 1GB holding up to 240 songs for just$149.Graphicsfrom:http:/ OS X Tiger On April 29,2005,the Mac OS X Tiger will be released.This is an advanced operating system that requires a Macintosh com

21、puter with a PowerPC G3,G4 or G5 processor,Built-in FireWire,256MB of RAM,and 3GB of available hard disk space.It cost$129 for a single user and$199 for a 5 license family packhttp:/ in the Market(as of 4/22/05)LastTrade:35.5052WeekLow:12.7552WeekHigh:45.44Applehada2:1Stockspliton02/28/05Vision Stat

22、ement Vision Statement(proposed)(proposed)Tobecometheworldwideleaderincomputerandmp3playersales.MissionStatement(actual)Apple ignited the personal computer revolution in the 1970s with the Apple II and reinvented the personal computer in the 1980s with the Macintosh.Apple is committed to bringing th

23、e best personal computing experience to students,educators,creative professionals and consumers around the world through its innovative hardware,software and Internet offerings.The Apple commitment to excellence is its mission to provide computers and service(2)for people(1)that meet the highest sta

24、ndards of value and reliability.Apple is one of leaders in the computer industry and makes the best-selling computers in the world(7)(3).Apple provides the highest level of quality and value for our customers.Those are timeless fundamentals.We also apply innovative technology to our core business(4)

25、to differentiate ourselves and make our products irresistible to our customers,beneficial to society,and profitable to our company(5).We strive to provide additional opportunities for growth and enrichment of company personnel while maintaining a work environment for all employees(9)that encourages

26、personal commitment and participation in support of achieving excellence.We are committed to being a good corporate citizen,and being openly honest with all of our stakeholders(6).We support activities that help to build common understanding,enhance excellence,and enable people to improve their live

27、s and reinforce their commitment to society(8).MissionStatement(Proposed)ExternalAudit OpportunitiesIncrease in worms and viruses on PCs.Large population(Gen X&Y)which are extremely individualistic and name brand conscious.Weak ties with Microsoft products.Downloadable music and MP3 players are high

28、ly marketable.Increase sales of computers online by 25 percent.Increase sales of laptops by 20 percent.ThreatsCompanies not seeing Apple as compatible with their software.Dell and HP are major competitors.Increasing competition with music downloads.Dell does not invent but provides computers at a mo

29、re cost effective rate for customers.Recessionprice of Apple computers are higher.Intels future Pentium release.CPMCompetitiveProfileMatrix Apple Computer Market DellCritical Success FactorsWeightRatingWeighted ScoreRatingWeighted ScoreRatingWeighted ScoreMarketSharePriceFinancialPositionProductQual

30、ityConsumerLoyaltyAdvertisingManagementGlobalExpansionInnovationWebDevelopment0.100.100.150.150.150.040.060.060.140.0512334242430.100.200.450.450.600.080.240.120.560.1533222332220.300.300.300.300.300.120.180.120.280.1044343333230.400.400.450.600.450.120.180.180.280.15Total1.00 2.952.303.21ExternalFa

31、ctorEvaluation(EFE)MatrixKey External FactorsWeightRatingWeightedScoreOpportunitiesIncreaseinwormsandvirusonPCs.0.1540.60DownloadablemusicandMP3playersarehighlymarketable.0.630.18Largepopulation(GenX&Y)whichareextremelyindividualisticandnamebrandconscious.0.1540.60Increaseinsalesoflaptopsby20percent

32、.0.0430.12Increasingsalesofcomputersonlineby25percent.0.0530.15CreatingmoretieswithMicrosoftproducts.0.1040.40ThreatsIncreasingcompetitionwithmusicdownloads.0.0720.14IntelsfuturePentiumrelease.0.0330.09DellandHParemajorcompetitors.0.1040.40Delldoesnotinventbutprovidescomputersatamorecosteffectiverat

33、eforcustomers.0.0630.18RecessionpriceofApplecomputersarehigher.0.0420.08CompaniesnotseeingAppleascompatiblewiththeirsoftware.0.1520.30TOTAL1.003.24ExternalSummaryApple has rated the Increase in worms and virus on PCs,Large population(Gen X&Y)which are extremely individualistic and name brand conscio

34、us,and the Creating more ties with Microsoft products as their three highest opportunities.Apple has rated that the fact of Dell and HP being such huge competitors as their top threat.InternalAuditStrengthsiTunes Music Store is a good source of revenue,especially with the iPod and the availability o

35、n Windows platform.Developing own software and hardware.Apples niche audience provides the company with some insulation from the direct price competition.Revamping desktop and notebook lines.Web technology can be used to improve product awareness and sales.Low debtmore maneuverable.Good brand loyalt

36、y.WeaknessesWeak relationship with Intel and Microsoft.Weak presence in business arena.Dependency on new product launches.Weak presence in markets other than education and publishing.Slow turn around on high demand products.InternalFactorEvaluation(IFE)MatrixKey Internal FactorsWeightRatingWeighted

37、ScoreStrengths iTunesMusicStoreisagoodsourceofrevenue,especiallywiththeiPodandtheavailabilityonWindowsplatform.0.1540.60Applesnicheaudienceprovidesthecompanywithsomeinsulationfromthedirectpricecompetition.0.1030.30Revampingdesktopandnotebooklines.0.1030.30Lowdebtmoremaneuverable.0.0640.24Developingo

