The internet is
inundated with all types of stories following the death of Steve Jobs. On
Facebook, some people have posted comments like: "One Dies many cry, many
die no one cries"! Whereas, this statement is true (the picture following
the caption was of black gaunt kids crowded around a sparse land with flies
hovering around them), the world will still mourn and miss Steve Jobs.
Heads of States have sent out condolences, likewise millions of people around
the world. So much was said of this man but some people have started to question
his ability. Whereas, I was tempted not to say anything following such
comments, I feel silence will only spread the queries raised so far.
How would you
evaluate the performance of a leader? Shareholders will look at share price
during such a persons' tenure, investors will look at variability of the
markets such a company is involved in and how it products fairs plus the return
on investment over a period of time. If we agree to these statements then we
can continue this discus, using these yardsticks as a grading tool. Simply put,
Steve Jobs' performance was confounding! Holding the position of CEO for 14
years, he was interim CEO from September 16, 1997 to January 5, 2000, in a
country where the average tenure has been noted to be 6 years is one feat. You
have to be able to hold your own to remain that long in the seat! The most
interesting part is for investors, Apple in these 14 years had a compounded
annual rate of 35%! If I had 100,000 US$ back then, and I made a wise choice to
invest in Apple, my net work would have been 6.86 Million US$ today! Amazingly,
no company would give such a phenomenal return! I checked, none truly exist! If
we extend his score card to 2011 when he stepped down, investors will have the
pleasure of the following:
1. Country-adjusted total
shareholder return: 6,682%
2. Industry-adjusted total
shareholder return: 6,621%
3. Market Capitalization increase
during tenure:*** $341.5 billion
The question now
is: Are we all just interested in financial gains or the innovations that brings
opportunities to consumers? Apple has been in the forefront of product
development, looking back at the passion Apple put into its product, one can
say it made other companies think hard and long before coming up with a
design launch.
Today, consumers
can have better products at their disposal. Will this change? Who knows? Will
the market be flooded now with mediocre products? Only time will
tell! But one thing is for sure, the world has lost another beautiful
mind.
Rest in Peace
Steve Jobs.
Nice post sir!
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