The business landscapes have emerged dynamic, adding to the incapacity of the business operatives to prevent changes. However, change control and change management must be introduced for the desirable performance of all the changes. The focus of this paper is to develop a business capstone project that is based on the Nokia company. All the analyses and recommendations developed for the paper are bound to Nokia company. With a comprehensive overview and background of the Nokia Corporation, it emerges certain that the company's productivity and overall performance are worth considering. For the analysis section of the paper, attention is laid to market performance, diversification, and expansion, SWOT analysis, PESTLE analysis, and performance based on the mission and vision of the company. The analysis sheds light on the rise and fall of the company. The diversification and expansion shed light on the company's partnerships, decisions and implications, and the key products that drive the company's rise. The SWOT analysis highlights the issues of the company's location, European economic turmoil, technology, and expansion. To understand the market performance, this paper highlights the market outlook for Nokia for using the years 2021 and 2023. The second central part of the paper presents the key recommendations that ought to be introduced to improve the performance and productivity of the Nokia company. Some of the key recommendations highlighted are broadly bound to the green economy, which calls for solar-charged laptops, expansion to Caribbean and African countries, and improved technology. The paper concludes by highlighting the main points in the analysis and recommendations sections.

ANALYSIS

Introduction

In the world today, business landscaping is exposed to imminent threats and opportunities from time to time. The factors such as technological advancements, organizational changes, pandemics, and globalization, among others, are behind the tremendous shifts in the business landscape. The Nokia company is one of the global companies that are worth considering—Nokia deals in mobile devices and all the converging communications and internet systems. The company comprises two-sided stories, one of its rise and another of its failure making it a suitable real company for reference in the capstone paper (Sulphey, 2019). The focus of the capstone project is to develop an analysis of Nokia's environment, including its technology use, financials, business processes, and management, among others, and provide a comprehensive recommendation for the underlying issues and opportunities at Nokia company.

Overview and History of Nokia Corporation

Emerging in the list of universally popular companies, Nokia was founded in 1865 in Finland. Before its fall, the Nokia company had emerged as one of the most prominent multinational companies and the largest in mobile phone manufacturing. Even though it has been a great market leader since its foundation, Nokia failed miserably as it missed out on its competitive edge and technological empowerment. Nokia operated on a famous slogan, "connecting people," adding to its superior global voice (Zaidi et al., 2019).

Nokia company was established by Fredrik Idestam and raised the name “Nokia” from its location of the second mil around the Nokianvirta river banks. As of 1865, its primary operations were aligned with the manufacture of cables and the trade of pulp and rubber. The company started by generating electricity through diversification and later transitioned to form three companies, including Finnish Cable Works, Finnish Rubber Works, and Nokia. The diversification marked the birth of Nokia in 1967 (Sulphey, 2019).

Nokia has its headquarters in Keilalahdentie and deals in mobile device manufacturing, with its operations in over 120 countries worldwide. The company's aspiration in working with over 125,155 employees worldwide is to deliver efficient and reliable products to deliver all communication needs for individuals. Its main agenda to meet individual communications needs is envisioned in Nokia's vision statement; "a world where everyone can be connected."

