future proofing through strategy nokia marketing essay
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Future Proofing Through Strategy Nokia Marketing EssayFor assignment help please contact
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It is of extreme important for any organisation especially those such as
Nokia who operate on a global basis to have established practices in
place to deal effectively with the wide array of factors affecting the
ability of the business to grow and prosper.
The formality of the strategic management process can vary widely with
formality referring to the degree to which membership, responsibilities,
authority and discretion in the decision making process is specified.
Formality is an important consideration in any strategic analysis and its
application because the degree of formality is usually positively
correlated with the cost, comprehensiveness, accuracy and success of
planning.
An important issue is that involvement with the strategy process should
not necessarily create significant amounts of paperwork (Camerer,
1994)) as this would be viewed negatively which would be a contradiction
in terms of the reasoning and operandi in identification of the reasons for
the process to be undertaken in the first place.
The strategic management process is based on the belief that businesses
should continually monitor internal and external events so timely
changes can be made to ensure that the business is not affected in a
negative manner. To thrive and gain a larger market share, companies
must be able to identify and adapt to change. This involves timely
planning, directing, organising and controlling both the strategy-related
decisions and actions made by the company (Camerer, 1994).
Quite often, strategy processes are improperly perceived as a
unidirectional flow of objectives, strategies and decision parameters from
management to the employees. In fact, the processes should be highly
interactive and be bi-directional since they are designed to stimulate
input from creative, skilled and knowledgeable people working at every
level of the business.
1.1 Company Introduction
Nokia is a global communications provider who has a Multi-Country
Strategy developed to sell its products in over 130 countries. Nokia
mobile phones can be sold under the Nokia brand name, but are in
addition co-branded with an operator's brand (companies such as
Vodafone). In an attempt to cater for all requirements for perceived and
differing requirements across their global market in every country they
are present, the company encourages each country unit to develop its
own promotional campaigns.
Nokia considers its mobile phone manufacturing to be a core competency
and that it provides them with a competitive advantage. They currently
operate more than 10 manufacturing facilities in 9 different nations. The
US plant primarily supplies the American markets, as do its
manufacturing plants in Mexico and Brazil. Three major European plants,
located in Finland, Germany and Hungary, principally supply the
European market and non-European countries that have adopted the
GSM standard. In addition, the United Kingdom plant serves Nokia's UK
subsidiary, Vertu. It also has plants in China and South Korea that were
introduced primarily to supply the Far Eastern market.
2.0 Analysis Tools
There are several widely used strategic tools available to identify
business opportunities available to Nokia and the following sections of
this paper critically examine each of the main frameworks, they being;
Porters 5 Forces, SWOT, PEST and EVR.
2.1 Porters 5 Forces
Porter's five forces are a structured expansion of the SWOT analysis and
by using them and breaking down the SWOT categories into smaller
information sectors, a business can gain a strategic advantage over their
organisations direction and competitive positioning in the market place.
As Porter's 5 Forces analysis deals with factors outside an industry that
influence the nature of competition within it, the forces inside the
industry (often referred to as the micro-environment) that influence the
way in which firms compete, and so the industry's likely profitability is
conducted in Porter's five forces model. A business has to understand the
dynamics of its industry and markets in order to compete effectively in
the marketplace. Porter (1980) defined the forces which drive
competition, contending that the competitive environment is created by
the interaction of five different forces acting on a business. In addition to
rivalry among existing companies and the threat of new entrants into the
market, there are also the forces of supplier power, the power of the
buyers, and the threat of substitute products or services to contend with.
Porter suggested that the intensity of competition is determined by the
relative strengths of these forces.
The original competitive forces model, as proposed by Porter, identified
five forces which would impact on an organisation's behaviour in a
competitive market. These include the following:
The rivalry between existing sellers in the market
The power exerted by the customers in the market
The impact of the suppliers on the sellers
The potential threat of new sellers entering the market
The threat of substitute products becoming available in the market.
Understanding the nature of each of these forces gives organisations the
necessary insights to enable them to formulate the appropriate strategies
to be successful in their respective market.
