I will begin my assignment by saying that my topic would be FINANCIAL ANALYSIS OF Nokia .First I will begin by writing the introduction part
For this assignment, I chose the company NOKIA. Now Nokia is a mobile telecommunications company, which offers far more than just mobile phones for day to day use. Nokia offers networking solutions for businesses that help businesses stay connected and communicate with each other at all times and places. Nokia also offers special mobile phones with exquisite and unique functions and options. In this project, first I will talk about what Nokia is and what they do. I will also mention their history, from where they started to where they are today. Vision, goals, and their strategy will also be stated by me, I will also mention about their wide range of products and services offered for the regular consumer, businesses, and service providers. Nokia’s success benefits are some advantages they have in the market. These include the advance technology and features, as well as services they offer to their consumers. However, like any other company, Nokia too has weaknesses, but these are minimal, and almost only come down to their competition. Lastly, I will talk about their informational business model. This model includes Nokia’s work organization, control system, industrial relations, human resources, business strategy, and finally, enterprise organization. We will look closely at and discuss all of these elements, and why we think that they are relevant to Nokia.
Nokia has recently undergone a major organizational restructure. As a result of this restructuring, Nokia has revised its goal, mission and strategy into clear and specific objectives. Nokia’s official website states, “Our goal is to be a good corporate citizen wherever we operate, as a responsible and contributing member of society. Long-term projects undertaken by Nokia are aimed at helping young people create their own place in the world, for example through our global youth programs.” They hope to fulfil their goal by following their mission statement that is, “By connecting people, we help fulfil a fundamental human need for social connections and contact. Nokia builds bridges between people – both when they are far apart and face-to-face – and also bridges the gap between people and the information they need.” Nokia plans to achieve its goal and pursue its mission by implementing its strategy of, “Expand mobile voice, drive consumer multimedia and bring extended mobility to enterprises.” There is wide range of products Nokia offers within a common product line. This common product line is cellular phones and accessories. Nokia offers many different cell phones with many different features. Nokia, however, is more than just a manufacturer. In addition to its manufacturing base, Nokia offers cellular phone and digital television service though in limited areas. It may seem that Nokia has a limited product line but when include with the research and development of these areas, their service and manufacturing portfolios become more impressive. As it can be assumed the cellular phone market is very lucrative. In 2003, according to The Journal.com, Nokia had sales of $37.1 billion and profit of $4.53 billion. This encompasses all revenue and profit areas, with a market share in the phone industry of nearly 35%. This market share has declined, at least in the first quarter of this year, to 29%. Rival phone manufacturers are stealing market share away from Nokia, while Nokia failed to meet the demand for its phones in the first quarter. More recent estimations of market share were not available as of November 2004. Technology is absolutely crucial to the prosperity of Nokia. Technology is what sets Nokia apart from its competitors. As a pioneer in the development of cell phone capabilities, Nokia uses cutting edge technology in mobile...
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