Nokia’s PESTLE Analysis

Political factors	With the unfavorable political situation in Finland, a European nation, including bailouts and special offers from the government, Nokia was forced to go the hard way and form an alliance with Microsoft (Zaidi et al., 2019). Based in a small country, Nokia company finds it hard to secure support from the government even during its hiccups, unlike other competing tech companies, such as Apple Inc, in the US.
Environmental factors	Environmentally-friendly approaches to waste disposal at Nokia company remain a significant issue. Especially for lithium batteries, safely disposing of them or recycling emerging challenging and costly for Nokia (Zaidi et al., 2019).
Social/Cultural factors	With the extensive use of applications and smartphones with popular operating systems such as Google's Android and iOS for Apple, Nokia has been hugely affected. As a result, the company was forced to partner with Microsoft and use Windows phones rather than Android to satisfy consumer needs. In countries such as the United States, the cultural phenomenon has created a generation of individuals who prefer using only one brand, the iPhone, from Apple, thus cutting a considerable market share for Nokia in the United States (Zaidi et al., 2019).
Technology factors	The market for mobile phones changed with the development of applications and open-source operating systems, including Android. As technology advanced, mobile phones were transformed into handheld computers offering services such as taking photographs, business functions, and watching. Nokia's customer base was limited, confined to the less popular window phone operating system. Similarly, Nokia has not optimally tapped into lucrative technology capabilities, including the 5G networks, wearable technology, and tablets (Zaidi et al., 2019).
Legal factors	Nokia operates within the European and is thus subjected to stringent EU policies. Any EU action taken against Google, which is a partner of Nokia company, could harm Nokia's performance.
Economic factors	The European downturn influenced Nokia’s performance by significantly reducing the company’s market share. Similarly, the economic turmoil across Europe significantly hit the home markets' buying power. Unlike other companies such as Apple, Nokia has had a rough journey tapping into the vast Chinese market. This shows that Nokia lacks funds and expertise to tap into new markets and new products, unlike its rival competitors such as Apple and Samsung (Grünewälder, 2014).

Table 1: PESTLE analysis for Nokia company.

Nokia’s Diversification and Expansion

Nokia had developed its own power plant and produced a range of primary products, including paper, cable, electronics, and rubber. Moreover, the company focused on other items related to its primary products, including TVs, communication cables, toilet paper, and rubber footwear. With its CEO Kari Kairamo appointed in 1975, the company's expansion journey started with reaching more countries, including Denmark, Sweden, and Norway, and gradually covering the entire European countries. As the market demand increased and the pressure to remain competitive emerged, Nokia focused on improving its product line for more superb quality and capacity (Bouwman et al., 2014).

The company's first achievement in telephone creation was made in 1979 when the Mobira Oy and the Nordic mobile telephone (NMT) service were created. Surprisingly, the Nordic Mobile Telephone service emerged as the first international cellular network to be used worldwide. In the 80s, Nokia launched the Mobira Senator, the first car phone. In 1982, Nokia came up with Nokia DX200, the first digital telephone switch. Nokia's expansion was a great move that continued to place the company in global popularity (Grünewälder, 2014).

Still, in the 80s, Nokia considered progressive diversification into additional sectors even though it already operated in a diversified company. The ideas for diversification that came up at Nokia company back in the 80s included machine engineering and plants for power, plastics, chemicals, capacitors, aluminum, and light bulbs. With the unrelated diversifications, Nokia wished to grow faster owing to the stable access to raw materials and other products that benefited its primary product line (Grünewälder, 2014).

The unrelated diversification strategy was a mitigation approach to economic fluctuations, which emerged fruitful in strengthening Nokia's position in the consumer electronics and telecommunications market. Diversifying efforts helped Nokia acquire Salora, Televa, Mobira, and Luxor in Sweden (Grünewälder, 2014). Amid the diversifications, Nokia did not exploit the opportunities for new and exciting businesses that were bound on high risks, such as fluctuations in materials costs. However, the diversification meant a promising future for the company’s growth.

The transition to electrical power was successfully achieved with the company adopting the spirit of innovation. The benefits of the company's growth into the international space included becoming a center of interest for the international financial markets. One of the remarkable scenes that accompanied the company's diversification was its inclusion in the Helsinki Stock Exchange in 1915, and later on, in 1983, the company was also included in the London Stock Exchange (Grünewälder, 2014). In 1994, Nokia company was included in the New York Stock Exchange.

To learn to acquire success in foreign markets, Nokia did not give up on its acquisitions with foreign companies. Surprisingly, new market entries into the telecommunications sector in Finland and the United States were realized as telecommunications grew. 70% of the net sales from the telecommunications sector 1988 were from outside Finland, showcasing the emerging strong power of the new market entrants. In 1988, Nokia became the most significant information technology company in Scandinavia. Following 1988, Ericsson's division of the data system (Bouwman et al., 2014).

