Nobody downloaded yet

Strategies of Nokia and Nestle and their competitive advantage in the industry - Essay Example

Comments (1) Cite this document
In the fast changing dynamics of socio economic and technology driven environment, businesses need to evolve creative strategies to meet the demands of the time. Bateman and Zeithaml (1990) assert that environmental changes necessitate organizations to evolve and adapt the changes within their business strategies…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER95.8% of users find it useful
Strategies of Nokia and Nestle and their competitive advantage in the industry
Read TextPreview

Extract of sample "Strategies of Nokia and Nestle and their competitive advantage in the industry"

Download file to see previous pages It is vital part of organizational success as it not only helps them to survive but also facilitates in maintaining competitive edge against their rivals in the industry. Business strategies are actions plans developed to achieve the vision, mission and objectives of the organizations over a long period of time. Porter (1996) says that competitive strategy is doing business differently to give value to the customers and maintain leverage. The strategic plans therefore, are vital ingredients that allow firms to be flexible and innovative so that they can absorb environmental changes and evolve to maintain one’s market position. The report is primarily an effort to analyze the business strategies of Nokia and Nestle which have made tremendous changes within their strategies to create niche market position in the domestic and global market.
Outline of strategic issues of Nokia
Nokia is a Finnish conglomerate that has incredible growth story. It has emerged as a flagship company mainly because it was able to anticipate and preempt environmental changes to evolve new strategies. The foresightedness of its managerial leadership was able to steer it to its present success. There were three major strategic issues with Nokia which needed to be creatively designed and developed to facilitate leadership position in the global market. The first one was to redefine its strategies towards its low performing business activities which did not offer long term sustainability of good profits or prospects. The second was to identify the business which had wide scope prospects vis-a-vis business opportunities across the globe. Third and the last one was to ensure that the products should be able to meet the changing demands of the global customers and should have futuristic scope to attract them. These were critical issues which needed to be addressed urgently by the company so that its vision of becoming a successful global entity could be expedited and realized. 3.1.1 Situation analysis of Nokia Finland was a rich but small nation that was bogged down with geographical hardships that made it difficult to adopt traditional technology to improve its communication and other related development processes. It initially had diverse interests comprising of tire manufacturing, paper production, consumer electronics and telecommunication equipment. The disinvestment of many of its business activities helped it to focus on telecommunication. It was one of the companies that had pioneered wireless technology to overcome geographical constraints of near arctic conditions which made cable based telecommunication a difficult and expensive venture. Indeed, strategic planning is at the heart of business strategy. Bateman and Snell (2009:132) emphasize that planning is ‘the conscious, systematic process of making decisions about goals and activities that an individual, group, work unit or organization will pursue in future’. Nokia had demonstrated its leadership initiative by disinvesting its low prospect business activities and correctly identifying potential in the telecommunication where wireless technology had offered huge scope for business expansion. It was focused on organization’s long term goals and objectives for its success and growth. It explicitly emphasized the unique activities and approaches of Nokia leadership for delivering its strategic goals and objectives. Kotler & Keller (2007) have stressed the need to be innovative and service oriented. Nokia was able to align its strategic action ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Strategies of Nokia and Nestle and their competitive advantage in the Essay”, n.d.)
Retrieved de
(Strategies of Nokia and Nestle and Their Competitive Advantage in the Essay)
“Strategies of Nokia and Nestle and Their Competitive Advantage in the Essay”, n.d.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
felicita06 added comment 1 year ago
Student rated this paper as
Great paper! Used it to complete an assignment for a management course. It was easy as ABC, for the first time in my life.

CHECK THESE SAMPLES OF Strategies of Nokia and Nestle and their competitive advantage in the industry

Competitive Advantage a certain marketplace and these could be required resources to attain minimum requirement of customer. For instance, high demands by contemporary suppliers’ retailers imply that such suppliers must have advanced information technology skills to be able to meet requirements of retailers (Versaevel, 2007). For an organisation to attain and sustain competitive advantage, ethics and social responsibility have a role to play. Social responsibility is the way organisations combine social, economic, and environmental issues into the organisational culture, beliefs, decisions, functions and strategy in an effective and transparent way to create efficient practices in the company, generate...
5 Pages(1250 words)Research Paper

Competitive Advantage

...Competitive Advantage Competitive advantage is that which an organization occupies in its own competitive arena. According to Collis and Hussey (2003), competitive advantage is realized when firm earnings are more than the expenses, at this point the firm is said to be achieving some economic rent. It is the economic rent that makes most competitors imitates other companies competitive advantage thus it becomes impossible for any given company to sustain its competitive advantages a longer duration of time. However, a company can have some positions, strategies and processes that are hard to be copied by other companies. In such a scenario the firm will be able to sustain its competitive advantage. This becomes a great advantage... to the...
8 Pages(2000 words)Case Study

