This happened in 1871. In 1967 Idestam Nokia AB decided to merge with Finnish Rubber Works company that manufactures tires, rubber boots and other rubber products. Then they decide also to merge with Finnish Cable Works Ltd., a manufacturer of power cables and telephone founded in 1912. It was given the name Nokia Corporation. So Nokia begins to deal with several types of businesses: rubber, cable,
2.3.2 Weakness One of the problems faced by Nokia is having difficulties to follow the change of customer trends and also in producing innovative products. Nokia has lack of appropriate innovation ability to change its strategies following the change of external environment requirements. Unfortunately, Nokia’s executives do not follow the market trend accurately where Nokia still applying the technology-oriented and product oriented strategies and ignored the needs of the customers which have changed nowadays as they use mobile phone as entertainment tool, not just for basic need for calling and texting. This makes Nokia product isolated from the current market. Business tactic of a company is very important
The purpose of this project is to study leadership style of two successful companies and two companies that failed because of the ineffective leadership. The companies that we have picked are mentioned below: 1. Nokia Nokia Corporation is a Finnish Multinational communications and information technology company. It is headquartered in Espoo, Uusimaa, in the greater Helsinki metropolitan area. It is one of the Fortune 500 companies with an annual revenue of €12.73 billion in 2014.
1.0 Introduction Nokia’s humble beginnings was founded in the year of 1865 as a business which focus on the operation of milling paper. Throughout the years, Nokia has successfully branched out onto other sectors such as rubber boots and tires. Nokia also went on to branch out to notable sectors including telecommunications and mobile phones. In 1998, Nokia rise through the ranks and became the market leader for mobile phones (Nokia, 2017). The first Global System for Mobile Communications also known as GSM handset that Nokia produced earlier in 1991 was the Nokia 1101.
Nokia used to be the leader in the mobile phone industry, they were well-known by their mobile phones and portable devices. However, Nokia failed to capture the demand of the clients and also failed to follow the trend in this industry. Nokia is now struggling in order to survive in this fast growing and competitive industry. This report would study about the case “Alarm ringing: Nokia in 2010”. We will understand and analyze the situation and difficulties of Nokia having now and give some recommendations.
By 1998 Nokia was the market leader in mobile phones a position which it enjoyed for a decade. Then in 2006 Nokia acquired mapping software company to strengthen its location services. In 2007 it combined its telecom infrastructure with those of Siemens to form a joint venture named Nokia Siemens Networks, which then became the leading telecom infrastructure provider with a focus on offering innovative mobile broad band technology. Nokia joined hands with Microsoft to strengthen its smartphones market, but then acquired by Microsoft completely in 2013. In 2013 Nokia saw an organizational restructuring, with new strategy and vision, building on its three strong businesses: Nokia networks, HERE, and Nokia Technologies.
Dominate the world for decades of Nokia, unable to get up after a fall. People can be summed it all sorts of errors in marketing, but its core competitiveness -- mobile phone technology, no one can deny the ability of Nokia. Nokia lack the ability which change technology into business, and this ability has not formed because Nokia’s ingrained conservative. Nokia executives believe that their responsibility is to improve their core competitiveness -- mobile phone technology. The Nokia senior executive Risku executives cited an example:” in the map business after the acquisition of Navteq, Nokia spend huge amounts of money; do not move in half year.
Also as compared to other china mobile handsets, Nokia prices are quiet higher 3. Problems when developing new products: In September 2002 it introduced colour screen mobile phone but one of its competitor(Samsung) had already introduced them, this was a weakness because people has already familiarised themselves with those which were introduced by their competitors. 4. Weak Presence: Nokia’s presence in some countries is very weak, in US its presence is very low and same also applies in Japan where its position is very weak which forced them to withdraw supplier of handsets because of tough market competition and this has resulted in lower profit overall sales. Opportunities 1.
Segmentation and targeting of Nokia: The market segmentation done by Nokia is very different as compare to the two brands mentioned above. Nokia has various smartphone categories that target a diverse audience. They have a variety of segments made on the basis of occupation, income, social class, lifestyles, end usage, age etc. All these segments are targeted differently with a specific category of phone and a unique marketing strategy for each. For example, the Nokia N-series is for the segment of students and teenagers.
Phil Knight, the founder of Nike, also said that “Business is war without bullets.” That is why every member in Nike has very passion and competitive energy. Second, the reason why Nike has very strong research and development apartment is because their products are manufactured in low wage factories in Far East countries. Therefore, they can concentrate on marketing image and research project. WEAKNESSES: 1) Profits are largely dependent on footwear • Refer to Appendix ______. If more companies enter the footwear market, their market share will drop due to increasing number of competitors in the market.