Strategic Management

Strategic Management Management

ASSIGNMENT ON Strategic Management

Submitted by Name: ID#

Submitted to Course Instructor

Date: August, 2010.


Acknowledgement This Strategic management has given me the opportunity and most valuable researchable information needed to become successful in the field of o f Strategic Management. These are the effective arts of o f creative intellectual thinking and the mountable value of individual work.

I am extremely happy and grateful to my mentor to have guidance and advisor who has always give the support and believe in us from day of starting and motivated me all through.

In the course of completion and conducting the assignment for data collection, I would like to say and express my deepest gratitude to those of the people who helps and supports me for the t he collection of the right and accurate information.


EXECUTIVE S EXECUTIVE S U UMMARY MARY M Nokia N8 is new device of cell phone which has lots of functions and latest updates. Nokia has increasing market trend and the overall market share of Nokia is around 50% based on the survey information of 2009. Nokia¶s great slogan is ³Connecting ³Connectin g with people´ that connect people wherever they are. The consumers of Nokia are worldwide and it has great varieties of products in diversified market. Recently Nokia unveiled and released a new device and product for its customers, and of them Nokia N series products including the Nokia Nokia N8 are high demanded products. AT the very beginning beginning of time and recently Nokia held a Convention which is in Singapore. In that convention Nokia renewed and rectified its commitment and promises of determination to serve and deliver the great deal of experiences to their customers with its new and latest range of products and promotions. Nokia convention has been held basically to renew its commitment and given promises to its loyal customer. At that event of convention, two new devices were announced by Nokia and these are the Nokia X6 8GB and the Nokia X5, in addition with this showcase of Nokia the gorgeous and high designed Nokia N8 was revealed for the first time in the market of cell phone basically for the region re gion of its customer to the media and the analysts. N8 is high quality smart phone in the cell phone market. The aim of Nokia is to satisfy a broad and wide range of customers over the world. Nokia is becoming and continuing it¶s growing up of market and it is to bring an affordable and a nd easy access to the communication of mobile. There are hundreds of millions of people in the world using the Nokia as primary phone. Nokia is bringing smart phone in the market and its functionality and varieties to the mass customer market easily and quickly and it is more and more affordably. Among all smart phones Nokia Nokia N8 is one of the first smart smart phone which is a device for the people want to create and enjoy the contents of N series that are really amazing. Nokia N8 has TV programmers¶ and Ovi Store apps. Nokia N8 has great stores of music player which has great entrance to the thousands of songs.


Table of Contents 1.1

Introduction:

1.2

Objective of the Assignment:

1.3

Scope of the Study:

1.4

Methodology:

2.1 Strategic Change: 2.2 Business Transformation 2.3 Considerations in Business Transformation: 2.4 Convention of Nokia in Singapore: 2.5 Nokia¶s change of connecting people: 2.6 Principles of Nokia¶s change management: 2.7 Renewal of Nokia¶s Commitment: 3.1 Successful change Strategy of Nokia: 3.2 Assessment of Competitive Environment: 3.3 Considerations in Assessing Competitive Environment: 3.4 Process of Competitive Strategy and Method of Assessment: 3.5

Strategic Transformation of Nokia:

3.6

Key Elements of Nokia¶s Business Transformation:

Evaluation of Nokia¶s Transformational Change:

Strategic Management Management 4.1 Value Chain Process of Nokia: 4.2 Porter's Value Chain: 4.3 Competitive Advantages: 4.4 Nokia¶s Competitive Advantages: 4.5 Factors of Competitive Advantages: 4.6 Corporate Strategies of Nokia: 4.7

Comparison of Corporate Strategies with Apple:

5.1 Joint Venture: 5.2 Failure Strategies of Nokia: 5.3 Consolidation and Recovery Strategy: 5.5 Suggested Strategy for Nokia: 6.1 Conclusion:

Strategic Management Management 1.1 Introduction I ntroduction:: The world is becoming more competitive and high competition makes the world to be globalized and so today¶s business world has become more improved and developed. And thus thus now the world business market market is very very and tremendously tremendously competitive. The organization has to follow some rules that should help the company to reach its destination. At the very beginning be ginning of business and creation of company existence there are certain goals and objectives have to set. The target makes the organization to reach its destination and to reach that organization¶s targets company management is very important thing which must need to be proper and accurate. Nokia as a company, it¶s a growing company which is in at maturity position of its life cycle. The global market of Nokia is very high demanded and rich. Approximately 50% market share are under control of Nokia Company. Nokia¶s great slogan is ³Connecting with people´ that connect people wherever they are. The consumers of Nokia are worldwide and it has great varieties of products in diversified market. Recently Nokia unveiled and released a new device and product for its customers, and of them Nokia N series products including the Nokia N8 are high demanded products.