Nokia was forced to move from technology-driven business concepts to market-driven concepts following the rapid rise in the globalized markets. Therefore, customer service management and individual employee performance for quality assurance emerged as critical competencies for the company’s logistics team. In the 60s and 70s, the waves of acquisition from other companies worldwide increasingly influenced Nokia's business operations owing to the rapid growth of conglomerates and unrelated diversifications (Grünewälder, 2014).

In the 1990s, Nokia's management was involved in chaotic and insecure management operations that could have risked its prominence globally. The wrangles in the management were attributed to the conflicting interests on the two company pillars, including telecommunication and mobile phones. As a result, other non-core products and unrelated businesses were eliminated following CEO Ollila's decision to have Nokia's core business bound on telecommunications and mobile phones only (Bouwman et al., 2014). Amid the CEO's decision, Nokia's popular strategy involving "Focus globally, Telecom-oriented, high value-added" came to light.

The key repositions for Nokia company included the business areas and global growth. The strategic decisions made in the 1990s contributed to the company's triumphant popularity and prominence around the globe. Essentially, the major digital systems in the globe acquired their mobile phones from Nokia Mobile phones in the 1990s. The company's first Global System for mobile communications (GSM) involving a hand-portable phone was created in 1992. The GSM text message was conveyed in 1993. With extensive research and developments between 1990 and 1999, the Nokia company transitioned to a recognizable telecommunication sector position.

Performance Analysis in The Light of Nokia’s Mission and Vision

While operating in mobile device production, the Nokia company has recorded impressive results in fulfilling its mission and vision. The company enjoyed significant market dominance until its untimely fall, with all the market segments generating the projected revenues. The company had significant market shares in the Asian and African markets of about 40% and 50%, respectively.

However, the North American and European markets remained challenging for Nokia, even with the company controlling 20% market dominance. Technically, the North American and European markets were subjected to tight competition from other key players, including Motorola and Apple. With the constant adjustments experienced in consumer preferences and the global network infrastructure, Nokia has occasionally struggled.

The company's " Connecting People" mission statement is one of the most straightforward and outstanding. Nokia's vision is to build superb mobile products to suit consumer needs. The vision shows that the company dramatically emphasizes the section of phone production and considers it the fundamental business segment for Nokia. The vision statement is deeply related to the needs of the company's target audience/customers for its products. It explicitly describes that the Nokia company is up to the task of offering the best connection experience among individuals through the mobile phone devices produced (Fakhrutdinova et al., 2015). Nokia's primary purpose for its operations is to produce phones and equip billions of people across the world with critical life opportunities accessible through the use of mobile phones.

Nokia is impressively organized to align with the marketing principles and values, including product development, innovation, personnel response, and focus on research and development ideas for the company. In this case, the company was able to secure more markets across the world before its failure. The company's prevailing market remains ever competitive and fiancé with many companies such as Apple and Samsung operating in telecommunications. As a result, the company is forced to continually adjust its strategies and policies for the operation to keep up with the market dynamics (Fakhrutdinova et al., 2015).

Upon its reawakening, Nokia has continued to establish more collaborations with companies operating in the same line of products to remain competitive and prominent in the global market environment. For example, Nokia has partnered strategically with Microsoft to equip itself with the appropriate software for effective competition.

Nokia believes that technology is the fundamental solution to the stalling productivity and stubbornly unequal opportunities around the globe. Nokia's new purpose is aligned with the need to restore growth in productivity for inclusivity in healthcare, education, markets, and at work. Nokia's technological efforts are motivated by the need to bring the world to an ordinary act through critical networks connecting devices, machines, and people.

The company has been struggling to strengthen its prominence as a trusted partner when it comes to critical networks. Technology leadership has been a great phenomenon for Nokia’s business segments, including the move to the cloud and the new models for business. For long-term success, Nokia now focuses on a long-term research and development agenda aided by the value of its intellectual property. Nokia's culture involves guaranteed openness to continuous developments. With the refreshed ways of working at Nokia company, the culture also revolves around empowerment towards accountability and courage in experimentation (Fakhrutdinova et al., 2015).

