Case study: Finland and Nokia 1. How was Finland able to move from a sleepy economy to one of the most competitive nations in the world by the end of the 1990’s? Finland was considered a sleepy country even after their independence from Sweden‚ depending its economy mainly on the Soviet Union by exporting its natural resources. Finland however slowly but constantly developed its economy up to the OECD average‚ following the models of its Nordic neighbors to invest highly in social welfare and
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Porter’s Five Forces Model of Industry Structure An industry is a group of firms that market products which are close substitutes for each other (e.g. car industry‚ travel industry). Some industries are more profitable than others. Why? The answer lies in understanding the dynamics of competitive structure in an industry. The most influential analytical model for assessing the nature of competition in an industry is Michael Porter’s Five Forces Model‚ which is described below: Porter explains there
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NOKIA History of NOKIA The name NOKIA comes after the Nokia River in southern Finland‚ next to which the original Nokia wood pulp mill was located. The first Nokia century began with Fredrik Idestam ’s paper mill on the banks of the Nokianvirta river. Between 1865 and 1967‚ the company would become a major industrial force; but it took a merger with a cable company and a rubber firm to set the new Nokia Corporation on the path to electronic. In 1967‚ all 3 companies merged-up to form the NOKIA
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Steve Jobs‚ who managed the whole Apple Company by using the Model of Five Competitive Forces to achieve his company’s goals. The five forces model of Porter is an outside-in business unit strategy tool that is used to make an analysis of the attractiveness of an industry structure and it captures the key elements of industry competition. (Amitanshu Srivastava‚ 2009) The model of five competition forces was created by Michael E. Porter in the book that he wrote‚ there was "Competition Strategy: Techniques
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Nokia is a well known brand in the world of mobile communication and it is the world leader in the industry because of its history‚ name‚ reliability and unique products and provision of protected solutions. It is one of the most well-known companies and it has offices all over the world. The main product of Nokia is mobile phones and it also deals in household items. Nokia recognizes its corporate responsibility and states that “in all parts of business it makes corporate responsibility a part of
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What are the trends in the mobile handset industry? What is Nokia’s strategy and how has globalization changed its way of operation? Trends: · Demand for phones in US and Europe are decreasing · High demand for cheaper phone models in Middle East‚ Southeast Asia‚ Africa‚ China‚ India o Low-cost handsets=reduced Average Selling Price o Growing market for $25 and $10 phones · Companies moving manufacturing plants to low-cost Asian countries * Rising
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Nokia Code of Conduct Nokia Code of Conduct Dear Colleague‚ Nokia products touch the lives of billions of people‚ from every corner of the earth‚ from every type of culture‚ from every age and background‚ every day. In fact‚ we made it our mission to get a mobile phone into the hands of everyone‚ because we believe technology should be a powerful force for societal advancement. By connecting people to mobile products and services‚ we can help people improve their lives no matter what
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Positioning in 5 Forces This section will discuss Porters 5 forces of competition and Pompeian is situated in each element. Company’s need not only to focus on the impact of their direct competition but also other external factors that could influence their strategy. Threats of New Entry (Entry Barriers) – Pompeian needs to evaluate how other companies could enter the olive oil market and how quickly they could become a national distributor of the product. This threat is a low one for Pompeian‚ the
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Microsoft and Nokia. This ‘transformation’‚ turning Microsoft into a ‘devices and services’ company‚ is key to the company’s continuing survival‚ and would be impossible without Nokia. Here are four reasons why the acquisition had to happen: Microsoft need to keep its momentum Recent industry figures have shown Microsoft’s Windows Phone 8 posting its highest ever market share allowing the mobile OS to leapfrog BlackBerry and become the third-most popular globally. This means that Windows Phone
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Introduction Nokia was founded in 1865‚ is headquartered in Finland‚ mainly engaged in the production of mobile communication products multinational‚ is the world’s third largest mobile phone manufacturer. February 2011‚ Nokia and Microsoft entered into a strategic alliance and the depth of cooperation. Over the past few years‚ Nokia shares have gradually from London‚ Frankfurt‚ Paris and Stockholm stock market delisting. February 9‚ 2012‚ due to poor management‚ Nokia announced layoffs in three
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