The objective of this report is to evaluate the issue of finance and promotion for administrators in Apple Corporation. The main point of discussion is how Apple’s managers should use resources effectively for the benefit of the entity. It also intends to show that the finance and marketing sections have a symbiotic relationship. Therefore, Apple has better plans on how to push its agenda forward. The marketers also advertise their products using social and mass media platforms. The primary intention is to create awareness about the existence of the company’s products to beat the competition in the industry. The company also strives to utilize its finance most appropriately. Apple always uses its resources well at all times. This is because when the firm’s resources are not managed appropriately, then the entire corporation can collapse. Therefore, finance managers should always do follow up on how the funds of the organization are used.
Finance and marketing for managers
This part of the report shows how managers are going to use resources appropriately and market Apple Company to the target audience. The administrators of the entity will ensure that the funds allocated to the administrators are used for the intended purpose. The primary objective is to ensure that the shareholders get a return on their investment and the company remains stable. Therefore, the measure can assist in reducing the conflict between administrators and the shareholders. This problem occurs when the administrators of the entity use the money for the wrong purpose. Also, the finance managers will use their skills to safeguard the company from collapsing. One of the approaches is by preparing budgets and ensuring that the organization operates within the set budget limit (TIAN & CHEN, 2016). It can assist in saving a lot of resources which might be used by the entity to expand its operations. Proper use of resources will ensure that the company maintains sufficient cash flows to carry its activities. It is highly advisable that Apple continues to prepare yearly financial statements to show its performance and resources. These statements can inform both the insiders and the external audience on how the company used its resources. It is because Apple publishes its audited statements every year.
Better use of funds can also increase public and investors’ confidence in the future. In this case, individuals will be aware that they cannot lose their investment in the company. Besides, the shareholder may be willing to commit their funds in the company since it is profitable. Administrators should ensure that the funds of the entity are used well. As a result, they should use all means to ensure that the company thrives. It will ensure that it continues with its operations as a going concern. In this case, the finance can examine the financial performance and financial position of the corporation using accounting ratios. Therefore, they should use the principles of costing and pricing of commodities to enable the company to propel to greater heights.
Dmitrieva (2017), asserts that the finance managers of Apple can also work with the external auditors of their corporation to ensure that their financial statements are free from any misstatements. The measure may safeguard the assets of the entity. Therefore, the chances of losing cash as a result of misappropriation will be minimized. Administrators should consequently monitor their staff members closely to ensure that they abide by the rules of the business. Furthermore, it can assist in eliminating any conflict of interest that may arise.
According to Leśniak-Moczu (2016), marketing is also essential for managers at Apple. This is because it has a direct impact on the firm’s performance. Therefore, marketing managers can allocate resources for advertising the company’s products such as phones. Most of the entity’s items are attracting a high market internationally. Marketing is essential to the corporation as it will help it to gain a competitive advantage over its rivals in the industry. In this case, marketing administrators should continue with this activity even if the company is well known across the globe. It should keep on reminding their customers about the existence of their products in the market. It is because of the risk of losing some of their customers to their worthy competitors like Samsung and other electronic corporations.
The required skills for finance administrators
Various organizations have their standards for their financial managers. However, there are no uniform standards for those who serve in that position. Though, there are some abilities that individuals in those positions should have specific skills. First, one should be able to influence individuals towards attaining the objectives of the entity (Leśniak-Moczuk, 2016). One of the aims is to minimize the costs of Apple through the use of advanced technology and to increase its profits. The leaders must also be able to utilize the company’s resources. One of the approaches is by having good management skills. In this case, they should be able to prepare budgets for the entity to ensure that the corporation does not strain its resources. Also, finance managers should have excellent communication and teamwork skills. This can assist the members of the organization in working towards attaining the objectives of the firm.
Additionally, the professional should have an accounting background. It is because most of the work deals with issues of money which are a sensitive issue for any entity. Finally, they should have administration skills which will assist them in managing people.
Skills for marketing administrators
Marketing is one of the essential areas where Apple must emphasize. It is capable of bringing business to the company. Additionally, it is the only way Apple can beat other established competitors such as Sam-sung in the industry. However, those who have been given the responsibility must have skills that will enable them to market the business well. A marketing manager should, therefore, have excellent public relations skills. The person should have a better relationship with the clients, employees and other stakeholders in the industry. This may help in building the image of the corporation to the outsiders such as the clients. The step can eventually influence more people to associate with the entity. The administrators must also have digital marketing skills to enable them to market the corporation. As a result, they can use modern forms of selling such as the internet to advertise Apple’s merchandise. This can have a positive impact on the corporation as it will increase its sales. These efforts can also increase the revenues of the company in the future.
Additionally, the marketer should also have excellent communication skills (Dmitrieva, 2017). This will enable him or her to quickly convey the message to the audience. The approach used to pass the information to the people might influence them to purchase the company’s products. Besides, the person should also be a good strategist and a team member. The individual should analyze the market and embrace new plans that will enable the business to thrive. With these abilities, the marketing manager should be able the company to enjoy a competitive advantage over the rivals in the same industry. The measure may influence the chances of business growth in the future.
The purpose of this report is to inform everyone that finance and marketing for managers are essential for the company’s success. Thus, managers should use the resources well to ensure that the business does not lose its resources. Consequently, it can also help in minimizing the misuse of funds within the entity. Proper use of resources will also ensure that the company has enough cash flows to run its activities smoothly. The company should also ensure that it has a robust internal control system. The purpose is to make sure that all workers are vigilant and able to manage the resources at all times. They can also check what others are doing and report any abnormalities to the management. However, marketing managers should also strive to promote the activities of the corporation. Therefore, sufficient resources should be set aside for these activities. Advertising for the business is necessary as their benefit outweighs its costs. The corporation can also improve the quality of its products and services in the future. It can enable it to get referrals from satisfied clients.
Dmitrieva, A. (2017). THE ROLE OF MARKETING IN SHAPING INNOVATION STRATEGY OF THE COMPANY. Business Strategies, (1), 32-36. doi: 10.17747/2311-7184-2017-1-32-36
Leśniak-Moczuk, A. (2016). Vision, Strategy, Innovation in Apple Company. Zeszyty Naukowe Uniwersytetu Szczecińskiego Finanse Rynki Finansowe Ubezpieczenia, 5, 33-40. doi: 10.18276/frfu.2016.5.83/2-03
TIAN, S., & CHEN, D. (2016). “Hunger Marketing” Strategy and Its Application Research—Based on Apple Products. Destech Transactions on Economics and Management, (icem). doi: 10.12783/dtem/icem2016/4062