Impact of Innovation Management and Technology Transfer in Nokia

This report provides a detailed analysis of innovation management within Nokia Corporation. It begins with an introduction to globalization, innovation, and technology's importance in business, particularly for multinational companies like Nokia. The methodology section explains the use of secondary data to understand innovation management and technology transfer. The report then explores the implications of innovation management in Nokia, discussing the role of innovation, its importance, and the key attributes of effective innovation management. It examines strategic, operational, and tactical challenges in establishing a viable innovation management culture, such as lack of training and strategic frameworks. Strategies for implementation, including setting frameworks, communication, and collaboration, are also discussed. The report concludes by assessing the impact of innovation management on Nokia's global business, considering both positive aspects, like competitive advantage and technological improvement, and negative aspects, like high costs and risks. The report provides insights into Nokia's innovation practices, challenges, and its impact on global business operations.

Innovation Management Assessment

Table of Contents
A. INTRODUCTION......................................................................................................................1
B. Methodology of the analytical approach by demonstrating a critical.........................................1
Understanding of managing innovation and technology transfer theme.....................................1
C. Implication of managing innovation and technology transfer in Nokia company......................2
Innovation and It's Importance in organization...........................................................................2
Role of innovation management..................................................................................................2
Critical Analysis of Innovation Management..............................................................................4
Strategic, operational and tactical Challenges in establishing viable innovation management
culture- ........................................................................................................................................5
Describing some key attributes in order to retaining learning from the effective innovation
management practice...................................................................................................................7
D. CONCLUSION ..........................................................................................................................8
REFERENCES..............................................................................................................................10

A. INTRODUCTION
Globalization is a process that is used by the organization to take the business to the
international level. It can be also taken as a process of integration and interaction among people,
companies and government (Goffin and Mitchell, 2016). In context of business organization
meaning of Globalization is about expansion of business and operation on global level. In
process of globalization role of innovation and technology is so important. Innovation and
technology allow the organization to start a business or to run a business organization efficiently
on global platform. Nokia is a multinational organization and providing mobile phones and
accessories related to the telecommunication and network equipments. Nokia was founded in
year 1865 in Tampere, Grand of Finland by Fredrik Idestam, Leo Mechelin and Eduard Polon.
Headquarter of Nokia is in Espoo, Finland. HMD Global is the parent company of Nokia
Corporation. It is operating in 130 countries around world and providing services to consumers.
This report is explaining the role of innovation management in Nokia and its impact on
global business of company. Role of company strategy, tactics, and operation challenge for
innovation management culture in organization is provided in study. Key attributes of retaining
learning from effective innovation management practice is covered in report.
B. Methodology of the analytical approach by demonstrating a critical
Understanding of managing innovation and technology transfer theme
In this research report, secondary data methods are used that helps to determine the
managing innovation into the working area. For that articles and books are reviewed that helps in
critical thinking of managing innovation and technology transfer. Such that as per the view of
(Mergel, 2016) innovation is the that process in which business change an idea or technique into
a new innovation product and service that helps to create the value for the customers. On the
other side Technological transfer on global level is typical for organization because in
international market there are many competitors of particular company. As per (Martín-de
Castro, 2015) this technology transfer process is complex in internal market because there are
many option innovators have in global market to make deal this thing increase competition in
global market.
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C. Implication of managing innovation and technology transfer in Nokia
company
Innovation and It's Importance in organization
Innovation can be taken as a new idea, creative thinking and new level of imagination in
form of process or technology. Mostly it is related to the technology and something new in
business practices. Innovation is very important for organization because many other factors are
directly or indirectly affected by this. Innovation allow the organization to improve performance
of company by adding new practices or technology in operation and product. Main objective of
innovation in company is to gain competitive position in market place.
Innovation management is combination of various innovation practices, processes and
change management in an organization. This all factors of innovation are related to product,
services and business process of Nokia Company.
Role of innovation management
Innovation management is significant factor in economic growth of company. Management is
the activity is know as a practice that can helps the organization to introduce innovation and
implement in company processes (Brexendorf, Bayus and Keller, 2015). After the
implementation it also include to activities which are important to maintain and improved
performance of organization through innovation. Role of innovation management in organization
is to successfully implement innovation in organization. Role of innovation management can be
further can be classified through different steps that are-
Setting Goals for Innovation Process
This part is all about setting goals to implement required changes and innovation in
organization. As per the market trends and requirements of consumer organization need to make
different change in product, services and business processes. It is primary objective of innovation
management team is to identify the needs of company to set goals for innovation and
organizational changes. The goals and objectives lead way to Nokia company in implementation
of innovation.
