Steve Jobs: Triumph at Apple In 1997, Apple was on the brink of collapse, plagued by mismanagement and failing finances. Steve Jobs emerged as the crucial figure to rescue the company. Apple was exploring new operating systems, and amidst this chaos, the board reinstated Jobs, recognizing he alone could revitalize Apple. A significant event was Apple’s CEO, Gil Amelio, acquiring NeXT in December 1996 for $429 million—an action indicating Amelio wasn't capable of saving the company. Jobs had the unique charisma and vision needed. Two key actions highlight this: 1. Partnerships and Investment: Jobs convinced Bill Gates to support Apple by committing to making software for Macs, and secured a $150 million investment in nonvoting Apple shares. 2. Leadership and Vision: Fred Anderson's role was pivotal as CFO in sustaining Apple financially, but Jobs’s vision and understanding of Apple's essence were transformative. His return marked the beginning of Apple as a powerhouse. Jobs was appointed "interim" CEO in 1997, a title shedding to just CEO by 2000. From 1997 until his death in 2011, Jobs was a symbol of visionary leadership. His efforts to craft products like the iPod, iPhone, and iPad were key to propelling Apple to success. Jobs’s journey was not just about fulfilling personal ambition but positioning Apple as an equal to Microsoft, aligning himself with other tech giants. Source: [Harvard Business School](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

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Related questions

Question

In order to transform Apple, Steve Jobs had to whip the company into shape. This would involve setting up high
performance teams. In setting up these teams, what are the characteristics that Jobs should consider, to ensure that the
teams could perform highly?

**Steve Jobs: Triumph at Apple**

In 1997, Apple was on the brink of collapse, plagued by mismanagement and failing finances. Steve Jobs emerged as the crucial figure to rescue the company. Apple was exploring new operating systems, and amidst this chaos, the board reinstated Jobs, recognizing he alone could revitalize Apple. A significant event was Apple’s CEO, Gil Amelio, acquiring NeXT in December 1996 for $429 million—an action indicating Amelio wasn't capable of saving the company.

Jobs had the unique charisma and vision needed. Two key actions highlight this:

1. **Partnerships and Investment**: Jobs convinced Bill Gates to support Apple by committing to making software for Macs, and secured a $150 million investment in nonvoting Apple shares.

2. **Leadership and Vision**: Fred Anderson's role was pivotal as CFO in sustaining Apple financially, but Jobs’s vision and understanding of Apple's essence were transformative. His return marked the beginning of Apple as a powerhouse.

Jobs was appointed "interim" CEO in 1997, a title shedding to just CEO by 2000. From 1997 until his death in 2011, Jobs was a symbol of visionary leadership. His efforts to craft products like the iPod, iPhone, and iPad were key to propelling Apple to success.

Jobs’s journey was not just about fulfilling personal ambition but positioning Apple as an equal to Microsoft, aligning himself with other tech giants.

**Source**: [Harvard Business School](https://hbswk.hbs.edu/item/steve-jobs-and-the-rise-of-the-celebrity-ceo)

Expert Solution

Step 1

Team:-

A group of people who work together to carry out interdependent tasks in support of a common objective or mission is referred to as a team.

Some teams, like design teams focusing on new products or teams committed to ongoing process improvement, have a limited shelf life. Some of them are continuing, such as a department team that regularly gathers to talk about goals, strategies, and outcomes. Careful alignment is required in a big company with many teams.