Q The key objective of assignment is to analyze the factors responsible for the largest mobile phone company Nokia Home, - Nokia Introduction Objective of your study- The key objective of the report is to analyze the factors responsible for the largest mobile phone company Nokia to get bankrupted. The report will further help to find out possible solutions that can be useful forother companies, during similar adverse financial circumstances. Why are you investigating- The primary motive for this investigation is to study the bankruptcydetails of Nokia. For this purpose it is important to find out the basic reason for the bankruptcy of Nokia, whichmight include: i) lack of marketing knowledge; ii) failure to implement the latest software; and iii) overestimate its strength and popularity. First, with increase in competition from other smart phones like Apple, Samsung it is important to identify, what are the urgent requirement for Nokia to improve its marketing strategy? Second, the company always gave prior importance to the hardware engineers and marginalized the software experts (Kurikka, Kolehmainen, &Sotarauta, 2017), still what went wrong with the market innovation? It was also unable to identify the increasing need for transforming the mobile phone into a smart phone, which is considered to be the major reason for its failure. Identification of this factor is of significant interest in this consideration. Third, the company had overestimated and overrated the brand’s strength. It believed that despite of being late into the smartphone industry it can easily and quickly catch up with its competitors (Laamanen, Lamberg, &Vaara, 2016). However, in the year 2011 it embraced the Windows phone in its operating system which proved to be fatal. Here, it is important to identify, why company adopted such decisions. What are you going to focus on- The focus of this report will be on analysis of biases that are responsible for the failure. According to a study, most of the top executives in Nokia were of same background and age group. This made them to create biasness with the other employees in the workplace. The first kind of biasness observed in the company was Recency effect, which usually occurs as an effect of the most recent activities (Kalm, & Norris, 2018). The focus will be on, what are the impact of such biases and why the company didn’t rectified this in time? The second kind of bias observed in Nokia Company was in-group bias (Han, 2018), where the managers or top executives show their favoritism towards some particular employees and ignoring the remaining. These biasness are not culturally bound as in most of the MNCs, the employees are from different cultures. Here, the focus will be on, what the bias have as impact on the judgment and decision making? Is this responsible for creating lack of coordination between manager and employees with decreasing work quality? What contributions do you expect/hope to make- The investigation and research on the reasons behind the failure of Nokia made in this report would help other companies (new or existing) to sustain and compete in the technologically growing market. Analyzing the failure of Nokia the CEO of Microsoft decided to bring certain changes in the company’s culture and making employer empowerment as the core value. This can be useful for similar companies for preparing their future strategies. Short overview of what you will write in the rest of the report- The report will comprise of detail explanation of each department of the Nokia Company by relating to different organizational theories like classical theory, neo-classical theory, and modern organizational theory. The issues described above will be further described and related to these organizational theories for further analysis. Recommendations for improvement and future research scope will be discussed in this report.
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