Cooperation
Implementation of innovative technology or business practice is not an easy process for
organization. Most important work innovation management team have to perform is related to
improve cooperation in organization and employees to reduce the resistance for innovation. In
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this process organization try to convince employees to get ready for changes in company. By this
Nokia manages performance of company constant in market place. It is their role to minimise the
resistance of employees and stakeholders to maintain productivity of organization.
Combination of Ideas
Innovation is not a simple process it needs huge research and analysis to get better result
through innovation implementation. For this organization use different approaches to collect new
ideas to improve performance of organization. In this process Nokia ask their employees to to
think creative and generate new ideas for organization as per current market trends and future
possibilities of technology in Nokia (An and Ahn, 2016). This can help the organization to select
particular methods and technical approaches to improve performance of organization in
operations.
Evaluation of Innovation
After the selection of innovation goals company evaluate those changes for organization
and check suitability of innovation for methods and processes of Nokia company. Organization
can get different suggestion about innovation process that are applicable for organization but
possibility of each innovation is different for each idea and creative thought. Also this is
important for organization to check the profitability and application of innovation for products
and services of organization.
Testing Ideas
In the testing process innovation management team test proposed innovations on different
aspects like technical and operational efficiency to ensure the growth and productivity of Nokia
with new changes (Dereli, 2015). This is one of the most important process for company because
through this testing process organization can save fund, time and resources of organization along
with preventing failure of processes.
Execution of Innovative Changes
Whole innovation and changes implementation processes are monitored by
management, technical & financial authority during implementation and execution process to
avoid typical problems like technical failure and operational failure. Monitoring at time of
execution can reduce complexity of implementation process.
Assessment of Innovation
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As new changes, innovative techniques and processes are implemented in organization
their performance is assessed by company authority to evaluate the performance of company
with new changes and this data is compared to old process to find percentage growth achieved.
Impact of Innovation Management on Global Business
Innovation management is one of the most important activity perform by an organization
in order to improve performance of organization along with creative changes in company
products. Impact of innovation on global business organization could be both positive and
negative. Innovation management is considered as positive thing for organization because it
provides many opportunity to Nokia to give tough competition to other competitors in global
market. Some of main impact of Innovation management are-
Positive Competition
Innovation management allows various companies to deal with different global
competitive issued that are important for organization. Management of innovation in
organization reduce limitations for organization in global business market. Innovation
management also help the Nokia company to set new trends of competition in international
market.
Technological Improvement
Nokia is providing electronics products to the consumer. Innovation and new changes in
company product and procedures improves the technological standards on global electronics
sector. It also provide opportunity to fresh talent to drive electronics industry to new level.
High Cost
Innovation management process sounds easy and effective but in real condition it is
difficult for organization and international business perspective. There is huge risk to implement
change in international market with high efficiency (Kasemsap, 2017). Nokia company is
working on international market and in process of innovation possibility of failure are high. Also
this process needs high capital, resources and men power to make process efficient. In case of
failure it could cost a lot to organization.
Critical Analysis of Innovation Management
Innovation management refers to business procedure, products, organizational innovation
and marketing. It allows company to respond to internal and external opportunities, and use their
creativity to introduce new process, goods and ideas. Innovation management culture define the
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creative working environment, leaders cultivate work environment in order to nurture
unorthodox thinking and their application (Donate and de Pablo, 2015). It is the prized by firm
that compete in markets defined by fast change, maintaining status quo is insufficient to beat
efficiently and effectively, thus making an innovation management culture important for success.
In simple words, Innovation management culture is the environment that helps creating new
ideas and creative thinking to extract economic and social value from knowledge and in doing.
With the help of creating innovation management culture Nokia will be able to encourage
workers to perform better than before and generate new and creative ideas. In order to run
business effectively, Nokia company need to established viable innovation management culture
which is quite beneficial for them and help to increase profitability. With the help of creating or
establishing innovation management culture within business, organization will be able to
encourage creativity and generate new ideas. Innovation culture within company permit workers
to experiment new things and goods that help to increase productivity and generate market share
as compare to others.
Strategic, operational and tactical Challenges in establishing viable innovation management
culture-
Due to lack of training and knowledge about innovation management culture, company
face challenges that impact on its performance and market position. Without having knowledge
and appropriate skills Nokia cannot be able to manage innovation within its business structure as
it affect on its financial performance and productivity. Due to lack of training they cannot be able
to transfer technology and run operational functions effectively.
