The relationship between Steve Jobs and Apple


The relationship between Apple and Steve Jobs may be difficult to replicate between Apple and Cook, from the start of the transition phase in setting, companies should rely entrepreneurs from special investment authoritarian model, the evolution of the balance of rational and emotional model of corporate governance.

  2013, Apple Computer (AAPL.NSDQ) no Steve Jobs ushered third year, Tim Cook also took third year.Although the digital product market, Apple is still one of the best industry giant, in 2012 the company continued to maintain first place in the global market capitalization rankings, but consumers and investors are already aware of this ever changing world, the company is gradually losing its aura.

  First, the public eagerly look forward to the first iPhone5 no surprise to the market, but because of Google Maps scandal and hardware flaws, Cook had appeared apologized to consumers.Followed by profit below the market expectations, leading to the sharp decline in the growth rate of gross profit over the same period the share price plummeted.In addition, Samsung's lawsuit has been plagued by Apple, and Samsung in 2012 to replace the Apple became the largest smartphone maker, also shows Apple's market share in the gradual decline.Recently, a series of problems for China Cook in 3.15 Consumer Protection Day presented to Apple's PR deal with alleged apology sincere enough, some analysts said that is no longer recommended and therefore Apple stock.

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  A series of behind the phenomenon, although it is too early to say that Apple's decline, but we have reason to worry.Jobs behind him understand how Apple will inject a special energy transfer to the successor manager of the human body in order to facilitate sustainable development of enterprises, Chinese enterprises have an important reference Everlasting.

  The value of Apple's Steve Jobs

  Was responsible for marketing at Apple's Kawasaki said: "Steve has injected too much to Apple his genes, you can say no Steve Apple can achieve some degree of success, but it's hard to say without him Apple may prosper to the point. "Kawasaki evaluation, compared to Apple's Steve Jobs in value terms, remained conservative.Jobs' return to Apple from the beginning of 1997, especially in 2000, Jobs became the true meaning until 2012 after Apple CEO, Apple to show the world the amazing growth of the market value (Figure 1).


For a company, investors can have a lot of, and may change at any time, but it is the only creator.On Apple, Steve Jobs of Apple was not initially created only for profit, but for the interest and enthusiasm.Because of this unique emotional investment, so that when Steve Jobs as CEO of Apple does not make any adverse decision, and strive to perfect the product, not blinded by short-term interests.

  Steve Jobs is a dream, and his thoughts often incredible, and most decisions are not based on market research as a judge, but only by his imagination.Because of this, Apple's Steve Jobs era difficult to imitate other companies.Apple's Steve Jobs is irreplaceable asset for Apple to bring a steady stream of value.Apple is the first company to include software development and hardware production of one of the company, Steve Jobs technology products under the relentless pursuit of integrity, Apple developed a ground-breaking hardware, but also developed a great application software. The success of Apple products is that it not only provides consumers want, more product experience beyond consumer expectations.In addition, Steve Jobs to Apple's products into its aesthetic philosophy - simplicity.The iconic white headphones, streamlined product modelling, as well as classic official logo have become a fashion symbol.Jobs' innovative spirit, perfectionism and the combination of technology and humanities pursuit of excellence to create a brand image of Apple, and attracts thousands of "powder."Loyalty is hard to say clearly these consumers from the product itself or from Apple Steve Jobs.

  Jobs excellence who has also attracted a large number of hotshots Chester, and inspire them to continue to break through the self.A typical example, after Jobs' return to Apple was dying, Apple in many ways has been significantly improved, while only the inventory cycle has been no improvement.Therefore, Apple urgently needed a good inventory management manager.It is at this time Jobs Cook found that the current Apple CEO.Cook was already working at IBM for 10 years, Steve has successfully poaching, let Cook came to its never set foot in the electronics industry companies. Cook, Apple's excellent inventory cycle shortened from four months to less than 48 hours.The same story also occurs in Walker Steve Wozniak encourage innovation in technology, will skali Pepsi dug from Apple was still small businesses, as well as to attract Apple developed the latest designer touch technology on.While Steve Jobs do not always choose the right person, but his own passion for excellence and be able to attract the best people to join the team and be able to motivate Apple continue to better ourselves.

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  Apple's Steve Jobs worth

  Jobs for Apple's value and contribution of doubt, in turn, for Steve Jobs, Apple is irreplaceable, if Apple after Steve Jobs did not create the door, do not create Next experiences no crisis return to Apple in Apple, he also difficult to achieve so much success.This is not only his personality and dreams, but also on these occur in apples and twists his body experiences.

