finland and nokia case study analysis

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Finland and Nokia: Creating the World's Most Competitive Economy

By: Michael E. Porter, Orjan Solvell

Finland, with a special language and culture, has developed as a country in between the west (the Nordic region and Europe) and the east (especially its neighbor Russia). In the 1980s, a process…

• Length: 23 page(s)
• Publication Date: Jan 25, 2002
• Discipline: Strategy
• Product #: 702427-PDF-ENG

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Finland, with a special language and culture, has developed as a country in between the west (the Nordic region and Europe) and the east (especially its neighbor Russia). In the 1980s, a process started of moving out of an investment-driven economy into an innovation-driven one. With the collapse of the Soviet Union around 1990, Finland reached a crisis. This case covers policy changes made in the 1990s and how, by 2002, the country had managed to become one of the most competitive in the world. A large part of the success could be attributed to the dynamic telecommunications cluster--especially Nokia, accounting for some 70% to 80% of the cluster exports and the world leader in mobile phones. Nokia also reached a crisis around 1990.

Learning Objectives

To illustrate both the success of a nation, a cluster within a nation, and an individual firm using the following models: industry analysis (five force model); strategy (positioning, fit, activities); diamond model; cluster model; and policy at a national scale. What did Finland do? What is the role of a big crisis in a nation and in a firm? How important is Finland to Nokia? And how important is Nokia to Finland?

Jan 25, 2002 (Revised: Mar 7, 2011)

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Case Study 4: The Collapse of Nokia’s Mobile Phone Business

• First Online: 30 July 2018

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• Tuomo Peltonen 2  

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This chapter provides a wisdom-oriented reading of one of the most spectacular business failures of recent times: the collapse of Nokia mobile phones between 2007 and 2015. Using executive biographies and other published accounts of Nokia’s organisational patterns, the chapter attempts to offer a more balanced explanation of the processes behind Nokia’s inability to respond to the changing industry circumstances. The following analysis pays attention to the shaping of Nokia’s organisational culture. Company and its new leadership adopted a professional, no-nonsense approach in the aftermath of the problems of the late 1980s and early 1990s. The new generation of managers believed in a rational mindset supported by a bureaucratic organisational form. Leaning on a superior technological competence within the mobile phone sector, Nokia was capable of ultimately becoming the market leader. However, in 2007, with two major players, Apple and Google, joining the business, the established rules of competitive dynamics were irrevocably changed. Focus shifted to software and applications. Nokia’s risk-aversive and closed organisational culture could not respond in a situation where an open search for new innovations and a cooperative internal working mode were needed. An analysis of the development of Nokia’s organisational psyche following the emergence of a new generation of managers and executives highlights the role of local beliefs in using philosophical wisdom in critical circumstances. Nokia and its leadership were not able to abandon the outmoded habits and structures, as these had become integrated with the very identity of the company.

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Peltonen, T. (2019). Case Study 4: The Collapse of Nokia’s Mobile Phone Business. In: Towards Wise Management. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-91719-1_6

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Finland, with a special language and culture, has developed as a country in between the west (the Nordic region and Europe) and the east (especially its neighbor Russia). In the 1980s, a process started of moving out of an investment-driven economy into an innovation-driven one. With the collapse of the Soviet Union around 1990, Finland reached a crisis. This case covers policy changes made in the 1990s and how, by 2002, the country had managed to become one of the most competitive in the world. A large part of the success could be attributed to the dynamic telecommunications cluster--especially Nokia, accounting for some 70% to 80% of the cluster exports and the world leader in mobile phones. Nokia also reached a crisis around 1990.

Economic development, Policy

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• HBR case studies provide anecdotal instances from managers and employees in the organization to give a feel of real situation on the ground. Use these instances and opinions to mark out the organization's culture, its people priorities & inhibitions.
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• SWOT analysis and SWOT Matrix will help you to clearly mark out - Strengths Weakness Opportunities & Threats that the organization or manager is facing in the Finland and Nokia: Creating the World's Most Competitive Economy
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Another way of understanding the external environment of the firm in Finland and Nokia: Creating the World's Most Competitive Economy is to do a PESTEL - Political, Economic, Social, Technological, Environmental & Legal analysis of the environment the firm operates in. You should make a list of factors that have significant impact on the organization and factors that drive growth in the industry. You can even identify the source of firm's competitive advantage based on PESTEL analysis and Organization's Core Competencies.

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Finland and Nokia: Creating the Worlds Most Competitive Economy

Subjects Covered Competition Economic development Economic policy Economy

by Michael E. Porter, Orjan Solvell

Source: Harvard Business School

23 pages. Publication Date: Jan 25, 2002. Prod. #: 702427-PDF-ENG

Finland and Nokia: Creating the World’s Most Competitive Economy Harvard Case Study Solution and HBR and HBS Case Analysis

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Finland and Nokia Creating the World s Most Competitive Economy Case Analysis and Case Solution

Posted by Peter Williams on Aug-09-2018

Introduction of Finland and Nokia Creating the World s Most Competitive Economy Case Solution

The Finland and Nokia Creating the World s Most Competitive Economy case study is a Harvard Business Review case study, which presents a simulated practical experience to the reader allowing them to learn about real life problems in the business world. The Finland and Nokia Creating the World s Most Competitive Economy case consisted of a central issue to the organization, which had to be identified, analysed and creative solutions had to be drawn to tackle the issue. This paper presents the solved Finland and Nokia Creating the World s Most Competitive Economy case analysis and case solution. The method through which the analysis is done is mentioned, followed by the relevant tools used in finding the solution.

