Contemporary issues portfolio Essay Example | Topics and Well Written Essays - 2000 words

Contemporary issues portfolio - Essay Example For instance, Nokia Corporation has established its global position within the mobile market. The organisation is well-known for its exceptional deliverance of telecommunication and networking services across the different regions of the world paying due attention towards the business environment of the particular region along with its corporate cultural features. The organisation practices an effective as well as flexible decision making and operational process which considerably focuses on product innovation and technological advancements of its range of electronic devices (Henten & et. al., 2004). The report hereby intends to briefly discuss the business environment and corporate culture of Nokia in the global cellular market. The discussion henceforth will be focused on highlighting the business environment through the appropriate identification of the internal strengths, weaknesses, opportunities and threats of the company in the global mobile technology market. Moreover, the re port will further include the role and significance of business environment and corporate culture practiced by Nokia paying due consideration towards its challenges in the global market. Relevance of Environment and Corporate Cultures in Nokia External Business Environment Business environment, in the 21st century context, principally consists of four major dimensions such as political, economic, social as well as technological factors which can be grouped through the implementation of a PEST analysis model (Lorat, 2009). Political Environment Political factors are often observed to have a major bearing upon a business organisation to efficiently coordinate its number of vital operations. These factors can create positive impacts upon an organisation’s business in terms of making its operations smoother; however, political disturbances and imbalances, as well as unsympathetic governmental regulations can also create obstructions for a business to operate efficiently within a nation (Macmillan Publishers Limited, n.d.). Contextually, the political factors identifiable in the external business environment of Nokia are regarded as quite vital as the company focuses on practicing flexible policies in its global business operations. In order to efficiently operate its business operations, the organisation significantly involves obtaining effective supports from the public sector through rapid and flexible change adoption within its operational processes (Blomstrm & et. al., 2002). Economic Environment This particular dimension encompasses the type of economic movement which constitute the livelihood of the people, wealth sources as well as the degree of the country’s industrialisation (Chernev & Kotler, 2008). Observing the international strategic practices of the company, the business strategy of Nokia significantly complies with the economic environment and stability of the country where the organisation attempts to operate its business practices. F urthermore, the organisation renders due significance towards the income level and economic conditions of the customer segments, with the sole intention to address customer demands effectively through needful innovation and