The group has a policy of not hedging 2-year or beyond forecasted foreign currency cash flows. Nokia’s organizational structure is horizontal and it allows for greater flexibility and speedy communication channels between different departments. December 6, 2019. https://ivypanda.com/essays/nokia-organizational-structure/. December 6, 2019. https://ivypanda.com/essays/nokia-organizational-structure/. Many are downloadable. Nokia Siemens Networks is a joint venture with Siemens and it provides network infrastructure which is both fixed and wireless. Despite the slowed growth, the markets have a number of international players selling their products in the markets. Our academic experts are ready and waiting to assist with any writing project you may have. Meet our leadership team. Consequences if protective measures fail. IvyPanda. Overall the mobile device industry is expected to increase by about 10% in 2010 in terms of volume compared to 2009. Nokia Mobile Phones had not been able to develop it’s organizational structures, management systems and competencies to cope with the growth they were going through. An organization is defined as an integration of processes with a single purpose; to attain the expected goal of an organization, management needs to develop and effective working organizational structure. April 2014 für insgesamt übe… The diagram below is an illustration of a tall organizational structure similar to that of Nokia. - Nokia fired a number of R&D employees in order to cut costs as of just weeks ago (Pepin G. 2009). ensure the integrity of our platform while keeping your private information safe. When the department is undertaking this duty, it looks into quantitative and qualitative aspects. Need a custom Essay sample written from scratch by Nokia. The expectations of the company for 2010 are considerably flat in terms of the performance of its various divisions. Responsible for the operative management of Nokia. Despite the company being the largest phone company in the world, the company is facing a number of strategic issues that if not addressed with immediate effect, then the company is likely to lose its competitiveness and dominance in the market; the following are the strategic issues: Phones are long-lasting equipments and making them as so is one of value and quality assurance of Nokia, however markets are getting saturated with phones thus holding a single phone for a long period of time. Technologies LLC, a company registered in Wyoming, USA. Nokia’s move to enter new markets has been a good way of diversifying business interests in the sense that the company has not only developed new products but it has also moved into new physical markets. The people who helped Nokia to become the best company were no longer there. As of October 1, 2009 the organizational structure at Nokia was extremely mobile and flexible. This again explains the difficulty the company faced during 2008 in terms of low sales volumes, depressed prices and difficult financial conditions. Find out more about our board of directors. Nokia’s E-series phones are geared to compete with the Blackberry series. New York is the financial capital of the world’s largest economy and having the ability to raise funds in such a market builds great reputation for a company apart from substantial capital. Managing human resources has been an ignored area in traditional business management, however with modern strategic management; managers increasingly understand that the success of their organization is highly dependent with how well they manage their human resources. Going into new markets exposes the company to absolutely new customers hence increasing the total potential customer base of the company. The SWOT of Nokia discusses the strengths, weaknesses, opportunities and threats of Nokia which is one of the leading mobile handset manufacturer in the industry. This report is an analysis of organizational structure of Nokia Phone Company; the report will analyze the current structure of the company and current strategic issues facing the company. As time goes, the structures of the company are becoming week calling for immediate actions to be taken to retain the glory of the company. Safety message. We've received widespread press coverage since 2003, Your UKEssays purchase is secure and we're rated 4.4/5 on reviews.co.uk. “Nokia-Connecting People”: this slogan is known all over the world. Registered office: Venture House, Cross Street, Arnold, Nottingham, Nottinghamshire, NG5 7PJ. Nokia’s direct and major competitors include Motorola Inc, Cisco Systems Inc, Research in Motion, LM Ericsson Telephone Co., and QUALCOMM Inc. Unlike other Nokias, when I connect this to my PC via USB cable the phone's directory structure does not appear. Similarly the SDR move into the Swedish Stock Market was a strong move as that would have strengthened the capital structure before the delisting. Leaders have the role of developing an organizational structure, which is the framework of operation in the organization, effectively developed structures ensures that resources are effectively managed, customers are satisfied, human resources are well managed, and all stakeholders are satisfied with the position of the organization. IvyPanda. "Nokia Organizational Structure." You are free to use it for research and reference purposes in order to write your own paper; however, you must. Had Internal … NOkia Organisation structure at Nokia Introduction Nokia is an international producer of computer software, internet and telecommunication equipment, it is one of the major candidates competing in the smart phone industries (Studymode2013). Similarly the company faces challenges from Samsung and Motorola in the touch screen phone markets and the latest Android based phones that offer efficient and extremely user friendly interface to consumers. 