1.2 Objective of the Assignment: The basic objective and general focus of the assignment is to get and to identify the major important factors which can be ensured by the best customer serving by delivering best and by satisfying their needs in the mobile phone sector. The assignment has been done by analyzing the company of cell phone industry and basically Nokia.

Strategic Management Management 1.3 Scope of the Study: The scope of study is very important factor of the rules of guidance and path of success. The scope of this assignment is basically limited to its function and to the overall brief description of the Nokia Company, its products, products ranges and customer services, and its position of ranking in the cell phone industry. The scope of the assignment is so limited to the management plan and management team, and lastly the organizational setup of the t he company.

1.4 Methodology: The methodology is most important consideration in case of prepar ing the report. So, to prepare the assignment on strategic management of Nokia is crucial. The analysis method has been done without statistical presentation but the description descr iption and interpretation of current data has been shown by step by b y step. In that case, the methodology of the analysis can be described as descriptive research.

Strategic Management Management 2.1 Strategic Change: Strategic change is the need for the t he organization¶s organization¶s further development and progressive pathway of organization¶s success. A strategy basically the strategic plan for the company is a long term plan of business and long term way to achieve and attain some specific goals or objectives and to reach the target of the business. b usiness. The success of the company is totally depending on the strategy s trategy of management and managerial decision of the company. The short term ter m strategy is really important for gaining the long term strategy of company. Strategies are based on the company objectives and generally focus on the near future of company to bring the change of organization and to cope up with the success s uccess of corporation.

2.2 Business Transformation Transformation Now a day¶s transformation of business is becoming a more important to look at. Business transformation starts from the change of organization o rganization objectives and cause of manage change to organization. Business change and its transformation can be considered as a compliment of change management and strategy for managerial change in the company that can aim to business change of aligning People, operations, operational activities and business process and technological technological change of the company. The organization has to follow some rules that should help the company to reach its destination. At the very beginning of business and creation of company existence there are certain goals and a nd objectives have to set. The target makes the organization to reach its destination dest ination and to reach that organization¶s targets company management is very important thing which must need to be proper proper and accurate. So, business transformation has has an influential impact on industry life cycle as well.

Strategic Management Management 2.3 Considerations in Business Transformation:  Planning

One of important key of aspect to management of the company and to the managerial role is known as planning. Planning is more or less necessary consideration of implementation of attaining organization¶s goals. T he planning procedures depend on the organization¶s resource and resource material t hat shows the inner strength of corporation.  Setting Goals

To implement the plan and planning of organization goals setting and targeting the profit making stream is very important. Without proper path way and definite goals a company cannot reach to its destination. So, change management has everything to plan the right way of long term blueprint of enterprise and it¶s depend on the procedures of organization¶s goals setting. sett ing.

2.4 Convention of Nokia in Singapore: At that event of convention, two new devices were announced by Nokia and these are the Nokia X6 8GB and the Nokia X5, in addition with this showcase of Nokia the gorgeous and high designed Nokia N8 was revealed for the first time in the market of cell phone basically for the region of o f its customer to the media and the analysts. N8 is high quality smart phone in the cell phone market. The aim of Nokia is to satisfy a broad and wide range of customers over the world. Nokia is becoming and continuing it¶s growing up of market and it is to bring an affordable and easy access to the communication of mobile. There T here are hundreds of millions of people in the world using the Nokia as primary phone. p hone. Nokia is bringing smart phone in the market and its functionality and varieties to the mass customer market easily and quickly and it is more and more affordably.

