[SOLVED] Rise and Fall Nokia
Nokia Company is among the pioneers of mobile telecommunication across the globe. The company started investing in a communication network at around 1990. Nokia progressed well by selling mobile phones, smart TVs, audio gadgets, and many others to its potential customers. Like Nokia Firm had enjoyed its peak moment by realizing a profit margin of $300 billion in the 2016 financial year. Griffin (2018) confirms that Nokia had been the market leader for quite some time and its success brought pride to Finland. By around 2011, Nokias performance started deteriorating, which sold at only 5.4 billion to Microsoft in 2014 (Alcacer, Khanna & Snively, 2014). Since then, there have been several arguments and publications about the rise and fall of the giant company Nokia. The fact remains that Nokia’s rise and fall was as a result of a combination of both internal and external factors. This paper will discuss how Nokia was positively affected by internal factors of good management and creativity. Good leadership and a high level of innovation were the key factors that made Nokia enjoy a long period of good performance. Unfortunately, that did not last forever. From 2007 -2011, the version of Nokia started deteriorating due to the emergence of competitors in the global market (Aspara, Tikkanen, Laukia, & Lamberg, 2011). Google and Apple were the two competitors who significantly threatened Nokia and resulted in its decline.
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