2019. Study for free with our range of university lectures! This department also ensures that there is a consistent increase in different services as the market evolves. "Organisation Structure Of Nokia Company" Essays and Research Papers . Nokia Corporation faced stiff competition from Canada based corporations, which were involved in the manufacture of BlackBerry and iPhone. It is important to note here that because Nokia’s main sales driver is the mobile device market hence there are higher sales potential for Nokia in developing countries. Disclaimer: This is an example of a student written essay.Click here for sample essays written by our professional writers. Indicates hazard type (optional) 3. SDRs provide a substantial capital inflow in lieu of a stable and known cost of capital that gives the firm’s financial cost structure sustainability and consistency. Nokia’s corporate governance practices comply with Finnish laws and regulations, Nokia’s Articles of Association, the Finnish Corporate Governance Code 2020 The solutions department ensures that it continuously develops solutions whereby ensuring that a particula… "These changes are designed to accelerate the execution of our strategy," said Nokia President and CEO Rajeev Suri. This essay on Nokia Organizational Structure was written and submitted by your fellow student. It’s headquartering in Espoo, Uusimaa. They came up with a smart devices division, mobile phones division, markets division and functional groups. The main areas that need to be looked into include the strategic alliances division, innovation and invention section of the company, and the organizational culture adopted by the Company. Corporate governance. The above graph is again representative of the fact that the company’s stock performed better than most top company stocks during the boom period of 2007. Credit has to be given to the financial managers of the company since there prudent steps ensured a better than average EPS for the company and subsequently even better share price performance. (2019) 'Nokia Organizational Structure'. Many analysts believe that borrowing is a lesser expensive way of raising funds compared to equity as interest paid reduces effective tax rate; secondly creditors do not have a say in the way management runs the business; thirdly no dividends need to be paid out. The operations of Nokia are managed under the direction of the Board. For instance the return on equity was around 53% during 2007; that is a phenomenal return for shareholders from a company that competes in such a tough competitive environment. The structure is only there to ensure that there is good management and processes within the organization are well managed and controlled. Signal word. Copying files from PC - file structure How do I copy files to the 8.3? Company Registration No: 4964706. Nokia is divided into four main departments where every department, also called business group, is given some mandate to undertake, the departments are Mobile Phones; Multimedia; Enterprise Solutions and Networks; other than the departments, the company has two horizontal departments as Technology Platforms and Customer and Market Operations. The new organization structure focused more on power, resources and products. The solutions unit works with other departments in close proximity to provide such solutions. Do you have a 2:1 degree or higher? Through the 19th century the company expanded, branching into several different products. The other significant department is Markets which acts like a supply chain department for Nokia. Nokia shifted to the matrix structure. Nokia Organizational Structure. es NOKIA WEAKNESS The state or quality of being weak is the definition of weakness and therefore any organization, company and even people do have weakness. The company faces stiff competition in the business oriented mobile phone market from RIM’s Blackberry series. Unfortunately, your browser is too old to work on this site. The large number of staffs at Nokia and different management and supervisory levels offers Nokia a tall organizational structure. (2011). Figure 1 – … Nokia’s organizational structure is horizontal and it allows for greater flexibility and speedy communication channels between different departments. If we closely analyze the net debt to equity ratio for the 5 year period we see that initially in the years 04, 05 06 and even 07 the company had surplus assets over total debt. Bridging organization theory and supply chain management: The case of best value supply chains. It contains thousands of paper examples on a wide variety of topics, all donated by helpful students. Nokia does not have a policy concerning the combination or separation of the roles of the Chair of the Board and the President and CEO, but the leadership structure is dependent on the company needs, shareholder value and other relevant factors applicable from time to time, while respecting the highest corporate governance standards. According to sources (Nokia, 2014) Nokia has been distributing dividends till the fiscal year 2011 NOK-US paid a high quality dividend, which represents a yield of 16.4% at the current price. The renewed governance will expedite decision- making and improve time-to-market of products and innovations, placing a heavy focus on results, speed and accountability. For full functionality of this site it is necessary to enable JavaScript. Its rapidly growth in the 1990s coincided with a basal structural change of the Finnish economy and industry. IvyPanda. Because Nokia owns substantial assets in foreign markets therefore the company has to hedge and protect itself against the potential of currency adjustments