Management LEARNING OF NOKIAS FAILURE a VISION OF MANAGEMENT IN BUSINESS

Wellcome MANAGEMENT "LEARNING OF NOKIA'S FAILURE - A VISION OF MANAGEMENT IN BUSINESS" GROUP - Management 01 TABLE OF CONTENTS 02 03 04 Management Understanding about management Lesson of Nokia The failure of Nokia: Falling from the pinnacle of success” Experience Lessons learned from Nokia Vision of business Vision of governance issues in the 4.0 era and during the pandemic 01 MANAGEMENT Management is important The success or failure of companies, public sector institutions and services, not-for- profit organizations, sports teams, and so on, often depends on the quality of their managers But what managers do? The importance of Management Good organizational governance (GOG) is needed to regulate and control the relationship between the organization's management and all parties with an interest in the organization regarding their rights and obligations in accordance with the organization's vision and mission It aims to create added value for all interested parties as well as to achieve organizational goals and work programs effectively LOGIN NEW ACCOUNT Consequences of poor management Damaged Company Reputation Affect the company’s budget, employee turnover and overall profits Mismanagement, less organized processes, lack of planning, etc together leads to many disadvantages Reduced Productivity Resources—including time and money —are wasted 02 LESSON OF NOKIA The failure of Nokia: Falling from the pinnacle of success” SWOT ANALYSIS OF NOKIA STRENGTHS - Have a brand advantage - Wide range of products - Nokia's products are easy to use - Quality, the reliability, durability, and creativity their phones provide OPPORTUNITIES - The Microsoft-Nokia deal is cooperation for both companies - Expand the range of products and prices - New consumer trends appear in the market WEAKNESSES - Poor after sales services - Symbian operating system gradually lost the favor of customers - Products not meet customer needs THREATS - Competitors are getting stronger - Technology changes - Hard for Nokia to maintain and expand their market share Nokia's market share begins to slide 2007 Nokia's worldwide market share was 49.4%, the highest in the world By mid-2012 The company's stock price fell below $2 Nokia’s history only serves to prove that no company is infallible, especially in the face of technological progress What were some of their critical mistakes? PROBLEM Strategic management CDMA Approach Phone Design Sales Approach Symbian Operating System Digital Ecosystem Innovation Department Executive management Subsidiaries Employment Leading Failed in organizational structure and interdepartmental communication Many managers and department heads, leading to inconsistency, Many subsidiaries, but these "branches" are inefficient Change management "conservative" in their product design style, not up to date with trends The styling of current Nokia phones is not competitive Not focusing on what your customers want Focus on Hiring the Most Qualified People 03 EXPERIENCE Plan Brands Management Plan to allocate resources appropriately Never rely solely on brand reputation to retain customers and acquire new brands Management resources wisely Management must go towards leadership Marketing Employee Marketing is as important as the product itself Must adapt to the market Establish an effective recruitment channel to help recruit talented people Business model Business model must be sustainable 04 Vision of business Vision of governance issues in the 4.0 era and during the pandemic The management team will be primarily responsible for risk management for the business It is leaders who will have to determine the right time and method to perform complex tasks So what should leaders do? Managers Focus on training staff, grasping technology solutions to be able to turn business ideas into reality during this period The leader must firmly row in order to create a support for the staff Efforts to maintain position and expand online shopping channel with price and delivery solutions VISION OF BUSINESS MARKETING Marketing right customer needs TRAINING Applying business models ASSESSMENT Customer service TECHNOLOGY Developing e-commerce, converting from offline to online THANKS! Kiều Oanh -Leader Do you have any questions? Bảo Ngọc Oanhhanama@gmail.com Thùy Chi Diễm Quỳnh Phước Đức Group .. .MANAGEMENT "LEARNING OF NOKIA'S FAILURE - A VISION OF MANAGEMENT IN BUSINESS" GROUP - Management 01 TABLE OF CONTENTS 02 03 04 Management Understanding about management Lesson of Nokia The failure. .. failure of Nokia: Falling from the pinnacle of success” Experience Lessons learned from Nokia Vision of business Vision of governance issues in the 4.0 era and during the pandemic 01 MANAGEMENT Management... NOKIA The failure of Nokia: Falling from the pinnacle of success” SWOT ANALYSIS OF NOKIA STRENGTHS - Have a brand advantage - Wide range of products - Nokia's products are easy to use - Quality,