Using further information from the Internet, write a brief account of how different elements of the temporal and competitive environments interact to influence the situation at Nokia. Case Study: Strategic Change at NokiaBased in Finland, Nokia transformed from being a diverse conglomerate intoa world-leading mobile phone producer in the 1990s. Since then, the company hasexperienced very tough operating conditions in the face of competition fromSamsung and products like the Apple iPhone. Substantial layoffs and plant closurestook place across the world as Nokia missed out on consumers who were turningto smartphones. By concentrating on mobile phones, Nokia also faced intensecompetition from large volume producers in China with lower cost structures.A new CEO was appointed from Microsoft in 2010 and he quickly sent amemo to all employees. The memo, rich in metaphor, became known as the'burning platform' memo and basically said that Nokia had missed out on some bigconsumer trends and was now years behind the market and, while that washappening, top managers in Nokia thought they were doing the right thing andmaking good decisions.The new CEO accused Nokia of lacking accountability and leadership, of notcollaborating enough internally and not innovating fast enough. He likened thesituation that the company faced with being on a burning oil platform, theimplication being that Nokia could stay where it is and perish in the flames, or jumpinto icy waters and have a chance of survival. Despite the new CEO's 'call to arms',market share, revenues, profits and share price continued to fall. In 2013, Microsoftpurchased Nokia's mobile phone business and the CEO moved to Microsoft as partof the deal. If Nokia continues to lose share in the market then the Finnish economywill suffer further. The company had helped put Finland on the map as atechnological leader and employer of a lot of people.

Nokia, a Finnish company, has undergone immense changes in the past decade, transforming from a…

Answered: Using further information from the…

Using further information from the Internet, write a brief account of how different elements of the temporal and competitive environments interact to influence the situation at Nokia.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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