  Unfinished dream realized.Irreplaceable first from Apple's Steve Jobs and the pursuit of dreams.After leaving for 10 years, Steve Jobs returned to Apple decided not to be trying to equity or salary.In fact, the former Apple shares soared, Jobs in Disney shares worth far more than its Apple wound up in Apple, if money is the main purpose of Steve Jobs, Steve Jobs should spend more than thought to Disney, rather than returning to the dying .Jobs' return to Apple before the decision, he is Pixar (Pixar), CEO and largest shareholder, has absolute control.However, Apple's Steve Jobs to give up everything in Pixar's, and eventually sold to Disney Pixar.

  For Jobs, the make some things seem to change the world as ranked by Forbes rich than to become much more meaningful.After the success of the Apple II, Jobs riveting enough strength to develop new products, but these new products are not expected to get his success.Shortly thereafter, Jobs juggling will skali Pepsi dug from Apple, but with the huge differences in the occurrence of new CEO, Steve Jobs finally hit the door, and had to leave Apple.Apple's Steve Jobs is the lack of truly prove himself and realize himself.Apple is not only interested in where he's been, but also his way of achieving life ambitions.So when Steve Jobs return to Apple put a lot of time and dedication to work non-stop to develop new products.Even late in his life, suffering from pancreatic cancer, Jobs did not choose to resign, but continue to use the last moments to realize his dream of a blueprint.Apple's Steve Jobs, there are dreams, Apple has full authority to make Steve Jobs to realize their dreams, and as such, Apple's Steve Jobs is in the minds of irreplaceable.

  Let the past pay fruition.During leaving Apple, Jobs created dedicated to developing integrated software and operating systems Next.However, Microsoft is compatible with a strong ability occupied the main market.In order to gain a place, Next to exit the hardware market in 1993, concentrating its promotion of the development of software Open step, excessive pricing and did not let Open step favoured by the market. December 1996, Next Apple to $ 430 million and the acquisition of 150 million shares. Why is Apple bought Next, Apple's Steve Jobs is willing to sell rather than other companies Next?Failure of a product may be many reasons, next failed, not because of the product itself.Next's software products are very advanced.Next if allowed to fail, Jobs efforts in the development of the software before you were in vain.Next merger makes Steve Jobs previously invested in the software continuity and get a return.Such as Apple's iOS operating system is the development on the basis of Open step out.

  Invisible contract - Steve Jobs and Apple

  Although the value of Jobs' Apple cannot write on the financial statements, but may lead to Steve Jobs left Apple in any event will affect Apple's stock price (Table 1).


  Yinqiaobusi importance, and after his return to Apple in many ways strongly with their habits and decisions.Steve Jobs makes irreplaceable value has been greatly bargaining power.As we all know, Steve Jobs does not get along with his demands for the product almost to the point of nit picking.Apple has been in front of all of its employees, the work done by an engineer and ironic dismissal.Apple employees even dare for fear of being expelled from the same class with Steve Jobs to take the elevator.But because of the importance Jobs, Apple's shareholders and employees had to endure Jobs arrogance and arrogance.At the same time, Jobs for the appointment of board members and board of directors also has a great influence.One example is Steve Jobs to be rented a large space in the centre to operate Apple outlets proposal was rejected by the board. But soon afterwards, when he was Chairman of the Board of Directors of Apple incompetent resignation on the grounds that Apple outlets plan to achieve the ultimate in accordance with the idea of ​​Steve Jobs.

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  Of course, the face of Steve Jobs, Apple is not without any bargaining power. Apple’s Steve Jobs chips is the pursuit of ideals and past Apple's investment.Because such chips, Apple does not spend too much effort on corporate governance, supervision of Steve Jobs took to the high cost.At the same time, because this special pay, Jobs left the company without fear, and without taking the traditional executive compensation and equity incentive to unify the interests of Steve Jobs and Apple.Although Apple's Steve Jobs is the largest individual shareholder, but Apple's shares does not exceed 1% of the annual salary of only $ 1 Steve Jobs, Apple is Steve Jobs some non-monetary rewards, such as a private jet to facilitate their travel (Table 2 ).