Strategic Management Management 2.5 Nokia¶s change of connecting people: Nokia¶s great slogan is ³Connecting with people´ that connect people wherever they are. The consumers of Nokia are worldwide and it has great varieties of products in diversified market. Recently Nokia Nok ia unveiled and released a new device and product for its customers, and of them Nokia N series products including the Nokia N8 are high demanded demande d products. Nokia has has to follow some rules that should help the company to reach its destination. At the very beginning of business and creation of company existence there are certain goals and objectives have to set. The target makes the organization or ganization to reach its destination and to reach that organization¶s targets company management is very important thing which must need to be proper proper and accurate. AT the very beginning beginning of time and and recently Nokia held a Convention which is in Singapore. In that convention Nokia renewed and rectified its commitment and promises of determination deter mination to serve and deliver the great deal of experiences to their customers with its new and latest range of products and promotions. Nokia convention has been held basically to renew its commitment and given promises to its loyal customer. c ustomer.

2.6 Principles of Nokia¶s change management: 1.

Change management takes place generally in organization¶s movement of current operations and management change requires for business transformation from current position of enterprise.

2. Change management requires understanding of business b usiness and knowing the perspectives better from different point of view.

Strategic Management Management 3. To bring a change in the organization or ganization targeting the the new goals is necessarily needed and setting of rules and procedures to follow the rules should be clearly identified.

2.7 Renewal of Nokia¶s Commitment: Nokia is bringing smart phone in the market and its functionality and varieties to the mass customer market easily and quickly and it is more and more affordably. Among all smart phones Nokia N8 is one of the first smart phone which is a device for the people want to create and enjoy e njoy the contents of N series that t hat are really amazing. Nokia N8 has TV programmers¶ and Ovi Store S tore apps. Nokia N8 has great stores of music player which has great entrance to the thousands of songs and movies and has an IMS which is also known as integrated messaging service for the business connectivity and social networking advantage. advantage. Nokia N8 is new device of cell phone which has lots of functions functions and latest updates. Nokia has increasing market trend and the overall market share of Nokia is around 50% based on the survey information of 2009. At that event of convention, two new devices were announced by Nokia and these are the Nokia X6 8GB and the Nokia X5, in addition with this showcase of Nokia the gorgeous and high designed Nokia N8 was revealed for the first time in the market of cell phone basically for the region of its customer to the t he media and the analysts.

Strategic Management Management 3.1 Successful change Strategy of Nokia: To bring the success in organization¶s change and change of o f management there are some important considerations need to follow. 1. Increase of c of company ompany urgency tha that ind ind icat cat es es an increase of c of company ompany urgency needs to ins ins pire pire of pe peopl e and i and ins pira piratio tion n to move move forward forward and and to to make make g oal s reali reali sti stic, c, accu accurat rat e and re and rel l evant ant to company ompany mi ssio ssion n.

2. Buil d d ing of ng of the the g uid uid ing fo ng for r um um s tha that manage manage t eam: eam: Buil d d ing of ng of the the g uid uid ing for for um um s tha that manage manage t eam eam i s i s necessary to ge to gett the the accu accurat rat e and r and r i g ht ht pe peopl e tho se who are reall reall y acce pt ed b ed b y human human resou resource rce manager, the the r i g ht ht pe peopl e shoul shoul d i d inco ncor pora porat t e in pl ace ace with necessary r i g g ht and ht and re rel l evant ant ccommitmen ommitm ent t s to organ organiz iza ation tion.

3. Getting tting of of the the r i g g ht and ht and acc accu urat rat e company ompany vi sio sion n: Ge Getting tting of of the the r i g g ht and ht and accu accurat rat e company ompany vi sio sion n i s s necessary to ge to gett the the per f ect ect t eam eam to impl ement ent and to and to ge gett the the reach reach of des of desti tina natio tion n to a simpl simpl e organiz rganiza ationa tionall vi s vi sio ion n tha that foc focu s on st st rat rat egy egy and st st rat rat eg eg icall call y change of manage managem ment ent for for ser ser vice vice excell excell ence ence and m and managem anagement ent ee ffic fficiency. ency.

4. Commun Communicatio cation n of bu y bu yiing : Commun Commu nicatio cation n of bu y bu yiing b ng basi asicall call y involve volve many pe peopl e acco accord ing to ng to the the as many it i s s po ssibl ssibl e. Commun Communicatio cation n of bu yi ying a ng al so so inc inclu ludes des commun ommunicatio cation n of the the requi require rem ment ent s and p and peopl e's e's needs or wan r want t s. s.

