Why Nokia did failed.
NOKIA DID NOT ADAPT TO CHANGE.
BEING A FIRST MOVER:
Nokia became the industry’s first mover. However, the introduction of the iPhone in 2007 effectively squandered Nokia’s creative advantage.
HIGH COMPETITION IN THE INDUSTRY.
THE ABSENCE OF A STRATEGIC PLAN FOR BUSINESS.
LACK OF INNOVATION IN THE BUSINESS TECHNOLOGY.
BRAND STRENGTH OVERESTIMATION.
COMPLACENT HUMAN RESOURCE:
Employees, for the most part, alter their attitudes. They lose interest in their work and become complacent.
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