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Today Apple announced its new iPad. Again this provides a lesson in
decision making. With every Apple decision over the last decade, it will
be criticized by many. The iPod was criticized because it would be just
another music player. iTunes a was criticized because it was just
another music store. The iPhone was criticized by many because Apple
could not compete in the cell phone business. Apple apps were criticized because their value was not understood. The iPad is just a big iPod -
that will be the criticism - too expensive, limited in media available,
etc. But Steve Jobs, and Apple, can teach everyone valuable lessons in
decision making.
These decisions were single decisions; they were a
decision to go down a new path. Each of these was the launch of a new
product line in a new market space, not just a product. There are two
decision lessons here for businesses. The first is to look at strategic
decisions like this as creating a new path, not just a single decision. A
new path creates opportunities along the way - opportunities to launch
new versions of the product and keep improving it. Apple kept improving
the iPod, iTunes Store, and iPhone along the way, creating $12 billion
in additional revenue. Businesses should approach strategic decisions a
starting a journey on a new path and consider the opportunities it
creates.
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