The case solution first identifies the central issue to the Finland and Nokia Creating the World s Most Competitive Economy case study, and the relevant stakeholders affected by this issue. This is known as the problem identification stage. After this, the relevant tools and models are used, which help in the case study analysis and case study solution. The tools used in identifying the solution consist of the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis. The solution consists of recommended strategies to overcome this central issue. It is a good idea to also propose alternative case study solutions, because if the main solution is not found feasible, then the alternative solutions could be implemented. Lastly, a good case study solution also includes an implementation plan for the recommendation strategies. This shows how through a step-by-step procedure as to how the central issue can be resolved.

Problem Identification of Finland and Nokia Creating the World s Most Competitive Economy Case Solution

Harvard Business Review cases involve a central problem that is being faced by the organization and these problems affect a number of stakeholders. In the problem identification stage, the problem faced by Finland and Nokia Creating the World s Most Competitive Economy is identified through reading of the case. This could be mentioned at the start of the reading, the middle or the end. At times in a case analysis, the problem may be clearly evident in the reading of the HBR case. At other times, finding the issue is the job of the person analysing the case. It is also important to understand what stakeholders are affected by the problem and how. The goals of the stakeholders and are the organization are also identified to ensure that the case study analysis are consistent with these.

Analysis of the Finland and Nokia Creating the World s Most Competitive Economy HBR Case Study

The objective of the case should be focused on. This is doing the Finland and Nokia Creating the World s Most Competitive Economy Case Solution. This analysis can be proceeded in a step-by-step procedure to ensure that effective solutions are found.

• In the first step, a growth path of the company can be formulated that lays down its vision, mission and strategic aims. These can usually be developed using the company history is provided in the case. Company history is helpful in a Business Case study as it helps one understand what the scope of the solutions will be for the case study.
• The next step is of understanding the company; its people, their priorities and the overall culture. This can be done by using company history. It can also be done by looking at anecdotal instances of managers or employees that are usually included in an HBR case study description to give the reader a real feel of the situation.
• Lastly, a timeline of the issues and events in the case needs to be made. Arranging events in a timeline allows one to predict the next few events that are likely to take place. It also helps one in developing the case study solutions. The timeline also helps in understanding the continuous challenges that are being faced by the organisation.

SWOT analysis of Finland and Nokia Creating the World s Most Competitive Economy

An important tool that helps in addressing the central issue of the case and coming up with Finland and Nokia Creating the World s Most Competitive Economy HBR case solution is the SWOT analysis.

• The SWOT analysis is a strategic management tool that lists down in the form of a matrix, an organisation's internal strengths and weaknesses, and external opportunities and threats. It helps in the strategic analysis of Finland and Nokia Creating the World s Most Competitive Economy.
• Once this listing has been done, a clearer picture can be developed in regards to how strategies will be formed to address the main problem. For example, strengths will be used as an advantage in solving the issue.

Therefore, the SWOT analysis is a helpful tool in coming up with the Finland and Nokia Creating the World s Most Competitive Economy Case Study answers. One does not need to remain restricted to using the traditional SWOT analysis, but the advanced TOWS matrix or weighted average SWOT analysis can also be used.

Porter Five Forces Analysis for Finland and Nokia Creating the World s Most Competitive Economy

Another helpful tool in finding the case solutions is of Porter's Five Forces analysis. This is also a strategic tool that is used to analyse the competitive environment of the industry in which Finland and Nokia Creating the World s Most Competitive Economy operates in. Analysis of the industry is important as businesses do not work in isolation in real life, but are affected by the business environment of the industry that they operate in. Harvard Business case studies represent real-life situations, and therefore, an analysis of the industry's competitive environment needs to be carried out to come up with more holistic case study solutions. In Porter's Five Forces analysis, the industry is analysed along 5 dimensions.

• These are the threats that the industry faces due to new entrants.
• It includes the threat of substitute products.
• It includes the bargaining power of buyers in the industry.
• It includes the bargaining power of suppliers in an industry.
• Lastly, the overall rivalry or competition within the industry is analysed.

This tool helps one understand the relative powers of the major players in the industry and its overall competitive dynamics. Actionable and practical solutions can then be developed by keeping these factors into perspective.

PESTEL Analysis of Finland and Nokia Creating the World s Most Competitive Economy

Another helpful tool that should be used in finding the case study solutions is the PESTEL analysis. This also looks at the external business environment of the organisation helps in finding case study Analysis to real-life business issues as in HBR cases.

• The PESTEL analysis particularly looks at the macro environmental factors that affect the industry. These are the political, environmental, social, technological, environmental and legal (regulatory) factors affecting the industry.
• Factors within each of these 6 should be listed down, and analysis should be made as to how these affect the organisation under question.
• These factors are also responsible for the future growth and challenges within the industry. Hence, they should be taken into consideration when coming up with the Finland and Nokia Creating the World s Most Competitive Economy case solution.

VRIO Analysis of Finland and Nokia Creating the World s Most Competitive Economy

This is an analysis carried out to know about the internal strengths and capabilities of Finland and Nokia Creating the World s Most Competitive Economy. Under the VRIO analysis, the following steps are carried out:

• The internal resources of Finland and Nokia Creating the World s Most Competitive Economy are listed down.
• Each of these resources are assessed in terms of the value it brings to the organization.
• Each resource is assessed in terms of how rare it is. A rare resource is one that is not commonly used by competitors.
• Each resource is assessed whether it could be imitated by competition easily or not.
• Lastly, each resource is assessed in terms of whether the organization can use it to an advantage or not.

