Introduction to Strategic Management
COMPANY: NOKIA
An individual assignment requiring the preparation of a report discussing ANY International Company about their theoretical application of the strategic management process; including a variety of contextual examples for a specific firms; related to each strategic management process stage and find out the best strategic management process applied by the company. The chosen firms must be identified in the first three weeks of study.
The report must contain the following elements:
Executive Summary
Introduction including a company profile (Word limit: around 500)
An introduction to your paper and to your company including a brief description of the firm and its position within the industry.
Strategic Analysis
For your chosen firm, outline the stages, steps and procedures in the strategic analysis part of the strategic management process; including pertinent applied examples from your chosen firm to emphasis theoretical application.
Note: You do not need to actually carry out a fully applied strategic analysis but you should illustrate your theoretical based answer with some specific examples related to your chosen firm.
Strategy Formulation
For your chosen firm, outline the stages, steps and processes involved in the formulation of business and corporate strategy as part of the strategic management process.
Note: You do not need to actually carry out a fully applied strategic formulation but you should illustrate your theoretical based answer with some specific examples related to your chosen firm.
Strategy Implementation
For your chosen firm, outline the stages, steps and processes involved in the implementation of business or corporate strategy as part of the strategic management process; including pertinent applied examples from your chosen firm to emphasize theoretical application.
Note: You do not need to actually carry out a fully applied strategic implementation but you should illustrate your theoretical based answer with some specific examples related to your chosen firm..
Conclusion(Word limit: around 350 words)
Answer preview
Nokia the company as we know it today started as a pulp mill in a small town of the same name in Finland in the year 1865 by Fredrick Idestam a mining engineer. The company then relied heavily on the forests that were abundant in the country. In 1898, a company by the name Finnish Rubber Works started operations and in 1912, Finnish Cable Works was also started. In 1967, the three companies joined to form what became known as Nokia Corporation which started engaging in the manufacture mobile devices and network equipment. The company also provided solutions and services related to mobile devices and network equipment across the world. After the merger, Nokia Corporation experienced tremendous growth especially when it chose to focus more on the production of mobile devices making it a pioneer in the manufacture of the first mobile phone…
(3000 words)