Nokia and Its Innovation: Assignment
Added on 2021-02-21
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Innovation
Table of ContentsEXECUTIVE SUMMARY ............................................................................................................3MAIN BODY...................................................................................................................................4Organisation & Industry overview: ............................................................................................4Nokia and its Innovation History: ..............................................................................................4Organisation existing innovation performance and capabilities .................................................6Industry in 2019 ..........................................................................................................................7CONCLUSION ...............................................................................................................................9REFERENCE...................................................................................................................................1
EXECUTIVE SUMMARY From the report it has been summarised that innovation is the application of knowledgeand ideas that is used to introduce from new products and services in market. It is essential foreach industry to adopt the new technology and invention for the purpose of developing newproducts and services that attracts customers and make buying decisions. The growth anddevelopment of business is depend on innovation and new technology that make happycustomers by meeting with their needs and wants. It is a fundamental way for organisation tocreate a value for customers through providing better quality of products and services. Anothersaid, it is the specific instrument of entrepreneurship that act with new capacity in order toperform better and increase capabilities. Such assignment is prepared on selected organisationthat is Nokia that provides communication services, equipment etc. The main reason behindpreparing this assignment is to understand the concept of innovation and how it helps to increasethe business performance and capabilities. Such assignment is being discuss on different agendaof business. The first agenda in this report is to define the past of Nokia, how it has faced thecompetition and how technology helped to cope up with challenges. To understand this PESTLEanalysis is done that provides relevant information about history of Nokia. PESTLE analysis alsohelped to understand about influencing factors which has impacted on business due to lack ofresources. The next agenda is about present innovation that states Nokia is capable of running abusiness continuously by using innovation and resources. For understanding this SWOT analysishas been performed that helps to identify strength, weakness, opportunities and threats forcommunication industry. In current trend, Nokia has launched new smartphones with newapplication that helps to crack the competition by improving business performance andcapabilities. In last agenda, project discusses about communication industry in future by fillingcustomer's choices that helps to gain competitive advantages. To understand this Porter analysisis done that states utilisation and implementation of new technology in order to face thecompetition. Nokia bringing inventive products with the help of innovation that helps to dealwith challenges and increase profitability.
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