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Compose a 2000 words assignment on a strategic exploration of nokia's success. Needs to be plagiarism free!
Compose a 2000 words assignment on a strategic exploration of nokia's success. Needs to be plagiarism free! The sales of Nokia products take place in around 150 countries. The company is the second-best producer of mobile phones and makes annual revenue of approximately thirty-eight billion pounds. The company’s market share is around 22.5 percent (Luo, 2000). One of the general environments that affect Nokia Company is international. This factor illustrates those events that are taking place in other foreign countries. The dimension of the international type of environment influences many other factors of the external environment of a company. These factors include the coming up of new customers, competitors, reliable suppliers, social shapes, trends of the economy and technology. Nokia Company has an obligation to compete with other companies globally. Samsung Company is one of the competitors that have outweighed Nokia Corporation from being the best vendor as from the year 1998 to the year 2012. The coming up of smartphones which are made by other vendors has reduced the market share of Nokia Corporation. To solve this problem, the company made a strategy to collaborate with Microsoft Company so that the mobile phones (smart phones) produced will have an operating system incorporated by Microsoft’s phone type of windows (Mimoun, 2009). Coming up of cheap but high-quality mobile phones from countries such as India and Korea has greatly affected the industry of mobile phones.
In case the company does not lower its prices, then it has to increase the features of its products. Comprehensively, when similar products from different companies have varying costs in that one company sells at a lower price, and the other one sells at a higher price, the one with the lower price will be the consumer's preference and choice. Therefore, Nokia Company must do something worth either by decreasing the prices of its products or improve the quality of mobile phones (Steinbock, 2010). This will help the corporation increase its share in the market. Another general factor of the environment that affects Nokia is technology. Technology is one of the most developing things in the world. Several companies are coming up with new, innovated technology in the industry. Coming up of newer phones with a high level of technology, affects the industry greatly. Nokia Corporation has to ensure that it involves many innovations and advancements of technology, by embracing any change to ensure that the products are on the same level as the technological growth. Many companies have come up with better-advanced technology level. These companies include Samsung and other producers of smartphones. Therefore, if Nokia will not be more creative and strategically improve the technology of its products, it will lose to its competitors (Daft & Marcic, 2010). In every business, there are major internal factors that affect it either positively or negatively. These factors are those that are within the organization itself. Capital is one of the factors that affect Nokia. For the corporation to do innovation and advance technology, it requires large amounts of capital. Fixing new soft wares and features in mobile .phones is an expensive task for the company.