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

The Strategic Audit of Nokia Corporation through and through the Use of Frameworks such as Porters Five Forces Model, Porters generic Strategies, and Resource-Based View Approach - Essay ExampleIn this study, it can be understood that strategic analysis falls under strategic management which is an authoritative give for Nokia to sustain in the prevailing market. Moreover, through the use of secondary sources, the beau mondes boilersuit performance in the year 2013 has been revealed that provides an understanding that Nokias performance in the market for the past fewer years has been declining. Thus, the company must effectively use its resources in order to improve its performance and corroborate the competitive advantage 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 y ear 2013 Nokia had employed 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 capital of Finland Stock Exchange (HSE). However, presently the companys market share has been declining due to the tough opposition faced by Samsung and Apple. Besides, lack of innovation in the recent time has been identified as a major reason behind the companys losing market share worldwide. Correspondingly, the study is primarily cerebrate 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 regain its suprema cy in the global industrial context. Strategic management is a arrogant process that involves the combination of actions such as strategic analysis, preparation of strategies along 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 along with services.