Business Environment and Strategic Management Assignment - 1

Business Environment and Strategic Management - Assignment Example This essay stresses that Nokia could use an alternative strategy for developing its activities. Instead of being relied on the financial support of Elop, the firm should try to update its strategies; a restructuring of the firm’s units could help to the limitation of the firm’s costs, in the context described above, and the stabilization of the firm’s performance. Moreover, following this practice, the firm could manage to develop its performance, even in the long term. In any case, as proved through the figures presented above – and through the relevant graphs – the problem of the firm is not its sales but its profits; in other words, there is no need for increasing sales – even if such perspective would be positive for the growth of the firm – but to increase the profits; in this context, there is an issue of update of the firm’s management strategies and not of improving the firm’s brand name or achieve other benefits that refer to the firm’s image in its market. This paper makes a conclusion that investing in Nokia would be strongly suggested. The firm is in a period of restructuring. For a while, its performance may be under pressure; however, in the long term, the improvement in the firm’s profitability can be considered as secured. Indeed, the initiatives developed by the firm’s new leader are expected to lead the firm to a significant growth, if taking into consideration its market share and its prospects having access to Android-based devices and iPhone.