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Importance is given to teamwork and mutual respect (Nokia-b, 2010). In the beginning of 2008 the company announced a new “company structure”. It aims at aligning the opportunities in the company with future growth prospects. Nokia also plans to increase the efficiency of the working ways across the company.
According to the Articles of the company and Finnish Companies Act the management and control of the company is divided between the company shareholders, the Board of Directors,, President and Group Executive Board headed by the CEO. The Board gives decisions relating to the activities of the Group including crucial investment decisions, approval of plans and divestments. The Group Executive Board of the company is in charge of managing company operations (Nokia-c, 2010).
The competitors of the company are LM Ericsson Telephone Company, Motorola Inc. and Samsung Electronics Co., Ltd. Nokia has the highest market capitalization out of all the above mentioned competitors. In terms of sales the company ranks first among its competitors.
Nokia has operations across China, Finland, India and Germany. In these countries the company offers Networks Technology. Nokia offers “mobile devices and technology” services in China, Brazil, Great Britain, Finland, India, Hungary, Mexico, South Korea and Romania (Nokia-d, 2010).
The devices unit of the company is in charge of managing and developing its mobile services portfolio. Nokia Siemens Network offers fixed network infrastructure, wireless, networks and communications service platforms and professional services to service providers and operators. NAVTEQ is a major provider of “digital map data” for mobile navigation devices, internet based applications and business & government solutions. The map data of NAVTEQ is a significant part of the map services of Nokia which provide downloadable maps and voice-based navigation (Nokia-f, 2009).
The vision of the company is based on the
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This paper presents brief report on the management strategy of Nokia Company and gives detailed analysis of both the internal as well as external environments. In order to to identify the opportunities along with the threats prevailing in the environment, various business analysis tools such as SWOT, PESTEL, Porter’s Five Force analysis etc will be included in the paper.
Economic crunch has affected the growth of new subscribers while the increasing demand of handsets with distinct features and brands has become a commodity item for every person. Heavy investments are also needed to be made in order to upgrade to the level of 3G technologies. In the midst of this havoc, it would be interesting to see how Nokia manages to retain its customers and maintains its brand loyalty.
Recently it was noted that the company earned a sales figure of around 15.8 million in the year 2012 from its business in the European markets including the Caucasian and the CIS regions (Nokia, 2012). The brand strategy and the aim of the company are also noted to be frequently altered with the change in the technology.
The company has an established brand name due its quality products and services. Nokia has partnered with different companies to advance its products to gain an advantage over its competitors. For instance, it partnered with Google map and navigation companies to incorporate navigation applications in its recent Smartphones and tablets (Goyal 7).
For the last few years Nokia have been continuously loosing its market share in different smart phone markets of the world. Nokia is facing a recession phase in some markets as well. By analyzing this situation it has been observed that Nokia is not producing smart phones as good as Samsung and Apple.
Please do like this: (Any such layout was not stated) 17 Existing Strategies: 18 Generation of strategic Options 20 Choice of Strategies 27 Implementation (Any specific implementation purpose was not mentioned) 27 McKinsey’s 7S Model 29 Eventually, limit the word count to 3500 words (excluding the words in table) 30 All the above requirements are in the original instruction.References 31 Appendix 33 Executive Summary The report deals with the strategic analysis and strategic development of Nokia Corporation.
Rebuilding Brand Equity of Nokia. Nokia, the consumer electronics company which once commanded the mobile communications race, has suffered a remarkable multi-faceted decline in the past two to three years. This decline has resulted in the company having to sell its mobile handset business along with the related patent licenses to the IT giant Microsoft for $7.17 billion (“Microsoft to acquire Nokia's Devices & Services business, license Nokia's patents and mapping services”, 2013, p.
If companies cannot gain a competitive advantage over their competitors, those companies will be most likely to lose their market share and may be weed out of the industry. In the other word, competitive
patent licenses to the IT giant Microsoft for $7.17 billion (“Microsoft to acquire Nokias Devices & Services business, license Nokias patents and mapping services”, 2013, p. 1).
Nokia has been in the mobile market for around thirty years (Kolk & Rungi, 2013, p. 5). Nokia, a