5. Empower Empower ment ent of ac of actio tion n: Empower Empower ment ent of ac of actio tion n inclu ncludes des remov remova al of ob st st acl acl es, es, enabli enabling ng of of cconst nst r r uctive tive and r and r i g g ht way ht way of acc of accu urat rat e f eed eed back and ack and lot s of ju s ju stifi tified ed suppo suppor r t t s are needed f needed f r r om om l eaders eaders

Strategic Management Management 6 .

Shor Shor t t er er m su success for for lo long ng t t er er m g oal s: s: Shor Shor t t er er m su success for for lo long ng t t er er m g oal s inclu ncludes des se setti tting ng of of a aim whic hich i s per f ect ect and and easy easy to t ake ake and a and att ain.

7. M ak ak ing of ng of manage managem ment ent cchange st st r r ictl y: y: M ak ak ing of ng of manage managem ment ent cchange st st r r ictl y inclu ncludes des rei rein forc forciing of ng of the the value lue add ing of ng of pa path way and an and an impl ement ent ed ed su success ful organ organiz iza ationa tional l cchange b y e ff ectiv ectivee recr uitmen uitment t policy, policy, pr omotiona omotional l ac activiti tivities, es, and c and chang ing of ng of manage managem ment. ent.

3.2 Assessment of Competitive Environment: Environment: One of important key of aspect to management of the company Nokia is assessing assess ing competitive environment. And to the managerial role is known as environment analysis. Environment analysis is more or less necessary consideration of implementation of attaining organization¶s goals. The planning p lanning procedures depend on the organization¶s resource and resource material material that shows the inner strength of corporation. To implement the plan and planning of organization goals setting and targeting the profit making stream is very important. Without proper path way and definite goals a company cannot reach to its destination dest ination.. So, change c hange management has everything to plan the right way of long term b lueprint of enterprise and it¶s depend on the procedures of organization¶s or ganization¶s goals setting. As part of assessing competitive environment Nokia renewed and rectified its commitment and promises of determination to serve and deliver the great deal of experiences to their customers with its new and latest range ra nge of products and promotions. Nokia convention has been held basically to renew its commitment and given promises to its loyal customer.

Strategic Management Management 3.3 Considerations in Assessing Competitive Environment: Political

Analysis

y

Political instability

y

Risk of invasion to military

y

Favorable trading partner

y

Laws

y

Pricing strategies and regulation

y

Taxation and increase of tax rates and incentive

of anti trust

Economic Analysis y

Different

types of economic systems and ways w ays in operating countries.

y

Government intervention in the economic market and in the free market

y

Comparatives advantage of hosting country

y

Efficiencies in financial market

y

Unemployment

y

Inflation and increase of rate

y

Increase of interest rate

rates and increase of literacy rate

Social Analysis y

Demographic

of customer

y

Class and wealth structure

y

Education and literacy rate

y

Culture and customs

y

Spirit of entrepreneurial ship

Strategic Management Management Technological Analysis y

Technological impact on products offering

y

Impact on organization cost structure

y

Impacts on value chain structures

y

Rates of technological diffusions

3.4 Process of Competitive Strategy and Method of Assessment: Process of Competitive Strategy and Method of Assessment depends on business development and business development driven change that requires effective management policy and business change of o f management hierarchy. The activities act ivities of department also change with the change of business developm de velopment. ent. y

S al es gr es gr owth of the the company ompany and it and it s dev developmen lopment t

y

Innov Innova ation tion of new of new pr od uct and t and de devvelopmen lopmentt of bu s bu siiness

y

M arket arket seg seg ment ent ation tion and de and devvelopmen lopmentt of new of new market arket

y

Developmen lopmentt

of bu s bu siiness b y dev developing loping th thee organiz rganiza ation, tion, organiz rganiza ationa tional l r r ul ul es es

and reg and reg ul ul ations, tions, organiz rganiza ationa tional l st st r ru cture ture change and p and pr ocesses dev developmen lopmentt of company ompany.. y

Change Change of pe peopl e of c of company, ompany, change of manage managem ment ent pr pr ocess and i and increasi ncreasing the the commun ommunicatio cations ns within ithi n the the organiz rganiza ation tion thr thr ou ou g h be bett er t er t rai raining p ng pr o gram. gram.

y

Change Change of st st rat rat egy egy and st st rat rat eg eg ic par t tnership n ership agreem agreement ent and and cchannel annel s of d i st st r ribution i butio n and suppl suppl y chain managem anagement. ent.

y

Company Company int ernal ernal de devvelopmen lopment t

y

Change Change of d of d i s s po sa po sal l s and acq and acqui ui sitio sitions ns..

