The paper "Nokia: Strategic Planning and Management" is an impressive example of a Business case study. This work is based on strategic planning and management for Nokia. It is divided into four sections as follows. The first section presents a comprehensive analysis of the external environment in which the company operates. presents a comprehensive analysis of the external environment in which the company operates. Since the analysis is based on the mobile phone industry, it is done with reference to the macro-environmental factors that affect all the players in the industry in general and Nokia in particular.
In the second section, information about the competitiveness of Nokia in the industry is presented. The evaluation is based on a number of different factors like the number of resources that are at its disposal. Also, the company’ s unique capabilities and how this can be used as a competitive advantage is analysed. The third section contains information about the right strategy that Nokia needs to adopt for its future. From the five generic strategies that have been developed, a choice for the right strategy that Nokia should adopt is made.
Lastly, a new vision statement for the organisation is identified. This is based on the most important strategic and financial objectives that the organisation has for the next five years. Analysis of the External Environment The external environment of Nokia can be analysed in terms of what factors in its macro-environment are of strategic significance to the company. According to Thompson, Strickland, and Gamble (2013, p. 46) factors that are strategically relevant to an organisation are those which affect the way the company makes decisions about its own future and business model.
The general macro-environment of industry is made up of the political, environmental, socio-cultural, technological, economic, and legal (PESTEL) factors (Bensoussan & Fleisher, 2012, p. 190). For Nokia, these factors are analysed as follows. PESTEL Analysis One relevant factor is the rapid pace of technological changes in mobile phones. With increasing changes in the hardware, software and overall design of phones in general and smartphones in particular, there is need for players in the industry, Nokia included, to focus on research and development.
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