Before the turn of the millennium, Nokia Corporation (NOKIA) was the largest mobile phone manufacturer in the world. However, in the early 2000s, there was a massive revolution in the mobile phone market. This revolution was marked by the development of smartphones and touchscreen phones that Nokia was not producing because the management was sceptical of the new technology. Furthermore, the rise of Apple Inc. and Samsung into smartphone manufacturing led to the loss of Nokia's position as the mobile phone market leader. As a result, the company lost 90% of its market value in 2010 and never recovered until today. As the new CEO of NOKIA tasked to bring back the company's glory days, you do not want to repeat the mistake of previous management, who failed to adapt to the new trend and favoured a dictatorial rather than innovative culture. Therefore, propose SEVEN (7) strategies to cultivate an innovative culture in NOKIA to regain market value amid Apple Inc.'s and Samsung's dominance.
Before the turn of the millennium, Nokia Corporation (NOKIA) was the largest mobile phone manufacturer in the world. However, in the early 2000s, there was a massive revolution in the mobile phone market. This revolution was marked by the development of smartphones and touchscreen phones that Nokia was not producing because the management was sceptical of the new technology. Furthermore, the rise of Apple Inc. and Samsung into smartphone manufacturing led to the loss of Nokia's position as the mobile phone market leader. As a result, the company lost 90% of its market value in 2010 and never recovered until today. As the new CEO of NOKIA tasked to bring back the company's glory days, you do not want to repeat the mistake of previous management, who failed to adapt to the new trend and favoured a dictatorial rather than innovative culture. Therefore, propose SEVEN (7) strategies to cultivate an innovative culture in NOKIA to regain market value amid Apple Inc.'s and Samsung's dominance.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Before the turn of the millennium, Nokia Corporation (NOKIA) was the largest mobile phone
manufacturer in the world. However, in the early 2000s, there was a massive revolution in the
mobile phone market. This revolution was marked by the development of smartphones and
touchscreen phones that Nokia was not producing because the management was sceptical of
the new technology. Furthermore, the rise of Apple Inc. and Samsung into smartphone
manufacturing led to the loss of Nokia's position as the mobile phone market leader. As a result,
the company lost 90% of its market value in 2010 and never recovered until today.
As the new CEO of NOKIA tasked to bring back the company's glory days, you do not want
to repeat the mistake of previous management, who failed to adapt to the new trend and
favoured a dictatorial rather than innovative culture. Therefore, propose SEVEN (7) strategies
to cultivate an innovative culture in NOKIA to regain market value amid Apple Inc.'s and
Samsung's dominance.
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