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The Apple of Our i


The innovation giants rise marks a sea change in the world economy
By Marishka Noelle M. Cabrera

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!"#$%&'(#)*+"#,*+#-".,+/#0,1,+2#,34"+/#566(# AppleComputerwasborninaCupertino, California,garage,thebrainchildoftwo 7899+:+#/48;83,2<#=8/1>(#1,#?@(#A;;9+(#!"7<# (itdroppedComputerin2007tosignalits muchbroaderbusiness)boastsatripleA creditratinghigherinStandard&Poors bookthantheU.S.governmentitselfand onAugust9,momentarilybecamethelargest companyintheworldbymarketvalue. Boostedbyitshitproducts,fromMac computerstoiPhones,iPodsandiPads, theconsumertechnologycompanyhita B14C+,#D1931,.8"#8E#F??&<$$#G.99.8"(#,8;;.":# 8.9#G+*+B8,*#HII8"J2#F???<@&#G.99.8"#1,# thetime.Heck,Appleevenhasmoreliquid

assetsthantheUnitedStatesgovernment. CNNcitesU.S.Treasuryaccountsshowing anoperatingcashbalanceof$73.8billion ."#91,+#K39>(#)*.9+#A;;9+#*12#F&'<5#G.99.8"#."# cashandmarketablesecuritiesaccordingto itslatestearningsreportinJune. Abriefreign,butaseachangejustthe same.=*83:*#HII8"#4+:1."+/#.,2#L8<#$#2;8,# amongallstocksbytradingdaysendon WallStreet,Applesbriefreignastheplanets mostvaluablecompanydemonstratedthesea changeinaworldeconomywhereknowledge andtheproductsandprogramsthatprocess itarethebiggestcreatorsofvalue,farmore thanthecoal,oilandsteelrulingsincethe $%,*M7+",34>#!"/32,4.19#N+D893,.8"<

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The Apple of our i

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Theglobaleconomystectonicshiftis 4+O+7,+/#."#A;;9+J2#8)"#4.2+(#B14C+/#G># +I;8"+",.19#9+1;2#."#;48P,2#).,*#+D+4>#"+)# hitidea.FromtheyearStevenP.Jobsand StephenG.Wozniakstartedthecompanyat Jobshome,Applehasgrownintoamulti billiondollarglobalenterpriseonthebackof innovationafterinnovation,withnohintof slowing.Afterall,theinnovationeconomyis arelentlesstreadmill,whereeveryrunneris justasgoodasitslasthitidea. Well,thisweek,oneoftheinnovationgames marathonmendecidedtoslowdown.On A3:<#5Q(#K8G2#R3.,#12#A;;9+#SHT(#2,1,.":# inhisresignationletterthetimehascome whenIcouldnolongermeetmydutiesand expectationsasApplesCEO.Thecompany announcedthatJobsremainsChairmanof theBoard(#9+1D.":#,8#S*.+E#T;+41,.":#TEP7+4# TimCookthehelmsmanspost. WithJobssseconddepartureasCEO,Apple 2*14+2#;48B;,9>#E+99(#12#B37*#12#&U#."#28B+# trades,amidfearsthatitsinnovationmagic wouldfadewithhisdiminishedrole.While *.2#P42,#+I.,#71B+#."#1#$%V@#G814/488B#G1,,9+# 1B./#21::.":#;48P,2(#,*.2#,.B+#,*+#A;;9+# cofounderisbowingoutapparently forhealthreasonsandwiththe 78B;1">#B84+#;48P,1G9+#,*1"# ever. Repeatedinnovation isthekey.Andthe keytoitssuccessis repeatedinnovation, especiallythe amazing,even inspiringand liberatingkind. WhenJobs returnedtothe *+9B#."#$%%&#12# CEOafterbeing G88,+/#83,#$5#>+142# before,Applebegan 4+/+P".":#78"23B+4# technology.Apple Inc:FiveElementsOf MakingGreatProducts listsperformance,design, durability,easeofuse,and innovativetechnologyasits winningformula.

ButwhatApplesellsisjusthalfthestory. Howitsellsistheotherhalf:superb marketingthatmakeshitstarsofgeek gadgets,as#W$$#HEE+7,.D+#0,41,+:.+2#A;;9+# UsestoCreateLoyalCustomersexplains. ANewsweekarticleentitledThinkReally DifferentsumsupthefoundingCEOs genius:Jobsisarelentlessperfectionist whosecompanycreatessuchbeautifully designedproductsthattheyhavechanged ourexpectationsabouthoweverything aroundusshouldwork.Hehasanuncanny abilitytocookupgadgetsthatwedidnt knowweneeded,butthensuddenlycantlive without. Redesigninghowpeopledothings. Indeed,morethanmakinghitproducts, Appleisredesigninghowpeopleusethegrey matterbetweentheirheads,fromlisteningto musicandwatchingshowstochattingwith friendsandprocessinginformation.And becauseithasluredtensofmillionsaround theworldtodothingstheAppleway,this mammothfollowingdrawsotherinnovators andenterprisestoitshardwareandsoftware platforms,asForbesmagazinereports. Thus,softwaredevelopershavealsofound aplatformfortheirapplications,orapps, intheformoftheiPhoneandtheiPad. Appscanrangefromgamestomusic, photography,reference,learning,newspaper andmagazinesubscriptions,entertainment, lifestyle,socialnetworking,andthelistgoes on.Applehascreatedanecosystemthat consumerstrust.Itsaverycompellingplace tobeasadeveloper,BartDecrem,founder andCEOofTapulous,makerofgameslike TapTapRevengeandRiddimRibbon,tells Newsweek. Anentirelynewbusinessmodel. AccordingtoFortunemagazine,thetech companyhasindeedsetthegoldstandard forcorporateAmericawithanentirely newbusinessmodel:creatingabrand, morphingit,andreincarnatingittothrive inadisruptiveagewithproductsthat haveupendedoneindustryafteranother: consumerelectronics,therecordindustry, themovieindustry,videoandmusic production.Withthat,Applelandedthe ?@,*#2;8,#8"#,*+#X84,3"+#@66#9.2,.

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