This model offers a very simple method of assessing how market
structure can impact on the profitability of a particular business. A
company's competitive strategy consists of business approaches and
initiatives it undertakes to attract customers and fulfil their expectations,
to withstand competitive pressures, and to strengthen its market
position. "Competitive strategy is about being different. It means
deliberately choosing to perform activities differently or to perform
different activities than rivals to deliver a unique mix of value." - Michael
E. Porter
Porter states that using this analysis method it is possible to confirm if
the company is being effective in capturing value created for buyers or if
this value is in fact being driven away by competition from suppliers,
rivals, new market entrants etc (Porter in De Wit Meyer, 2004)
2.2 SWOT
This analysis measures how strengths and weaknesses match the
business opportunity or threats that may exist to the environment.
Environmental opportunities are only potential opportunities unless the
organisation can utilise resources to take advantage of them and until
the strategic leader decides that it is appropriate to pursue the
opportunity. It is therefore important to evaluate environment
opportunities in relation to the strengths and weaknesses of the
organisation's resources and in relation to the organisational culture.
Real opportunities exist when there is a close fit between environment,
values and resources. An evaluation of an organisation's strengths and
weaknesses in relation to environmental opportunities and threats is
generally referred to as a SWOT analysis.
Whilst this process has its doubters, there is still a continuing interest in
this form of analysis of the forces that impact on an organisation,
particularly those that can be harnessed to provide competitive
advantage. The ideas and models which emerged during the period from
1979 to the mid-1980s (Porter, 1998) were based on the idea that
competitive advantage came from the ability to earn a return on
investment that was better than the average for the industry sector
(Thurlby, 1998).
2.3 PEST
This provides for a simple method of business analysis by looking at
possible future trends categorising them in to 4 distinct areas, they
being:
Political
Economic
Social
Technological
Any strategically aware business must be able to understand the
environment within which it is working and be able to change its
products and operating regimes to meet changing expectations.
This particular model has been criticised widely and many argue that the
appraisal of the external environment with such simple non empirical
methodology over simplifies the unpredictable nature of economic and
social trends (Mintzbery. Ahlstrand & Lampel 1998).
2.4 EVR
The EVR model was introduced in 1998 and published in 2000-2004 in
the International Journal of LCA and in the Journal of Cleaner Production
(it then being updated in 2007). The concept of EVR is based on eco-costs
(and there are numerous general databases containing published eco-
cost data).
The basic idea of the EVR model is to link the 'value chain' to the
ecological product chain. In the value chain, the added value (in terms of
money) and the added costs are determined for each step of the product
'from cradle to grave'. Similarly, the ecological impact of each step in the
product chain is expressed in terms of money, the so-called 'eco-costs'.
3.0 Nokia Strategic Analysis
3.1 Pest Analysis
Political
Economic
Social
Technological
License Costs
Economic growth
Income distribution
Research spending
Tax Policies
Interest rates and monetary policies
Demographics, population growth, rates, age distribution
Industry focus on technology expansion
International trade regulations and restrictions
Unemployment policy
Labour / Social Mobility
New inventions and development
Contract enforcement law
Taxation
Lifestyle Requirements
Rate of technology transfer
Employment laws
Work / career attitudes
Life cycle and rate of technological obsolescence
3.1.1 Political
As Nokia generate sales from countries from all over the globe they are
relatively safe from economic or political turmoil in any one nation (or
even continent). For example, working at their sites in Europe and
America carry a much lower economic/political uncertainty risk but on
the downside labour costs are considerably higher when compared to the
sites in Mexico, Brazil and China.
Constraints such as the G3 technology costs (110 billion Euros in Europe
alone) must be taken into account because all businesses aim to make a
profit so they may be tempted to mislead their customers about prices,
quality of products and the availability of their products in an attempt to
recover such unexpected costs. They may be tempted to cut costs by
using lower quality materials in their products (such as inferior materials
for phone cases and batteries), also some companies may also dispose
their waste in ways that damage the environment (pollution) and not
ensuring high standards of hygiene and safety in the workplace.
In addition Nokia must always be aware of changes in taxation policies
around the world especially in the current financial climate as
governments are looking to reduce the fiscal deficits by increasing taxes
on imports/exports.
3.1.2 Social
It is very difficult to arrive at an exact figure as some people own more
than one phone, but according to a survey undertaken by the Daily
Telegraph, in excess of 50 million mobile phones are registered in the
United Kingdom alone which makes the mobile phone handset the most
successful consumer product in history!
With Nokia having been at the forefront of this boom, it is important that
as a large and influential global organisation that they do not view profits
as being more valuable than their ethical branding as this will govern
behaviour and potential users perception of them. Many large
organisations (notably some of the large oil companies) have to date
fallen foul of this very simple measure.
