Part I "Make sure your answers are precise and clear and show high reflection. Read the below paragraphs from a Forbes article then answer the questions that follows: August 2018, the iPhone maker became the first company to cross $1 trillion. It hit that was $1 billion in the red to one of the most valuable companies in the world. In When Steve Jobs returned to Apple in 1997, he started to turn Apple from a comp the $2 trillion mark on August 20, 2020. Apple became a $3 trillion company briefly By focusing on creating breakthrough products like the iPod, iPhone, iPad, and Apple Watch, along with a rich set of services that have recurring revenues, Apple's growth, January 3, 2022, and today its valuation is about $2.6 trillion. especially since Steve Jobs's death in 2011, has been no less than spectacular. software, he should be recognized for his choices in hiring world-class leaders to execute While Steve Jobs will always be known as the visionary behind all of their products and his vision. And his best hire has been Tim Cook, the current CEO of Apple today. His decision to have Tim work on their supply chain and operations when he returned to Apple goes down as a visionary move by Jobs. He had a clear vision for product designs by 1998 but needed a top-notch person to salvage a broken supply chain crippled by the last two CEOs at Apple from 1992-1997. Questions 1. What type of business level strategy does Apple adopt? Why? (10 Marks) 2. What is the source of competitive advantage for Apple. Explain and give examples. Reflect on VRIO model. (5 Marks)