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are mobile phones fashionable? - Case Study Example
Pages 16 (4016 words)
Scholes (2008) define strategy as follows "Strategy is the direction and scope of an organisation over the long-term: which achieves advantage for the organisation through its configuration of resources within a challenging environment, to meet the needs of markets and to fulfill stakeholder expectations".
A strategic plan entails all aspects of the business. Of paramount importance to any business is the market. This comes before the actual business is initiated. The plan will illustrate the kind of market to venture in. In the case of Nokia Telecommunication Company, the details of the market of target could include: office managers, the business world, students who really on research and could benefit from the internet. Nokia could also target the general public who needs very cheap and affordable phones due to their low economic status.
Another market is the very rich citizens of the society. These are people who always go with class. A class in this respect is measured in terms of wealth. One is of a higher class if they have very expensive gargets. Nokia phone whose value range is 800 is the best for such a group (National statistics, 2007).
The strategic plan should also give a summary of activities that take place in the market. This explicitly gives the account of the market size and scope. Nokia targets the global market as a whole. However the greatest of this is in the major markets like USA. The United Kingdom is one of the world's most globalised countries, ranking fourth in one recent survey.