The analysis done on the 4 dimensions; Value, Rareness, Imitability, and Organization. If a resource is high on all of these 4, then it brings long-term competitive advantage. If a resource is high on Value, Rareness, and Imitability, then it brings an unused competitive advantage. If a resource is high on Value and Rareness, then it only brings temporary competitive advantage. If a resource is only valuable, then it’s a competitive parity. If it’s none, then it can be regarded as a competitive disadvantage.

Value Chain Analysis of Finland and Nokia Creating the World s Most Competitive Economy

The Value chain analysis of Finland and Nokia Creating the World s Most Competitive Economy helps in identifying the activities of an organization, and how these add value in terms of cost reduction and differentiation. This tool is used in the case study analysis as follows:

• The firm’s primary and support activities are listed down.
• Identifying the importance of these activities in the cost of the product and the differentiation they produce.
• Lastly, differentiation or cost reduction strategies are to be used for each of these activities to increase the overall value provided by these activities.

Recognizing value creating activities and enhancing the value that they create allow Finland and Nokia Creating the World s Most Competitive Economy to increase its competitive advantage.

BCG Matrix of Finland and Nokia Creating the World s Most Competitive Economy

The BCG Matrix is an important tool in deciding whether an organization should invest or divest in its strategic business units. The matrix involves placing the strategic business units of a business in one of four categories; question marks, stars, dogs and cash cows. The placement in these categories depends on the relative market share of the organization and the market growth of these strategic business units. The steps to be followed in this analysis is as follows:

• Identify the relative market share of each strategic business unit.
• Identify the market growth of each strategic business unit.
• Place these strategic business units in one of four categories. Question Marks are those strategic business units with high market share and low market growth rate. Stars are those strategic business units with high market share and high market growth rate. Cash Cows are those strategic business units with high market share and low market growth rate. Dogs are those strategic business units with low market share and low growth rate.
• Relevant strategies should be implemented for each strategic business unit depending on its position in the matrix.

The strategies identified from the Finland and Nokia Creating the World s Most Competitive Economy BCG matrix and included in the case pdf. These are either to further develop the product, penetrate the market, develop the market, diversification, investing or divesting.

Ansoff Matrix of Finland and Nokia Creating the World s Most Competitive Economy

Ansoff Matrix is an important strategic tool to come up with future strategies for Finland and Nokia Creating the World s Most Competitive Economy in the case solution. It helps decide whether an organization should pursue future expansion in new markets and products or should it focus on existing markets and products.

• The organization can penetrate into existing markets with its existing products. This is known as market penetration strategy.
• The organization can develop new products for the existing market. This is known as product development strategy.
• The organization can enter new markets with its existing products. This is known as market development strategy.
• The organization can enter into new markets with new products. This is known as a diversification strategy.

The choice of strategy depends on the analysis of the previous tools used and the level of risk the organization is willing to take.

Marketing Mix of Finland and Nokia Creating the World s Most Competitive Economy

Finland and Nokia Creating the World s Most Competitive Economy needs to bring out certain responses from the market that it targets. To do so, it will need to use the marketing mix, which serves as a tool in helping bring out responses from the market. The 4 elements of the marketing mix are Product, Price, Place and Promotions. The following steps are required to carry out a marketing mix analysis and include this in the case study analysis.

• Analyse the company’s products and devise strategies to improve the product offering of the company.
• Analyse the company’s price points and devise strategies that could be based on competition, value or cost.
• Analyse the company’s promotion mix. This includes the advertisement, public relations, personal selling, sales promotion, and direct marketing. Strategies will be devised which makes use of a few or all of these elements.
• Analyse the company’s distribution and reach. Strategies can be devised to improve the availability of the company’s products.

Finland and Nokia Creating the World s Most Competitive Economy Blue Ocean Strategy

The strategies devised and included in the Finland and Nokia Creating the World s Most Competitive Economy case memo should have a blue ocean strategy. A blue ocean strategy is a strategy that involves firms seeking uncontested market spaces, which makes the competition of the company irrelevant. It involves coming up with new and unique products or ideas through innovation. This gives the organization a competitive advantage over other firms, unlike a red ocean strategy.

Competitors analysis of Finland and Nokia Creating the World s Most Competitive Economy

The PESTEL analysis discussed previously looked at the macro environmental factors affecting business, but not the microenvironmental factors. One of the microenvironmental factors are competitors, which are addressed by a competitor analysis. The Competitors analysis of Finland and Nokia Creating the World s Most Competitive Economy looks at the direct and indirect competitors within the industry that it operates in.

• This involves a detailed analysis of their actions and how these would affect the future strategies of Finland and Nokia Creating the World s Most Competitive Economy.
• It involves looking at the current market share of the company and its competitors.
• It should compare the marketing mix elements of competitors, their supply chain, human resources, financial strength etc.
• It also should look at the potential opportunities and threats that these competitors pose on the company.