In line with its three-phased approach, Nokia has put in place new models of operation that aim at eliminating perceived operational complexities and increasing accountability. Also, Nokia's new operating model allows for secure competitiveness in mobile networks, redefining the cost base and refreshing all the ways of working. Through enhanced technology leadership, Nokia has improved its competitiveness and fostered its growth margins since 2022 (Fakhrutdinova et al., 2015). Similarly, efficiency in exploiting emerging opportunities, automation, and operational digitization for Nokia company has been helpful.

Sustainability is a fundamental belief of the Nokia company, where technology and connectivity are the key solutions to future global problems. Nokia's sustainability strategy fosters lives through culture, integrity, and an agreeable climate. For example, Nokia aims to minimize emissions by 50% between 2019 and 2030. In this case, Nokia builds on its corporate social responsibility (CSR) by reducing emissions during the production of its products and the environment, which negatively influences the climate (Fakhrutdinova et al., 2015). When it comes to integrity, Nokia company is recognized among global companies with robust ethics. Finally, inclusion and diversity remain fundamental frameworks guiding Nokia's operations.

Nokia company is operating on an updated policy for dividends. The new dividend policy considers the growth in the regular dividend payments based on the earnings made in the preceding year, the overall business outlook, and the prevailing financial stability of the company.

Market Performance

Before the company failed, it had been a leader in the electronic industry, with increased innovations and ventures steering upward growth internationally. Other aspects that led Nokia company to become the world's largest producer of mobile phones is the company’s continued impressive leadership experienced through the growing company’s strength and innovativeness.

In 2010, Nokia made an amazing 31% market share even though it reduced to only 30% in the last quarter of the same year. The potential factors behind the failure of the company's market share are the company's aggressive marketing strategies and selling approaches that the competitors, such as Google, Android, and Apple Inc companies, had adopted. To increase its market, share in the electronic industry, Apple diversified to the line of iPods and laptops.

In the market, diversification remains a critical agenda for Nokia company. For example, the company has continually diversified its customer base to cover more than just the network service providers. On its customer base, Nokia has included industrial customers working with the customized private 5G networks in the power plants, mines, and utilities, among other areas of their operations.

With the world economy estimated to be about 30% digitized in relation to the anticipated full digitization potential, consumer needs are rising for Nokia company to cover the complete digitization of the world economy. By last year, it was forecasted that Nokia would achieve 924.6 million euros in operating costs. Surprisingly, the company unexpectedly achieved an operating profit of 1.15 billion Euros, a rise from 908 million in the preceding year (Lamberg et al., 2021).

Despite its previous failure, surpassing the forecasted profit level was an excellent achievement for Nokia. In 2023, the market demand for the company's products remains robust amid uncertain economic circumstances, including inflation and new policies for the COVID-19 pandemic recovery. In this regard, the Nokia company now estimates to achieve a full-year net sales of about 24.9-26.5 billion Euros which accounts for 2%-8% growth (Lamberg et al., 2021).

To improve its market performance in terms of profitability, Nokia has established Capital Markets Day 2021. For the company's growth in profitability, technology leadership, and sustainability, Nokia works on a three-phase journey involving resetting, accelerating, and scaling (Lamberg et al., 2021). As it held it is Capital Markets Day 2021, Nokia reiterated the long-term trends in marketing and its subsequent positioning for improved value creation in the dynamic market environment.

In the modern digitalized world, Nokia has been striving to create sustainability, adaptability, and profitable growth. Nokia has focused heavily on resetting its business operations, accelerating competitiveness, and scaling up its leadership in the telecommunications market environment. The company's President and CEO, Pekka Lundmark, reiterates that Nokia aims to achieve double-digit margins of operations at the end of this year.

The CEO is proud of the newly established business groups at Nokia, including the cloud and network services, mobile networks, network infrastructure, and Nokia technologies formulated regarding customer purchase behavior. The new Nokia business groups are a transition from the end-to-end framework. For each newly formed business group, there are specific targets and robust strategies to facilitate technology leadership for the company, as has always been the case in the past (Lamberg et al., 2021).

