Nokia's Organizational Change - Essay Prowess

Nokia’s Organizational Change

Nokia’s Organizational Change

Nokia Organizational Change

Organizational Effectiveness (Conestoga College)

NOKIA’S ORGANIZATIONAL CHANGE

Executive Summary: Nokia was one of the leading producers of mobile s phones in the world until it saw its role diminish due to loss of its market shares and has implemented new ways or new changes in building its leadership in the mobile industry and also competing with Apple and Samsung to gain its top position again.

INTRODUCTION: Nokia is a Finnish company that was established on 12 may 1865 in Finland, Nokia operates as a public limited company and it offers its services in different industry which are; multinational communications, information technology and consumer electronics company. It has its headquarters located in Espoo Finland and conducts its business in more than 130 countries worldwide and has about 102,761 employees in over 100 countries (Wikipedia, 2018, paragraph 1).

In 2016 Nokia reported annual revenue of $26.13 billion a gross profit $9.6 billion and a net income of $-847.65 million total assets. Its shares are publicly traded on the Helsinki Stock Exchange and New York Stock Exchange. According of the Fortune Global 500 Nokia is ranked the 415th largest company in the world and had a revenue of $26,113 million (Amigo bulls, 2018, pg. 1; Fortune Global 500, 2017, pg. 1).

The key people that is responsible for all day-to-day management decisions and for implementing the company's long and short-term plans are;

  • Joerg Erlemeier (Chief Operating Officer)
  • Rajeev Suri (President and Chief Executive Officer)
  • Kristian Pullola (Chief Financial Officer)
  • Risto Siilasmaa (Chairman)

(Nokia Cooperation, 2018, paragraph 2)

When Nokia was founded by Fredrik Idestam Leo Mechelin and Eduard Polón in 1865 it first operated as a wood pulp mill in Finland, then it expanded its services into manufacturing of paper, and continued into rubber manufacturing

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