Steve Jobs: Triumph at Apple Steve Jobs was the only person who could have saved Apple in 1997, and Apple needed saving. The company was mismanaged and failing. Apple's products had deteriorated, and its finances would have collapsed if not for CFO Fred Anderson's work. Apple needed a new operating system to remain relevant during the rise of Windows 95. Apple's CEO, Amelio, engineered the purchase of NeXT in December 1996 for $429 million in cash and stock, highlighting Apple's dire situation. Michael Dell even suggested Apple be liquidated. Did Steve really want to fix the company? There are two reasons only Steve Jobs could have saved Apple in 1997. First, Jobs convinced Bill Gates to support Apple by committing to writing software, specifically Office for the Mac, securing $150 million in funds. Amelio failed to negotiate this arrangement. Second, Steve valued the work beyond financials. Fred Anderson, Apple's CFO, saw Steve as understanding Apple's essence and wrote on September 16, 1997, about being captivated by Steve's charisma and unusual boldness. Steve became "interim" CEO, a title he held for three years until 2000. From 1997 to his death in 2011, Steve became an icon, transforming Apple and the business world. This was through the creation of Apple Retail, the iPod, the iPhone, and the iPad. Jobs aimed to whip the company into shape, intending not only to succeed financially but also to equate himself with Bill Gates in future achievements.

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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Question

What are the leadership qualities of Steve Jobs and bring out how his leadership embodies the nature and elements of leadership.

**Steve Jobs: Triumph at Apple**

Steve Jobs was the only person who could have saved Apple in 1997, and Apple needed saving. The company was mismanaged and failing. Apple's products had deteriorated, and its finances would have collapsed if not for CFO Fred Anderson's work. Apple needed a new operating system to remain relevant during the rise of Windows 95. Apple's CEO, Amelio, engineered the purchase of NeXT in December 1996 for $429 million in cash and stock, highlighting Apple's dire situation. Michael Dell even suggested Apple be liquidated. Did Steve really want to fix the company?

There are two reasons only Steve Jobs could have saved Apple in 1997. First, Jobs convinced Bill Gates to support Apple by committing to writing software, specifically Office for the Mac, securing $150 million in funds. Amelio failed to negotiate this arrangement. Second, Steve valued the work beyond financials. Fred Anderson, Apple's CFO, saw Steve as understanding Apple's essence and wrote on September 16, 1997, about being captivated by Steve's charisma and unusual boldness.

Steve became "interim" CEO, a title he held for three years until 2000. From 1997 to his death in 2011, Steve became an icon, transforming Apple and the business world. This was through the creation of Apple Retail, the iPod, the iPhone, and the iPad. Jobs aimed to whip the company into shape, intending not only to succeed financially but also to equate himself with Bill Gates in future achievements.

Expert Solution

Step 1

While leadership performs a number of essential tasks for an organization's success, its primary value is in giving the business direction. In order to effectively manage an organization's resources and achieve its goals, leadership is a crucial management role. Influential leaders are experts at inspiring and directing their team members to achieve and have positive social effects. No matter what position you hold, knowing about the value of leadership can help you make a meaningful contribution to the objectives of your organization.