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Essay / Research Paper Abstract
A 16 page paper. The writer begins with a very brief introduction to Nokia Corporation. The first section of the paper reports and discusses the historical growth of the company and relates the stages of growth to two specific sets of years – 1992 to 1997 and 1998 to 2001. There were significant changes in Nokia's performance between 1997 and 1998. The second section discusses the challenges Nokia has and is facing and how they have responded to those challenges. The last section discusses the business strategies of each Motorola and Nokia over the last several years. Market share data are included. Bibliography lists 15 sources.
Page Count:
16 pages (~225 words per page)
File: MM12_PGnok.rtf
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Unformatted sample text from the term paper:
Billion in sales (StockTalk: Communications, 2003). Nokia has twice the market share of the next largest competitor, Motorola (StockTalk: Communications, 2003). Nokia, whose headquarters are in Espoo, Finland, is the
worlds #1 producer of cellular phones and the company is gaining market share in the nascent mobile Internet market (Hoovers, 2003). The company has two major divisions: mobile phones and
networks (Hoovers, 2003). The companys major competitors in todays market are Motorola, Siemens and Ericsson (Hoovers, 2003). Nokia did not always enjoy the top position in the industry. In the
early 1990s, two events presented extreme challenges for the company (Lee and Raza, 2000). First, the country, Finland, suffered a major financial crisis brought on by the economic recession in
Europe (Lee and Raza, 2000). Second, the Soviet Union, which was Finlands largest trading partner, collapsed (Lee and Raza, 2000). Over the course of only a few years, the Finnish
market lost more than one-third of its value, the unemployment rate soared to 18 percent and the Finnish banking system came close to collapsing (Lee and Raza, 2000). Despite the
many steps Nokia took to work through these negative external forces, the company suffered losses totaling $213 million in the 1991-1992 fiscal year (Lee and Raza, 2000). Since Russia had
been a large purchaser of mobile phones, Nokias mobile division experienced severe losses (Lee and Raza, 2000). Stockholders began dumping shares and no one else wanted to buy them (Lee
and Raza, 2000). The Nokia Board appointed Jorma Ollila, who was then president of the company, as the new CEO in January 1992 (Lee and Raza, 2000). Ollila wasted no
time in making changes to meet the challenges of the early 1990s. The first thing he did was to establish a very strong team comprised mostly of "new generation people"
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