Transparency over the new business groups has been critical for the company. The financial outlook for Nokia suggests that all the newly formed business groups have a primary role in shareholder value creation. Since 2021, Nokia's business groups have been delivering incredible value towards allocating capital and technology leadership. As a result, Nokia was able to improve its profitability for the year 2022. To continually build the company's profitability, each business group is expected to create more returns on the capital employed (ROCE). The forecasted ROCE for the business groups should be above 7%, which is Nokia's Weighted Average Cost of Capital (WACC) (Teixeira, 2015).

Table 1: Comparable operating margins for Nokia.

From 2020 to 2023, Nokia's market was projected to grow at a compounded annual growth rate (CAGR) of about 1% (Teixeira, 2015). The estimates included in the projection of the 2023 outlook include the following;

Network Services and the cloud for the company with an estimated CAGR of 2%.

The mobile networks for Nokia, whose estimated CAGR was 1%.

Nokia’s network infrastructure with an estimated CAGR of about 2%.

Therefore, Nokia's financial outlook for 2021 and the projected outlook for this year, 2023, are represented as follows;

Table 2: Nokia’s 2021 and 2023 financial outlook.

SWOT Analysis

Strengths

Weaknesses

Opportunities

Threats.

The company's brand name, "Nokia," is internationally recognized.

Similarly, all parts of the world have a great recognition of the products, especially the mobile phones that the company deals with. In the modern digitized world, the use of mobile phones is increasingly becoming a norm (Grünewälder, 2014).

The company has strong and reliable internal managerial mechanisms.

Even with all of the company’s products fitted with unique and amazing features, they sell at affordable prices.

Nokia's marketing campaigns are weak since they only focus on advertising and selling phones without considering other companies' products.

Nokia's product development rate is surprisingly slow, thus negatively impacting its market share and prominence. For instance, Nokia has been developing its products after they are already in the market from other market players such as Apple.

Nokia is emerging incapable of defending its title as a market leader in developing technologies as it is fond of copying and improving technologies already in the market (Grünewälder, 2014).

Nokia company has an opportunity to venture into the production of more products, especially those related to mobile phones that can be used as a way to increase sales and revenue.

Even after it failed back then, Nokia could potentially exploit the opportunity for a favorable competitive environment where all players in the market are required to improve their competitive edge (Grünewälder, 2014).

Globalization is creating an opportunity for Apple to expand its market share in more countries across the world with improved products to enhance customer loyalty and retention.

The 5G and all the related technologies are building grounds for web scales and enterprises for Nokia.

There are increasing cybersecurity dangers, including social engineering which emerges as a threat to the mobile phones that Nokia company deals with.

The electronics market is increasingly dynamic, with new technologies emerging from time to time and thus the possibility of some of the company's products becoming out-fashioned.

Similarly, the new players in the market are aggressive in their marketing efforts and are producing consumer-targeted products making Nokia to shed some of its customers to the new companies in the market.

New market entrants who are superior and deal in a broader line of products are taking over the telecommunications industry, such as Apple Inc (Teixeira, 2015).

Nokia is exposed to a threat of complete closure as more powerful players such as Apple are taking over the market.

RECOMMENDATIONS

Improved Technology

Amid the rapid technological advancements in the world today, Nokia company would consider increased adaptability with the current technology trends. For instance, the company would consider the fiber-to-the-home access framework, among other emerging transport technologies, for a seamless consumer experience in the workplace and at home. Essentially, the adoption of the transport technologies at Nokia company would lead to the creation of a "gigabit society" provided that the mobile 5G is actively engaged (Hussein, 2020).

The connected digital enterprise will enable the company to realize improved productivity, safety, and efficiency for all its business operations. Considering that the 5G market peak might serve consumer interests for double the time it took for the 4G market, the next-generation access adoption at Nokia company will be unimaginably productive. With the 5G connection under all the market segments for Nokia, it will be easier to create the most outstanding products, connectivity, and services (Hussein, 2020).

