Strategic Management Nokia Strategy Report

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Leeds beckett unıversıty faculty of busıness & law
Strategic Manager Nokia Strategy Report
Name: Taner Bulut Student Id:77167528

Paula Singleton – Qazi Kamal
12.01.2016







Contents
Executive Summary 3
1.Macro and Micro Environment of Nokia 4
P.E.S.T.E.L Analysis 4
Political 4
Technological 4
Social 4
Porter's 5 Forces 4
Threat of entry: 4
The power of suppliers: 4
Rivalry between competitors: 5
2.Strategic Capabilities of Nokia 5
S.W.O.T. Analysis of Nokia: 5
Strengths: 5
Weaknesses: 6
Opportunities: 6
Threats: 6
Value Chain Analysis of Nokia: 6
Marketing and Sales: 7
Technology Development: 7
VRIO Framework of Nokia 7
Value: 7
Rarity: 7
Inimitability: 7
Organisational Support: 7
3.Culture 8
Corporate Governance Framework of Nokia 8
Stakeholders of Nokia 9
Internal Stakeholders: 9
Shareholders: 9
Employee: 9
Suppliers: 9
External Stakeholders: 10
Customers: 10
Government: 10
4.Corporate Strategies: 10
Nokia's Corporate Analysis with Ansoff Matrix 10
Market Penetration: 10
Product Development: 10
Diversification: 11
Bowman Strategy Clock 11
Considering the current situation with Porter's Generic Strategies 12
5.Innovation of Nokia 13
Nokia's Comparative Analysis in a basis of Innovation Dilemmas 13
Technology push: 13
Product innovation: 13
Open innovation: 13
6.Strategic Options 14
Bibliography 16


Executive Summary
"Nokia Corporation is the provider of telecommunications and infrastructure, location-based technologies and advanced technologies. It was established at Espoo in Finland and has 61.656 employees. The company has operations in North America, Europe and Asia. Also, Nokia's total revenue of 2014 is €12.73 billion." (Marketline, 2015a).
The main purpose of this research, analyses and understand all strategical internal and external elements of Nokia. Accordingly it was aimed to create valuable and applicable results for Nokia and its subsidiaries. Likewise, all research has been done considering the sale of Nokia's handset devices department to Microsoft in 2014 and announcement of the returning decision of Nokia to the smartphone market with appropriate partnerships in the 4th quarter of 2016. (Curtis, 2015).
Firstly, the research was started to investigate the macro and micro elements of Nokia with tools of P.E.S.T.E.L. and Porter's five forces. Especially the attention was drawn to technological and social factors of Nokia because these factors are the key determinants of Nokia and its targeted market. In microenvironment analysis was targeted mainly the Nokia's rivalry between competitors with strategy canvas.
Secondly, strategic capabilities of Nokia examined with S.W.O.T., Porter's Value Chain and VRIO Framework. The main purpose of this analysis understands the current situation and possible scenarios for Nokia. In this segment primary deficiencies of Nokia were the lack of innovation, understanding the customer needs and unsuccessful cost strategies. Despite these weaknesses, the new strategical capabilities were explained. One of this strategical power is technology development, to improve this operation Nokia is making lots of extra activities.
In Culture segment; corporate governance, internal and external stakeholders were explained with supportive figures. One of the findings was the general structure of Nokia's internal cycle. The other one is effects and the current position of significant stakeholders on using of power/interest matrix.
Corporate strategies were explained with Ansoff Matrix, Bowman Strategy Clock and Porter's Generic Strategies to make a rational explanation for strategies of Nokia. Market Penetration and product development were described respectively to consider what type of services and products they are using to be successful in their targeted markets. Also, Bowman Strategy Clock and Porter's Generic Strategies used to understand current market strategies of Nokia
The term of innovation was used in the 5th section of the report. The main reason for analysing the innovation, it has the increasing importance in the business world. In this section, Nokia's innovation targeted strategies and practices were explained carefully. Additionally comparative analysis was made with four main innovation dilemmas. According to these dilemmas, the current status of Nokia compared with considering these factors.
As a result, the possible and applicable strategic options were explained with the explanatory figure. Main recommendations were built on, understanding the internal and external factors of Nokia, the returning decision of Nokia to handset devices market. Also, the final recommendation was made about restructuring the working environment and business culture for Nokia's employees.