in the negative direction. In the navigations and maps market Nokia, like the traditional manufacturers such as Garmin, TomTom, faces tough competition from the Google and Apple partnership that will make the iPhone the ultimate navigation and smart device for this generation. Nokia is a Finnish technology and multinational communication company. The firm has registered a sale of 30 million Symbian devices back in 2010 whereas only 60,000 phones were sold this time in North America, which was visioned as the key market of Microsoft. Developing new products has its own advantages but moving into new geographical markets can benefit companies from the all important concept of economies of new scale. On the other hand, organisational culture is brought from the practical experiences from the organisation and learned from the organisational job. The corporate development department looks for future growth opportunities and it also plans for future strategic actions that will give the company a competitive advantage against competitors. New York: Ross Publishing. In countries like Finland, Europe and some African countries, the company’s products are seen everywhere and the markets are slowly growing. The reluctance in the innovation has resulted to Nokia–Apple patent dispute; it has also seen the company become a technology copier (McFarland, Bloodgood and Payan, 2008). The case of Nokia is no different the company has successfully established itself as one of the most reliable and advanced manufacturer of mobile devices. (2006). On the other hand equity has its own advantages such as no finance costs; in case of bankruptcy the claim of common shareholders is last only after other creditors have been paid out. To change organisational culture is difficult and it takes time. The last day of trading of these SDRs was June 1, 2007. "Nokia Organizational Structure." As previously announced, Nokia agreed to sell HERE, its mapping and location services business, to a consortium of leading German automotive companies. The solutions department ensures that it continuously develops solutions whereby ensuring that a particular mobile device has integrated contents and personalized services and the output of these three components results into a leading mobile phone for the end user. In the late 20th century, the company took advantage of the increasing popularity of computer and mobile phones. As demonstrated by Nokia, restructuring won’t cure an organization’s ills when approached from the same mindset that created the current problems. Nokia Weakness. Your privacy is extremely important to us. The success of an organization depends on how well physical and human resources of the organization have been organized and managed. What is evident here is that consistently the Nokia stock has out performed the S&P 500 for most of the time period under discussion. The new products are likely to b ea driving force for the company; Apple Inc. with the invention and invention of IPods and I-phones the company was able to control a niche market; a diversion from its main line of business that was desktops and computer software development. This leadership even gave them the possibility to stay in front of all other competitors during the growing adoption of smartphones. Taylor, G.(2008). "Nokia Organizational Structure." If we look at the table above we see that for the period 2004-08 the average R&D expenditure as a percentage of sales was around 11%. The difference between diluted and basic average number of shares was negligible during all the three years stated above. Structure is only one piece of the puzzle, and it depends on the unique strategy and complexity of each … This also explains that as years have passed by liabilities have been increasing used as a way of financing assets. Looking for a flexible role? Under the policy; transactions which are considered of material value are hedged against foreign exchange exposures as long as the hedging tool is not uneconomical i.e. Today’s complex, rapidly changing world requires a new operating system that provides organizations with the structures and processes to optimize their current core offerings, as well as the flexibility to develop new processes while responding to market changes. Nokia has a human resources management department with the role of ensuring staff needs have been addressed effectively, the department has the role of ensuring that the company has the right number of human capital at the right time at an appropriate cost. New York: McGraw-Hill Irwin. December 6, 2019. https://ivypanda.com/essays/nokia-organizational-structure/. In 1984, Nokia acquired Salora and changed the name of its telecommunications unit to Nokia-Mobira Oy. Nokia lost a lot of Market share to Samsung since the introduction of Android.Nokia tried to compete with its own Symbian OS but it failed badly. The company currently enjoys a market share of about 37% and aims at increasing the market share to over 40% by the end of 2011; however, the company is facing a number of strategic issues, which has made its profits and sales reduce in the recent past and overtaken by Apple Inc. products. 