The paper "Strategic Management of Nokia Corporation" is a perfect example of a management case study. The objective of this study paper is to present a case study analyzing corporate strategic management success and how strategic management approaches play an important role in determining the success of a company. The case study is the Nokia group, which represents a very unique case of the corporation in attaining management success in the competitive telecommunication industry (Yin, 1994). Management success at the scale of Nokia happens very rarely, thus any particular case occurring is worth reporting and analyzing.
Generally for any company to achieve such global achievement is determined with several factors which include the firm’ s environment, both internal and external, the management, products of the company, information systems or structures, and strategic systems. For the purpose of this paper, we shall concentrate mostly on management and strategy systems used to propel Nokia to its current success. The study case undertaken for the review is a case of Nokia Corporation. The case study report focuses on the strategic aspects of corporate management. As it is understood that being able to comprehend these aspects will as well elucidate to a certain degree the overall financial success of a company in this case Nokia.
The case study a report on strategic management approaches undertaken by companies in steering their management to deal with economic and industry changes that occur in the ever-changing business world. Company profile Nokia Corporation is a global leader in mobile phone provider and a global number one in supplying of mobile besides fixed telecom systems including associated customer services. The company also supplies various products and solutions for wireless and fixed data communications, multimedia terminals as well as computer monitors.
Nokia Corporation entails three business groups: Nokia Telecommunications, Nokia Mobile Phones and Nokia Communications Products, additionally, Nokia comprises a separate corporate research division, the Nokia Research Centre. The collective net sales in 1998, of the Nokia group, amounted to USD 15.7 billion. The corporation has its Headquarters in Finland, Nokia sales its products in more than 130 countries and has a workforce of over 47,000 employees worldwide. (Nokia Business Groups, 2007) Background of the case study The history of Nokia can be traced back to 1865, following Fredrik Idestam Finnish mining finding a wood-pulp milling company in Finland and began producing paper.
Ever since those initial times, the company has advanced, initial into a conglomerate comprising of a number of industries that varied from paper, rubber and chemical products. However, in the 1990s the company undertook a clearly well-defined strategy as a dynamic, international telecommunication corporation. It is worth noting that the foundation for telecommunication was laid down in the earlier day of the 60s when the company was researching electronics and radio transmission and in the 70s on mobile phones on top of telecommunications products were being manufactured for domestic and global clients.
In the 80s and 90s, the corporation became one of the global leaders in digital telecommunication technology. From the initial start, Nokia Corporation encountered rivalry from well established multinational rivals in its domestic telecommunications industry. Along with other aspects, the capacity to fully utilize opportunities created through permanent technological as well as industry trend changes has assisted Nokia to grow into a corporation it is presently.
Collis & Montgomery (1995) account for two competing strategies concerning the function of corporate management in those companies which are multi-business. Corporate strategic management approaches can result in:
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