Management strategy and practice of the nokia corporation ltd

INTRODUCTIONNokia Corporation Ltd is unmatchable of the top intimately quick phone manufactu besiege companies. It manufactures a wide range of mobile phone hand serves that befit and satisfy consumer demand. It is based in the South westmost part of Finland.ORGANIZATIONAL STRUCTUREWith its military headquarters based in Singapore, Nokia Corporation operates in assorted geographical locations. The enterprise is further categorized into different trading segments with all(prenominal) specializing in specific operationsNokia Treasury Asia This is based in the headquarters and serves the grasss subsidiaries of the Pacific (Asian). This region serves as the banking unit by providing a wide range of financial services.Japan/ China region These regions delineate in Research and Development. It is the epicenter of new innovations/technology and new stigmatize implementation.Within the Americas region, Nokia Corporation has assembly, IT solutions and program design business units .In general, the partnership has a flat organizational structure. This is because of few levels of perplexity (about six). The chairman, who manifold as the President is deputized by the vice Chairman (Vice President). This Manager has alone four executives below him. This structure is a form of dodging for the corporation as it reduces bureaucracy and enhances both the flow of information and the decision- reservation process.NOKIAS INCOME STATEMENTSThe most recent quartes Revenue is 9,856 millionThe net income figure during the same diaphragm was 979 million.The go withs current stock charge as at 11.03 AM, 07/19/07 is $ 29.81.The previous price was $29.73. I expect the stock price to grow in the next quarter. This is due to the high demand of the companys stocks due to its high profitability and performance in the burgeon forth Market.FINANCIAL STRATEGIESThe Corporation operates in patents and rights. These include the GSM/WCDMA and CDMA2000. These drive led to advant ages like simplification of production and operating costs. The management of the company uses internal growth/ financial support that is expensive in terms of interest charges. Because of this, it issues ordinary shares when finances have to be raised. It also uses its retained earnings which are sufficient owe to its optimal dividend policy.In entrap to increase its profitability and market share, Nokia Corporation has entered into a joint venture with other telecommunication companies like Sanyo.And in order to attract a competitive advantage over other companies in the industry, Nokia Corporation has em deflectked on acquisitions. An example is Intellisync plc in February 2006.Another of the firms strategy is that of mergers with other telecommunication companies. This has seen the company merging with Siemens AG in June 2006. This according to the management will give the company enviable interactional advantages such as decrease of operating expenses. It would also enable the company tap more expertise as well as bar new entrants from joining the industry.The investment division carries out financial plans and abridgment before undertaking any financial ventures. This is geared towards lay on the line reduction and investments on projects that stinker only yield positive net benefits in present value terms.Through the Finance Department, the company also carries out esthesia abstract to determine the effect of changing certain financial parameters on the outcomes. These include the discounting rates, economic life of projects,e.t.c.In order to reduce its financial risk Nokia corporation diversifies its investments by investing in a portfolio form. These range from treasury bills, to mutual funds and other long-term projects.MANAGEMENT STRATEGIES.One of Nokia Corporations management strategies is brand/design. The Corporation is the leading in in product modification, producing a wide range of Nokia handsets. It is through this that a company s ubstructure take on the loyalty and confidence of the customers. The phones also have very fascinating ring tones, games and even internet solutions. They have designed them in a charge that they are user friendly.The human resource department of the company comprises of go through and highly practiced and motivated staff. The firm employs better recruitment and extract methods in fulfilling the staffing function.The management of Nokia carries out frequent environmental surveys to determine what they can be able to explore from the environment( opportunities) and what dangers the same environment poses on it (threats). This analysis is important because through it, Nokia corporation identifies the strengths at its disposal that can enable them make use of the opportunities. They also determine their weaknesses and how these are likely to interrupt their success.In order to avoid high labor turnover especially skilled and expertise, the company adopts betters and attractive wa ge packages for its employees and other perquisites. They are also actively involved in core decision making processes thus making them feel part and parcel of the organization. When it comes to fight resolution, the management uses the collaborative trend to resolve organizational conflicts. These tend to give both parties in conflict a win-win situation by giving every party embody satisfaction.Another Nokias management strategy is sentence management. In the Nokia operative environment, time is the most essential asset. This resource is highly valued as lightheaded capacity is costly to the organization. The management, in a chart form has place down ways in which staff and all other employees can be able to properly manage time. Every employee is required to set his/ her objectives which he/she wants to accomplish. The goals have to be prioritized with each employee having his own individual working schedules.REFERENCEShttps//www.finance.com/credit-cards/compare-credit-ca rds/citi.action?ID=most-popular-credit-cards