Green economy

In the dawn of the changing global needs, it would be recommendable for Nokia company to expand its market portfolio. Even though the company is well-equipped with customer-focused products, there is a need to innovatively create a greater pool of products that will help increase its market share. This raises a need for Nokia to venture into the green economy, which is taking over the global space (Albekov et al.,2017).

As an idea for a green economy, Nokia company may consider venturing into the production of laptops that are solar-charged as an approach to reduce the consumption of electrical power from other sources. With the solar-charged laptops, the company will have immensely contributed to CSR by helping conserve the water used in the production of electric power. With the deteriorating climatic changes, conserving the water would mean improving lives as more of the water gets into agricultural activities for food security. With the introduction of e-learning, e-commerce, and remoting working, among other technology-based operations in the world today, many people are continually in need of laptops and other mobile devices. Producing more of the solar-charged laptops will offer the best experience to the users while saving on the energy utilization (Albekov et al.,2017). The idea of solar-charged laptops would particularly target the countries exposed to long durations of solar energy and offer huge potential in the laptop markets.

Producing solar-charged laptops would require photoelectric cells embedded in the laptops to facilitate self-charging any more when they are exposed to solar energy. Therefore, Nokia would still exploit this opportunity and venture in the production of photoelectric cells to facilitate constant supply from their own plants rather than acquiring from external vendors. Thus, Nokia would be in a position to defend its competitive edge with no risks of vendor price fluctuations in the market.

Expansion

Considering that some markets, especially in the African and Caribbean countries, are still developing and the use of electronic gadgets is not fully-achieved, Nokia could consider exploring these potential markets. The competitors in the market, such as Apple, have taken over a significant volume of the European and North American markets while little presence is denoted in the Caribbean and African markets (Singh, 2014).

Thus, it would be recommendable for Nokia company to venture and dominate the African and Caribbean markets. One of the significant strategies that the Nokia company could use is to look at the needs and interests of the low-income earners in these countries and consider producing electronic gadgets that perfectly fits their financial state. Similarly, Nokia may consider partnering with Non-governmental organizations to help fund the production process of electronic gadgets for people from third-world countries (Singh, 2014). Even in third-world countries, there is increased use of e-commerce, e-learning, and remote working despite the inability.

Ethics and Leadership in Nokia Company

Ethics and leadership play an important role in modeling the corporate culture and success of Nokia as a well-recognized multinational tech organization. For several years, Nokia has always stressed ethical behavior and more responsible leadership in its entire operations (Chikeleze & Baehrend, 2017). It has a rigorous code of conduct that highlights principles such as transparency, integrity, and upholding respect for human rights, evidently showing its commitment to ethical conduct. Its code of conduct guides the company employees in every department by ensuring that all of them observe and uphold ethical decisions in their daily operations at the organization. Moreover, the company leadership has a clear understanding that ethical behavior is a moral duty and very critical in maintaining trust among the customers, partners, and company stakeholders.

The company leadership team is a reflection of transformational and responsible corporate leadership. The company expects its leadership team to express values of sustainability and innovation in order to drive its mission to “shape the future of technology and change human experience” (Strand, 2014). Ethical leadership in Nokia is evident in every department of its operations, in which leaders are expected to lead by example and establish a working environment that empowers employees to address their issues or ethical dilemmas without fear. This approach plays a critical role in promoting a culture of accountability and openness, a key element for corporates that are operating in the rapidly evolving tech industry.

In recent years, the company, Nokia has made important steps in addressing sustainability and ethical challenges in its supply chain operations. With its commitment to eradicating climate change, the organization has taken a critical approach to address responsible sourcing of its product materials, minimizing its environmental footprint, and promoting a diverse and inclusive workplace environment (Chikeleze & Baehrend, 2017). Therefore, its dedication to effective leadership and ethical standards, allows the company to navigate the intricate business landscape while also positioning itself as a responsible corporate citizen through its positive contribution to society and the global tech ecosystem. Even though the company continues to innovate and adapt to the changing market dynamics, other approaches need to be considered to ensure the company’s leadership and ethical conduct remain ingrained in its success and longevity in the tech industry.

