By contrast, when managers interpret environmental events as opportunities, they consider strategic alternatives for taking advantage of those events to improve company performance. To take advantage of the rapid growth of the smartphone maket, Apple developed the iPhone. CEO Steve Jobs announced the release more than 6 months in advance to generate hype , stimulate demand, and dampen sales of competitors. Apple sold 21 million iPhones in its first 18 months on the market, far exceeding its goal of 10 million