Mobile phones, whilst serving a greater purpose, have also triggered a
rise in crime through theft and by providing greater communication
channels for the professional criminal. The situation has had such a large
impact on street crime (according to the Metropolitan Police it accounts
for 50% of all street crime in the UK) that a National Mobile Phone Crime
Unit was created to try and deal with the matter. However, just as every
cloud has a silver lining, the good news is that the service providers have
managed to implement methods preventing stolen phones from being
used once stolen which should over time assist in reducing this tendency.
2002, was the year that camera phones came on to the market place and
it was thought that it would take a considerable amount of time for them
to become popular! This was proven not to be the case as in 2009/2010
virtually every mobile phone sold by Nokia has both camera and video
game functionality with satellite navigation and video streaming also
becoming hugely popular as consumers look to consolidate their
requirements into a single piece of hardware.
Wifi and blue tooth wireless technologies are feeding the demand for
Nokia users to access and download information from the internet and
other mediums at high speed with "hotspots" being located now in
countries all over the world.
With Nokia's diversely geographic operating centres they are always
close to their client bases enabling them to quickly respond to changes in
requirements of the market and to respond to competitors.
For instance, to target high value customers, Nokia created Vertu,
specializing in handcrafted, high-performance mobile phones. The first
Vertu products were delivered in August 2002 and are now selling
through new distribution channels that consist of Vertu stores in Paris
and Singapore, client suites in London, New York, Beverly Hills,
Singapore and Hong Kong, and selected luxury department and specialty
stores internationally.
A possible disadvantage to Nokia's multi-country strategy is that it is not
capable of taking full advantage of the low cost manufacturing centres it
has in the Far East and South America but current perception is that the
ability to react to local trends more than out weighs this negative.
3.1.3 Technological
In the communications market in which Nokia operates, technology is
perhaps the most important factor that has to be taken into
consideration. It is of absolute core value and importance that Nokia
keep up to date with all the newest technological advances (like camera
and motion capture phones) if they are to maintain the largest market
share and stay ahead of their competitors.
The primary purpose of the Cellular telephone today is not simply to
communicate through the medium of speech. They are now considered as
complex units able to read, manipulate and communicate data in many
different forms (sound, video, image, data telemetry etc)
A very popular technology is Bluetooth which provides short-range
communications technology replacing cables connecting portable and/or
fixed devices while maintaining high levels of security. The key features
of Bluetooth technology are robustness, low power, and low cost. The
Bluetooth Specification defines a uniform structure for a wide range of
devices to connect and communicate with each other and has become a
primary requirement on most of Nokia's range of handheld units. The
structure and the global acceptance of Bluetooth technology means any
Bluetooth enabled device, almost everywhere in the world, can connect
to other Bluetooth enabled devices located in proximity to one another.
Speed of transfer of data has increased significantly in recent years with
latest technology Blue Tooth phones operating at speeds of up to 24Mbps
(as opposed to original data transfer systems used by Nokia in early 2002
of a mere 64kbps).
Nokia's current marketing strategy has until recent times helped them
become the biggest selling brand in the communications market, but now
sales are starting to decrease due to saturation of the current market
segment and so Nokia needs to rejuvenate its position. A number of
possible methods to achieve this include:
Re-launch their products with an aggressive promotional scheme to
target a different as yet un-tapped segment of the market.
Differentiate their products to offer something no other company is able
to offer
Diversify the business into selling additional and different technology
products.
Learn from the competition
3.1.4 Economic
The cost of operating new generation mobile phones is considerable and
varies widely from country to country. The table below indicates the
amount of money paid by each European country to operate a licence to
sell 3G mobile phones.
3G Government Licence Top Prices
UK:
                                   Â
                     £22.4bn
France:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
                    £6.32bn
US:
                                   Â
                    £11.24bn
Germany:
                                   Â
            £30.4bn
Italy:
                                   Â
                      £7.5bn
Netherlands:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
              £1.68bn
Poland:
                                   Â
                  £1.9bn
Sweden:
                                   Â
              £26,000
Switzerland:
                                   Â
            £80m
Belgium:
                                   Â
               £300m
Australia:
                                   Â
              £500m
Spain:Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â
                         £12m
The data contained within the above table was sourced from the BBC,
(http://news.bbc.co.uk/1/hi/business/1272501.stm).