Organisation of the Analysis into Finland and Nokia Creating the World s Most Competitive Economy Case Study Solution

Once various tools have been used to analyse the case, the findings of this analysis need to be incorporated into practical and actionable solutions. These solutions will also be the Finland and Nokia Creating the World s Most Competitive Economy case answers. These are usually in the form of strategies that the organisation can adopt. The following step-by-step procedure can be used to organise the Harvard Business case solution and recommendations:

• The first step of the solution is to come up with a corporate level strategy for the organisation. This part consists of solutions that address issues faced by the organisation on a strategic level. This could include suggestions, changes or recommendations to the company's vision, mission and its strategic objectives. It can include recommendations on how the organisation can work towards achieving these strategic objectives. Furthermore, it needs to be explained how the stated recommendations will help in solving the main issue mentioned in the case and where the company will stand in the future as a result of these.
• The second step of the solution is to come up with a business level strategy. The HBR case studies may present issues faced by a part of the organisation. For example, the issues may be stated for marketing and the role of a marketing manager needs to be assumed. So, recommendations and suggestions need to address the strategy of the marketing department in this case. Therefore, the strategic objectives of this business unit (Marketing) will be laid down in the solutions and recommendations will be made as to how to achieve these objectives. Similar would be the case for any other business unit or department such as human resources, finance, IT etc. The important thing to note here is that the business level strategy needs to be aligned with the overall corporate strategy of the organisation. For example, if one suggests the organisation to focus on differentiation for competitive advantage as a corporate level strategy, then it can't be recommended for the Finland and Nokia Creating the World s Most Competitive Economy Case Study Solution that the business unit should focus on costs.
• The third step is not compulsory but depends from case to case. In some HBR case studies, one may be required to analyse an issue at a department. This issue may be analysed for a manager or employee as well. In these cases, recommendations need to be made for these people. The solution may state that objectives that these people need to achieve and how these objectives would be achieved.

The case study analysis and solution, and Finland and Nokia Creating the World s Most Competitive Economy case answers should be written down in the Finland and Nokia Creating the World s Most Competitive Economy case memo, clearly identifying which part shows what. The Finland and Nokia Creating the World s Most Competitive Economy case should be in a professional format, presenting points clearly that are well understood by the reader.

Alternate solution to the Finland and Nokia Creating the World s Most Competitive Economy HBR case study

It is important to have more than one solution to the case study. This is the alternate solution that would be implemented if the original proposed solution is found infeasible or impossible due to a change in circumstances. The alternate solution for Finland and Nokia Creating the World s Most Competitive Economy is presented in the same way as the original solution, where it consists of a corporate level strategy, business level strategy and other recommendations.

Implementation of Finland and Nokia Creating the World s Most Competitive Economy Case Solution

The case study does not end at just providing recommendations to the issues at hand. One is also required to provide how these recommendations would be implemented. This is shown through a proper implementation framework. A detailed implementation framework helps in distinguishing between an average and an above average case study answer. A good implementation framework shows the proposed plan and how the organisations' resources would be used to achieve the objectives. It also lays down the changes needed to be made as well as the assumptions in the process.

• A proper implementation framework shows that one has clearly understood the case study and the main issue within it.
• It shows that one has been clarified with the HBR fundamentals on the topic.
• It shows that the details provided in the case have been properly analysed.
• It shows that one has developed an ability to prioritise recommendations and how these could be successfully implemented.
• The implementation framework also helps by removing out any recommendations that are not practical or actionable as these could not be implemented. Therefore, the implementation framework ensures that the solution to the Finland and Nokia Creating the World s Most Competitive Economy Harvard case is complete and properly answered.

Recommendations and Action Plan for Finland and Nokia Creating the World s Most Competitive Economy case analysis

For Finland and Nokia Creating the World s Most Competitive Economy, based on the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis, the recommendations and action plan are as follows:

• Finland and Nokia Creating the World s Most Competitive Economy should focus on making use of its strengths identified from the VRIO analysis to make the most of the opportunities identified from the PESTEL.
• Finland and Nokia Creating the World s Most Competitive Economy should enhance the value creating activities within its value chain.
• Finland and Nokia Creating the World s Most Competitive Economy should invest in its stars and cash cows, while getting rid of the dogs identified from the BCG Matrix analysis.
• To achieve its overall corporate and business level objectives, it should make use of the marketing mix tools to obtain desired results from its target market.

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Hussain, S., Khattak, J., Rizwan, A., & Latif, M. A. (2013). ANSOFF matrix, environment, and growth-an interactive triangle. Management and Administrative Sciences Review, 2(2), 196-206.

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Rastogi, N., & Trivedi, M. K. (2016). PESTLE Technique–a Tool to Identify External Risks in Construction Projects. International Research Journal of Engineering and Technology (IRJET), 3(1), 384-388.

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Nokia Case Analysis

Nokia Corporation is a Finnish multinational telecommunications, information technology, and consumer electronics company, founded in 1865. Nokia’s headquarters are in Espoo, in the greater Helsinki metropolitan area. In 2017, Nokia employed approximately 102,000 people across over 100 countries, did business in more than 130 countries, and reported annual revenues of around €23 billion. Nokia is a public limited company listed on the Helsinki Stock Exchange and New York Stock Exchange. It is the world’s 415th-largest company measured by 2016 revenues according to the Fortune Global 500, having peaked at 85th place in 2009. It is a component of the Euro Stoxx 50 stock market index.

