When Steve Jobs left, was it incompetence that killed Apple or a lack of vision, direction and innovation? The answer to that question is important because, while Tim Cook has demonstrated the ability to crank out thinner, lighter devices with sharper screens and better battery life, but there's no indication that he shares Steve Job's ability to drive Apple to launch revolutionary new products every few years (iPod. iTunes. iPhone. App Store. iPad.)
I don't think in the current Apple that Tim Cook is the one that is expected to have the vision for the company going forward. I think this responsibility is partly in the hands of Jon Ive and probably some other higher-ups as well. It's also interesting that Apple will allow employees some time to work on their own projects, perhaps Apple is expecting the employees to develop great new ideas that can be turned into products.
I think Apple’s innovation (i.e. new products) made them grow so massively, but I do also believe that Apple’s other core values under Steve Jobs – values Tim Cook will, I’m confident, be able to uphold – will at least keep them big and successful (if not growing).
Tireless iteration and polishing and a lean product line is also what Steve Jobs’ Apple was about, and that is something Tim Cook can preserve.
Lack of vision, direction, and innovation doesn't bring you to the brink of bankruptcy. There are plenty of boring, staid, profitable companies out there. To fail so badly at that size requires mismanagement.
