MT460 – Unit 2: The Importance of Mission and Vision Statements

MT460 Management Policy and Strategy

Unit 2: The Importance of Mission and Vision Statements

Case Study Analysis Paper: The Mission Statement

Company Mission Statement

Company Name: Nokia Corporation

Topic of the Week:Mission Analysis of Nokia

Synopsis of the Situation

Nokia Corporation is headquartered in Finland as a global telecommunications equipment manufacturer. The company operated a luxury brand of phone brand called Vertu founded by Frank Nuovo in the late 1990s pioneering the luxury mobile phone market. Impressive growth has been experienced in almost 70 countries and sell of hundreds of thousands of phones in the eight years following its launch(Viardot, 2004).

The study is aimed at conducting a SWOT analysis on the companies’ mission statement and creating a case study analysis focusing upon the company’s mission statement. Having been a pioneer of the luxury mobile phone and the new mobile strategy by Stephen Elop to adopt Microsoft’s new operating system, the company is at a good angle to analyze(Datamonitor (Firm), 2000).

Alternative Solutions

  1. Implement more innovative features to their devices.
  2. Employee strategies that endorse quality after sales service.
  3. Promotions targeted at the lower class of the society.

Selected Solution to the Problem

            Implementing more innovative features to their devices is the best solution for the problem at hand. Delivering great mobile products that sense the world will enable execution of this solution. By investing strongly in products and experiences that make devices such as Lumia smartphones stand out and available to customers.

The strategy can be executed by making changes in Nokia Corporation starting with its management team. Tapping into the strong leadership bench at the company will enable great ideas in improving the features of the company. Focusing on the products and services valued by the customers while continuing to invest in the innovation will counter the production of new features by rival companies.

Implementation

Implementation of Nokia’s business which covers Nokia services and devices has two major priorities including products and solutions will play a major role. Products entails the business emphasized on maintainingand increasing sale advantage while solutions entails business delivers mobile solutions emphasizing on innovation and unified UX.

When products and solutions are brought to be, the company will benefit from both local and worldwide customers. Enhancing customer awareness by creating more online ads is one way of achieving this.

Recommendations

Nokia Corporation has many good points and has also some good strategies, despite this, one of the recommendation is that the company should come up with something unique to its own companies so that it wouldn’t be so easily rivaled by other companies easily. A suggestion is that it come up with its’ own software that’s only unique to Nokia which is not used by other companies. Also, more user-friendly and customer satisfactory phone models will help.

Conclusion

Nokia is a successful and big company that lasted and evolved from a small company which was a paper mill in 1865, to a big company that is dealing with a lot of electric gadgets used by many now(Steinbock, 2001). Through the decades, the company has improved and lives up till today and still improving.The company is big and holds quite a fair bit amount of shares but there is still a room improvement as rivaling companies emerge the industry. The company has big aims and flexible strategies for the past, present and future.

 

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