The company has had various industries in over 150 years. It was founded as a pulp mill and had long been associated with rubber and cables, but since the 1990s focuses on large-scale telecommunications infrastructures, technology development, and licensing. Nokia is a notable major contributor to the mobile telephony industry, having assisted in the development of the GSM, 3G and LTE standards (and currently in 5G), and is best known for having been the largest worldwide vendor of mobile phones and smartphones for a period. After a partnership with Microsoft and market struggles, its mobile phone business was eventually bought by the former, creating Microsoft Mobile as its successor in 2014. After the sale, Nokia began to focus more extensively on its telecommunications infrastructure business and on the Internet of things, marked by the divestiture of its Here mapping division and the acquisition of Alcatel-Lucent, including its Bell Labs research organization. The company then also experimented with virtual reality and digital health, the latter through the purchase of Withings. The Nokia brand has since returned to the mobile and smartphone market through a licensing arrangement with HMD Global. Nokia continues to be a major patent licensor for most large mobile phone vendors. As of 2018 Nokia is the world’s third largest network equipment manufacturer.

The company was viewed with national pride by Finns, as its successful mobile phone business made it by far the largest worldwide company and brand from Finland. At its peak in 2000, during the telecoms bubble, Nokia alone accounted for 4% of the country’s GDP, 21% of total exports, and 70% of the Helsinki Stock Exchange market capital.

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Finland And Nokia Creating The World's Most Competitive Economy Case Study Solution Analysis

by HBR Sixty Four

Finland And Nokia Creating The World's Most Competitive Economy Case Study Solution Analysis. Get Finland And Nokia Creating The World's Most Competitive Economy Case Study Analysis Solution. Contact us directly at buycasesolutions(at)gmail(dot)com if you... More

Finland And Nokia Creating The World's Most Competitive Economy Case Study Solution Analysis. Get Finland And Nokia Creating The World's Most Competitive Economy Case Study Analysis Solution. Contact us directly at buycasesolutions(at)gmail(dot)com if you want to order for Finland And Nokia Creating The World's Most Competitive Economy Case Solution, Case Analysis, Case Study Solution. Michael E. Porter, Orjan Solvell Less