1.Macro and Micro Environment of Nokia
P.E.S.T.E.L Analysis
Political
Political factors are the primary regulatory sanctions toward companies.These factors build main lines of the business environment.The political factors and laws are more protective in developed countries; that's why the global companies are moving their production facilities to develop or undeveloped countries that they haven't more effective laws or political sanctions against companies.Due to this reason, Nokia's main success was based on Finnish policies which assist Nokia to develop its corporate success and to prepare the effective business environment but after the economic crisis in Finland, the production costs started to increase, and Nokia had problem compete with it global rivals.After this issue, Nokia moved its important production facilities to India to decrease the cost of production.
Technological
The most important environmental factor is technology for companies which produces products or services needs technological research and development.The selling of handset devices department to Microsoft, this sale was including the over the 50 thousand patents.This situation creates the lack of technological improvement for Nokia.Considering the announcement of returning of Nokia in handset market again in the 4th quarter of 2016, selling of these research will be crucial for Nokia.
Social
The expectations from products and services are changing because of technologic changes; this changes created a new type of sociological environment.Nowadays potential customers expect more features and values from product and services.Because of these changes, the Nokia was late to understand this expectations and needs.The new trends in smartphones changed the consumer behaviors and must be careful to consider this factor (Hubpages, 2012).
Porter's 5 Forces
Considering the Nokia's return to mobile devices market, SWOT analysis has a significant role to understand market dynamics.
Threat of entry:
The threat of entry in mobile devices market is medium because the after the technological developments on minimizing costs at the production of chipsets and devices, especially in China created the selling environment of SME's.But the weakness of brand recognition and selling distribution decreasing the threat of entry level.Nokia has a powerful brand recognition and experience of years at this point.
The power of suppliers:
Despite the Nokia's low shares in the handset market, Nokia still has the brand and financial power to control the suppliers, that's why suppliers still have low bargain power.Also, Nokia doesn't have a particularly indispensable supplier this situation sustain the freedom in the market.(Marian, 2013a p.4.)
Rivalry between competitors:
Because of the high number of competitors and brand values, the size of mobile devices industry and the Chinese and Indian SME's which have low production cost with maximum values increasing the level of this situation to high.Considering the financial power of Nokia, this situation is the most difficult factor, and it must be examined carefully in the handset market (Saharan, 2012).
Table1.Strategy canvas of Nokia

(Joshi et al. 2013). Illustrates the Strategy Canvas of Nokia's Lumia Series
This graph doesn't contain the market shares of Nokia and its competitors. It's only focused on the specification of Nokia's products and its competitors. According to the table, the Nokia must work on price factor, style and usage of its products. Also, a variety of apps must focus and develop by Nokia. Also, the design of products must be based on the customer expectations.
2.Strategic Capabilities of Nokia
S.W.O.T. Analysis of Nokia:
Strengths:
Powerful brand recognition: As a global company Nokia was a leader in the mobile device market.They created the mobile devices culture and consumer behaviors in the market.Also, the other subsidiaries like HERE are one of the reliable GPS services that serve to automotive and high-tech related product market.(Marian, 2013b p.15)
A variety of patents: After the selling over the 50 thousands of patents, Nokia still has a broad portfolio of patents related networking, radio systems, software and hardware systems.
Weaknesses:
Lack of understanding customer needs: After the technological developments consumer expectations changed nowadays people expect more features from particular products, in this case, Nokia couldn't innovate its products. .(Marian, 2013c p.15)
High prices of services and products: Until the declining rates of market share, Nokia has an aggressive pricing strategy with phone and network companies this situation harmed the Nokia's corporate future.
Opportunities:
Increasing demands on handset market: The market for mobile devices and needs of network infrastructure still growing, considering the experience, brand reputation and patent knowledge Nokia use it for gaining its power again.
New 5G Market: The primary strategic purpose of buying the Alcatel-Lucent, having powerful in network market, considering the research and developments on 5G trials, Nokia wants to prepare for this technological opportunity with Alcatel's research about this technology.
Threats:
An increasing number of microbrands: Because of the SME's which has a low-cost production facilities redirecting the customers to choose these types of products.
Powerful competitors in the market: Nokia was lost its market share because of lack of competition against Apple and Samsung.Considering their market share and financial power Nokia must be careful the design its strategic plans (Marketline, 2015b).
Value Chain Analysis of Nokia:

