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Week 5 Team Project: Loss Of Competitive Advantage

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Week 5 Team Project: Loss of Competitive Advantage
Learning Team 3: Katina King, Keisha Echols, Michelle Prince
Brenau University

Week 5 Team Project: Loss of Competitive Advantage
Historical Overview At one point in time everyone who owned a cell phone, held one with Nokia stamped on it. Nokia was consumer’s introduction to the wireless world. What many are not familiar with is the fact that Nokia’s history dates back to 1865, way before cell phone technology was invented. A mining engineer named Fredrik Idestam started his first wood pulp mill in Southwestern Finland. A few years later in 1871, he started a second mill and named it Nokia Ab. 102 years later, in 1967, Nokia Corporation took its current form as a result …show more content…

As a result of a decrease in sales and its poor financial performance, Nokia’s brand equity eroded and subsequently lost 30% of its value (Marketline Advantage, 2014). While blindsided by its decline in competitive advantage, Nokia did not respond aggressively or quickly enough to manage the threats they were presented with until it was too late (Anwar, 2014). “Despite being one of the early entrants in the market and sensing several trends that made later the success of some of its competitors, Nokia could not implement these innovations quickly enough” (Dziri, 2011 p.27).
Nokia’s Analysis Report in Comparison to Its Chief Competitors
Nokia currently has three chief competitors: Apple, HTC, and Samsung. All these firms operate in a similar market, offer similar products, and targets similar customers. It should also be noted that Nokia engages in multimarket competition because it competes with these firms in several products and geographic markets (Hitt, Ireland, & Hoskisson, 2013). For the purpose of this paper, a competitor analysis will be conducted to assess the present state of Nokia. Figure 1 gives a visual of the information that will be discussed. Note that the financial information is according to Yahoo Finance. …show more content…

Nokia’s new strategy focuses on its mobile telecommunications infrastructure business. They named Rajeev Suri the new chief executive. Since Suri is a former CEO of Nokia and his tenure resulted in a transformation of Nokia becoming one of the leaders in the telecommunications infrastructure industry. The company feels that his expertise can lead the new strategy to expand on Nokia’s three strong businesses in networks, location and technologies. Nokia’s strategy includes more investments in HERE, the development of new products and services needed by telecommunication operators and expanding intellectual property licensing programs (Nokia Corporation,

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