Email us for Any Case Solution at: [email protected] Finland and Nokia Creating the World’s Most Competitive Economy Case Study Solution Analysis Finland and Nokia Creating the World’s Most Competitive Economy Case Study Solution Analysis. Our tutors are available 24/7 to assist in your academic stuff, Our Professional writers are ready to serve you in services you need. Every Case Study Solution & Analysis is prepared from scratch, top quality, plagiarism free. Authors: Michael E. Porter, Orjan Solvell Get Case Study Solution and Analysis of Finland and Nokia Creating the World’s Most Competitive Economy in a FAIR PRICE!! Steps for Case Study Solution Analysis: 1. Introduction of Finland and Nokia Creating the World’s Most Competitive Economy Case Solution The Finland and Nokia Creating the World’s Most Competitive Economy case study is a Harvard Business Review case study, which presents a simulated practical experience to the reader allowing them to learn about real life problems in the business world. The Finland and Nokia Creating the World’s Most Competitive Economy case consisted of a central issue to the organization, which had to be identified, analysed and creative solutions had to be drawn to tackle the issue. This paper presents the solved Finland and Nokia Creating the World’s Most Competitive Economy case analysis and case solution. The method through which the analysis is done is mentioned, followed by the relevant tools used in finding the solution. The case solution first identifies the central issue to the Finland and Nokia Creating the World’s Most Competitive Economy case study, and the relevant stakeholders affected by this issue. This is known as the problem identification stage. After this, the relevant tools and models are used, which help in the case study analysis and case study solution. The tools used in identifying the solution consist of the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis. The solution consists of recommended strategies to overcome this central Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] issue. It is a good idea to also propose alternative case study solutions, because if the main solution is not found feasible, then the alternative solutions could be implemented. Lastly, a good case study solution also includes an implementation plan for the recommendation strategies. This shows how through a step-by-step procedure as to how the central issue can be resolved. 2. Problem Identification of Finland and Nokia Creating the World’s Most Competitive Economy Case Solution Harvard Business Review cases involve a central problem that is being faced by the organization and these problems affect a number of stakeholders. In the problem identification stage, the problem faced by Finland and Nokia Creating the World’s Most Competitive Economy is identified through reading of the case. This could be mentioned at the start of the reading, the middle or the end. At times in a case analysis, the problem may be clearly evident in the reading of the HBR case. At other times, finding the issue is the job of the person analysing the case. It is also important to understand what stakeholders are affected by the problem and how. The goals of the stakeholders and are the organization are also identified to ensure that the case study analysis are consistent with these. 3. Analysis of the Finland and Nokia Creating the World’s Most Competitive Economy HBR Case Study The objective of the case should be focused on. This is doing the Finland and Nokia Creating the World’s Most Competitive Economy Case Solution. This analysis can be proceeded in a step-by-step procedure to ensure that effective solutions are found. In the first step, a growth path of the company can be formulated that lays down its vision, mission and strategic aims. These can usually be developed using the company history is provided in the case. Company history is helpful in a Business Case study as it helps one understand what the scope of the solutions will be for the case study. The next step is of understanding the company; its people, their priorities and the overall culture. This can be done by using company history. It can also be done by looking at anecdotal instances of managers or employees that are usually included in an HBR case study description to give the reader a real feel of the situation. Lastly, a timeline of the issues and events in the case needs to be made. Arranging events in a timeline allows one to predict the next few events that are likely to take place. It also helps one in developing the case study solutions. The timeline also Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] helps in understanding the continuous challenges that are being faced by the organisation. 4. SWOT analysis of Finland and Nokia Creating the World’s Most Competitive Economy An important tool that helps in addressing the central issue of the case and coming up with Finland and Nokia Creating the World’s Most Competitive Economy HBR case solution is the SWOT analysis. The SWOT analysis is a strategic management tool that lists down in the form of a matrix, an organisation's internal strengths and weaknesses, and external opportunities and threats. It helps in the strategic analysis of Finland and Nokia Creating the World’s Most Competitive Economy Once this listing has been done, a clearer picture can be developed in regards to how strategies will be formed to address the main problem. For example, strengths will be used as an advantage in solving the issue. Therefore, the SWOT analysis is a helpful tool in coming up with the Finland and Nokia Creating the World’s Most Competitive Economy Case Study answers. One does not need to remain restricted to using the traditional SWOT analysis, but the advanced TOWS matrix or weighted average SWOT analysis can also be used. 5. Porter Five Forces Analysis for Finland and Nokia Creating the World’s Most Competitive Economy Another helpful tool in finding the case solutions is of Porter's Five Forces analysis. This is also a strategic tool that is used to analyse the competitive environment of the industry in which Finland and Nokia Creating the World’s Most Competitive Economy operates in. Analysis of the industry is important as businesses do not work in isolation in real life, but are affected by the business environment of the industry that they operate in. Harvard Business case studies represent real-life situations, and therefore, an analysis of the industry's competitive environment needs to be carried out to come up with more holistic case study solutions. In Porter's Five Forces analysis, the industry is analysed along 5 dimensions. • These are the threats that the industry faces due to new entrants. • It includes the threat of substitute products. • It includes the bargaining power of buyers in the industry. • It includes the bargaining power of suppliers in an industry. • Lastly, the overall rivalry or competition within the industry is analysed This tool helps one understand the relative powers of the major players in the industry and its overall competitive dynamics. Actionable and practical solutions can then be developed by keeping these factors into perspective. Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] 6. PESTEL Analysis of Finland and Nokia Creating the World’s Most Competitive Economy Another helpful tool that should be used in finding the case study solutions is the PESTEL analysis. This also looks at the external business environment of the organisation helps in finding case study Analysis to real-life business issues as in HBR cases. • The PESTEL analysis particularly looks at the macro environmental factors that affect the industry. These are the political, environmental, social, technological, environmental and legal (regulatory) factors affecting the industry. • Factors within each of these 6 should be listed down, and analysis should be made as to how these affect the organisation under question. 7. VRIO Analysis of Finland and Nokia Creating the World’s Most Competitive Economy This is an analysis carried out to know about the internal strengths and capabilities of Finland and Nokia Creating the World’s Most Competitive Economy . Under the VRIO analysis, the following steps are carried out: • The internal resources of Finland and Nokia Creating the World’s Most Competitive Economy are listed down. • Each of these resources are assessed in terms of the value it brings to the organization. • Each resource is assessed in terms of how rare it is. A rare resource is one that is not commonly used by competitors. • Each resource is assessed whether it could be imitated by competition easily or not. • Lastly, each resource is assessed in terms of whether the organization can use it to an advantage or not. • The analysis done on the 4 dimensions; Value, Rareness, Imitability, and Organization. If a resource is high on all of these 4, then it brings long-term competitive advantage. If a resource is high on Value, Rareness, and Imitability, then it brings an unused competitive advantage. If a resource is high on Value and Rareness, then it only brings temporary competitive advantage. If a resource is only valuable, then it’s a competitive parity. If it’s none, then it can be regarded as a competitive disadvantage. 8. Value Chain Analysis of Finland and Nokia Creating the World’s Most Competitive Economy Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] The Value chain analysis of Finland and Nokia Creating the World’s Most Competitive Economy helps in identifying the activities of an organization, and how these add value in terms of cost reduction and differentiation. This tool is used in the case study analysis as follows: • The firm’s primary and support activities are listed down. • Identifying the importance of these activities in the cost of the product and the differentiation they produce. • Lastly, differentiation or cost reduction strategies are to be used for each of these activities to increase the overall value provided by these activities. Recognizing value creating activities and enhancing the value that they create allow Finland and Nokia Creating the World’s Most Competitive Economy to increase its competitive advantage. 