A Strategic Analysis of Nokia 2023
Mariam Peyton is a professional Financial Analyst. She holds a Masters degree in Economics. She specialises in financial analysis and forecasting. Her expertise includes studying the financial performance of companies, markets and entire industries looking for trends, insights and information that can help you glean rich insights for use in academic and market research.
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This study investigates the various marketing strategies used by the Nokia Company and its historical development. This study is going to; Show the market size of the company and how it operates, discuss the company’s market environment, discuss how Nokia gains a competitive advantage over its competitors, examine the strategies, tactics, and innovations adopted by the Nokia Company, Analyse the impact of the external environment on the company.
The primary aim of the company is to build a brand image, much emphasis is also put on developing their technology and ensuring customer satisfaction. The company is also cautious about the responsibility it owes to society such as reducing pollution and waste that is emitted into the environment.
This report used a number of strategic tools including PESTLE, Porter's five forces, SWOT, VRIO, and the Value chain to examine the company’s internal and external environment. The report analyzes the company’s strategic positioning in the market and how it can be strengthened.
Some of the macro challenges faced by the company include the rapid changes in technology, the increasing competition from rivals, the regulatory uncertainties in different markets, and the impact of the COVID-19 pandemic on the global economy. Some of the micro-challenges include the decline in market share, the loss of key customers, the internal restructuring and layoffs, and the quality issues with some of its products. These challenges have affected Nokia's performance and reputation, and have posed significant risks for its future growth and profitability.
Key questions attempted in this analysis are; what is the strategy of Nokia company overview?
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A Strategic Analysis of Nokia 2023 Case Study
Key Learning Outcomes
By the end of the case, students should be able to:
- Use strategic tools including PESTLE, SWOT, Porters Five Forces, and VRIO to analyze a company's strategic position in the market and strategize on how to strengthen it
- Understand the broad macro-environment and how it affects the growth and performance of Nokia
- Understand how a company can use its resources and capabilities to strengthen its position in the market
1.0 INTRODUCTION
Nokia is a telecommunications company that was founded in 1865, dealing in the design, manufacture, and marketing of mobile phones headquartered in Espoo, Finland. It also specializes in network infrastructure, advanced technologies, and software services. The company also manufactures telecommunications network equipment for applications such as mobile and fixed-line voice telephony, Integrated Services Digital Network, and broadband access among others. The telecommunications giant was considered to be one of the leading telecom infrastructure companies. As of 2022, the company had an annual revenue of $26.21 billion and a market share of 15% in the service provider network infrastructure market.
In this strategic analysis, we will examine the Nokia company using frameworks such as PESTLE, SWOT, Porters Five Forces, VRIO, and generic competitive strategies, the report will undertake a strategic overview of Nokia, including its financial performance, competitive microenvironment, competitive advantage, technological improvement, pricing strategy, and many others.
The company faces several challenges and opportunities in the dynamic and competitive telecom market. Some of the challenges include the decline of its legacy network equipment business, the high costs of 5G deployment, and the regulatory uncertainties in some regions. Some of the opportunities include the growing demand for cloud-based services, the emergence of new technologies such as artificial intelligence and edge computing, and the potential for partnerships and acquisitions.
To address these challenges and opportunities, Nokia has adopted a strategic framework that consists of four pillars: customer focus, technology leadership, operational excellence, and responsible business. The company aims to deliver value to its customers by providing end-to-end solutions, enhancing customer experience, and expanding its market share. The company also strives to achieve technology leadership by investing in research and development, launching new products and services, and fostering a culture of innovation. Furthermore, the company pursues operational excellence by optimizing its cost structure, improving its cash flow, and streamlining its organizational structure. Finally, the company commits to responsible business by adhering to ethical standards, promoting sustainability, and supporting social causes.
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