If incremental and radical innovations are both critical, what percentage of resources should be allocated to developing each of these avenues, and how can you successfully manage and adjust strategies and plans for a future that is as yet unknown?

Both innovations are essential for the company’s sustained growth. Radical innovations should get a higher percentage of resources because they provide greater benefits than incremental innovations. Furthermore, the comparison when building products using radical innovations is significantly reduced in comparison to incremental innovations. This allows Apple to make significant revenues before the competitors adopt such innovations. Most importantly, they eliminate the innovation dilemma, which may occur due to a lack of new products (Liu, 2021). Such resource allocation provides significant sustainability for the entity in the future.

Critical aspects

Innovation

Innovation is one of the critical aspects that is clearly identified in the case study. Apple was built on innovation from the beginning. Incremental and radical innovations provide the company with the ability to create new products that solve current problems. Apple is renowned for its ability to innovate. This aspect sets Apple apart from the rest in the market because of the products it offers. Its products are targeted at the more affluent in society who like to be different. This explains the premium prices. To continuously satisfy this demand, innovation is critical for the entity.

Product development

Innovation yields product development. Apple’s product development is elaborate and undergoes intense reviews. Apple must produce new products based on radical innovations to remain relevant in the market. The radical innovations are risky but offer greater benefits in terms of margins and new markets. The introduction of new products in the market is only sustainable if the company continuously innovates.

Assessments

Apple’s history and recent performance came in handy to identify the critical aspects. For instance, Apple is built on a foundation of innovation. In IT, the advancements are rapid. This means that players such as Apple must be alert to these innovative technologies. They are responsible for making sure that technological advancements are incorporated into the new products. Failure to do this reduces the company’s relevance in the market. As a company that has a significant position in the global market, innovation is inevitable. In addition, the company’s previous CEO, Steve Jobs, built the company on constant innovation. Destructive technology was more prominent during his leadership, leading to a high number of patents. Exploring this technology allowed the company to enjoy a first-mover advantage, an aspect that is critical to its success (Liu, 2021).

Product development cannot be separated from innovation. The company uses IT to create other products that are reliant on advancements for functionality. Therefore, innovation by itself cannot sustain Apple. It must convert these advancements into products and services that are beneficial to its markets. This means that Apple uses technology to enhance the functionality of the gadgets it produces (Dawson & Andriopoulos, 2017). Elaborate product development allows the company to create products that are valuable to the target market.

Outcomes

The case study highlights various aspects that can be utilized as solutions. First, consistent improvement of products is a critical aspect that all organizations should adopt. When an organization consistently improves its offerings, it retains its market share and elicits loyalty among the clientele. Apple’s ability to constantly improve its products explains the consistent success and retention of market share.

Secondly, the need for constant innovation is essential for the maintenance of a leading position. Competition in the IT market is stiff. This means that Apple must offer additional aspects to its products to charge premium prices. This is achieved through innovation. Failure to innovate could stagnate the organization, making it difficult to make profits. Innovation precedes product development. The constant development of products that incorporate various innovative technologies allows an entity to face stiff competition and emerge as a leader.

Thirdly, radical innovations provide an avenue for IT entities that intend to occupy the lead position in a sector. The radical innovations carry greater risk but offer increased benefits due to the reduced competition. They also place the entity in a better position when compared to competitors. Organizations such as Apple can use these innovations to propel growth and increase its margins. Creating products from these radical innovations makes it easy to appeal to the broader market. Organizations that constantly innovate remain relevant because they provide practical solutions that are needed in the market. Such organiza