9. BCG Matrix of Finland and Nokia Creating the World’s Most Competitive Economy The BCG Matrix is an important tool in deciding whether an organization should invest or divest in its strategic business units. The matrix involves placing the strategic business units of a business in one of four categories; question marks, stars, dogs and cash cows. The placement in these categories depends on the relative market share of the organization and the market growth of these strategic business units. The steps to be followed in this analysis is as follows: • Identify the relative market share of each strategic business unit. • Identify the market growth of each strategic business unit. • Place these strategic business units in one of four categories. Question Marks are those strategic business units with high market share and low market growth rate. Stars are those strategic business units with high market share and high market growth rate. Cash Cows are those strategic business units with high market share and low market growth rate. Dogs are those strategic business units with low market share and low growth rate. • Relevant strategies should be implemented for each strategic business unit depending on its position in the matrix. The strategies identified from the Finland and Nokia Creating the World’s Most Competitive Economy BCG matrix and included in the case pdf. These are either to further develop the product, penetrate the market, develop the market, diversification, investing or divesting. 10. Ansoff Matrix of Finland and Nokia Creating the World’s Most Competitive Economy Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] Ansoff Matrix is an important strategic tool to come up with future strategies for Finland and Nokia Creating the World’s Most Competitive Economy in the case solution. It helps decide whether an organization should pursue future expansion in new markets and products or should it focus on existing markets and products. • The organization can penetrate into existing markets with its existing products. This is known as market penetration strategy. • The organization can develop new products for the existing market. This is known as product development strategy. • The organization can enter new markets with its existing products. This is known as market development strategy. • The organization can enter into new markets with new products. This is known as a diversification strategy. The choice of strategy depends on the analysis of the previous tools used and the level of risk the organization is willing to take. 11. Marketing Mix of Finland and Nokia Creating the World’s Most Competitive Economy Finland and Nokia Creating the World’s Most Competitive Economy needs to bring out certain responses from the market that it targets. To do so, it will need to use the marketing mix, which serves as a tool in helping bring out responses from the market. The 4 elements of the marketing mix are Product, Price, Place and Promotions. The following steps are required to carry out a marketing mix analysis and include this in the case study analysis. • Analyse the company’s products and devise strategies to improve the product offering of the company. • Analyse the company’s price points and devise strategies that could be based on competition, value or cost. • Analyse the company’s promotion mix. This includes the advertisement, public relations, personal selling, sales promotion, and direct marketing. Strategies will be devised which makes use of a few or all of these elements. • Analyse the company’s distribution and reach. Strategies can be devised to improve the availability of the company’s products. 12. Finland and Nokia Creating the World’s Most Competitive Economy Strategy The strategies devised and included in the Finland and Nokia Creating the World’s Most Competitive Economy case memo should have a strategy. A strategy is a strategy that involves firms seeking uncontested market spaces, which makes the competition of the company irrelevant. It involves coming up with new and unique Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] products or ideas through innovation. This gives the organization a competitive advantage over other firms, unlike a red ocean strategy. 13. Competitors analysis of Finland and Nokia Creating the World’s Most Competitive Economy The PESTEL analysis discussed previously looked at the macro environmental factors affecting business, but not the microenvironmental factors. One of the microenvironmental factors are competitors, which are addressed by a competitor analysis. The Competitors analysis of Finland and Nokia Creating the World’s Most Competitive Economy looks at the direct and indirect competitors within the industry that it operates in. • This involves a detailed analysis of their actions and how these would affect the future strategies of Finland and Nokia Creating the World’s Most Competitive Economy . • It involves looking at the current market share of the company and its competitors. • It should compare the marketing mix elements of competitors, their supply chain, human resources, financial strength etc. • It also should look at the potential opportunities and threats that these competitors pose on the company. 14. Organisation of the Analysis into Finland and Nokia Creating the World’s Most Competitive Economy Case Study Solution Once various tools have been used to analyse the case, the findings of this analysis need to be incorporated into practical and actionable solutions. These solutions will also be the Finland and Nokia Creating the World’s Most Competitive Economy case answers. These are usually in the form of strategies that the organisation can adopt. The following step-by-step procedure can be used to organise the Harvard Business case solution and recommendations: • The first step of the solution is to come up with a corporate level strategy for the organisation. This part consists of solutions that address issues faced by the organisation on a strategic level. This could include suggestions, changes or recommendations to the company's vision, mission and its strategic objectives. It can include recommendations on how the organisation can work towards achieving these strategic objectives. Furthermore, it needs to be explained how the stated recommendations will help in solving the main issue mentioned in the case and where the company will stand in the future as a result of these. Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] • The second step of the solution is to come up with a business level strategy. The HBR case studies may present issues faced by a part of the organisation. For example, the issues may be stated for marketing and the role of a marketing manager needs to be assumed. So, recommendations and suggestions need to address the strategy of the marketing department in this case. Therefore, the strategic objectives of this business unit (Marketing) will be laid down in the solutions and recommendations will be made as to how to achieve these objectives. Similar would be the case for any other business unit or department such as human resources, finance, IT etc. The important thing to note here is that the business level strategy needs to be aligned with the overall corporate strategy of the organisation. For example, if one suggests the organisation to focus on differentiation for competitive advantage as a corporate level strategy, then it can't be recommended for the Finland and Nokia Creating the World’s Most Competitive Economy Case Study Solution that the business unit should focus on costs. • The third step is not compulsory but depends from case to case. In some HBR case studies, one may be required to analyse an issue at a department. This issue may be analysed for a manager or employee as well. In these cases, recommendations need to be made for these people. The solution may state that objectives that these people need to achieve and how these objectives would be achieved. The case study analysis and solution, and Finland and Nokia Creating the World’s Most Competitive Economy case answers should be written down in the Finland and Nokia Creating the World’s Most Competitive Economy case memo, clearly identifying which part shows what. The Finland and Nokia Creating the World’s Most Competitive Economy case should be in a professional format, presenting points clearly that are well understood by the reader. 15. Alternate solution to the Finland and Nokia Creating the World’s Most Competitive Economy HBR case study It is important to have more than one solution to the case study. This is the alternate solution that would be implemented if the original proposed solution is found infeasible or impossible due to a change in circumstances. The alternate solution for Finland and Nokia Creating the World’s Most Competitive Economy is presented in the same way as the original solution, where it consists of a corporate level strategy, business level strategy and other recommendations. Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] 16. Implementation of Finland and Nokia Creating the World’s Most Competitive Economy Case Solution The case study does not end at just providing recommendations to the issues at hand. One is also required to provide how these recommendations would be implemented. This is shown through a proper implementation framework. A detailed implementation framework helps in distinguishing between an average and an above average case study answer. A good implementation framework shows the proposed plan and how the organisations' resources would be used to achieve the objectives. It also lays down the changes needed to be made as well as the assumptions in the process. • A proper implementation framework shows that one has clearly understood the case study and the main issue within it. • It shows that one has been clarified with the HBR fundamentals on the topic. • It shows that the details provided in the case have been properly analysed. • It shows that one has developed an ability to prioritise recommendations and how these could be successfully implemented. • The implementation framework also helps by removing out any recommendations that are not practical or actionable as these could not be implemented. Therefore, the implementation framework ensures that the solution to the Finland and Nokia Creating the World’s Most Competitive Economy Harvard case is complete and properly answered. 17. Recommendations and Action Plan for Finland and Nokia Creating the World’s Most Competitive Economy case analysis For Finland and Nokia Creating the World’s Most Competitive Economy, based on the SWOT Analysis, Porter Five Forces Analysis, PESTEL Analysis, VRIO analysis, Value Chain Analysis, BCG Matrix analysis, Ansoff Matrix analysis, and the Marketing Mix analysis, the recommendations and action plan are as follows: • Finland and Nokia Creating the World’s Most Competitive Economy should focus on making use of its strengths identified from the VRIO analysis to make the most of the opportunities identified from the PESTEL. • Finland and Nokia Creating the World’s Most Competitive Economy should enhance the value creating activities within its value chain. • Finland and Nokia Creating the World’s Most Competitive Economy should invest in its stars and cash cows, while getting rid of the dogs identified from the BCG Matrix analysis. Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