Figure 1. Porter's Value Chain Analysis

(Business set free, 2013)

Marketing and Sales: This primary activity is the one of the most important factors for the Nokia, combining successful marketing plan helped the net sales of Nokia were €3.2 billion in Q2 of 2015 according to 2014 there is an increase around 9% (Nokia, 2015a). Sales Segmentation of Nokia spread over Asia and some part of Africa regions which needs network and mobile infrastructure.The marketing strategies of Nokia based on customer satisfaction but after the selling of mobile devices department occurred reorganisation of other departments financial and organisational structure.Considering the returning decision of Nokia to the mobile market, preparing the financial assets to control sales and marketing mechanisms will need well-considered.
Technology Development: Nokia focuses on entirely technological research and development activities for patenting of network infrastructure and mobile devices with research and development at the announcement of the new strategy in 2014.They will focus on innovation and resource sharing with understanding demands and needs of its employees (Stadler, 2014). The main strategical focus is following the technological advancements and be prepared for the new corporate movements.
VRIO Framework of Nokia
Value: Nokia is one of the oldest mobiles, and mobile infrastructure brand in the world and this factor created strong brand recognition and value for the company.Nokia used this situation successfully until 2012 when the losing market leader position.Nowadays Nokia using its corporate capabilities to gain position in network infrastructure market for preparing to return again to mobile device market.
Rarity: Mobile devices market is one of the competitive markets in the world. Considering the turnover rates of this market, Nokia has significant rivalries in this segment, due to this reason rarity factor isn't useful because of a variety of products and services.
Inimitability: In the mobile network infrastructure and GPS systems of Nokia are too powerful because of its research and patents but mobile devices don't have the same power because of the sale of this department.
Organisational Support: This factor is the biggest problem in Nokia. Especially the employees who don't have the vision of innovation led to Nokia unsuccessful at designing and innovating of products.








Figure 2.The VRIO Summary
Resource/Capability
Does it have Value?
Is it Rare?

Is it Inimitable?
Org.Support
Competitive Implications
The Brand
yes
yes
yes
yes
Competitive disadvantage
Mergers and Acquisitions
yes
yes
yes
yes
Competitive parity
Research and Development
yes
yes
no
yes
Temporary competitive advantage
Innovation
yes
no
yes
no
Sustainable competitive advantage
(Singleton, 2015a)
3.Culture
Corporate Governance Framework of Nokia
Figure 3. General governance scheme of Nokia
(Nokia, 2015b)
The corporate governance system of Nokia based on Finnish regulatory laws and applications.According to these laws, Nokia divided its managerial operations as shown in the graph. A general meeting of shareholders, the primary purpose of this organisation is an application of decision making process because of Finnish regulatory laws.Each member of this meeting has a voting power to make a decision of election about a specific subject.(Nokia, 2015c p.94)
The board of directors, includes audit, personnel, corporate governance and nomination committee. They have an active role in preparing, sustaining strategical and administrative direction and investigatiıng the internal and external corporate elements of Nokia.
Nokia Leadership Team, they have responsibility for operative management of Nokia to develop and sustain operative strategies of Nokia. (Nokia, 2015c p.98)
Stakeholders of Nokia
Figure 4. Mendelow Power/Interest Matrix
(Oxcomlearning, 2015)

Internal Stakeholders:
Shareholders: They were located in section D in the matrix because they are the main effectors of Nokia.Before the every strategic movement Nokia has to consider their interest and its market share in stock exchange because of their power and interest.
Employee: This stakeholder is located in section D. They have the power to increase or decrease corporate success.But considering the old historical cases, Nokia lost its market share because one of The main issues were products and services that have not innovatively designed and focused on customer targeted.The main issue for this problem lacks innovation vision in employees of Nokia.Before the every strategic movement, Nokia must control its internal elements.
Suppliers: These stakeholders are located in A section in the matrix because the lowest bargaining power according to another stakeholder because of growth in some the manufacturer.But considering the effects of suppliers they can negatively effect of brand image because if one of the unethical behaviors of suppliers reveal, the consequences will affect to Nokia and its shares.
External Stakeholders:
Customers: They are located in D section at matrix because they are the decisions in the market, controlling them and creating a sustainable relationship with them is a key value for companies.Nokia created this link between itself and customers as known the company that produces good products before the increasing rates of the smartphone market.
Government: They located in section D. Their power of sanction high As previously described, governments have the power to control companies and use them for national purposes.Because of encouraging commerce laws of Finnish government help the Nokia to develop its global share.
4.Corporate Strategies:
Nokia's Corporate Analysis with Ansoff Matrix
Figure 5.Ansoff Matrix

