2 Ways To Strategically Understand A Company
Are you new to a company's Product team? Here are two methods you can use to quickly understand a company and its buisness strategically.
Why-How-What Method
To strategically understand a company, it can be helpful to consider three key factors: the company's purpose or "why it exists", "how it differentiates" itself from its competitors, and "what products or services" it delivers.
Why-How-What Analysis for Apple
- "Why it exists": Apple's purpose is to design and develop innovative technology products and services that enhance and simplify consumers' lives.
- "How it differentiates itself": Apple differentiates itself through its focus on design and user experience, as well as its integrated ecosystem of hardware, software, and services.
- "What products or services it delivers": Apple delivers a wide range of products and services, including the iPhone, iPad, Mac, Apple Watch, AirPods, Apple TV, and various accessories. It also offers services such as the App Store, Apple Music, iCloud, and Apple Pay.
Why-How-What Analysis for Google
- "Why it exists": Google's purpose is to organize the world's information and make it universally accessible and useful.
- "How it differentiates itself": Google differentiates itself through its search capabilities, as well as its use of machine learning and artificial intelligence to improve its products and services.
- "What products or services it delivers": Google delivers a wide range of products and services, including search, Gmail, Google Drive, Google Maps, Google Calendar, Google News, Google Photos, and YouTube. It also offers services such as Google Ads, Google Analytics, and Google Cloud.
5C Analysis Method
A 5C analysis is a method used to evaluate the external factors that can affect a company. The 5Cs stand for:
Company: This includes the internal factors that can impact the company, such as its management, financials, and resources.
Customers: This includes the market segments that the company serves and their needs, buying behavior, and preferences.
Competitors: This includes direct and indirect competitors and their market positions, strengths, and weaknesses.
Collaborators: This includes suppliers, partners, and other companies that the company works with to support its operations.
Climate: This includes the external factors that can impact the company, such as economic, technological, political, and social factors.
To conduct a 5C analysis, you will need to gather information on each of these areas. This can include financial reports, market research, and interviews with industry experts.
Once you have collected the information, you can analyze it to identify key trends, opportunities, and threats that can affect the company's performance. This analysis can help you to develop a strategic plan for the company that takes into account the external factors that can impact its operations.
5C Analysis Method for Apple
Company: Apple is a multinational technology company that designs, develops, and sells consumer electronics, computer software, and online services. It has a strong brand, a loyal customer base, and a history of innovation. Its financials are strong, with a large cash reserve and high profits.
Customers: Apple's customers include individuals and businesses. Apple's products are known for their design and user experience, and the company targets customers who are willing to pay a premium for these attributes. Its customers are loyal, with a strong brand following.
Competitors: Apple's main competitors include Samsung, Huawei, and Google. These companies also offer a wide range of consumer electronics and compete with Apple in the smartphone and tablet markets.
Collaborators: Apple works with a wide range of suppliers, partners, and other companies to support its operations. These include companies that provide components for its products, such as Samsung and LG, as well as companies that provide services, such as Google and Amazon.
Climate: The external factors that can impact Apple include economic conditions, such as changes in consumer spending and the strength of the US dollar. The technology industry is constantly evolving, with new products and services being introduced regularly, which can make it difficult for companies to stay competitive. Apple also faces political and regulatory challenges, such as data privacy concerns and tariffs on Chinese imports.
Overall, Apple is a well-established company with a strong brand, a loyal customer base, and a history of innovation. Its financials are strong, and it has a wide range of collaborators. However, it faces strong competition from other technology companies and is affected by economic and political factors. Apple will need to continue to innovate and adapt to changes in the market to maintain its competitive edge.
5C Analysis Method for Google
Company: Google is a multinational technology company that specializes in internet-related services and products. It operates the world's largest search engine and also offers a wide range of other products and services, such as advertising, cloud computing, and mobile operating systems. Google is known for its innovative culture, strong brand, and large user base.
Customers: Google's customers include individuals and businesses. The company's main source of revenue is advertising, and it targets customers through its search engine, email, and other online platforms. Google also offers enterprise-level products and services for businesses, such as Google Workspace, Google Cloud, and Google Maps.
Competitors: Google's main competitors include other technology companies such as Microsoft, Apple, and Amazon. These companies also offer a wide range of internet-related products and services, and compete with Google in the search engine, advertising, and cloud computing markets.
Collaborators: Google works with a wide range of suppliers, partners, and other companies to support its operations. These include companies that provide components for its products, such as Samsung and LG, as well as companies that provide services, such as Facebook, Twitter, and Amazon.
Climate: The external factors that can impact Google include economic conditions, such as changes in consumer spending and the strength of the US dollar. The technology industry is constantly evolving, with new products and services being introduced regularly, which can make it difficult for companies to stay competitive. Google also faces political and regulatory challenges, such as data privacy concerns and antitrust investigations.
Overall, Google is a well-established company with a strong brand, a large user base, and a reputation for innovation. Its financials are strong, and it has a wide range of collaborators. However, it faces strong competition from other technology companies and is affected by economic and political factors. Google will need to continue to innovate and adapt to changes in the market to maintain its competitive edge.
