This project is about writing, thinking, and reflecting on an issue in Global Business that provides evidence of student learning.
The project requires the student to identify, analyze, and recommend solutions for real-time problems affecting the Global Business for Nokia.
The response addresses the queries posted in 3157 words with references.
//The given discussion paper is based on the Company 'Nokia', which is a mobile business company. The discussion is including the details of the global business of Nokia. In this discussion, the first section comprises of the abstract of the entire discussion in short, to give an overall understanding of the paper.//
Global Business for Nokia
In the present innovative world, it is very difficult for the companies to survive in the industry. With the help of effective strategies and sufficient resources, it would be easy for the company to grow. This paper is related to the analysis of Nokia Incorporation. With the help of this paper, I am going to explain the various problems and issues faced by Nokia in the global business environment. This paper helps the readers to understand the current position and corporate objectives of the company. After this, the paper presents the competitive analysis and the global trends. These trends and analysis helps to find out the various issues and risk, which is faced by the company in the competitive environment.
By means of the following paper, I am going to analyze the various parameters that are associated with the industry analysis, global trends and issues of the company in the business industry. According to the issues and problems, the readers would be able to identify the various recommendations.
//After giving the short intro of the entire discussion paper, in the next section of the discussion paper, the details of Nokia Company are given, so that, the reader can understand the business background and concept of the business of Nokia. In this series, the introduction of the corporation is given under the same heading.//
Nokia Corporation was formed in 1967 as a result of the merger of three Finnish Companies. As it entered into the telecommunication business, it established itself as a highly innovative company with pleasing products and high technological developments. The company gained the basis for long term acquisition strategy for growth in 1980, when it acquired a few more German, Finnish and French consumer electronics companies. This acquisition also strengthened the company's position in the field of telecommunication and consumer electronics (Nokia: About Company, 2008).
The cellular industry can be divided into two parts: the mobile handsets and the cellular infrastructure. Nokia had its presence in both of these segments but was able to achieve much of the success in the handsets segment. There are four business groups present in the company: enterprise solutions; mobile telephones; networks and multimedia. About 80% of the total revenue of the company is generated from its mobile device business and in spite of the current downward trends of the market, it control approximately one third of the global market share.
The production facilities of Nokia are spread around 11 countries round the globe and also owns a global network for operational units, sales, customer service and distribution.
The journey of Nokia started in 1865, when Fredrik Idestam laid its foundation on the southern side of Finland. On the bank of the Tammerkoski rapids, it started as a wood pulp mill. Later, another mill was also founded by Idestam on the bank of river Nokianvirta. In 1871, the company was known by the name of Nokia Ab. Its first digital telephone was designed in 1982 and it was the Nokia DX200. This marked the beginning of the operations of the company in this industry. The evolution of Nokia's mobile communication market grew stridently from 1984 to 1991. Till 1998, Nokia had become the world leader in the mobile phone industry. Their market is still growing with the introduction of new devices, which include multimedia functions, mobile online gaming, and high-speed Internet. In order to implement its products into different cultures all over the world, Nokia is very effectively making use of the market segmentation strategy (Steinbock, 2001).
//After having a good understanding of the background and concept of Nokia, in the next section of the discussion paper, the current position of Nokia is described in detail to understand the current status of the firm.//
In the world, Nokia is positioned as the fifth most valuable brand. It is earning near about $40 billion in sales within 140 countries. Nokia has built a strong global market place with near about 55,000 employees universally. It focuses on a global way of thinking, innovative corporate culture, research & development and on high market segmentation. It has been losing market share from last three to four years as compared to its foremost handset development competitors like Siemens, Motorola and Sony-Ericsson. The down slope has been a result of internal factors, for example: the future-orientated strategic focus has not taken action to the present and recent changes in the market and consumer preferences (Kotler, 2007).
//In the next content of the paper, the corporate objectives of Nokia is described in detail. Under this content, the mission, vision and goal & objectives of the company are described elaboratively.//
Mission Statement: The stated mission statement of Nokia contemplates and enforces on the consumer and their main objective is to convey technology and communication to more and ...
Global Business for Nokia