The Nokia Business Model Essay

903 words - 4 pages

Nokia is a world leader in mobile communications, driving the growth and sustainability of the broader mobility industry. Nokia connects people to each other and the information that matters to them with easy-to-use and innovative products like mobile phones, devices and solutions for imaging, games, media and businesses. Nokia provides equipment, solutions and services for network operators and corporations. Nokia is a broadly held company with listings on four major exchanges. (Quote from Nokia's web site). By connecting people, we help fulfil a fundamental human need for social connections and contact. Nokia builds bridges between people - both when they are far apart and face-to-face - and also bridges the gap between people and the information they need (Nokia's Mission). I aim to find out what is giving Nokia their competitive advantage and how they have kept it. To find out I am going to be using many different sources. The main one's are Internet, Email, Newspapers, magazines, business library, mintel, business studies textbook etc. I have already sent an email to Nokia requesting information on how they have kept their competitive advantage. I chose Nokia because I am really into phone. I believe Nokia to make the best phone, and I would like to find out more about them.

What is competitive advantage? Competitive advantage is a distinctive feature that makes a business successful. It may result from innovation, reputation or relationship with the customers and suppliers. It must be hard for other businesses to copy or your competitive advantage will not last very long. To get it right, a business must carefully identify the people who will buy the product. Competitive advantage may show itself in the ability of the business to charge a lower price than other similar products.

The three main parts of competitive advantage are innovation, relationships and reputation.

Innovation - being the first with something new is a powerful way of being distinctive. For this to become a source of competitive advantage, a business must be able to: protect its invention or keep ahead of the game.

A new idea that everyone else can copy will never give competitive advantage for long. If the girl running taboo patented their product so no one else could sew pockets on pants, they could be on to a winner.

Jim Anderson, on the other hand, was developing competitive advantage in the way he was running the business. By overhauling the organisation, it becomes possible to produce more cheaply and meet customer needs more quickly.

Perween Warsi was on the constant lookout for new products that built on her reputation for quality. When S&A foods moved into Chinese meals, she used Ken Hom, the famous Chinese chief, to advise the company. Although many firms produce Chinese foods, Perween's mix of...

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