  Tangible contract - Cook and Apple

  2011 Apple CEO Steve Jobs resigned after Cook took office.Jobs and different, Cook young, traditional education and standardized business training.Because many years of experience operating officer, Cook's pay more attention to operating efficiency.The synergistic effect of the image of Steve Jobs and Apple personal image and brought the body cannot be reflected in the Cook.Steve Jobs of Apple products reflect the character, but it seems unlikely to be compatible with Cook's character.Cook may be a good executive, and Steve Jobs, but compared to his value as a special apple injected shame.On the other hand, Apple's Cook, nor is it so unique, Cook's management capacity in any other company can come in handy.More importantly, Cook was not the founder of Apple, he did not like Steve Jobs at Apple have experienced ups and downs, even with the pursuit of self-realization, Cook, and Apple’s Steve Jobs cannot match the emotional appeal.In addition, the blueprint of Apple, Steve Jobs realized step by step, although Cook become Apple's CEO, Steve Jobs, but still dream of doing, even if Apple recently revealed that he might start producing TV products, the plan also Jobs During bit, there's.

  Because the symbiotic relationship between Apple and Steve Jobs and Apple does not apply to Cook, the traditional contract will pay the latter came in handy.Apple designed the compensation plan for the Cook and Steve Jobs is significantly different (Table 2).In terms of wages, Cook in 2011 and 2012 were as high as $ 900,000 salary and $ 1,350,000; in terms of equity incentives, Apple for short-term incentives and long-term incentives are considered, Cook took office in 2011 rewarded Cook more than 300 million US dollars’ worth of restricted stock, and stressed that the equity incentive Cook served only 5 and 10 years, the CEO can be achieved.

  2013 was the first 15 years of work at Apple Cook, along with the cumulative time of his emotional investment in Apple probably will be more and more, in Apple's future development plans, and if so Cook could do more in keeping with his personal interest in the product, Apple's Cook may also invest more and more.However, the relationship between Apple and Steve Jobs may be difficult to replicate on Cook and Apple.Even the stock option incentive compensation dependent settings may not allow Cook camel love like Steve Jobs of Apple.A large number of academic studies have found that equity incentive is not easy to draw the line, but will make use of improper professional managers overly aggressive interest renegade company owners.

  The relationship between Steve Jobs and Apple, is not a simple matter of interest can be established and maintained.According to Maslow's hierarchy of needs, after basic needs are met, the manager will seek to achieve high levels of self-respect and demand. Managers and the company's pursuit of emotional self-realization can form the manager of a special investment companies, which have brought their self-worth and business, but if the manager to leave the business, these values ​​will dissipate, because these intangible special assets not take, do not stay.Once the managers of enterprises have a particular investment, they do not need a contract with the company has a tremendous amount of terms and conditions, but it can contribute to reconcile them with the interests of the company, just like Steve Jobs takes only $ 1 a year salary.

  To the non-entrepreneurs professional managers who create a "value of the entrepreneur," the key is to let professional managers of enterprises enthusiasm and effort into a particular investment.To form such a specific investment, first of all, companies in the search for a professional manager, in addition to considering the capacity factor, it should consider their personal passion and interest matches the company's development.Secondly, professional managers already in place, companies should explore their different levels of demand, giving them the opportunity to achieve self-enterprise development, which is to inspire them with business development to match individuals to achieve high levels of demand.Furthermore, companies can enhance the training of professional manager’s loyalty, strengthen the team culture, professional managers of the company to increase the emotional investment.

  Implications for Chinese Enterprises

  Compared to the United States, China's entrepreneurs face a more difficult business conditions and a more challenging market environment.Among them there are some like Western entrepreneurs like single-handedly created the enterprise who pay a lot of effort?This founder of a particular intangible investment for the company is like an intangible asset, increase the value of the company.These successful entrepreneurs often do not need a complex incentive pay, although they hold a lot of equity business, but generally not easily sell the cash, even for long periods of dividends.

  Today, many private enterprises in China's first generation of entrepreneurs who are already facing aging abdication, the next generation of managers transition period.How entrepreneurs intangible heritage to a new generation of managers who are able to key Evergreen Foundation.For a family successor, words and deeds and family norms is a common method of heritage values.However, even if they are family members, but also the founder of the intangible heritage only partially.Therefore, the second generation of family managers the appointment, remuneration and promotion must be moderately with their contribution to the enterprise linked to their decisions must be monitored, but not if their parents have complete freedom as sway.For professional managers, we must have performance-related pay system personnel, but also to provide a platform for them to play with passion ideal opportunity, and in a variety of ways to get them to agree and share the corporate culture.From start to Shouye stage, the company should rely entrepreneurs from the tyranny of special investment schema evolution to balance rational and emotional model of corporate governance.This process must be careful planning, before and after the departure of entrepreneurs about 10 years to complete.