Marketingtips4you, (2015). Adopted from Ansoff, I. (1989). Corporate Strategy, rev edn Penguin.
Market Penetration: After 2013, Nokia focused more on the network infrastructure market,location-based technologies, licensing about mobile research and development technologies.The main purpose of these strategic segmentations is the growing market share of specific markets.Also, critical mergers like buying of Alcatel-Lucent which was the third biggest market share in its sector helps Nokia's market penetration strategy.
Product Development: Nokia is one of the important company that focus too much on research and development.Patenting still has an important subject for Nokia. In the example, the world's first GSM and first LTE call were made by Nokia.Likewise, the HERE is serving too effective location services for lots of customer segmentations.Also, Nokia's OZO Virtual Reality Camera targets to increase product and service variety of Nokia.Nowadays the Ceo of Nokia confirmed Nokia will start to produce mobile devices again in a the 4th quarter of 2016.It's a powerful proof of Nokia's product development and strategic diversification.
Diversification: Nokia always focused on product diversification since the first introduction of their handset devices, they created products and services that serve the all of the customer needs and demands but diversification isn't enough to sustain the market position (Free management ebooks, 2014). Understanding the customer behaviors is also an important subject for companies.Due to this reason, despite the variety of products and services Nokia lost its power in handset market but now Nokia serves different businesses segmentation with diversified and well-examined products and services.Also, as previously mentioned in product development section, the decision of Nokia's reproducing of handset devices can also be an example of diversification section.
Bowman Strategy Clock
Figure 6. Current position of Nokia according to Bowman Strategy Clock

Singleton, P.(2015b) Adapted from D. Faulkner and C. Bowman, The Essence of Competitive Strategy, Prentice Hall, (1995).
According to Bowman's Strategy Clock, The Nokia Corporation is located in the direction of 12 where the line between the hybrid strategies and differentiation strategies.The main reason of this, considering the balance between a variety of products & services of Nokia, it's the best location that describes the corporate strategies of Nokia.The high –tech research and services of Nokia also started to move its location to differentiation part of this graph.
Considering the current situation with Porter's Generic Strategies