Developing strategies to achieve competitive advantage: case study Nokia (U.K.) gain an edge. A comparative analysis was also possible through this research which gave a better perspective of the industrial standings of Nokia. Jegede (1999) adds that with this research it was possible to see the current and upcoming problems that Nokia was facing so that improvements may be made and the firm may survive over its competitors and gain an edge over them. This research is particularly important at this time because the prospects for the global economy remain unclear and a firm cannot afford to live with weaknesses. 1.3 Objectives of the research This dissertation is aimed to develop strategies to achieve competitive...
72 Pages(18000 words)Essay

Growth Strategies to Achieve Competitive Advantage

...Growth strategies to achieve competitive advantage: A Case study of XYZ Power Utility pursuing growth objectives Table of Contents Abstract 2 Introduction 2 Literature Review 3 Proposed Methods 5 Reflections 7 Conclusion 8 References 9 Bibliography 10 11 Abstract Adopting growth strategies is one of the biggest challenges for any business organization irrespective of its nature. This paper is all about possible growth strategies for the XYZ power utility company which owned by the government company based in a developing state of southern Africa. There are various strategic models like McKinsey model, Ansoff model that could be followed by the company...
7 Pages(1750 words)Essay

Competitive advantage

...the cost of integration, efficiency in operations and competitive advantage the firm will gain. References Antonelli C 2009, The evolution of the industrial organisation of the production of knowledge, Cambridge Journal of Economics, vol 23 2, pp. 243-260. Barreyre, PY 2006, The concept of ‘impartition’ policies: A different approach to vertical integration strategies, Strategic Management Journal, vol 9 5, pp. 507–520. Campbell, DJ and Craig, T 2005, Organisations and the business environment, Butterworth-Heinemann. Cook, M and Farquharson, C 1998, Business economics: Strategy and applications, Pitman. Dekkers, R 2005, Evolution: Organizations and...
6 Pages(3000 words)Essay

Competitive Advantage

...– Major strength Tim’s Coffee Shoppe operates in a highly competitive environment, where every operator formulates and implements operational strategies to outperform competitors. Coffee operators, Tim’s Coffee Shoppe included, enjoy diversified markets but they have to monitor and respond to trends in the industry in order to remain competitive and in business (Pride & Ferrell, 2012). Competitor encounters are normal, and Tim’s Coffee Shoppe knows this better. This coffee shop competes with numerous others, but the common denominator is that there is a market share to capture. While there exists competitors that constitute operational threats for Tim’s Coffee Shoppe,...
4 Pages(1000 words)Research Paper

Competitive Advantage

...Competitive advantage It is the desire of every company or organization to the on top of its game in all areas. This is better termed as competitive advantage and its entails a company having pool of dynamic skills, strengths and abilities that will propel it far above its competitors. In addition to being the very best in the industry, some companies find it more appropriate to differentiate their products and services from those of other companies (Pearce & Robinson, 2012). In an effort to create an edge in competitive advantage, it is advisable to factor in all areas such as cost, differentiation and speed (Pearce &...
1 Pages(250 words)Assignment

Competitive Advantage

...Barnes & Noble is the industry leader in the book industry. The company generated $7.13 billion in sales in (Barnesandnobleinc, . The organization holds various competitive advantages over a small bookstore. As a public company whose stocks are traded in the New York Stock Exchange Barnes & Noble has greater access to capital than small bookstores. The firm has the ability to raise capital through the sale of stocks and bonds. The company also has a superior marketing and advertising budget which has enabled Barnes & Noble the ability to build brand value. Barnes & Noble has the greatest product variety in the industry in both books and e-books. Due to the size of the company the firm is in a better position to offer lower prices... & Noble...
1 Pages(250 words)Assignment

Competitive advantage

...COMPARATIVE ADVANTAGE THROUGH E-COMMERCE LOGISTICS al Affiliation) Key words: Comparative Advantage Study All statistical surveying reports demonstrate a consistent, critical increment of online deals at the cost of conventional disconnected from the net retail. Satisfaction of online requests, in any case, is testing. With a CATELOG concentration in logistics, open doors that can help increment online deals in a productive way will be mandatory. Three angles are fundamental to the task: Cross-fringe retail logistics (Abnamro 2011). While online channels have no fringes and take into consideration snappy global extension, shopper inclination for sorts of e-satisfaction is prone to contrast crosswise...
3 Pages(750 words)Research Proposal

Competitive Advantage Strategies

...Competitive Advantage Strategies Competitive Advantage Strategies Comments Gaining and maintaining leverage competition over other rivals can at times be a thorn in the flesh. It requires a well choreographed orchestrated strategy. These strategies seek to answer questions why customers should prefer a product or service from one firm to that of a rival or a competitor offering similar products or services. In the society today, business arena has become so dynamic. The climate of trends and advancement of technology have also played vital role in transforming business ecological niche. ...
1 Pages(250 words)Essay
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Strategies of Nokia and Nestle and their competitive advantage in the industry for FREE!

Contact Us