A PESTEL analysis of Nokia Company Essay Example | Topics and Well Written Essays - 1000 words

A PESTEL analysis of Nokia Company - Essay Example The concluding section will make recommendations for the future based on the PESTEL analysis. Finland is a stable parliamentary democracy that has been a member of the European Union (EU) since 1995. It provides a remarkably stable home base for Nokia. A succinct overview of Finland as a politico-economic entity is provided by the Encyclopedia of Political Information: Finland has a highly industrialised, largely free-market economy, with per capita output roughly that of the UK.... Its key economic sector is manufacturing - principally the wood, metals, engineering, telecommunications, and electronics industries. Trade is important, with exports equaling almost one-third of GDP. According to the company website it had sales of EUR 10.3 billion and reported an operating profit of of EUR 403 million and earnings per share of EUR 0.14 in the third quarter of 2010.(Nokia, 2010) On the other hand Intomobile greeted this report by noting that while the overall mobile market is expected to grow by 10% Nokia sees its share of that market dropping slightly along with their value share. (Intomobile, 2010) Overall, Nokias economic position is strong but not perfect. Demand for a firms products and their ability to continue manufacturing them are the key elements in the social element of PESTEL analysis. Nokias core competency, mobile communications, is growing in terms of volume and coverage and, at the same time, innumerable new applications are being developed at an astronomical pace. In terms of its ability to thrive in a stable social environment Nokia is also ideally positioned. Its home country, Finland, is a stable democracy with a moderate gap between the wealthiest and the poorest citizens and a strong social support network. While not immune to the recent global economic meltdown Finland weathered it well. Additionally, Nokia

Is Money the Factor That Can Improve Society Assignment

Is Money the Factor That Can Improve Society - Assignment Example Muda, Japanese for waste, can come in many forms--all of which either add nothing to the finished product or nothing for which the customer is willing to pay. A few examples follow:   Transportation. Any required transportation of products or parts adds nothing from the customer's perspective. Therefore, it should be minimized or eliminated. It's common for plant redesign or reorganization to be among the first steps in a lean effort.   Overproduction. This occurs when a part or product is manufactured before it's needed--either before a customer has ordered it or before it can begin the next process in the production system. This results in a backlog of material that must be stored, which adds unnecessary expense and inefficiency. A truly lean enterprise isn't dependent upon speculative market forecasting for determining production runs.Work in progress. WIP can be caused by overproduction, poor scheduling or long and uneven cycle times. Lean companies ensure that each manufacturing process takes roughly the same amount of time by adjusting the processes themselves or the resources dedicated to each. Additionally, suppliers must be held accountable for the reliable delivery of their shipments.Also inherent to a lean production system is the idea of continuous improvement. The lean executive recognizes waste in any form as a singular enemy, the fighting of which is his or her primary responsibility. Because every p rocess includes some waste, the elimination of all waste is an unattainable goal. On the other hand, lean optimists recognize that this truth means the benefits of a lean system - if diligently pursued - are inexhaustible, too.