Sustainable innovation- Nokia case study
The technology offers a promise of a better world through the improvements in standards of living. On the other hand, resource extraction, emissions of dangerous materials, and pollution of air, water, and soil have created conditions for environmental catastrophe and have already caused irreversible damage to the Earth. That is why in last few years, companies started focusing on an eco-innovation. Eco-innovation is the development of products and processes that contribute to sustainable development, applying the commercial application of knowledge to elicit direct or indirect ecological improvements. This includes a range of related ideas, from environmentally friendly technological advances to socially acceptable innovative paths towards sustainability (http://en.wikipedia.org/wiki/Eco-innovation). Sustainability can be defined in a variety of ways. The short definition created in 1983 by a UN commission is: “Meeting the needs of the present without compromising the ability of future generations to meet their own needs” (http://www.un.org/en/sustainability/index.shtml). The European Union adopted action plans to promote technologies that use less environmentally harmful alternatives. For example, the EU has passed laws requiring energy-using products, such as electrical and electronic devices and heating equipment, to be designed to be more energy-efficient (EPEAT). The Waste Electrical and Electronic Equipment Directive (WEEE) imposes the responsibility for the disposal of waste electrical and electronic equipment on the manufacturers. The Energy using Products (EuP) Directive, sets requirements to reduce the environmental impact of products that use electricity across their entire lifecycle. REACH is a recent European Community Regulation on chemicals and their safe use through better and earlier identification of the intrinsic properties of chemical substances, especially those containing more than agreed-upon levels of lead, cadmium, mercury, chromium (VI), polybrominated biphenyl (PBB) and polybrominated diphenyl ether (PBDE) flame retardants. Nokia Corporation is a Finnish multinational communications and information technology corporation. Its principal products are mobile telephones and portable IT devices. It also offers Internet services including applications, games, music, media and messaging, and free-of-charge digital map information and navigation services through its wholly owned subsidiary Navteq. Nokia has around 101,982 employees across 120 countries, sales in more than 150 countries and annual revenues of around €30 billion. It is the world's second-largest mobile phone maker by 2012 unit sales with a global market share of 22.5% in the first quarter of that year. Nokia was the world's largest vendor of mobile phones from 1998 to 2012. However, over the past five years it has suffered a declining market share as a result of the growing use of smartphones from other vendors, and devices running on Android operating system. As a result, its share price has fallen from a high of US$40 in late 2007 to under US$2 in mid-2012. Since February 2011, Nokia has had a strategic partnership with Microsoft, as part of which all Nokia smartphones will incorporate Microsoft's Windows Phone operating system. Its first handsets were released in October that year (http://en.wikipedia.org/wiki/Nokia).
Purpose and Mission
Nokia’s mission is simple: Connecting People. The goal of Nokia company is to create mobile products that allow people worldwide to enjoy the technology. The key elements of Nokia strategy are: * building a new winning mobile ecosystem in partnership with Microsoft * bringing the next billion online in developing growth markets * investing in next-generation disruptive technologies
* increasing our focus on speed, results and accountability...