The Strategic Audit of Nokia Corporation through the Use of Frameworks Essay - 8

The Strategic Audit of Nokia Corporation through the Use of Frameworks such as Porters pentad Forces Model, Porters Generic Strategies, and Resource-Based View onset - Essay ExampleIn this study, it can be understood that strategic analysis falls under strategic management which is an important part for Nokia to celebrate in the prevailing market. Moreover, through the use of secondary sources, the smart sets overall performance in the social class 2013 has been revealed that provides an understanding that Nokias performance in the market for the past few years has been declining. Thus, the company must effectively use its resources in order to improve its performance and get the competitive profit in the global market. Nokia was founded in the year 1865 by Fredrik Idestam and is headquartered in Espoo, Finland. It is a multi-national company which is specialized in producing mobile phones that provides telecommunication services to its customers. In the year 2013 Nokia had emp loyed more than 87,771 employees across 120 nations and the company has been selling its product to 150 nations. Moreover, it was witnessed that Nokia earned revenue of 30 billion euros in the year 2013 and the company is a public limited-liability company it is listed in the New York Stock Exchange (NYSE) and Helsinki Stock Exchange (HSE). However, presently the companys market cover has been declining due to the tough competition faced by Samsung and Apple. Besides, lack of innovation in the recent time has been identified as a major causal agent behind the companys losing market share worldwide. Correspondingly, the study is primarily focused towards strategic analysis of Nokia Corporation through frameworks such as Porters Five Forces, Porters Generic Strategies and Wernerfelts Resource-Based View framework. Moreover, the study focuses to provide the recommendation to Nokia Corporation through the strategic analysis so that it can restore its supremacy in the global industria l context. Strategic management is a systematic process that involves the combination of actions such as strategic analysis, preparation of strategies on with its implementation.Strategic analysis is an integral part of strategic management that involves examining the organization in relation to the organizational structure and culture, strengths as well as weaknesses, product, people on with services.