The costs of licensing the new generation mobile phones that we use
today was much higher than Nokia (or their competitors) were expecting
as they had already developed the infra-structure costs required to
operate the new technology. There is nothing to say that in the future
and as new technologies are developed that additional licensing will not
be required!
3.2 S.W.O.T Analysis
As stated previously PEST considers the external environment as a whole
but SWOT analysis (strengths, weaknesses, opportunities, threats)
describes the internal influences on the direction of the
market. Therefore when findings are combined, the PEST and SWOT
models can provide a unique breadth and depth of analysis.
Strengths
Largest network of distribution and selling mobile technology in the
world
High quality and professional team in the R&D Dept.
Very profitable
Hardware is renowned worldwide for its reliability
Wide range of products
Resale values of Nokia phones is better than their competitors
Effective marketing
Weaknesses
Considered as not being user friendly
Hardware often not as stylish as competitors
Are viewed as being expensive when compared to competition
Not distinct in product definition from an aesthetics perspective
In recent years perceived as taking eye off the ball allowing in
competition
Design time to market
Opportunities
Development of new technology
Increased use/sales of mobile phones in developing nations
To broaden the age band of mobile phone users
To diversify its product range and enter new markets
Enhance relationships with service providers
Identify and develop services and hardware to distinguish it from its
competition
Threats
Worldwide financial crisis and poor availability of credit
Competitors developing more popular handsets
Stolen technology
Better technology
Wage escalation costs
Weakening demand in developed countries
Consumer requirements not being met
3.2.1 Strength
This involves looking at the company's current market share and
researching how recognised Nokia is amongst consumers in the target
market.
Volume and Market Share in the first quarter 2010, the total mobile
device volumes of Devices & Services was 107.8 million units,
representing an increase of 16% year-on-year and a decrease of 15%
sequentially. The overall industry mobile device volumes for the same
period was 323 million units based on Nokia's preliminary estimate,
representing an increase of 11% year-on-year and a decrease of 10%
sequentially. Nokia's preliminary estimated mobile device market share
was 33% in the first quarter 2010, up from an estimated 32% in the first
quarter 2009 and down from an estimated 35% in the fourth quarter
2009.
Financial and percentage data above was obtained from Nokia's website
http://www.nokia.com/about-nokia/financials/quarterly-and-annual-
information/q1-2010 Quarterly and annual information.
3.2.2 Weakness
This involves looking at where the product is failing or not doing as well
as it should in the market or against its competitors. Nokia's problems
are that they are currently aiming their products at a saturated market
segment and have continually rising wage costs. In a number of different
countries higher import charges have now also been put into place.
Motorola and Samsung have for the last few years been the thorn in the
side of Nokia's boardroom meetings. Their aggressive marketing
practices have hit Nokia very hard and it is losing very crucial global
market share to both organisations.
Â
Nokia being alarmed by its loss of market share and reduction in sales is
now putting all its weight behind the N-Series range with this model
being packed with multimedia features.
However, a failed and still failing strategy is that while Motorola (quite
intelligently) gives great names to every phone it brings into the market,
Nokia tends to do the exact opposite. Nokia from the very start has relied
on numbers rather than names and whilst this strategy worked very well
for them in the past (mainly due to the fact that they had little
competition in the early days of development), times have now changed.
Consumers are more attracted by names because they can thus easily
relate to the features of the phone. This is evident from the success of the
MotoRazr, MotoSlvr, MotoRizr and MotoKrzr. These phones are not
packed with heavy multimedia features like the N-Series yet still they are
in huge demand and just by reading the name of the handset, one gets a
broad idea of what the phone looks like and what its features are.
Â
Nokia advertises more than Motorola. Still its market share is dropping.
Motorola does not need to spend much money for the promotion of its
products and it doesn't have to worry about the marketing of these
phones; it just simplifies its job by naming its products right. Take the
example of Apple as it did not have to do much to promote its iPhone
thanks to the leaked photos and technical specifications. It then went on
to become one of the most anticipated gadgets of all time.