Email us for Any Case Solution at: [email protected] • To achieve its overall corporate and business level objectives, it should make use of the marketing mix tools to obtain desired results from its target market. Email us for Any Case Solution at: [email protected] Note: This article is just a sample and not an actual case solution. If you want original case solution, please place your order on the Email. Please do check Junk/Spam folder of your E-mail for our reply, if not in Inbox.

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Finland and Nokia Harvard Case Solution & Analysis

Home >> Economics Case Solutions >> Finland and Nokia

Problem Statement

Finland, a country that has been quite sleepy in its approach for centuries managed to become one of the fastest growing and competitive economies by the end of year 2001. The country’s main focus shifted from investment-driven to innovation thathelps the economy grow rapidly and the country managed to take the top spot in the global competitiveness report from America.

The dynamic telecommunications cluster played a vital role in shaping the country’s economy and especially the role played by Nokia that outraged everyone in the telecom sector. However, with the emergence of players like Blackberry and iPhoneand increase in competitiveness in the sector placed challenges not just for Nokia but for Finland as well. The question arises, how effectively the country and the company can manage to overcome these issues to sustain their success.

Nokia started operating as a pulp mill in the early 1865 and has been quite significant for the economy of Finland since its inception. Theemergence of the modern Nokia Corporation happened in the late 1967 by merging with a telecommunications cable corporation. Besides that the Finish Rubber Works and merging with different electronic business laid the foundation for the current shape of Nokia. The creation of Nordic Mobile Telephone in the country emerged in the early 1980’s that enlightened the consumers' top several innovative aspects of the technology. Oneof the most significant innovations is the rooming technology, which has been pioneered by NMT that allowe3d consumers to use the communication channels across borders.

This strategy or the formation of NMT allowed the region to pioneer the mobile market and brought significant importance for the Nordic region. With the emergence of this technology and Nordic region being the pioneer the standards were raised and provided an opportunity to capture global markets. Nokia utilized this opportunity effectively and eventually established itself as the largest company of consumer electronics in the region leveraging its strengths and mergers and acquisitions. The company has not restricted itself and occupied different global markets through expansion.

The emergence and growth of Nokia helped the Finish economy splendidly and Nokia became the largest company in the country and significant contributor to the GDP. The telecom sector is the largest sector of the country and Nokia is amongst the top three internationally in the industry. The telecom sector contributes significantly and adds value up to 21% of the country while Nokia is growing rapidly with presence in more than 10 countries. The company has also established research and development facilities in around 15 countries and sale in more than 130 countries globally.

SWOT Analysis

It is empirical to analyze the key strengths and weaknesses of the company along with its opportunities and threats. This portion will help in analyzing the situation the company is facing currently and will make the route easier to derive solutions for the issues that are apparent for the company.

  Strengths

The key strengths that contributed significantly to the growth of the company include its label of being the pioneer of the industry. Nokia emerged as one of the pioneers in the region and has open up a new segment or industry to create new opportunities. The strength of the company includes its innovative outlook and the constant and effective use of innovation.

The company has attained the position of the market leader, leveraging its innovative presence and has constantly offered new and innovative products to its customers. Besides that the product line of the company is also a significant strength as it allowed the company to become a globally recognized brand.

In the digital phone segment the company constantly offered a wide range of products that has helped the company become the largest player in the market with a market share of around 31% in the year 2000. The company has emerged on the global scale through effective and strong communication channels.

Adding more to the strengths of the company is its brand name and brand equity that is well established and has created a strong presence in the consideration set of the consumers. Despite having a Nordic origin the company is recognized as a global brand and is present in almost 130 countries.

On the other hand research and development has been a key factor in strengthening the presence of Nokia as it allowed the company to evolve with the passage of time and practice constant innovation. All these strengths have helped the company impressively to take hold of the industry and set the trends for the future for decades...........................................

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