The six values of Apple

From Apple’s Notice of 2019 Annual Meeting of Shareholders and Proxy Statement:

Accessibility: Apple believes accessibility is a fundamental human right and technology should be accessible to everyone. Our products are powerful and affordable assistive devices, with built-in accessibility features such as VoiceOver, Switch Control, and support for Made for iPhone hearing aids. In 2018, we expanded our Everyone Can Code initiative with resources specifically tailored to support students who are blind, deaf, or have physical motor limitations.

Environment: Apple drives environmental responsibility in product design and manufacturing. In 2018, we reached our goal of powering all of Apple’s global facilities with 100% renewable energy. We’re committed to one day making our products from only recycled or renewable materials. In a major step toward that goal, in October 2018 we introduced Apple’s first product made with a 100% recycled aluminum enclosure.

Privacy and Security: Apple believes privacy is a fundamental human right. Every Apple product is designed from the ground up to protect your privacy and security. Great experiences do not have to come at the expense of your privacy and security. Instead, they can support them. In November 2018 we launched our Privacy Portal worldwide so that all our users can manage their data.

Education: For more than 40 years, Apple has worked alongside educators to unleash the creative potential in every student. We launched Everyone Can Create to help bring creative expression into the classroom. And Apple Teacher, our free online professional learning program, helps teachers get the most out of Apple technology. We continue to work closely with schools to raise the bar for what’s possible for learning with technology and to prepare students for a rapidly changing world.

Inclusion and Diversity: The strength of our innovation depends on a diverse workforce that is a reflection of the world around us. We’re deeply committed to hiring and promoting more inclusively, fostering a culture that allows people to do their life’s best work, compensating equally, and working to create more access and opportunities. As we continue to grow, we’re striving to better represent the communities we’re a part of and to help break down historical barriers in the tech industry.

Supplier Responsibility: Apple educates and empowers the people in our supply chain and helps preserve our environment’s most precious resources. We set an ambitious goal of providing health education to over one million supply chain employees by 2020. Through our partnerships with suppliers, all final assembly facilities for iPhone are now zero waste certified worldwide.

My take: Only Apple could put these in a proxy statement with a straight face.

What else caught my eye:

  • The 2019 shareholders meeting is scheduled for March 1, 9 a.m. Pacific at the Steve Jobs Theater, open only to shareholders who register in advance.
  • Between them Vanguard and BlackRock hold more than 668 million beneficially owned shares, 14.13% of outstanding shares.
  • Tim Cook’s total annual compensation in 2018 was $15.7 million, 283 times the median Apple salary of $55,426.

4 Comments

  1. Robert Paul Leitao said:

    This is why Apple is among the most admired companies on the planet with one of the strongest brand names as well. What other global enterprise can claim high profitability and verifiable social, supplier and environmental responsibility? Add in stating privacy is a fundamental human right and Apple does stand alone.

    Tim Cook’s total compensation was 0.006% of FY2018’s reported revenue of $265.595 billion and 0.026% of the company’s FY2018 net income of $59.531 billion. I’m sure Mr. Cook’s compensation isn’t high on the list of the compensation of Fortune 100 CEOs when using these performance metrics.

    1
    January 9, 2019
  2. Gregg Thurman said:

    I love Tim’s observation that the market is emotional in the short term. That observation explains market irrationality on transient events perfectly.

    My biggest trade losses since 2004 have been in response to “irrational” reactions to those transient events. It’s difficult to keep you head when all those around you are losing theirs.

    0
    January 9, 2019
  3. Fred Stein said:

    No problem with ‘straight face’. Agree with Joseph and Robert.

    This is NOT posturing. Just the opposite. It sends a message to all employees, (I hope) that they can speak out if someone violates the values.

    As for accessibility, I’m 72. Press the on/off switch 3X and it launches my Blue Tooth hearing aid App which lets me set directional focus and adjust the programs for music or restaurants, etc. AND.. the same action (click your heels 3X) and it launches a magnifying glass with light App. Thank you Wizard of iOZ.

    Privacy and Security: This goes way beyond brand, or even fundamental human rights. With billions, and soon 10’s of billions, of devices connected to the Internet, any vendor that doesn’t make this a core value, may open an attack point. This relates to infrastructure, cars, medical devices, consumer electronics, and more. There’s no room for trap doors, partial efforts.

    0
    January 9, 2019

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