Â
It is time that Nokia starts applying some common sense approaches to
its marketing strategies as simple naming and branding would have a
dramatic impact on people's perceptions of its merchandise. A few
months ago, a highly placed Nokia official told Reuters that his company
would soon be doing business the Motorola way and would look at
renaming its new phones. It is in Nokia's best interest that it takes to this
path as early as possible, otherwise the once mighty market leader will
see its market share plummeting to much lower depths
In addition, and as with all mobile phone manufacturers, Nokia are
promoting their products to a market that is verging on saturation and
there is a potential need to re-launch some of the older models to the
emerging developing markets of the third world and only promote new
products to the existing market segment.
Finally, wage costs are already high, and will continue to rise for the
foreseeable future. In an attempt to alleviate this problem Nokia as a
technology company could look at new Research & Development
techniques to improve their existing productivity levels per capita of
workforce employed.
3.2.3 Opportunity
This is an area in which Nokia should look to increase their profit making
abilities and increase existing market share. There are a number of very
simple strategies:
Improve the technology and tooling currently in use.
Using their considerable in house innovation teams to re-invent their
products
To offer something new that none of their competitors are able to offer.
Use their reliability data to further enhance their networks with service
providers.
Realise the need for a back to basics handset for the developing nations
and introduce new (or revamped) handsets.
Re-look at the branding and naming of products.
Adopt a more Partnering Culture
3.2.4 Threats
This is looking mainly at the competition that are taking away Nokia's
current market share and also government legislations (the total costs of
3G licensing in Europe was 110 billion Euros) that could hinder Nokia's
further development.
Within the telecommunication industry, forecasts and market share
estimates of the handset industry are increasingly being affected by the
realisation of counterfeit and grey market devices. Such products find
their main consumer markets are in emerging economies such as India
and Africa, which are accounting for an increasing proportion of total
unit quantities.
Nokia has recently broken the conspiracy of silence within the industry
and has revised its own forecasts in an attempt to include for shipments
of fake and unlicensed handsets. Beginning in 2010, Nokia revised its
methology for estimating worldwide volumes and in particular will now
recognise handsets shipped by both new and emerging entrants who
include vendors of legitimate, as well as unlicensed and counterfeit,
products with manufacturing facilities primarily centered on certain
locations in Asia.
Obviously, this new outlook will have a dramatic affect to Nokia's key
metric of calculation of market share and how this is then perceived by
the outside world. Its share figures in the economies where counterfeit
handsets are more predominant will be impacted quite considerably.
The biggest source of the unofficial phones is China, and the country is
also the largest market for these devices, but it is also increasingly an
export industry, threatening Nokia's overwhelming share of low-end
products in other developing nations such as India. Grey market phones
that are made in China are not recognised or licensed by the government
and so do not pay value added taxes giving them an unfair advantage
over other legitimate suppliers.
Whilst all of this could be perceived as a weakness of the Nokia brand,
international authorities are now cracking down on illegal handsets
which will assist in strengthening Nokia's position. The Indian
government for example, has recently initiated a crackdown on illegal
handsets, ordering operators to disable devices that do not have an
internationally recognised or valid International Mobile Equipment
Identity (IMEI) numbers. This is likely to affect 25 million phones, about
5 per cent of the national total.
Via their business forecast projections/data within the public domain on
the internet, Nokia has reiterated that it expects the handset industry to
grow by 10 per cent in 2010 compared with 2009, and that it expects its
own market share to be flat in real terms compared with last year.
3.3 EVR
When analysing Nokia's values and beliefs it is important to consider in
broad terms what is actually defined by that value. This should be an
understanding which takes in to account both their ethical and economic
commitments. De Wit and Meyer, 2004 state that organisational beliefs,
values and business definition will be utilised and that organisational
beliefs are "important assumptions about he nature of the environment
and what the company needs to do in order to succeed …..
(and)….what they see as worthwhile activities".
3.3.1 Beliefs
The Nokia CEO recently stated:
"Our business objective is to strengthen our position as a leading
communications systems and products provider. Our strategic intent, as
the trusted brand, is to create personalised communication technology
that enables people to shape their own mobile world".
Sourced from www.nokia.com
Nokia are currently creating innovative technology to allow people to
access Internet applications, devices and services instantly, irrespective
of time or place. Achieving interoperability of network environments,
terminals and mobile services is a key part of their intent.
Driving and delivering innovation is absolutely key to the future success
of Nokia and as in the past creativity within the groups many different
operating centres throughout the world will play a key in this
undertaking.
