Within the context of the scenario, discuss the importance of the management environment and its impact on managerial decision making.
Question 1.1
Not so long ago, Nokia was one of the leading makers of cell phones. But technological innovations like the iPhone left Nokia struggling to compete. The solution? Get out of the business of cell phones. In a bold move, Nokia sold its cell phone division to Microsoft and shifted its focus to its other technological endeavors. This helped stabilize the company and prevent greater losses. In an interesting twist, Microsoft recently announced that it’s selling the cell phone business it acquired from Nokia to Foxconn Technology. Foxconn has, in turn, struck a deal with Nokia to use the Nokia name on future cell phones. Nokia will earn revenue by licensing its name to a product the company was smart enough to stop making.
Within the context of the scenario, discuss the importance of the management environment and its impact on managerial decision making.
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