Nokia's Corporate Culture Challenge
What are the corporate culture challenges along with other challenges that Nokia face in keeping up with other competitor in the market? Introduction to the Nokia Corporation:
The Nokia Corporation is a multinational telecommunication Phone Company that locates its headquarters in Finland. The company is involved in the manufacturing of mobile phones in conjunction with Internet and communications service providers, having more than 130, 000 employees in 120 countries, with sales in over 160 countries and an annual global income of €42.4 billion as of 2010. Nokia is the world's leading manufacturer of mobile phones having a global market share of 38% in the third quarter of 2010, however, shares dropping to 31% in the fourth quarter of 2010 and further down to 22.8% in the second quarter of 2011. Nokia is the largest Finnish company, stands exigent in Finland's economy, and also serves as a crucial employer in Finland, having solely increased the GDP of Finland by 1.5% in 1999, responsible for nearly a quarter of Finland's exports in 2003 and accounting a share of 3.5% of Finland's GDP in 2004. Nokia (Corporate Culture):
Rules and Regulations, working styles, values, beliefs, behavior and shared knowledge that are incorporated in a working environment is known as corporate culture. Inspirational and strong corporate cultures work on innovative ideas along with catering to changing consumer tastes and expectations. Forming a corporate culture is a slow procedure and begins from the leader of the organization. The Nokia Corporation has been operating for more than a hundred years, achieving the tag of being one of the most thriving manufacturers of mobile phones. However, recently, Nokia has experienced downfall in market share, the root cause of this being that Nokia's old culture has not changed with time. With Nokia's wide range of products, it is difficult to believe that the company is...
Please join StudyMode to read the full document