Strategic Management Management 3.7 Strategic Transformation of Nokia: Strategic transformation of Nokia brings the company co mpany more affluent in grasping market share of cell phone. The target makes the organization to reach its destination and to reach that organization¶s targets company management is very important importa nt thing which must need to be proper and accurate. Nokia N8 is is new device of cell phone which has lots of functions and latest updates. Nokia has increasing market trend and the overall market share of o f Nokia is around 50% based on the survey information of 2009. Nokia¶s great slogan is ³Connecting with people´ that connect people wherever they are. The consumers of Nokia are worldwide and it has great varieties of products in diversified market. Business change and its transformation can be considered as a compliment of change management and strategy for managerial change in the company that can ai m to business change of aligning People, operations, operational activities and business process and technological change of the company. Recently Nokia unveiled and released a new device and product for its customers, and of them Nokia N series ser ies products including the Nokia N8 are high demanded demande d products. So, business transformation has an influential impact on industry life cycle as well. I n modern world Nokia¶s business transformation of business is becoming a more important to look at. Business transformation starts from the change of organization objectives and cause of manage change to organization. The organization has to follow some rules that should help the company to reach its destination. At the very beginning of business and creation of company existence there are certain goals and objectives have to set.

Strategic Management Management 3.8

ey K ey

Elements of Nokia¶s Business Transformation:

The key elements of Nokia¶s business transformation include some important considerations that lead the company to help in managerial change and business development. y

y

lanni a nning of ng of P l

Be Bett er er st st rat rat eg eg ic vi sio sions ns Spec Specifi ified ed and and de det t ail pl an an

y

y

long long t t er er m achi achieevement. ent.

sing o ng on F ocu si

det det ail ed pl ed pl an an to est est abli sh sh and m and measu easure the the deliv delivery ery of time timel y actio action n.

y

E st st abli shi shing ng of the the for for um um in in the the bu si siness ent ent er er pr pr i se. se.

y

Empower Empower ment ent of the the peopl e for for m mak ing impo ng impor r t tant a nt dec decii sio sions ns in bu si siness l evel

y

E st st abli shm shmen entt of a of a su success ful and ful and g g ood ood p practi ractice ce of c of culture ulture and c and company ompany ethics thics..

y

tive Active

sing of ng of w workshop rkshop U si

y

y

t eam eam empower mpower ment ent and and t t eam eam work ing .

Ad ju stm stmen entt

3.9

to get get be bett er t er t rai raining .

in in recr uitmen uitmentt policy policy..

Evaluation of Nokia¶s Transformational Change:

In the evaluation of Nokia¶s Transformational Change includes Nokia¶s change management that takes place generally in organization¶s movement of current operations and management change requires for business transformation from current position of enterprise and Nokia¶s change management that requires understanding of business and knowing the perspectives better from different point of view. Nokia as a company, it¶s a growing company which is in at maturity

Strategic Management Management position of its life cycle. The competition co mpetition among the cell phone industry is becoming more competitive and high competition makes the world to be globalized and so today¶s business world has become more improved and developed. The target makes makes the organization to reach its its destination and to reach reach that organization¶s targets company management is very important thing which must need to be proper and accurate. And thus now the world business market is very and tremendously competitive. The organization has to follow some rules that should help the company to reach its destination. At the very beginning of business and creation of company existence there are certain goals and objectives have to set. So to bring an overall change in the organization targeting the new goals is necessarily needed and setting of rules and procedures to follow the rules should be clearly identified. At a project level, six key considerations are:  F ocu si sing o ng on

bene fit s

esourc rciing and ng and out out sou sourc rciing  Resou 

E x pand pand ing, dev developing loping and and l l earni earning



Su st st ainabilit nabilit y of bu s bu siiness



S k k ill ill ed w ed work force force

ro d uction tion  P r

pr ocess

4.1 Value Chain Process of Nokia: Value chain of Nokia includes two types¶ activities and these are primary act ivities and the supportive activities. In the primary activities activities the considerable ingredient are inbound logistics, operations, the logistics of outbound, the sales promotion and marketing process with proper plan and the last thing t hing to consider is services. Nokia N8 has TV programmers¶ and Ovi Store apps. Nokia N8 has great stores of music

