Please annotate at least a Minimum of 5 scholarly peer reviewed journal articles must be included and a reference list of at least 10 references (books, journals, interviews, etc.). Please read the following for the design and requirements for the Strategic Plan of your organization. Please annotate the name of the organization.
The Strategic Plan of your organization should contain the following:
This section will present your identification of the firm's strengths and weaknesses, which emanate from your value chain and functional analyses. There is a maximum of five strengths and five weaknesses and your presentation of them should be prioritized. Exhibits are effective tools to provide strong support for each strength and weakness. Please be as specific as possible and quantify your analysis where appropriate. This section will provide the first part of the foundation for your identification of strategic issues and related recommendations through your analysis of the organization's core competencies, competitive advantages and organizational weaknesses.
This section will present your identification of the major external threats and opportunities currently facing the organization. These will be generated from your analysis of the industry and general environmental factors in light of the organization's strengths and weaknesses. A maximum of five threats and five opportunities should be identified and should be presented in a prioritized order. Use power point exhibits to support your analysis, be specific and quantify your analysis where possible. This section will provide the second part of the foundation for your identification of a strategic issue and the formulation of related recommendations through your analysis of driving forces, key success factors and industry attractiveness.
STRATEGIC ISSUES AND RECOMMENDATIONS
Identify and fully support and discuss the most important strategic issue facing your organization. It is extremely important that you clearly integrate the strategic issue with your analysis to the organization's SWOT. There often interrelationships between particular weaknesses and threats or missed opportunities, which should be recognized. It's possible that 2 different weaknesses, 1 threat and 1 opportunity could be combined, due to their relatedness, to form one strategic issue.
Similarly, your recommendations should attempt to capitalize and build upon strengths, competitive advantages and opportunities that you identified. The point is to clearly ground your issue and recommendations with the internal and external analyses.
Strategic Plan: Nokia Incorporation
About Company: Nokia Incorporation
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 (How it all Began, 2009). This acquisition also strengthened the company's position in the field of telecommunication and consumer electronics (Nokia: About Company, 2009).
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 (Nokia's First Century: 1865-1967, 2009). Its first digital telephone was designed in 1982 and it was the Nokia DX200 (Andrea, 1987). This marked the beginning of the operations of the company in this industry (How it all Began, 2009).
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 (Mobile Revolution: 1992-1999, 2009). 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).
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 120,827 employees universally (Nokia Now: 2000 to Today, 2009). It focuses on a global way of thinking, innovative corporate culture, research & development and on high market segmentation (Kotler, 2002).
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 (Zeman, 2008). 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 (Nokia Now: 2000 to Today, 2009).
Strengths of the Company
Due to the strong brand name and product line, the customers feel comfortable at the time of using product (Nokia Now: 2000 to Today, 2009). The strong brand name of the company and advanced technology of products with the variety has attracted a wide area of customers towards the company (Steinbock, 2001). Nokia has more than 33% market share in the industry and it is on fifth place in the world (Lovelock, 2008).
It has a strong financial background and it is a very big strength of the company. It is also the leading player in its industry due to the strong brand name, various services and innovated products line. In 2007, approx. 50% of Nokia's net sale was from Africa/Europe/Middle East, Asia-Pacific approx. 20%, China approx 10%, North America approx 10% and Latin America approx 10%. The United Arab Emirates, ...
The solution prepares a strategic plan for Nokia. Organizational analysis is given.