Basic characteristics, management and performance of Apple 02245 Essay

Basic characteristics, management and performance of Apple 02245 - Essay Example The profitability, market share, degree of competition and the growth strategy of the company will be thoroughly evaluated in this paper. The management approach and the performance of the company in the recent times are also analyzed. Apple Inc. has a unique corporate culture. It does not govern through many layers of management. The top management directly communicates with its employees. It tries to attract the employees by offering both, facilities and challenges. The enterprise is committed in maintaining an innovative and collaborative environment. It also trains its retail employees so that they can make their customers feel comfortable and also provides them scope for moving upward to the level of a manager. Thus, the enterprise attracts retail employees (Sawayda, 2011). Apple’s transition into a consumer electronics manufacture from a computer manufacturer was unpredictable and was successful due to the remarkable leadership skills of Steve Jobs, the company’s highly skilled employees and its determined corporate culture. (A description of the organization’s basic characteristics) The production function of a firm expresses the functional relationship between the quantities of outputs and inputs. It shows that to what extent the output changes with variations in input within a specified time period. The equal products curves or isoquants shows all those input combinations which are capable of producing the same output (Moschandreas, 2000). The marginal rate of technical substitution (MRTS) is the rate at which the inputs can be substituted for each other in order to maintain the same level of output. It can be expressed as the ratio of the marginal products of two factors (Moschandreas, 2000). In the short run, at least one input of the firm must be fixed while in the long run, all the inputs of the firm are variable. The total cost function of a firm comprises of the total variable costs and the total fixed