Figure 7. Porter's Generic Strategies

(Mindtools, 2015). Adapted from Michael Porter . Competitive Advantage: Creating and Sustaining Superior Performance. (1985).
Observing the Nokia's current movements and strategical direction, It's located in differentiation focus part in Porter's Generic Strategies.Because the main subsidiaries of Nokia's are GPS,Nokia Networks and Technologies.These products and services are powerful members of in their market segmentation.This developments needs time, research and funds, creating same products or services by competitors of Nokia will be too difficult,need funds and research.That's why it makes Nokia's products more powerful and unique in its market.
5.Innovation of Nokia
Nokia has a significant strategical mistake in its history.These mistakes were mainly related to the lack of innovation.Despite these conditions, the biggest subsidiary of Nokia, which is Nokia Networks created a new future vision for itself. The project name is Technology Vision 2020.This vision includes the 6 strategical goals.All of these purposes are related to improvements in infrastructure, network speed, customer experience, capacity and energy consumption.(Nokia, 2015d)
Likewise, Nokia activated the FutureWorks program that enables the scientific research and innovation methods with combining technology vision 2020 (Nokia, 2015e).The other innovation-focused area of Nokia is the 5G research.Nokia is working on the new type of architecture of mobile broadband systems, and they redirected its tools to totally communication market and according to their researches on improvements on the communication network.(Nokia, 2015f)
Also, Nokia Open Innovation Challenge 2015 is focusing on the new type of innovative business models, startup projects and technologies.
Nokia's Comparative Analysis in a basis of Innovation Dilemmas
These dilemmas should be examined in two divided time zone.They are the before and after the selling of department of mobile devices to Microsoft.Because this sale is still affecting the corporate future and structure.Also it can assist to Nokia in decision of returning to mobile devices market.
Technology push: It's the factor that used by Nokia.Because Nokia was an early-entrants, it's segmented market.That's why the expectation from these type of products changed.But after the technological improvements, the innovation that produce by company factors were worked, and it shifted to the market pull when the number of competitors increased.
Product innovation: Considering the network and handset device department of Nokia, they focused on product innovated, innovated products always an important factor for Nokia.Nowadays Nokia is trying to combine product and service innovation with the vision of 2020.
Open innovation: As mentioned in innovation section, Nokia is using the elements of open innovation, the mergers, strategic alliances, competitive public challenges can be an example of this factor.In case, Nokia and LG made agreements about licensing patents.(Reisinger, 2015).Especially the observing the business segments of Nokia works on high tech researches, every scientific assistance, and encouraging activities will be too practical for Nokia.
Also, Nokia trying to be the first mover in the 5G mobile market, due to this reason the company wholly focuses on the infrastructure research to gain advantages of being the first mover in this segmentation.(Nokia, 2015)
In addition, according to technological innovation dilemma, the Nokia needs both of technological and business model.Because the product that has a variety of features arent enough for all of the customer segmentation.Especially in B2C segmentation, customer expect more values from specific products.Also products must be effective and the selling channels must prepared again.
6.Strategic Options
Considering the brand reputation and corporate history, building sustainable and effective strategy is the most crucial factor for Nokia.According to this research and Nokia's current situation, every corporate element must examine carefully.
The first action step must be related understanding and regulating the internal and external environmental factors of Nokia.The most important factor in the external analysis is the understanding the social and technological factors of Nokia.These factors are the determinants of corporate future. Nokia was always prepared technologically against environmental changes without a few exceptional situation.But a lack of innovation in their products prepared the losing its market share in the handset market.Nowadays main expectation isn't only the specific products they also demand more values from the product and services.Considering that, combining the technology with innovation must be the key goal for Nokia.
Figure 8. Number of smartphones sold to end users worldwide from 2007 to 2014 (in million units)

(Statista, 2015)
The Ceo of Nokia Rajeev Suri confirmed the Nokia is preparing to return to handset device market with new products in 2016.According to these figures, returning to this market will be effective to generate more funds and to increase the product variety.In 2014 the 82.8% of the smartphone customers that use the Android operating system.As known after the growth of smartphones usages, Nokia decided to use Windows operating system, nowadays the market share of usage of Windows in phones are only 2.6% (IDC, 2015). According to these , Android operating system must use by Nokia in its phones with innovative products and services before the entering market.
The other factor is focusing on developments of employees environment.The new corporate culture must prepare by the management of Nokia.Considering the Apple and its corporate environment, the Apple provides more comfortable and creative working environment to its employees (Eadicicco, 2015). This situation occurs the more effective brand image and more open-minded inventions.In this case, Nokia must analyse its internal elements and must build the new type of working environment to have the capability to compete against to its competitors.
Nowadays the main operations of Nokia were focused on GPS, network infrastructure, additional technologies and preparing to handset devices.As mentioned before diversifying the product variety isn't enough to develop and sustain a market share of the company.Because Nokia has a variety of product that serves to too many customer segmentation.Nokia must define its specific market segmentation and must focus on this segment in the short term.According to this segment, the products must analyse carefully, and all of the needs and demand must understand well before entering this segment.The main reason of this situation the brand image must locate in a specific point.Moving too much the location of the brand in the specific segment will create confusion in the eyes of potential customers.
As a result, Nokia is one of the oldest companies in mobile and network market.Sustaining the strategic partnerships and current licensing activities made more valuable the Nokia. But considering the changing form of product and services making more difficult the business environment.According to these changes, all of the business segmentations are changing.That's why global companies are changing their structure to adapt these advancements.If the Nokia can produce products combined via creativity, innovation, technology and understanding elements of its consumers demand will help to achieve corporate success.













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