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Nokia is a large global company that focuses on information technology, telecommunications, and electronic devices. The mill operation that eventually became Nokia Corporation was established in 1865 (Bhalodiya & Sagotia, 2018). Nokia emphasizes respect, accomplishment, renewal, and taking on new challenges as pillars of the companys culture. These principles serve as a guide for the companys growth as well as its success in the market. The company is organized in a matrix structure, with each business unit having its profit-and-loss responsibility. This structure allows for quick decision-making and a high degree of flexibility. The Nokia Technology Company focuses on the development and manufacturing of telecommunications equipment.
Nokia is a technology company that has a long history of innovation. The company has a well-defined structure and function for making decisions considering the multiple stakeholders involved. Nokias strategic planning process is based on several factors, including market analysis, product development, and financial analysis. The company uses several models to guide its decisions, including the SWOT analysis, the business model canvas, and the resource-based view of the firm. Nokia also emphasizes the role of top management in the strategic decision-making process and has developed several tools and techniques.
Nokia is a large multinational corporation with a complex structure and decision-making processes. The company is organized into four business groups: Networks, Nokia Technologies, HERE, and Nokia Mobile Phones. The Networks group is responsible for the companys mobile and fixed network infrastructure business, while the Nokia Technologies group focuses on technology development and licensing. The HERE group is liable for Nokias mapping and location intelligence business, while the Nokia Mobile Phones group focuses on the companys mobile phone business.
The hierarchical structure and centralized decision-making process help the company make quick and efficient decisions. This is important in a rapidly changing and competitive industry like telecommunications (DeLone et al., 2018). Nokias structure and decision-making process also help ensure the company can maintain control over its various businesses and operations. Decisions are made by the Nokia Executive Board, which comprises the CEO and eight other members. The Executive Board of Nokia is in charge of the firms general management and the strategic direction the company will take. Below the Executive Board is the Nokia Management Board, which comprises the heads of the four business groups. The day-to-day operations of Nokia are within the responsibility of the companys Management Board, which is also tasked with putting the Executive Boards decisions into action.
The first step in the decision-making process is identifying the problem that must be addressed. Once the constraint has been specified, the following step is to set goals. The aim should be measurable, achievable, relevant, specific and time-bound. After setting plans, the next step is to generate alternatives. The alternatives should be realistic and should address the goals that have been set. Once the choices have been developed, the next step is to evaluate their options. The evaluation should take into account the costs and benefits of each alternative. After completing the assessment, the next step is to make the decision. The decision should be made based on the evaluation of the other options. Once the decision has been made, the next step is to implement the decision. The implementation should be done in a method that is consistent with the goals that have been set. After the performance is completed, the next step is monitoring and evaluating the results.
References
Bhalodiya, N., & Sagotia, N. (2018). Reasons behind the failure of Nokia: A Case study of Telecom sector. International Journal of Management and Humanities, 5(03), 14-18.
DeLone, W., Migliorati, D., & Vaia, G. (2018). Digital IT governance. In G. Bongiorno, D. Rizzo, G. Vaia (Eds.), CIOs and the digital transformation (pp. 205-230). Springer.
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