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Is Apple all about Steve Jobs ?

|Includes: Apple Inc. (AAPL), WMT

Ever since the news of Steve Jobs resigning as CEO hit the streets, the stock was down around 6% in after-hours trading. So is Apple defined only by Steve Jobs?

Agreed he was the one that brought back Apple from an also-ran status to a market leader. But more than that, it was the desire to innovate that has made Apple the company it is today. It is the culture of innovation that Steve Jobs brought to Apple which makes the company what it is today. So should his stepping down from the helm have such an impact on the company, I think not. His decision to step down was not taken overnight, it had been going on for sometime ever since his health started to wear down on him. A definite roadmap was prepared on how the company would function in his absence, and he had been absent on a regular basis for some time now.

A corporation is defined as a legal entity and is not dependent on one person. Sure, there is always that one person which guides the basic principles, but more than that it is the culture embedded in the corporation which ultimately decides success or failure. If this were not the case, Walmart would have long perished with Sam Walton, after all he was the one who pioneered discount retailing. Would Facebook cease to exist the way it is if Marck Zuckerberg were to step down, no. In conclusion, it is the idea, the principles and the culture that keep a corporation running, yes there is always a leader to show the way, but in the end it's combined effort of a number of faceless people that really makes the difference.