Skills Building

Overall, investing in research and development is key for staying competitive in today’s market. By dedicating resources towards exploring new ideas and technologies now, companies like Apple can create an edge over competitors by providing customers with improved products and services later on. References: Kwang Ting Chang & Chun jer Hsu (2020). Evaluating App Store Performance Between Android And iOS Platforms Using Data Mining Techniques [online]. International Conference On Big Data Science And Engineering Applications; pp 1–13 [viewed 16 March 2021]. Available from: https://www.researchgate.net/publication/342593997_Evaluating_App_Store_Performance_Between_Android_And_iOS_Platforms_Using_Data _Mining _Techniques Vijayakumar S., Elangovan P., Prabu K., Sujatha M.(2018) An efficient approach for application store performance comparison using data mining techniques [online] International Journal Of Pure And Applied Mathematics ;11(3);pp 621-627 [viewed 16 March 2021]. Available from :https://pdfs.semanticscholar.org/bcf2/7fbc2052d851e948ef53c83a2261abc40f1d .pdf Xioi Xie & Zhenghui Zhao (2019).The Impact of Firm Researchand Development Expenditureon Market Value : Evidence From China[ online]. Asia Pacific Management Review ; 24(3);pp 121–130[ viewed 16 March 2021 ]. Available from: https://www.sciencedirect .com /science/article /pii/S1538544219300295

Sample Solution

Yes, investing in research and development (R&D) is a smart move for Apple. Research and development activities are essential to the growth of businesses because they foster innovation and the ability to develop new products that can generate additional revenue streams. Apple’s commitment to R&D has allowed them to stay ahead of the competition while also creating more opportunities for their products in new markets. Apple's investments have been instrumental in developing innovative hardware including iPhones, iPads, Mac computers and other consumer electronics such as Apple Watches. Additionally, through its R&D initiatives, Apple has developed software tools like Siri which allow users to access features with voice commands or gestures on their devices (Kwang & Chang 2020). Apple’s dedication towards R&D is seen through its constantly increasing budget each year - from 8 billion dollars in 2017 to 15 billion dollars in 2019 - showing that it is investing heavily into this area (Xie & Zhao 2019). This money has allowed Apple to experiment with ideas that may be beneficial but do not yet generate any revenue, thus helping support future growth opportunities. The company feels confident that by continuing these long-term investments they will reap significant rewards down the road when those innovations become commercialized (Vijayakumar et al., 2018).