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How Nokia Creates Strategic Advantage in a Fast-Changing World

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Nokia has portrayed a lot of strength because it has been among the leading companies in the industries of electronics and telecommunications for quite a long period. The corporate has portrayed a strong ability because it has been able to adapt to the market since it started. It is clear that the company started in the industry of rubber back in the 19th century. All through it has been able to adjust in order to fit in the market by coming up with new production strategies all through its life. However, the corporate weakness is that it has experienced huge growth, but it cannot be in a position to maintain its rate of growth at this current period.

The corporate can maximize its strengths of leading in the market by coming up with better advanced and cheaper devices to maintain a large market share. Another strategy that the corporate can utilize to maximize its strength is making sure that it has the best products as compared to its competitors since it has been in the industry for a long time.

Innovation should be the main strategy of the corporate in order to ensure that it continues to lead in the market. For innovation to be effective, the corporate requires to employ more skilled and professional workforce whose results will not be comparable. Borrowing ideas and researching about the competitors can help in maintaining corporate strengths. Several measures should be taken by the management in order to outdo its weakness. The corporate should ensure that it sets new strategies and implement them wisely. Otherwise, if its policies remain the same, the corporate will continue decreasing in terms of its growth.

One of the strategies is to employ new policies and employing new, advanced technology in order to produce the best. Nokia’ s resources are skilled labour was the main necessity in the company. The corporate could not get the required capabilities from its home country, the company searched or skilled labour from other foreign countries. The foreign labour and the home-acquired labour are the main sources of success of the corporate (Steinbock, 2010). All that the company needed were people who could fit well in the corporate culture.

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