Individual Written Innovation Plan - Assignment Solution

Executive summary

As an innovative, technological company, Apple Inc. becomes a befitting role model when analyzing predictive-innovative models in a business domain. With its renewable energy plan, where it aims to supply through its current and potential customers’ increase in the usage of its products, the spread of green energy utilization. A reduction in the carbon footprint globally, has been on its utmost priority list. As an innovatively disruptive company changing with its capacity to change the global trends, it can be predicted that the impact of Apple Inc.’s such mission will indeed be a very wide one, impacting a wide consumer base and generating huge  gross profit margins and investable net profit margins. As a leader in research development, Apple Inc. establishes the most impactful means by which it utilizes its already strong resource, innovation, market and strategy indexes. By analyzing the indexes, the effective strategy that the company holds, which can also be appropriately employed through its resources is noted. Being the world’s top technological innovator, Apple Inc. is capable of bringing forth impactful technological innovation with effective commercialization. Being a research and development based company, yields it the additional benefit of making strong rent and risk analysis before embarking upon and decision, making its model one capable of inducting great change and success in the next 5-10 years with a score above 5 in all domains as per the Diamond Innovation Index. Lastly, its mission to reduce the carbon footprint by supplying green energy along-with its products is likely to yield a massive paradigm shift, as it tackles the climate change problem through its products solely on its own. This idea to wholistically use renewable energy in all domains in which its products are used, both within the company and in the customer experience is a highly unique idea, innovative to its company itself.

Introduction 

Apple Inc. is a leading example in the technology domain, with its company characteristics shaping global trends, and its third quarterly revenues amounting in the range of billions in 2018 only. In lieu of the Renewable Energy plan, which has although already been initiated in its retail, research, company, factory and all operational units, the aim of creating a Green Energy service for for its customers complementary to its technological products that they (customers) purchase will analysis be drawn regarding the adaptability, implementation and effectiveness of the proposed innovation plan. 

Outline of the new project (product or process). What is it?

The focus of Apple Inc.’s 100 Renewable Energy mission is “To ask less of the planet, we ask more of ourselves” ("Apple Environment", 2019). By embarking upon project Apple Inc. aims to target an increase in renewable energy usage, through its technical products such as the Iphone following as per Apple Environment’s claim. Currently, it utilizes solar panels and biofuels at its headquarters to grant it it the renewable energy it needs to operate all its units and premises, whilst illustrating also the fact that it can publicly supply such energy as mentions Apple Environment. It also mentions that by 2020, it will be able to aquire 4 gigawatts of clean energy in its supply chain meaning, one-third of our current manufacturing footprint. Additionally, it states that by its very utilization of good products safe for the environment, it has embarked upon the mission of customer satisfaction via their paying for not only the product but also the mission of climate change reduction via the tagline “Good for the Environment, good for you”.

The new product development and commercialisation process to be adopted for the technological innovation

In light of the new product/service that Apple Inc. aims to target, which is not only enhanced technological products that it creates for the consumers (“Apple Environment”, 2019), but also an additional benefit of improving their lifestyle by the usage of 100% renewable energy, it illustrates through its business model, a mechanism which employs the new product development model, along-with the lean canvas model. 

Illustrated below, both models showcase how Apple Inc.’s commercialisation process is assisted by virtue of its astute business model selection in yielding the results. Apple Inc. is mainly based on the Lean canvas model, and can also be analyzed via the New Product Business Model. The dominant one triumphing over the other, most applicable is obviously the Lean canvas model, however a brief outlook on the New Product model also helps grant insight into Apple Inc.’s vision and the reason behind its success.