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Competition Nokia in the past and more so recently have faced various competitions for customers from a number of upcoming and well-developed telecommunication giant companies such as Motorola, LG, Samsung, Alcatel, Cisco among others.
It is rational for the company to seriously evaluate the benefits and costs of adopting an innovation since adopting it is not always a bed of roses as it can backfire and cause very serious setback to the business.
Social/demographic factors Mobile phones, their accessories as well as other services offered by Nokia positively correlated to increase in human population.
GDR; others include QUALCOMM Incorporated, Nortel Networks Corp., Cisco Systems Inc. A number of scholars, theorist, and economists among other persons have noted that internal but more so external factors influence the ability of any organization or business in meeting their customers’ needs and aspirations.
This, in turn, dictates the future survival and success of such businesses in this competitive business world.
All these products and services enable people to enjoy music, videos, television, imaging, game, navigation among other things at their convenience.
Clients/customers of Nokia range from organization to individuals who sort after mobile communication and internet services.
Among the external factors to be discussed in the case of Nokia are; competition, economical forces, legal and regulation forces (political), technology and innovation, social cultures & demographic and globalization.
Despite these external forces, according to Wit and Meyer (2004), organization/firms need to adapt to developments in the market by building on strengths of the resources at their disposal.
These competitors developed affordable products that almost substituted the company’s products and services.
This thus made Nokia use huge funds in developing and popularizing their products and services and at the same time change the pricing policy.