31 - 40 of 500 . A lot of stakeholders were upset and people in top management left the company. For the year 2010 Nokia expects its mobile device market share to be flat compared to 2009, a similar sort of expectation also exists for Nokia and Nokia Siemens Networks as the venture sees a minimal increase in euro terms for the mobile and the fixed infrastructure services market. Nokia Corporation’s shares are listed on the following stock markets: NASDAQ OMX, (Helsinki), Frankfurter, and New York Stock Exchange. With the current success in the international markets, Nokia should be thinking of a brand extension approach: brand extension is a marketing tool used to market products using the strength of an existing brand. DRIVING CHANGE “Our new strategy is supported by changes in Nokia’s leadership, operational structure and approach. It reported annual revenues of around €12.73 billion by conducting sales in more than 151 countries. *You can also browse our support articles here >. We're here to answer any questions you have about our services. Chart 2 The structure is only there to ensure that there is good management and processes within the organization are well managed and controlled. The Nokia Corporation Annual General Meeting held on May 7, 2013 resolved that no dividend would be distributed for the fiscal year 2012. 2007 was considered one of the best years in Nokia’s history not only did the stock do well but the company’s other major indicators were in green as well. professional specifically for you? Learn new and interesting things. Nokia is an international phone company, with its headquarters in Finland. 5. Though this cost is offset by the point that today’s financial markets are so dependent on each other that market risks are almost similar in virtually all countries and their stock markets. The main areas where this unit focuses on include messaging, maps, music, and Ovi developer tools. Supply Chain Contagion. In 2009, out of the total sales from the company Europe accounted for 36%, China’s share was 16%, Middle East & Africa 14%, North America 5%, Asia-Pacific 22% and Latin America 7%. From the table above we can see that the assets funded through equity has been on a declining run throughout the five year period. 1. • Nokia’s organizational structure is fluid, flexible and driven by the mentors in the organization, which is task or project-oriented. Nokia is an international phone company that is currently leading in the phone segment of the electronic market in the world; the company’s organizational structure has enabled it to command the success it has attained. The 10 markets from which Nokia generated the highest amounts of sales revenues are listed below in decreasing order; with the highest written first and lowest stated last: China, India, the UK, Germany, the United States, Russia, Indonesia, Spain, Brazil and Italy; when combined these markets provided 52% of the total sales in 2009. • It has introduced various innovative measures in its people process that helped achieve a positive employer image, create a platform for growth and development. (2019, December 6). Strategic management gurus are of the opinion that organizations that have well managed human resources have an asset over their competitors that can be used for a long time as a source of competitiveness. Overall companies are suggested to find an optimum equity and liability combination by working out the WACC at different levels. Our Group Leadership team is responsible for the operative management of Nokia. Free resources to assist you with your university studies! It has the mandate of planning, deploying, employing, training, retaining, and dismissal of employees. Nokia employs 50, 000 people in 120 countries. Nokia. We utilize security vendors that protect and Journal of Marketing, 72(2), 63-79. 4. Nokia Company Overview. As we see from the table that the value declined to 27.5% from 53.9% in 2007. Nokia’s strategy is about investing in and ensuring Nokia’s future. NAVTEQ is an important part of Nokia’s operations since it provides downloadable maps and other content that will enhance the experience of consumers who use Nokia’s smart phones. Purpose. This department also provides operational supports to other core departments such as Devices, Services, Solutions and markets. The Nokia Company is today one of the world’s leading high tech companies. Similarly the company complies with all stock market requirements of the Helsinki stock market, New York and Frankfurt stock exchanges. Espoo, Finland - Nokia today announced changes in its organizational structure and Group Leadership Team (GLT), effective from April 1, 2017. The company has its main operating base at Asia, North America and Europe, however these markets are becoming saturated with phones and the markets seems not to be growing. focuses on Nokia and aims to find out whether the conclusions of the SOMO report and the publicity that followed afterwards had any harmful effects for the reputation of Nokia among consumers in The Netherlands. Problems at Nokia Nokia, considered to be the pioneer in smartphones and a global leader in the mobile phones market, started to face severe challenges to its dominance in the smartphone market in 2007. If you need assistance with writing your essay, our professional essay writing service is here to help! In the recent past, the phone industry has experienced a massive development, other companies like Apple Inc. and Samsung have pioneered however, Nokia, and it have not pioneered the development. Nokia ursprünglich ein finnischer Holzstoffhersteller, der sich zu einem Mischkonzern und ab den 1970er Jahren zu einem Telekommunikationsunternehmen wandelte galt ab Anfang der 1990er bis Mitte der 2010er Jahre als weltweit bedeutender Mobiltelefonhersteller und war von 1998 bis 2011 Marktführer in dieser Branche. All work is written to order. Ketchen Jr., G., & Hult, T.M. Any opinions, findings, conclusions or recommendations expressed in this material are those of the authors and do not necessarily reflect the views of UKEssays.com. Info: 3366 words (13 pages) Essay When managing human resources, managers ensure that they understand the needs of the human resources and their motivations, when they are well managed, they are sources of creativity, innovations and innovation. 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