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Nokia puts Global Services at the centre of its diversification strategy
  1. Diversification Strategies Of Nokia - SOLVED -
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  4. Diversification Strategy (Ansoff Matrix)

Among the challenges associated with that are picking winners, not straying too far from their core competencies and maintaining their core business at the same time as looking beyond it. Nokia, of course, got out of the smartphone and mapping games to focus on networks and seems to have made a relative success of acquiring another networking player in Alcatel Lucent. But however much Nokia can now bang on about end-to-end networking solutions, it knows merely supplying and maintaining kit will not result in much growth.

The main strategic alternatives, therefore, are to extract more revenue from its core CSP market and to take its core offering to different markets. This, according to the President of Nokia Global Services — Igor Leprince — who spoke to a small group of journalists at a briefing, lot of the heavy lifting for this diversification is being done by his division and specifically the Analytics Services offering that Nokia has just augmented.

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In the strategy diagram below, the first point refers to offering more services to CSPs and the other three represent targeted new markets. Just as important as strategic targeting is changing the way services are delivered, according to Leprince. Here we start getting into familiar buzzwords such as digital transformation and DevOps, but also the use of automation, machine learning and clever algorithms that claim to speed things up, reduce human error and anticipate problems.

The underlying picture Leprince was keen to communicate was one of Nokia Global services using things like AI, automation and consulting to both provide extra value for CSP customers and offer telecoms-like solutions to other verticals. Still thanks for sharing. Then, Swedish furniture firm IKEA revealed its intention to enter the gig economy through its acquisition of the on-demand services platform TaskRabbit. These two different diversification efforts have provoked two very different reactions from industry experts.

The electric vehicle space is also highly competitive, with established car firms like Volkswagen VW and Silicon Valley tech companies like Tesla all having a head start on the UK firm. Dyson will be diversifying into a potential growth area, but one that it will not have all to itself.

The difficulty of diversifying lies in predicting which industries can add value to your business and which ones will simply exacerbate your problems.

Diversification Strategies Of Nokia - SOLVED -

IKEA, on the other hand, was largely praised for its acquisition, with many believing its decision to enter the services trade was a natural extension of its furniture selling business. However, the more that businesses move away from their core competencies, the greater the chance of problems emerging.

For Dyson, however, its diversification is much more of a leap in the dark. In the past, the company has successfully broadened its product range from vacuum cleaners to hand dryers and beyond, but building a car could prove a stretch too far.

Business strategy for diversified companies

Consumer trends can change drastically; new technologies can spring out of nowhere to overhaul entire industries. The most resilient firms are those that can foresee these changes and embrace them before their core offering becomes obsolete. Embed Size px.

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Diversification Strategy (Ansoff Matrix)

Show More. No Downloads. Views Total views. Actions Shares. Embeds 0 No embeds. No notes for slide. Nokia strategy and marketing 1. In the launching of the I phone by Apple Inc created the Smartphone market for the average person, before that the product was targeting only business users. Alison Donnelly points out the situation are already changed in late She stresses the fact that not so long ago it was very popular to own Nokia, but at this time the company was loosing customers to rivals.

The Finnish company had troubles adapting to the market changes. Nokia is a communications based company, which focuses on mobile telephone technology. Latest Products of Nokia Asha java E symbian simple Nokia's net sales for the October-December period in came to a total of million million in They are currently aiming their products at a saturated market segment. Their wage costs are forever rising. Higher import charges have now been put into place. There are some quite high supply chain costs that Nokia are currently paying. Improve the technology that they are using to make their phones and use in their products.

Using innovation to re-invent their products, change and develop to offer something none of the competitors have.