Strategic Management Management player which has great entrance to the thousands of songs and movies and has an IMS which is also known as integrated messaging service for the business connectivity and social networking advantage. Nokia N8 is new device of cell phone which has lots of functions and latest updates. Nokia is bringing smart phone in the market and its functionality and varieties to the mass customer market easily and quickly and it is more and more affordably. Among all smart phones Nokia N8 is one of the first smart phone which is a device for the people want to create and enjoy the contents of N series ser ies that are really amazing. The value chain of Nokia deals with the creation of value with better services ser vices to its loyal customers.

4.2 Porter's Value Chain:

Strategic Management Management According to Porter, the value chain includes some particular things and these are categorized into different parts, according to porter the primary activities are:

Primary

1.

Inbound

Activities:

Logistic.

2. Business operation. 3. Outbound

Logistic.

4. Marketing and Sales of promotional activities 5. Services

Secondary activities: 1.

Procurement of raw materials

2. Human Resource management process 3. Technological Development and 4. Infrastructure of organization

4.3 Competitive Advantages: Advantages: Competitive Advantages includes Competitive strategies,

Differentiation strategy,

Cost management Leadership, Differentiation on Focus, Cost on Focus. These all are crucially important in case cas e of gaining competitive competitive advantages.

Strategic Management Management 4.4 Nokia¶s Competitive Advantages: Nokia has great competitive advantage in the market because of its differentiation policy that is spread to worldwide. Among all smart phones pho nes Nokia N8 is one of the first smart phone which is a device for the people want to create and enjoy the contents of N series that are really amazing. Nokia¶s strategy basically the strategic plan for the company is a long term plan of business and long term way to achieve and attain some specific goals or objectives and to reach the target of the business. b usiness. Nokia N8 has TV programmers¶ and Ovi Store apps. Strategic change is the need for the organization¶s further development and progressive pathway of organization¶s organization¶s success. The success of the company is totally depending on the strategy of management and managerial decision of the company. Nokia N8 has great stores of music player which has great entrance to the thousands of songs so ngs and movies and has an IMS which is also known as integrated messaging service for the business connectivity and social networking advantage. advantage. The short term strategy is really important for gaining the long term strategy s trategy of company. Strategies are based on the company objectives and generally focus on the near future of company to bring the change of organization and to cope up with t he success of corporation.

Strategic Management Management 4.5 Factors of Competitive Competitive Advantages: 

Competitive position of business market sharing advantages



Competitive Strategies

 Differentiation strategy 

Cost management Leadership

 Differentiation on Focus 

Cost on Focus

4.6 Corporate Strategies of Nokia: The corporate strategies of Nokia depend on the management process of the company. From the source of information Nokia has approximately 50% market share which are under control of Nokia Company. Nokia¶s great slogan is ³Connecting with people´ that connect people people wherever they are. The consumers of Nokia are worldwide and it has great varieties of products in diversified market. Recently Nokia unveiled and released a new device and product for its customers, and of them Nokia N sseries eries products including the Nokia N8 are high demanded products. These growth of Nokia Nokia is the overcome of Nokia¶s Nokia¶s better corporate strategy.

Strategic Management Management 4.7 Comparison of Corporate Strategies with Apple: Nokia has better sales growth of the company co mpany and its development. Nokia¶s Change of strategy and strategic partnership agreement and channels of distribution and supply supply chain management is very efficient. Nokia as a company company has internal development. Nokia¶s change of disposals and acquisitions are very effective comparing with Apple. Nokia has innovation of new product and development of business. The market segmentation and development of new market creates lots of opportunity to grasp the t he customer by attracting them with Nokia¶s great sorts and models of o f cell phone design. The development of business by developing the organization, organizational rules and regulations, organizational organizational structure str ucture change and processes development development of company co mpany and the change of people of company, change of management process and increasing the communications within the organization through better training program makes Nokia to run the business in sitting down on the consumer market.

