STRATEGIC ANALYSIS

Nokia's Strategic Analysis and Planning



Nokia's Strategic Analysis and Planning

Introduction

There are a number of factors that affects the performance of a company, business or organization. Efficient employees, dynamic leadership and healthy working environment all contributes towards displaying a satisfactory performance. However, with globalization on the verge, there are certain trends and patterns that are practiced as a standard by all the organizations or companies throughout. However, with the constantly changing economic conditions, these strategic standards also vary accordingly. Hence, in order to enjoy an edge over all the local and international competitors, it is also very important for these companies to thoroughly analyze the current trends adapted by various other organizations in the market. Therefore, such analysis and their outcomes should play a significant role in the planning and modifying the strategy and policy making in various disciplines of a company. Hence, such analysis not just allows an organization for self evaluation as an independent organization. However, the analysis or study of such nature also provides an organization, an evaluation of its performance relative to other competitors in the market (Hamilton, 2009, pp. 36).

Discussion

Strategic Analysis can simply be defined as an analysis of the happenings and trends outside the organization in the market to propose affective policies for the future. The basic aim is to cater two areas that include the affects of the currently observed trends on the organization and how would an organization react to the resulting changes.

Therefore, the Strategic analysis plays an essential role in the strategic planning of the company. In fact, it will be fair to say that for every organization, the analysis is indeed the most essential preliminary step before strategic planning. Hence, businesses or companies of varying nature have adapted these practices. One of these fields includes the mobile/handset companies. Since the competition between the corporate giants and the relatively less successful brands in the mobile markets takes new turns every now and then (Lynch, 2006). Hence, in such a tough competitive market, all the individual names are constantly modifying their policies in accordance to compete with its rivals. One of the most leading names in the mobile manufacturing companies whose practices are closely observed by its competitors is Nokia.

Company's Background

Nokia Corporation is an IT corporation and Finnish multinational communications. With a global market share in the first quarter of around 22.5%, Nokia in the year 2012 was declared the world's second-largest handset manufacturer by unit sales. According to the Fortune Global 500, Nokia is the world's 143rd-largest company when measured by 2011 revenues (www.results.nokia.com). The company enjoyed the position of being the leading mobile manufacturer monopoly in the market. However, in the last five years, its competitors have managed to compete with Nokia up to an extent where the Company's long enjoyed strongest positions has started to shift towards various other competitors (news.bbc.co.uk). s



Choosing an Appropriate Geographical Location

The fact that its competitors have been able to divert the customer's attention from its handsets to several of its rivals, Nokia ...