Evaluating Nokia company
Since the invention of mobile phones, Nokia has been a major player in the worldwide telecommunications industry. Over the ages, it has had significant success and expansion to the point that it decided to diversify its business operations by founding Vertu, a new producer and retailer of high-end mobile phones made of titanium, sapphires, diamonds, and exotic leather. Prior to Stephen Elop, the then-CEO of the company, introducing an unproven Microsoft Windows phone as the primary operating system for Vertu productions which led to a significant fall in the company’s success and change was thus inevitable. Focusing on the Vertu’s SWOT analysis and Nokia’s mission statement is crucial since these approaches played a substantial role in the experiences that Vertu offered the public.
SWOT Analysis for Vertu
Strengths
The significant strength of Vertu productions is the exquisite design that was incorporated into the mobile phones. The gadgets were designed in such a way that they could offer its users exceptional comfort during communication and regular operations which made it possible for Vertu to amass a huge following of customers as discusses. The luxurious materials integrated in the devices further improved the mobile phones' quality, for instance, most of the phones were made of the sea of sapphire that is highly resistant to tear and ware making the phones long lasting. This strength was unique and crucial, and it is the main reason why Vertu excelled greatly.
Weaknesses
However, the firm had a weakness in that it had embraced a series of value added services such as Vertu Select without taking an initiative to explore the demand and the availability of such services in the market. Many similar services were readily available and accessible in online networks. This situation, therefore, indicated that the Vertu had a weakness in proposing a more competitive service and a unique one compared to the services provided in the online platforms.
Opportunities
Vertu had many opportunities that led to its success and growth especially by opting to venture into production of luxurious mobile phones. During the establishment of the Vertu Corporation, the telecommunication industry had not advanced to the creation of such goods. By Vertu opting to invest in luxurious mobile output, it gave the company an opportunity to access more market bases and customers that were intrigued by its designs. Despite the fact that other industries embraced Vertu’s technique later, Vertu had already created its brand and had easy access to many markets globally.
Threats
Threats were also investable especially when the mobile phones' industry shifted to the adoption of touch screens for smart phones. At that given time, Vertu had not incorporated this design in its mobile phones hence Vertu had no new device with such design to launch. Many of its competitors had adopted either Android or windows phone, and this posed a threat to Vertu causing the company to consider using Microsoft Windows Phone as its main operating system which eventually facilitated the decline of the company’s once celebrated success.
Nokia’s Mission Statement, Values and Goals
Nokia’s mission statement had also played a considerable role in the firm’s success, and it states that “everyone has a need to communicate and share. Nokia helps people to fulfill this need and we help people feel close to what matters to them”. Evidently, the aspects included in the mission statement act as the company’s drives as it focuses on customer needs and satisfaction, a factor that makes it possible for the firm to design devices that can help customers achieve efficient communications and interactions with each other. Additionally, Nokia’s guiding values include challenge and achievement that give the company the motivation and desire to focus more on becoming outstanding and competitive in the telecommunications industry. These values and mission statement have also contributed substantially to Nokia’s goals and objectives that are directed towards helping people connect with each other more reliably and efficiently, anytime and anywhere.
Conclusion
Irrefutably, it is clear that Nokia Company had great visions and aspirations after the establishment of Vertu as further supported by the mission statement, values and objectives. The corporation had beneficial strengths and opportunities that saw it succeed excellently but the weaknesses and threats were also inevitable. Despite the downfalls encountered in the end, Vertu was a great and innovative enterprise in the telecommunications industry and it is crucial to acknowledge that Nokia’s role in the industry is remarkable.
References
Kwong-Kay Wong, K. (2011). Vertu: Nokia's luxury mobile phone for the urban rich. Watertown: Harvard Business Publishing.
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