Due to lack of strategic frame work and directions organization is unable to create
innovation culture and manage innovation in company for longer (Damanpour, 2014). Without
setting goals and creating plans regarding implication of innovation management culture they
cannot manage it effectively and efficiently and it impact on business performance and
competitive position.
Due to lack of communication and collaboration Nokia will not be able implement
innovation culture in company and also unable to manage it in business effectively. Poor
communication lead to lack of team cohesion, wasted resources and time, unclear messaging and
damage relationships between management and workers.
Strategies for implication of managing innovation and technology transfer-
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Sets the frame work and direction-
Before managing innovation in company, Management must set the best and appropriate
frame work which is essential for business. With the help of directions in context of establishing
innovation management culture, firm will be able to create positive environment and it helps
workers to enhance their performance better than before. Management sets clear goals regarding
innovation culture and explain it to every workers clearly (Chesbrough and Bogers, 2014). Via
creating innovation management culture in firm, they can improved productivity, reduce costs,
increase competitiveness, build new relationships and partnerships and increased turnover and
effectively manage innovation rather than before. It is one of the best and first strategy that help
establishing possible innovation management culture in Nokia effectively and efficiently.
Through good communication, company give appropriate directions to their workers in order to
creating and managing innovation. Management need to engage organization workers in
establishing innovation management culture and need to build strong relationship between high
authority and staff. Before establishing, company need to decide which type of innovation they
want to established and how. Thus, after that they provide direction and right guidance to
employees regarding the process. Innovation management culture brings new opportunities and
empower business more and more.
Nokia is the multinational telecommunications, customer electronics and information
technology organization. Company provide range of innovative products to their customers, as it
help to retain people with them for longer time. Nokia media master set top box and Nokia
Lumia devices is considered in the list of innovation created by company in order to retain
customers with them (Lendel, Hittmár and Siantová, 2015). With the help of managing
innovation within business structure, organization earn profit and grab the competitive
advantages. Via creating innovation management culture in organizational structure, company
will be able to manage innovation and sustain it for long time period. With the help of reducing
bureaucracy and encouraging workers company will be capable to manage innovation and create
innovation culture in business efficiently. No
Create innovation workshops-
Innovation workshop is quite beneficial and useful for managing innovation in Nokia. It
help to generate awareness and increase knowledge about innovation. Organization will create
this workshop that help to guide people about the importance of innovation and how it is
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essential for business growth and success. By creating workshops management define the roles
played by workers in the procedure of managing innovation which is essential. It is one of the
best implication strategy for managing innovation in firm.
Provide training and development sessions-
Training and development play the most important role for managing innovation in Nokia
for longer time. Training is the program that support workers learn knowledge and skills about
managing innovation and implication of it, it also help to improve the performance of employees.
On the other side, with the help of training people develop their knowledge and abilities rather
than before and it focuses on workers growth and future performance (Dodgson, 2014).
Management create plans for managing innovation in company which provide many benefits to
them. They will provide training and development sessions that help to enhance people
performance and make them able to managed innovation effectively. With the help of getting
training through specialist workers will improve their knowledge and increase abilities of
generating new ideas. It help to improve and maintain skills in context of managing innovation.
Describing some key attributes in order to retaining learning from the effective innovation
management practice
As it is clearly observe that innovation is specifically used in order to attain the aim and
objectives in the company, for the same, Nokia is also using two specific innovation
management practices such as:
Constant Improvement: As per the view of … succeeding in innovation management is
all about the continuous improvement for both company as well as for an individual. In the same
way, by using constant improvement as a innovation management practice, Nokia is able to
compete and successfully drive the desired progress that helps to become better in the future.
Though it is not difficult for a firm to use the management practice, but only company should
have expert members of team which have the key attributes to implement the same into the
working area. In order to implement the management practice, the team of Nokia must have to
develop the critical thinking skill by gathering relevant experience and also set clear
expectation as well as standards that looks for the measurable results. In addition to this, the team
must have to work smarter. Thus it is also analysed that, if the company uses the same key
attributes, then it will easily or constantly improve all the aspect related to innovation so that
company will get high results for the same.
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Value Creation: It is the second innovation management practice which may be used by
the Nokia, this innovation practice helps a company to creates value for the customers that
directly creates impact upon its financial performance. For that, the team of Nokia must have the
key attribute such as, Communication skills, listening skills and management skills. These
skills should be retain in order to implement the same innovation practice into the working area.
