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| Nokia Logo |
When it comes to telecommunications, Nokia was a brand that was on lips of everybody. It was known for its affordability, durability and the most rugged among phones. It was a brand that was able to create a product for every class of the society.
Take for instance in Nigeria , an average phone user in early year 2000 when mobile phone first came to Nigeria must have used one Nokia brand.
But one thing that has kept me wondering is, WHAT HAPPENED TO ALMIGHTY NOKIA. After the sales boom in early year 2000. The company made billions of dollars. And failed to plan for tomorrow. They forgot that one thing that is constant in life is change.
Between year 2010 during the advent of Smart phones, Nokia failed to take advantage of their market size.
Some many other phone makers like Samsung, Tecno, Apple and others seized the opportunity and over took Nokia. Though Nokia tried to meet them, but the company was confused at time. By the time they are realizing what is happening it was too late for them.
What went wrong with Nokia?
Many have attributed to poor management of the company by the owners.
Below are extract from speech of one of Nokia executives during the hand over of Nokia company to Microsoft that acquired it. It was an emotional speech.
During the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, teared sadly.
Nokia has been a respectable company. They didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too powerful.
They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.
The message of this story is, if you don’t change, you shall be removed from the competition.
It’s not wrong if you don’t want to learn new things. However, if your thoughts and mindset cannot catch up with time, you will be eliminated.
Conclusion:
The advantage you have yesterday, will be replaced by the trends of tomorrow. You don’t have to do anything wrong, as long as your competitors catch the wave and do it RIGHT, you can lose out and fail.
To change and improve yourself is giving yourself a second chance. To be forced by others to change, is like being discarded.
Those who refuse to learn & improve, will definitely one day become redundant & not relevant to the industry. They will learn the lesson in a hard & expensive way.
Take for instance in Nigeria , an average phone user in early year 2000 when mobile phone first came to Nigeria must have used one Nokia brand.
But one thing that has kept me wondering is, WHAT HAPPENED TO ALMIGHTY NOKIA. After the sales boom in early year 2000. The company made billions of dollars. And failed to plan for tomorrow. They forgot that one thing that is constant in life is change.
Between year 2010 during the advent of Smart phones, Nokia failed to take advantage of their market size.
Some many other phone makers like Samsung, Tecno, Apple and others seized the opportunity and over took Nokia. Though Nokia tried to meet them, but the company was confused at time. By the time they are realizing what is happening it was too late for them.
What went wrong with Nokia?
Many have attributed to poor management of the company by the owners.
Below are extract from speech of one of Nokia executives during the hand over of Nokia company to Microsoft that acquired it. It was an emotional speech.
During the press conference to announce NOKIA being acquired by Microsoft, Nokia CEO ended his speech saying this “we didn’t do anything wrong, but somehow, we lost”. Upon saying that, all his management team, himself included, teared sadly.
Nokia has been a respectable company. They didn’t do anything wrong in their business, however, the world changed too fast. Their opponents were too powerful.
They missed out on learning, they missed out on changing, and thus they lost the opportunity at hand to make it big. Not only did they miss the opportunity to earn big money, they lost their chance of survival.
The message of this story is, if you don’t change, you shall be removed from the competition.
It’s not wrong if you don’t want to learn new things. However, if your thoughts and mindset cannot catch up with time, you will be eliminated.
Conclusion:
The advantage you have yesterday, will be replaced by the trends of tomorrow. You don’t have to do anything wrong, as long as your competitors catch the wave and do it RIGHT, you can lose out and fail.
To change and improve yourself is giving yourself a second chance. To be forced by others to change, is like being discarded.
Those who refuse to learn & improve, will definitely one day become redundant & not relevant to the industry. They will learn the lesson in a hard & expensive way.
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