Staying relevant in a rapidly changing world
To mention that staying relevant in a booming and rapidly changing branch is important seems to be redundant. Still lots of companies struggle with staying relevant and adapting to changes in the market. For instance Nokia, in 2007 holder of half the global market share, lost its leadership position to other companies for instance Apple and Samsung. When different industries such as mobile telephony, mobile computers, the internet- and applications branch merged into one large multifaceted branch the need to keep innovating and adapting to the needs of the consumer increased substantially . Unfortunately Nokia executives couldn’t find a strategy to keep up with the competitors and their innovations …show more content…
Nokia should have started with creating a new or adapting the previous mission statement. The mission statement will make sure that all employees know the vision and direction of the company is. The next step for the Senior Management of Nokia is to define the strategic goals for the whole company. Middle Management has to set tactical goals for major divisions and fuctions, these goals and plans do not affect the whole company. This way different divisions within Nokia know what they have to do. Since every department has different tasks for which they need to know when and how they will execute the plan. Finally Lower Management of Nokia will need to set operational goals for smaller departments or individuals. Looking at the different levels within Nokia its visible that the operational, tactical and strategic levels were not in line with each …show more content…
The MBO system consists of four major activities: setting goals, developing action plans, reviewing progress and appraising overall performance. The link between contingency and MBO is that plans have to be reviewed from time to time to ensure that the plans are working.
Change, differences and adapting are key words in this case and the chapters. The world around Nokia changed, except Nokia itself, leading it to lose its large market share in the mobile phone branch. Not looking at the external and internal factors just keep doing what worked before, while the competitors changed to accommodate the needs of the consumer Nokia became outdated.
And the world changes fast, and the pace is increasing. In the book its clearly evident that not only the outside world or external environment changed. The internal environment also changed immensely. Management perspectives have come a long way from the Gerald Ford way of thinking , where projects were cut in insignificant tasks which were done by the same people every day. When the managers only told people what to do. Over the years the tasks of managers changed, managers on different managerial levels received more tasks such as planning, leading, organising and controlling. Another example of change and adapting to a changing world is the use of social media programs by managers, this couldn’t have worked 5 years ago. Since social
To mention that staying relevant in a booming and rapidly changing branch is important seems to be redundant. Still lots of companies struggle with staying relevant and adapting to changes in the market. For instance Nokia, in 2007 holder of half the global market share, lost its leadership position to other companies for instance Apple and Samsung. When different industries such as mobile telephony, mobile computers, the internet- and applications branch merged into one large multifaceted branch the need to keep innovating and adapting to the needs of the consumer increased substantially . Unfortunately Nokia executives couldn’t find a strategy to keep up with the competitors and their innovations …show more content…
Nokia should have started with creating a new or adapting the previous mission statement. The mission statement will make sure that all employees know the vision and direction of the company is. The next step for the Senior Management of Nokia is to define the strategic goals for the whole company. Middle Management has to set tactical goals for major divisions and fuctions, these goals and plans do not affect the whole company. This way different divisions within Nokia know what they have to do. Since every department has different tasks for which they need to know when and how they will execute the plan. Finally Lower Management of Nokia will need to set operational goals for smaller departments or individuals. Looking at the different levels within Nokia its visible that the operational, tactical and strategic levels were not in line with each …show more content…
The MBO system consists of four major activities: setting goals, developing action plans, reviewing progress and appraising overall performance. The link between contingency and MBO is that plans have to be reviewed from time to time to ensure that the plans are working.
Change, differences and adapting are key words in this case and the chapters. The world around Nokia changed, except Nokia itself, leading it to lose its large market share in the mobile phone branch. Not looking at the external and internal factors just keep doing what worked before, while the competitors changed to accommodate the needs of the consumer Nokia became outdated.
And the world changes fast, and the pace is increasing. In the book its clearly evident that not only the outside world or external environment changed. The internal environment also changed immensely. Management perspectives have come a long way from the Gerald Ford way of thinking , where projects were cut in insignificant tasks which were done by the same people every day. When the managers only told people what to do. Over the years the tasks of managers changed, managers on different managerial levels received more tasks such as planning, leading, organising and controlling. Another example of change and adapting to a changing world is the use of social media programs by managers, this couldn’t have worked 5 years ago. Since social