Ethical Principles in Business Decisions

Some ethical principles can be put in place, to improve the acceptance of the Nokia brand. These are principles that are guidelines in the technology world. They include designing the devices in a way that offers privacy and security of an individual’s information. Making sure that data is protected even as it is being generated in large amounts of Big Data. Every user’s data needs to be handled privately, without any intruder or attacker taking advantage of it. It is also important for the brand to promote trust from its customers. Customers must trust the validity of their data, by making sure that they are providing end-to-end encryption of data, which will make sure that the source of their data is protected. The validity of their data will also ensure that the way data is used for secondary roles such as processing, leads to other reliable resources. Nokia needs to create that avenue of trust with its clients, for more loyal customers. Any bias with data that they use ought to be avoided, based on any factors such as the ethnicity that one comes from or their cultural background. The model also needs to offer accountability channels on their end, through inference models and algorithms that can generate decisions using technologies such as machine learning ad artificial intelligence. This ensures that the brand is held accountable for any decision that they make, or influence their users to make. Nokia as a company, also needs to encourage its employees to be ethical, by putting up measures that support ethics in decision-making while coming up with any of its products. This will make sure that ethics in decision-making is incorporated wholly in the organization.

Nokia also needs to come up with ways that will act as incentives to governments, so that it can be considered for support by the government. Nokia needs to be aligned with a country’s technology plans, and hence come up with solutions that spearhead the plans and plans of a government. The government will hence consider the brand as a partner in its goals, and hence support it. To remain ethical in its operations, Nokia also needs to come up with sustainable and safe disposal processes for lithium batteries. Collection depots for such batteries need to be made public to clients so that they can dispose of them for recycling and safe disposal. The company can also come up with rewards for people that bring back such materials, to encourage users to safely dispose of the lithium batteries, so that they do not harm the environment.

Nokia also lags in the adoption of technologies such as wearables and adoption of the G network. It needs to be in line with such advancements so that its brand does not lose its market share, and hence become obsolete. It also needs to adopt a certain operating system such as Android, rather than share Windows with Windows phones. This will make sure that clients find reliable and unique. By being in line with the plans of various governments, Nokia can receive funds to help it launch its products in new markets. This will assist in its acceptance into such markets, so that it remains relevant in the global market, instead of becoming obsolete.

Conclusion

In summary, Nokia company, which was founded in 1865 and with its headquarters in Finland, has had its own ups and downs. Thus, the company's operations are influenced by various environmental, technological, social, economic, political, and legal factors under the PESTLE framework for analysis. Moving forward, the SWOT analysis suggests that the company has made tremendous efforts as it reawakens. It is imminently clear that the issues with technology have been the core driving factors to the challenges and opportunities surrounding Nokia company. In line with Nokia’s vision, mission, purpose, and objective, the recommendations for aggressive expansions to the African and Caribbean countries would be helpful. The green economy is the way to go for the modern-day business landscape where CSR is increasingly emerging critical. In this case, the recommendation to venture into solar-charged laptops would be crucial for the company. With the recommendations, Nokia is positioned to increase its profits, sales, and the customer base.

References

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Hussein, R. (2020). How fear of change, lack of innovation led to Nokia’s failure? International Journal of Business Ecosystem & Strategy (2687-2293), 2(4), 43-48. https://doi.org/10.36096/ijbes.v2i4.222

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Singh, N. P. (2014). Microsoft Acquired Nokia in Unipolar Operating System Market. Independent Journal of Management & Production, 5(3), 598-622. https://www.redalyc.org/pdf/4495/449544335005.pdf

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Sulphey, M. M. (2019). Could the adoption of organizational ambidexterity have changed the history of Nokia? South Asian Journal of Business and Management Cases, 8(2), 167-181. https://doi.org/10.1177/2277977919833752

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Zaidi, N., Tyagi, P., & Singh, A. (2019). Nokia’s Comeback—Is it Revival of an Iconic Brand? Asian Case Research Journal, 23(02), 415-426. https://doi.org/10.1142/S0218927519500172

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Performance Analysis and Recommendations for Nokia Company

EXECUTIVE SUMMARY