5.1 Joint Venture: Joint venture is basically the agreement of contract which is called a lso contractual agreement and this contractual agreement lies between the parties who are joined together in doing the business. The joint venture has lots of o f benefits because it creates the synergy in company valuation. This is the purpose of doing the undertakings undertakings of company co mpany by the large company. It enhances e nhances the growth of company market share and utilizes the full resources that are remained unused.

Strategic Management Management 5.2 Failure Strategies of Nokia: Failure strategies are those strategies which fails the company co mpany to reach the target market. To reach the target markets there are lots of research researc h needs to accomplish because everything depend on customer satisfaction. s atisfaction.

5.3 Consolidation and Recovery Strategy: Consolidation and recovery strategies include an increase of company urgency that increase of company urgency needs to inspire of people and inspiration to move forward and to make goals realistic, accurate and relevant to company mission. Communication of buying indicates the communication by buying that basically involves many people according to the as many it is possible. Communication of buying also includes communication of the requirements and people's needs or

Strategic Management Management wants, Empowerment of action that exerts empowerment of action includes removal of obstacles, enabling of constructive and right way of accurate feedback and lots of justified supports are needed from leaders. So, for Short term success for long term goals includes setting of aim which is perfect and it helps in building of the guiding forums that manage team which is necessary to get the accurate and right people those who are really accepted by human resource reso urce manager, the right people should incorporate in place with necessary right and relevant re levant commitments to organization. organization.

Strategic Management Management 5.4 Inertia and Overcoming of Resistance: Basically inertia is the motion change that creates resistance physical objects. In case of Nokia, the inertia can come from high risk of diversified market. The aim of Nokia is to satisfy a broad and wide range of customers over o ver the world. And so by diversification of resource and investment Nokia can take a good opportunity to overcome the resistance. Nokia is becoming and continuing it¶s growing up of market and it is to bring an a n affordable and easy access to the communication of mobile. Nokia convention has been held basically to renew its commitment and given promises to its loyal customer. The consumers of Nokia are worldwide and it has great varieties of products in diversified market. Nokia Nokia is becoming beco ming and continuing it¶s growing up of market and it is to bring an affordable and easy access to the communication of mobile. There are hundreds of millions of people in the world using the Nokia as primary phone. Recently Nokia unveiled and released a new device and product for its customers, and of them Nokia N series ser ies products including including the Nokia N8 are high high demanded products. products. AT the very beginning of time and recently Nokia held a Convention Convention which is in Singapore. In In that convention Nokia renewed and rectified its commitment and promises of determination to serve and deliver the great deal of o f experiences to their customers with its new and latest range of products and promotions. N8 is high quality smart phone in the cell phone market. At that event of convention, co nvention, two new devices were announced by Nokia and these are the Nokia X6 8GB and the Nokia X5, in addition with this showcase of Nokia the gorgeous and high designed Nokia N8 was revealed for the first time in the market of cell phone basically for the region of its customer to the t he media and the analysts.

Strategic Management Management Current Situation of Nokia:

5.5 Suggested Strategy for Nokia: To improve the market situation Nokia needs to have some suggested strategies. Getting of the right and accurate company vision that can create a n opportunity for Nokia of getting of the right and accurate company co mpany vision is necessary to get the perfect team to implement and to get the t he reach of destination to a simple s imple organizational organizational vision that focus on strategy and strategically change of management for service excellence and management efficiency. Overall condition can be improved if Nokia takes the perfect decision in perfect time because timing is most important thing without which a market of product can fail to reach the customer.


Strategic Management Management 6.1 Conclusion: Finally, it can be conclude that the corporate strategies s trategies of Nokia depend on the management process of the company is currently facing some problems prob lems but it will take little time to overcome from that situation s ituation.. From the t he source of information Nokia has approximately 50% market share which are under control of Nokia Company. However, Nokia has great competitive advantage in the market because of its differentiation policy that is spread to worldwide. Among all smart phones Nokia N8 is one of the first smart phone which is a device for the people want to create and enjoy the contents of N series ser ies that are really amazing. Nokia can start the joint venture which has lots of benefits because it creates the synergy in company valuation. valuation. This is the purpose of doing the undertakings of company co mpany by the large company.


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Offic Official we l web b sit sit e of Nok Nok ia ( www. www.nok ia.com )

Strategic Management

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