Steve Jobs was a big advocate of diversity in everything. Perhaps, this is why he picked Tim Cook to be his successor. He couldn’t have picked anyone more different than him. While Steve Jobs was more autocratic, Tim Cook’s leadership style has been seen as more democratic. More importantly, after taking charge as Apple’s CEO in 2011, Cook has increased the company market value from $348 billion to over $2 trillion, and solidified its position as a priceless brand.
On leadership, Tim Cook has admitted in the past that his leadership style is focused on people, strategy, and execution. Though it’s easy to make a study of Steve Jobs vs Tim Cook leadership style, the one common thing that unites them is their unwavering commitment towards Apple – above their own ideas. It has not all been smooth sailing, and the Apple CEO was closely watched, especially in the first five years.
Tim Cook’s Leadership Style
Let us take a look at leadership Lessons from Tim Cook.
Greg Joswiak, senior vice president of worldwide marketing at Apple, told Cook biographer Leander Kahney, “He’s just very calm, steady, but will slice you up with questions. You better know your stuff.”
Handling a Crisis
The world watched eagerly as Tim Cook took over from the genius co-founder of Apple. A major part of leadership is solving problems. And Tim Cook’s management style was on display as Apple faced a chip shortage, like many other tech companies.
The global chip crisis and Covid-19 pandemic resulted in trying times for the company. But that did not stop Apple from continuing to manufacture superior quality products. Also, Cook chose to inform stakeholders about the impact of the crisis and be upfront right from the beginning on how it will affect the company. He has also held firm on guarding the privacy of Apple users and publicly denounced a court order to grant FBI indoor access. Tim Cook reiterated that there is no backdoor to encryption.
Mental Health And Employee Well Being
A good leader cares about his people. Tim Cook’s leadership style is not just focused on building Apple’s fortunes but also in providing tech that can help people live their best lives. In a 2021 interview he acknowledged the mental health crisis and the role of technology.
Cook acknowledges that mental health has faced much stigma and that it is time people cared about their well-being.
Cook has lent its support to Shine, a subscription-based daily mental health support app, which was featured in the Best of the App Store Awards last year. In a 2021 interview with Bustle, the CEO revealed that he discusses mental health with his team and how technology must be used to serve humanity. On World Mental Health Day, he tweeted about “the importance of prioritizing our emotional well-being and finding meaningful ways to unwind and refuel.”
Dividends and Buybacks
Apple has certainly thrived under Tim Cook’s management style. According to insiders, he focuses on a more inclusive decision-making process and inspires team members to put their best.
Within a year of taking charge, Cook announced that Apple will pay $35 billion in dividends to shareholders. A key difference in Steve Jobs vs Tim Cook leadership style is in what they chose to do with profits. For Jobs it was much more important to reinvest the profits into the company, to develop cutting-edge products. Cook, on the other hand, chose to share some of the profits with people who have always believed in the company — as dividends also attract more investors and encourage big players to buy and hold stock.
While Jobs’ saved Apple from near bankruptcy in the mid-late 90s, Cook recognizes the shift in investor interest. Cook has also continued to buy back Apple shares even when prices were high, to Warren Buffet’s consternation. Since 2012, Apple has repurchased millions of its own shares, believing that the stock is undervalued.
It is worth noting that under Cook, Apple was the first company to touch a valuation of $3 trillion in 2022. However, despite his stellar performance, early this year, shareholders were urged to veto Tim Cook’s proposed $99 million pay package.
One of the best qualities of a good leader is in building relationships with those around you and trusting them to do their job. Tim Cook’s leadership style is focused on empowering those around him to take charge and implement their own strategies and solutions.
