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SWOT Analysis Of Nokia Add in library

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Question:

Describe about the SWOT Analysis of Nokia?
 
 

Answer:

Company profile

Nokia is a Finland based company which has its headquarters in Espoo, in Helsinki area. In the fields of advanced technologies, network infrastructure and location based technologies, Nokia is a forerunner. Today, the company has three leading business, HERE, Nokia networks and Nokia technologies. HERE is the focused on finding the location of places. Nokia Networks is the infrastructure business and the Nokia Technologies is focused with the development of technology and also intellectual property rights actions. The employee strength of the company is about 57000 people (Nokia.com, 2015). The company also indulges on research and development. The investment of the business in its three businesses in 2013 is EUR 2.5 million. Until recently, the company was in the market mobile devices. In the year 2013, September 2 the company went into an agreement with Microsoft. By the agreement, Nokia would sell the device and services business to Microsoft (Nokia, 2015). In 2014 April 25, the transaction of the agreement was completed. Nokia was purchased by Microsoft for a EUR 5.4 billion. The company is listed with the New York stock exchange and contributes to the economic growth of the country. The company has values which are designed to guide the decisions of the people working in the organization. the way the company works, their responsibilities and the way they deal with their customers and their responsibility toward the shareholders are highlighted in the values of Nokia. The employees of Nokia thus act, behave, think and communicate in such a way so that the values are reflected in their conduct. The four aspects that the company follows are Achievement, challenge, respect and renewal. Nokia has a policy to treat everyone with respect and also earn it from others. The company work together and deliver better-quality results. Moreover they invest to increase their skills as well as to develop the business.

Job title

Nokia is a company which is constantly innovating so as to retain its current market position. In Nokia I would like to join as R&D Engineer. The main responsibilities of a R&D engineer are to design, plan and to execute teams. Other responsibilities include consult, guide and support a team and also to share the knowledge of their expertise areas. Their work is to constantly do researches and innovate technologies which can be applied to make the products attractive. Moreover other areas of my work also include applying experience and knowledge in order to determine the root cause of a problem and to find their probable solutions.

 

SWOT analysis

Nokia was once the largest seller of mobile phones in the world. It was mainly due to its durability and reliability provided by its mobile phones (Fine, 2009). For many years the motto of Nokia was “connecting people”. But recently its handset division was acquired by Microsoft, the software giant (Makos, 2014). Then onwards, the company has launched several phones. The employees of Nokia also constantly upgrade and innovate themselves in order to keep up with the advancing technologies of today’s world.

Strength

  • The greatest strength of the company is its brand name. many people often choose the company’s product because of the durability, creativity and the reliability the brand offers.
  • More over the highly qualified team of R&D have recently merged with the team of Microsoft. So the equality of work has improved.
  • The products of the company are very easy and convenient to handle unlike products of other brands.
  • The R&D engineers have incorporated the latest technologies in producing slek designs and adding attractive features to the phones.
  • The parts and technologies used are of high quality which focuses on the fact that the company values its customers.
 

Weakness

  • One of the weaknesses of the company is that it took a lot of time to enter the Smartphone business. The company lost many of its loyal customers due to this reason.
  • The R&D team was not able to cater to the needs of the people. They were concentrated with producing phones which would attract the lower and middle class people. In this process they lost many customers when android and iOS entered the market.
  • The new android was much superior to the Nokia regular phones. To turn around the tide the company introduced the Windows phone in the Lumia range. But the initiative was much delayed.
  • The company has made a lower profit due to a drop in its sale. It was because other companies have already captured a lot of Nokia’s market.

Opportunity

  • The deal between Microsoft and Nokia was a benefit for both the companies. to grab great opportunities, the R&D division must utilize the available resources properly.
  • The next opportunity is to develop new products with attractive features. The application of Windows operating system in the phones will be a benefit for them.
  • The R&D engineers must develop new android operating systems to beat the growing competition and to capture the market once again
  • Nokia already has a market base. It is the work of the company to try and develop potential products according to the needs of the people.
 

Threat

  • The biggest threat of Nokia is the constant competition from the other smart phone companies.
  • The low cost mobile sets from china are another big threat
  • The incapability of the R&D team to foresee in the future can cause loss for the company as the company will not be able to update and innovate with the time.

Business strategy

Nokia was the market leader by 2003 in mobile phone division. It was much ahead of its competitors like Motorola, Samsung, and Ericson etc. since for a long time, the business strategy of Nokia was to lead the market in terms of product innovation. Nokia has a vast team of experienced employees to support its business and it constantly invest millions of dollars every year into R&D. currently Nokia has a business strategy to gain its market share by introducing new smart phones in the market. The main focus of the R&D team will be to develop better designs, which are lighter and slim. Moreover the software needs to be developed. Nokia has not even come up with good android software for its mobile. The R&D team must develop this to gain market accessibility (Hodge & Schachter, 2006). Long are the days gone when people would buy phones once every 5 years or even more. Thus they have to continuously bring newer designs in to the market according to the daily changing needs of the people.

 

Fit in the organization

Nokia takes a person’s career to a new height and to a new place. It provides an opportunity to work globally. Working in Nokia is always a benefit for me since Nokia has plans which support the healthcare services for the entire family when in need. The company is very innovative. They organize theme days and even fairs where external experts can share their ideas. Nokia is always open to ideas and innovations and their business is based on it. Since I am very innovative in my mind, I find my work to be very interesting (Nokia, 2015). They provide independence at work which allows us to develop things which the people will like. Moreover the company provides constant training to its employees to meet the daily challenges. I as an employee welcome all these as I look forward to any opportunity to constantly learn. The company even provides materials and tools that helps us to develop our career.

 

References

Fine, L. (2009). The SWOT analysis. [S.l.]: Kick It.

Hodge, R., & Schachter, L. (2006). The mind of the customer. New York: McGraw-Hill.

Makos, J. (2014). SWOT Analysis of NokiaPESTLE Analysis. Retrieved 16 February 2015, from https://pestleanalysis.com/swot-analysis-nokia/

Nokia,. (2015). Nokia. Retrieved 16 February 2015, from https://inventwithnokia.nokia.com/blog/what-is-invent-with-nokia

Nokia,. (2015). Our values. Retrieved 16 February 2015, from https://company.nokia.com/en/about-us/our-company/our-values

Nokia.com,. (2015). Nokia — Nokia – IN. Retrieved 16 February 2015, from https://www.nokia.com/in-en/selection/

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