38、wnsoftwareandhardware.0.1430.42Goodbrandloyalty.0.0530.15Webtechnologycanbeusedtoimproveproductawarenessandsales.0.1040.40WeaknessesDependencyonnewproductlaunches.0.0610.06Weakpresenceinbusinessarena.0.0710.07Slowturnaroundonhighdemandproducts.0.0320.06WeakrelationshipwithIntelandMicrosoft.0.1010.10

39、Weakpresenceinmarketsotherthaneducationandpublishing.0.0420.08Total1.002.78FinancialRatioAnalysis(March 2004)CompanyIndustrySectorS&P 500Valuation RatiosP/ERatio(TTM)69.7026.8733.5224.01P/EHigh-Last5Yrs277.9654.5864.1445.41P/ELow-Last5Yrs6.8417.3419.5516.26Beta1.751.601.911.00PricetoSales(TTM)1.411.

40、845.083.33PricetoBook(MRQ)2.207.564.784.29PricetoTangibleBook(MRQ)2.268.776.537.56PricetoCashFlow(TTM)37.6419.6925.4817.32PricetoFreeCashFlow(TTM)45.1323.7728.2628.97%OwnedInstitutions63.2150.3148.1464.19DividendsDividendYieldN/A0.700.752.04DividendYield-5YrAvg0.000.340.271.48Dividend5YrGrowthRateNM

41、7.941.506.48PayoutRatio(TTM)Growth Rates%CompanyIndustrySectorS&P 500Sales(MRQ)vsQtr1YrAgo36.2812.5418.8913.40Sales(TTM)vsTTM1YrAgo15.4510.9711.7811.90Sales-5YrGrowthRate0.887.0914.529.30EPS(MRQ)vsQtr1YrAgoN/A34.0035.0728.69EPS(TTM)vsTTM1YrAgo587.0435.5541.7421.92EPS-5YrGrowthRate-29.166.8513.1812.1

42、5CapitalSpending-5YrGrowthRate28.952.651.994.06Financial Strength QuickRatio(MRQ)2.261.022.541.26CurrentRatio(MRQ)2.531.253.021.76LTDebttoEquity(MRQ)0.000.380.230.68TotalDebttoEquity(MRQ)0.070.520.290.85InterestCoverage(TTM)13.7511.349.8111.86Profitability Ratios%GrossMargin(TTM)27.2730.6051.7147.32

43、GrossMargin-5YrAvg26.6531.0851.1347.01EBITDMargin(TTM)3.3412.4318.4120.79FinancialRatios(cont)EBITD-5YrAvg2.8712.1816.1820.82OperatingMargin(TTM)1.638.7013.6320.33OperatingMargin-5YrAvg1.258.2811.6218.35Pre-TaxMargin(TTM)2.779.4715.9617.27Pre-TaxMargin-5YrAvg5.349.7614.7717.54NetProfitMargin(TTM)2.0

44、36.029.9013.12NetProfitMargin-5YrAvg4.246.558.6711.59EffectiveTaxRate(TTM)26.7429.5727.5731.31EffectiveTaxRate-5YrAvg22.6230.5932.3934.20Management Effectiveness%ReturnonAssets(TTM)2.098.446.076.40ReturnonAssets-5YrAvg5.479.255.796.79ReturnonInvestment(TTM)3.0516.548.759.97ReturnonInvestment-5YrAvg7

45、.9017.579.3010.93ReturnonEquity(TTM)3.2630.1012.1718.71ReturnonEquity-5YrAvg10.3731.7813.1119.22EfficiencyRevenue/Employee(TTM)617,760568,624401,787622,866NetIncome/Employee(TTM)12,55537,72265,47481,707ReceivableTurnover(TTM)11.597.257.649.76InventoryTurnover(TTM)91.4720.939.6410.46AssetTurnover(TTM

46、1.031.450.770.92FinancialRatios(cont)NetWorthAnalysisSE+Additional paid in capital+retained earnings 4,095M+119M+2,325=6.5B9/28/02 Net income x 565M x 5=325MShare price(10/17/03)/EPS(10/17/03)x income(3years)22.75/0.49 x 275M =12.7BNumber of shares outstanding x share price358,958,989 x 22.75=8.1B M

47、ethodaverage=6.9BInternal SummaryApple has rated their iTunes Music Store being a good source of revenue,especially with the iPod and the availability on Windows platform,their low debtmore maneuverable,and their Web technology being used to improve product awareness and sales as their 3 highest str

48、engths.Apple did not rate any of their weaknesses higher than a 2.they should work on being able to direct more attention to those areas and especially concentrate on the two areas of dependency on new product launches and the weak presence in business arena.SWOTMatrix S-OStrategiesIncrease awarenes

49、s through the web of the immunity of Mac products to worms and viruses.(S5,O1)Advertise using individuals that will link Generation X&Y to the iTunes and other related products.(S1,O2,O4,O5,O6)Using movies and music groups that are geared towards Gen X and Y to promote computers and laptops.(S3,S5,O

50、2,O5,O6)S-TStrategiesIncrease and promote the compatibility to Window operating system.(S5,T1)Promote the originality of Apple computers and the different style and stable system that is slightly more but worth the price difference in style,stability and speed.(S2,S5,T2,T4,T5)W-OStrategiesIncrease t