Read the extract and answer ALL questions that follow. Steve Jobs: Triumph at Apple Steve Jobs was the only man in the whole world who could have saved Apple in 1997, and Apple needed to be saved. The company was successively mismanaged and was failing. Without going into the gory details, Apple's products had deteriorated, its marketing was dreadful, and its finances would have collapsed had it not been for CFO Fred Anderson's work. Apple went shopping for a new operating system in a desperate attempt to remain relevant in the world of Windows 95. In a remarkable turn of events, Apple's then CEO, Amelio, engineered the purchase of NeXT in December 1996 for the startlingly high price of $429 million in cash and stock. It was obvious to any sentient being that Amelio was not the man to save it. Michael Dell said it should be liquidated. Did Steve really want to put himself through what was needed to fix this company? There are two reasons that only Steve Jobs could have saved Apple in 1997. First, Jobs persuaded Bill Gates to continue supporting Apple by announcing a five-year commitment to writing software, specifically Office for the Mac. Jobs also convinced Gates to invest $150 million in nonvoting shares of Apple. Amelio had attempted to negotiate a similar arrangement with Gates and had failed. Second, Steve was able to endow the work of others with meaning as no one else at Apple could. Fred Anderson, who was hired as chief financial officer in 1996 and did yeoman work keeping Apple afloat financially despite its declining sales, said Steve "understood the soul of Apple. We needed a spiritual leader that could bring Apple back as a great product and marketing company. So we had to have Steve." They got Steve. Amelio was summarily ousted on September 16, 1997. He wrote, "I had, along with many others... been trapped by the charisma and boldness of this unusual man." Steve became "interim" CEO, a title he held for three years.. The "interim" was dropped in 2000. In the years from 1997 to his death in 2011, Steve became an icon of the business world-the man who defined charisma in the context of enterprise. Four reasons stand out: the creation of Apple Retail, the iPod, the iPhone, and the iPad. In order to transform Apple into the vehicle to fulfill his ambition, Jobs had to whip the company into shape. His goal was not only to make a dent in the universe but also perhaps, in the far-off and unimaginable future, to put himself on par with Bill Gates. (Adapted from source: https://hbswk.hbs.edu/item/steve-jobs-and-the-rise-of-the-celebrity-ceo)

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
icon
Related questions
Question

If you were in a situation like Steve Job where you had to take over a failing company, state which process theory of
motivation (Expectancy or Equity) you will employ, to motivate staff and provide a detailed explanation to substantiate your
choice. 

