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- Herausgeber: Business Book Summaries
- Kategorie: Lebensstil
- Sprache: Englisch
The must-read summary of Dan Steinbock's book: "The Nokia Revolution: The Story of an Extraordinary Company that Transformed an Industry".
This complete summary of the ideas from Dan Steinbock's book "The Nokia Revolution" tells the story of the wireless communications giant and also covers the evolution of the company’s strategy through time. From its beginning in 1865 as a small timber company in Finland to the incredible global competitor it is today, Steinbock recounts the history of the successful company. This summary is a must-read for anyone who wants to learn more about the innovation strategy behind the success story of Nokia.
Added-value of this summary:
• Save time
• Understand key concepts
• Expand your knowledge
To learn more, read "The Nokia Revolution" and discover the story behind the global technology competitor.
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Seitenzahl: 38
Veröffentlichungsjahr: 2014
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Book PresentationThe Nokia Revolution by Dan Steinbock
About the Author
Important Note About This Ebook
Summary of The Nokia Revolution (Dan Steinbock)
1. The History of Nokia
2. The Nokia Business Strategy
Book PresentationThe Nokia Revolution by Dan Steinbock
About the Author
DAN STEINBOCK is an affiliate researcher at the Columbia School Institute for TeleInformation and a visiting professor at the Helsinki School of Economics and Business Administration. He is the author of The Birth of Internet Marketing Communications and Triumph and Erosion in the American Media and Entertainment Industries.
Important Note About This Ebook
This is a summary and not a critique or a review of the book. It does not offer judgment or opinion on the content of the book. This summary may not be organized chapter-wise but is an overview of the main ideas, viewpoints and arguments from the book as a whole. This means that the organization of this summary is not a representation of the book.
Summary of The Nokia Revolution (Dan Steinbock)
1. The History of Nokia
“Finland has quite a few resources. Briefly put, there are two of them: the people and the trees. Exports are obligatory in the future as well. Things must be sold abroad so that living conditions will remain good domestically. This, in turn, requires that we have extensive experience in international business. This is the greatest risk facing the Finns – the small amount of international business experience.”
– Kari Kairamo, Nokia managing director 1981
Most people who buy consumer electronics products from Nokia assume it is a Japanese company because of the sound of its name. In reality, however, Nokia is not Japanese but the largest corporation in Finland. And while Nokia is now a global powerhouse in mobile communications, it actually began operations in 1865 as a forestry company.
In essence, the history of Nokia as a company can be broken down into three broad phases:
What marks the history of Nokia as being extraordinary is the fact each time the company the company has moved from one competitive stage to the next, it has succeeded in building its current generation of competitive advantages on the foundation of its strategic capabilities developed in the previous stage. Nokia is a great example of the benefits which can be derived from adaptability and strategic flexibility.
1865 - 1920s – The Forestry Era
Nokia was established as a small forestry company on May 12, 1865 to commercially exploit a tremendous boom in the lumber industry which occurred in Finland around that time. The company’s founders were:
Fredrik Idestam – an engineer who became interested in a new process for manufacturing wood pulp.Leo Mechelin – one of Finland’s leading parliamentarians who was leading the country’s struggle for political independence from Russia.The new company was named after the Nokia River and a mill was set up about 10 miles from Tampere, Finland. The company was funded by a group of private investors and took a couple of years to get going. However, by the 1890s, the first small mill had given way to a very large mill, a pulp factory, a large paper factory, an electrical power generator and a number of other facilities. The original founders of Nokia always made certain the company focused on mastering the full value chain.
“While Nokia is well known for its emphasis on innovation, its long-standing focus on differentiation has been less well known. What has made Nokia distinctive among its competitors is the fact that it has consistently focused on mastering the full value chain, from operations and new product development to marketing sales and service.”
– Dan Steinbock
1920s - 1980s – Global Focus
With the end of World War I, Nokia was in the process of changing from a family owned business to a public company. As part of that process, the company started moving into new business segments. Nokia expanded its electrical power generation line of business and looked for other innovations.
When the Finnish Rubber Works relocated to the Nokia region in the 1930s to take advantage of the electrical power supply, it grew rapidly. Soon, an electrical cable manufacturer (the Finnish Cable Works) followed suit and talks began to explore consolidating all three companies. These talks dragged on for many years – the consolidation proposal was rejected in 1937 and then periodically until the mid-1960s when finally the boards of all three companies agreed a merger would make sense. The restructured Nokia Corporation was formalized in 1967 with four major business divisions: forestry, rubber, cable and electronics. The name of this new company was Oy Nokia Ab.