For the same, as the team should posses good management skills that helps to enhance the
customer service and using good listening skills, employees are able to solve the conflicts
between them. The employees should posses the tactic knowledge that further assist the business
to create value for the company. For Nokia, it is more important for the business to know the
customers well and that is why, the team or employees should posses the key attributes that help
to implement the innovation strategy into the working place.
In addition to this, for value creation as a innovation management practice, it is necessary
for Nokia to focus on keeping the right balance between their customer's feedback and vision.
This will help a firm to be a customer focused and maintain the strong brand image as well.
Focus: It is another innovation management practice in which the team have to be stay
focused and for that the key attribute is critical thinking and strong vision that helps a firm to be
focused for particular management practice. As innovation is consider the best practice that helps
to introduce new system and management into the working area. In the same way, this is possible
only when the employees have a critical thinking ability that helps to focused on the specific
innovation management practice. Therefore, to stay focused, critical thinking is the basic key
attribute that helps will assist the company to manage the work accordingly and maintain the
working culture as well. On the other side, if Nokia uses the same and focuses on only one thing
then it will help to attain the aim and objectives in better manner. That is why, the team of Nokia
must have the key attributes that helps a firm to implement new innovation management practice
into its working area.
D. CONCLUSION
From above it has been concluded that innovation is very essential in business as it help
to generate market share and increase profit margin of Nokia company. Organization apply
different types of strategies and tactical for managing innovation, they will create innovation
management culture and provide training to existing and new workers which is beneficial and
effective for business growth and success. In order to established innovation management culture
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company faced many challenges that impact on its overall business performance as well as
competitive position in marketplace. Furthermore, innovation management play vital role in
business progress and it impact on global business effectively. With the help of implementing
innovative culture in firm they can be able to gain competitive benefits and increase profitability
rather than before. Lack of communication, skills and knowledge regarding innovation and lack
of training create barriers in establishing viable innovation management culture in Nokia that
effect on productivity and performance of business.
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REFERENCES
Books and Journals
An, H.J. and Ahn, S.J., 2016. Emerging technologies—beyond the chasm: Assessing
technological forecasting and its implication for innovation management in
Korea. Technological Forecasting and Social Change. 102. pp.132-142.
Brexendorf, T.O., Bayus, B. and Keller, K.L., 2015. Understanding the interplay between brand
and innovation management: findings and future research directions. Journal of the
Academy of Marketing Science. 43(5). pp.548-557.
Chesbrough, H. and Bogers, M., 2014. Explicating open innovation: Clarifying an emerging
paradigm for understanding innovation. New Frontiers in Open Innovation. Oxford:
Oxford University Press, Forthcoming. pp.3-28.
Damanpour, F., 2014. Footnotes to research on management innovation. Organization Studies.
35(9). pp.1265-1285.
Dereli, D.D., 2015. Innovation management in global competition and competitive
advantage. Procedia-Social and behavioral sciences. 195. pp.1365-1370.
Dodgson, M., 2014. Collaboration and innovation management. The Oxford Handbook of
Innovation Management. pp.462-481.
Donate, M.J. and de Pablo, J.D.S., 2015. The role of knowledge-oriented leadership in
knowledge management practices and innovation. Journal of Business Research. 68(2).
pp.360-370.
Goffin, K. and Mitchell, R., 2016. Innovation management: effective strategy and
implementation. Macmillan International Higher Education.
Kasemsap, K., 2017. Strategic innovation management: An integrative framework and causal
model of knowledge management, strategic orientation, organizational innovation, and
organizational performance. In Organizational Culture and Behavior: Concepts,
Methodologies, Tools, and Applications(pp. 86-101). IGI Global.
Lendel, V., Hittmár, Š. and Siantová, E., 2015. Management of innovation processes in
company. Procedia Economics and Finance. 23. pp.861-866.
Martín-de Castro, G., 2015. Knowledge management and innovation in knowledge-based and
high-tech industrial markets: The role of openness and absorptive capacity. Industrial
Marketing Management. 47. pp.143-146.
Mergel, I., 2016. Agile innovation management in government: A research agenda. Government
Information Quarterly. 33(3). pp.516-523.
Palm, K., Lilja, J. and Wiklund, H., 2016. The challenge of integrating innovation and quality
management practice. Total Quality Management & Business Excellence. 27(1-2).
pp.34-47.
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