Read the extract and answer ALL questions that follow.
Steve Jobs: Triumph at Apple
Steve Jobs was the only man in the whole world who could have saved Apple in 1997, and Apple needed to be saved. The
company was successively mismanaged and was failing. Without going into the gory details, Apple's products had
deteriorated, its marketing was dreadful, and its finances would have collapsed had it not been for CFO Fred Anderson's
work. Apple went shopping for a new operating system in a desperate attempt to remain relevant in the world of Windows
95. In a remarkable turn of events, Apple's then CEO, Amelio, engineered the purchase of NeXT in December 1996 for the
startlingly high price of $429 million in cash and stock. It was obvious to any sentient being that Amelio was not the man to
save it. Michael Dell said it should be liquidated. Did Steve really want to put himself through what was needed to fix this
company?
There are two reasons that only Steve Jobs could have saved Apple in 1997. First, Jobs persuaded Bill Gates to continue
supporting Apple by announcing a five-year commitment to writing software, specifically Office for the Mac. Jobs also
convinced Gates to invest $150 million in nonvoting shares of Apple. Amelio had attempted to negotiate a similar
arrangement with Gates and had failed. Second, Steve was able to endow the work of others with meaning as no one else
at Apple could. Fred Anderson, who was hired as chief financial officer in 1996 and did yeoman work keeping Apple afloat
financially despite its declining sales, said Steve "understood the soul of Apple. We needed a spiritual leader that could
bring Apple back as a great product and marketing company. So we had to have Steve." They got Steve. Amelio was
summarily ousted on September 16, 1997. He wrote, "I had, along with many others... been trapped by the charisma and
boldness of this unusual man."
Steve became "interim" CEO, a title he held for three years.. The "interim" was dropped in 2000. In the years from 1997 to
his death in 2011, Steve became an icon of the business world-the man who defined charisma in the context of enterprise.
Four reasons stand out: the creation of Apple Retail, the iPod, the iPhone, and the iPad. In order to transform Apple into the
vehicle to fulfill his ambition, Jobs had to whip the company into shape. His goal was not only to make a dent in the
universe but also perhaps, in the far-off and unimaginable future, to put himself on par with Bill Gates.
(Adapted from source: https://hbswk.hbs.edu/item/steve-jobs-and-the-rise-of-the-celebrity-ceo)
Transcribed Image Text:Read the extract and answer ALL questions that follow. Steve Jobs: Triumph at Apple Steve Jobs was the only man in the whole world who could have saved Apple in 1997, and Apple needed to be saved. The company was successively mismanaged and was failing. Without going into the gory details, Apple's products had deteriorated, its marketing was dreadful, and its finances would have collapsed had it not been for CFO Fred Anderson's work. Apple went shopping for a new operating system in a desperate attempt to remain relevant in the world of Windows 95. In a remarkable turn of events, Apple's then CEO, Amelio, engineered the purchase of NeXT in December 1996 for the startlingly high price of $429 million in cash and stock. It was obvious to any sentient being that Amelio was not the man to save it. Michael Dell said it should be liquidated. Did Steve really want to put himself through what was needed to fix this company? There are two reasons that only Steve Jobs could have saved Apple in 1997. First, Jobs persuaded Bill Gates to continue supporting Apple by announcing a five-year commitment to writing software, specifically Office for the Mac. Jobs also convinced Gates to invest $150 million in nonvoting shares of Apple. Amelio had attempted to negotiate a similar arrangement with Gates and had failed. Second, Steve was able to endow the work of others with meaning as no one else at Apple could. Fred Anderson, who was hired as chief financial officer in 1996 and did yeoman work keeping Apple afloat financially despite its declining sales, said Steve "understood the soul of Apple. We needed a spiritual leader that could bring Apple back as a great product and marketing company. So we had to have Steve." They got Steve. Amelio was summarily ousted on September 16, 1997. He wrote, "I had, along with many others... been trapped by the charisma and boldness of this unusual man." Steve became "interim" CEO, a title he held for three years.. The "interim" was dropped in 2000. In the years from 1997 to his death in 2011, Steve became an icon of the business world-the man who defined charisma in the context of enterprise. Four reasons stand out: the creation of Apple Retail, the iPod, the iPhone, and the iPad. In order to transform Apple into the vehicle to fulfill his ambition, Jobs had to whip the company into shape. His goal was not only to make a dent in the universe but also perhaps, in the far-off and unimaginable future, to put himself on par with Bill Gates. (Adapted from source: https://hbswk.hbs.edu/item/steve-jobs-and-the-rise-of-the-celebrity-ceo)
Expert Solution
Introduction

Case Summary:

Individual S the founder of Company A was the only man in the world who could save the company. Individual S made every effort to fix the issues and save the company. Later, Individual S became the interim CEO, the title that he held for three years. He became a renowned name and icon in the business world. 

steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Understanding Business
Understanding Business
Management
ISBN:
9781259929434
Author:
William Nickels
Publisher:
McGraw-Hill Education
Management (14th Edition)
Management (14th Edition)
Management
ISBN:
9780134527604
Author:
Stephen P. Robbins, Mary A. Coulter
Publisher:
PEARSON
Spreadsheet Modeling & Decision Analysis: A Pract…
Spreadsheet Modeling & Decision Analysis: A Pract…
Management
ISBN:
9781305947412
Author:
Cliff Ragsdale
Publisher:
Cengage Learning
Management Information Systems: Managing The Digi…
Management Information Systems: Managing The Digi…
Management
ISBN:
9780135191798
Author:
Kenneth C. Laudon, Jane P. Laudon
Publisher:
PEARSON
Business Essentials (12th Edition) (What's New in…
Business Essentials (12th Edition) (What's New in…
Management
ISBN:
9780134728391
Author:
Ronald J. Ebert, Ricky W. Griffin
Publisher:
PEARSON
Fundamentals of Management (10th Edition)
Fundamentals of Management (10th Edition)
Management
ISBN:
9780134237473
Author:
Stephen P. Robbins, Mary A. Coulter, David A. De Cenzo
Publisher:
PEARSON