3.3.2 Values
Nokia should look to capitalise on their market position and leadership
role by continuing to target and enter segments of the communications
market that will experience rapid growth or grow faster then the industry
as a whole.
By identifying and expanding into these segments during the initial
stages of their development, Nokia have established themselves as one of
the worlds leading player's in wireless communications and significantly
influenced the way in which voice and other services have been
transferred to a wireless, mobile environment.
As demand for wireless access to an increasing range of services
accelerates, Nokia are planning to lead the development and
commercialisation of the higher capacity networks and systems required
to make wireless content more accessible and rewarding to the end user.
A Nokia statement on their website www.nokia.com states "In the
process, we plan to offer our customers unprecedented choice, speed and
value".
3.3.3 Business Definition
Nokia has a history of contributing to the development of new
technologies, products and systems for mobile communications. Recent
examples include: the commitment to the open mobile alliance; the co-
development of the new operating system for the future terminals with
symbian; short-range wireless connectivity with Bluetooth; the
development of wireless LANs for enabling local mobility in fixed LANs;
and MMS for enabling mobile multimedia messaging.
Whilst the product type appears to be firmly fixed and is renowned for its
reliability, Nokia should look to broaden its thought processes to enhance
its consumer appeal factor.
4.0 Conclusion
Whilst nokia may have taken its eye off the ball for a couple of years it
continues to utilise its considerable resources to exploit opportunities in
the market and is now fully aware of the measures it needs to take to
mitigate against threats from competitors.
The SWOT/PEST analysis clearly demonstrated that there is room for
expansion of the existing business by being more open and reactive of
consumer reaction to competitor's products.
The core values of the business indicate that there is still a considerable
appetite for future development and for connecting people
A recent statement on their website www.nokia.com stated that their
vision for the future was:
"Connecting people" is now connecting people to what matters -
whatever that means for each person - giving them the power to make
the most of every moment, everywhere, any time. Connecting the "we" is
more powerful than just the individual."
5.0 Recommendations
The objective of this paper was to undertake an appraisal and strategic
review to evaluate the corporate global success of Nokia.
Nokia faces aggressive competition within its international markets and
has until very recently always managed to stay one step ahead by
responding quickly to the market's demand for advancement of
technologies.
They must continue to invest significant resources providing focus
groups, surveys, technology/industry analysis for specific countries to
ensure that they fully understand the differing requirements of the
different countries where they are involved
In their early years Nokia did not have significant competition and soon
became large enough to absorb their perceived weaknesses with strategy
and marketing techniques but now need to place considerably more focus
on image, branding and how there products are perceived by consumers
- reliability alone is not enough as consumers tend not to stay with any
one particular handset for any great length of time.
Strategy making is "a complex process involving the most sophisticated,
subtle, and at times subconscious of human cognitive and social
processes". Strategic planning is not strategy making, "Planning, rather
than providing new strategies, could not proceed without their prior
existence (Galbraith 1986). Nokia should understand and embrace this
statement as it has a direct correlation to the thought processes of its
consumers and ensure that they fully embrace knowledge gained through
keeping an eye on its competitors!
6.0 Reflection
I think that I have produced a well constructed and pragmatic paper,
addressing both the concepts and theories of strategy and analysis of my
chosen company Nokia. I was also very effective in merging the doctrines
of Strategy with real world implementation.
For the purposes of this particular assignment I gathered and collated
information from secondary sources ranging from books, newspaper
articles and company websites.
In the beginning I found the procedures and reasoning of strategy
formulation almost too vast for even contemplating writing such a small
assignment narrative but with hard work and focus, managed to explore
what I hope are considered to be the key areas of strategy management
and how they will impact or have impacted Nokia's business model.
I deliberately chose an established market leader in the mobile
telecommunications industry as it is often extremely difficult for such
large organisations that have created such a large market share to
sustain growth through strategic thought processes and analysis of their
business model.
I identified that in the early years Nokia gained a huge advantage due to
it having very few real competitors and that it is now clear that things
have changed dramatically. A number of competitors have been
extremely aggressive in reducing Nokia's market share and were aided
by the fact that for a few years Nokia's sheer size led to a lapse in their
thought process and strategy management. It would appear that they are
now very much back on the case and are taking steps to adjust their
methods to recover lost ground.
In summary, I believe my final paper to be coherent and that it addresses
the topics requested in a pragmatic and systematic manner. It is both
written and presented in a professional and fluent format.