Using further information from the Internet, write a brief account of how different elements of the temporal and competitive environments interact to influence the situation at Nokia. Case Study: Strategic Change at NokiaBased in Finland, Nokia transformed from being a diverse conglomerate intoa world-leading mobile phone producer in the 1990s. Since then, the company hasexperienced very tough operating conditions in the face of competition fromSamsung and products like the Apple iPhone. Substantial layoffs and plant closurestook place across the world as Nokia missed out on consumers who were turningto smartphones. By concentrating on mobile phones, Nokia also faced intensecompetition from large volume producers in China with lower cost structures.A new CEO was appointed from Microsoft in 2010 and he quickly sent amemo to all employees. The memo, rich in metaphor, became known as the'burning platform' memo and basically said that Nokia had missed out on some bigconsumer trends and was now years behind the market and, while that washappening, top managers in Nokia thought they were doing the right thing andmaking good decisions.The new CEO accused Nokia of lacking accountability and leadership, of notcollaborating enough internally and not innovating fast enough. He likened thesituation that the company faced with being on a burning oil platform, theimplication being that Nokia could stay where it is and perish in the flames, or jumpinto icy waters and have a chance of survival. Despite the new CEO's 'call to arms',market share, revenues, profits and share price continued to fall. In 2013, Microsoftpurchased Nokia's mobile phone business and the CEO moved to Microsoft as partof the deal. If Nokia continues to lose share in the market then the Finnish economywill suffer further. The company had helped put Finland on the map as atechnological leader and employer of a lot of people.

Nokia, a Finnish company, has undergone immense changes in the past decade, transforming from a…

Answered: Using further information from the…

Using further information from the Internet, write a brief account of how different elements of the temporal and competitive environments interact to influence the situation at Nokia.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Similar questions

Responding to Business Challenges Target Aims for Bullseye with Supply Chain Improvements Target, alongside other retailers, is constantly competing for the same share of the market place. Target invested $5 billion toward improving its supply chain and technology infrastructure in a two-year period, including raising its delivery time standards for suppliers and investing in same-day delivery. Then, Target tested a new distribution strategy in order to make its stores quicker at restocking and distributing to stores and customers. Target's "replenish cycle" took days, but its new distribution strategy reduces that cycle down to hours. In Target's smaller stores, located in more urban areas, the company reduced the amount of inventory it has. Instead of large shipments of inventory, Target makes smaller deliveries to fulfill exactly what the stores need. This is more of a just-in-time approach to inventory management, which reduces waste and allows stores to get exactly what they need…
Explain the below CRM Process, Technology and Automation Criteria of Tim Hortons Contemporary Technology CRM Technology Implementation. CRM Data Sources Outsourced Services CRM Training in Communication Skills
Read Chapter 4 of the book IT Strategy & Innovation (4th edition), by James D. McKeen and Heather A. Smith and answer the following discussion question at the end of the chapter: What types of business value does a digital strategy enable? * One full-page answer *
In this case study, we dicusse the complex process of organizing an international conference on sustainability and environmental conservation. The event was held over four days, bringing together experts, researchers, and practitioners from around the world to discuss critical issues in the field. The organizing team faced numerous challenges, from coordinating logistics such as venue selection, accommodation, and transportation for attendees, to managing a diverse range of speakers and workshop leaders. They also had to devise an effective marketing strategy to ensure a robust attendance. The study delves into the strategies employed to address these challenges, highlighting the importance of meticulous planning, clear communication, and adaptable problem-solving. Question: What were the key factors contributing to the conference's success, and how can these lessons be applied to future events with similar objectives?
Discuss Value Chain Management by addressing the following: What are the total costs associated with producing and shipping a pair of slim-fit denim jeans to the end customer and how much is their profit? How does their “radical transparency” strategy help them compete?
Tech Products Inc. is one of the world's leading technology companies known for its innovativeproducts, including the TechPhone, TechPad, Tech computers, and software services. At present,Tech Products Inc. is now facing significant challenges in an evolving industry landscape due toincreasing competition and the introduction of similar products on both the local, regional andglobal markets. The company is aware that internal and external drivers play a crucial role inshaping the strategic direction and overall performance of an organization, and that to remainrelevant they must be able to understand and respond to these drivers in an effective manner. Toassist them in formulating a comprehensive strategy that can help the company navigate thecomplex business environment it faces, Tech Products Inc. has hired you as a StrategicManagement Consultant.Further to an initial meeting with Management, it was ascertained that Tech Products Inc. has notbeen keeping abreast with the changes in…