NOKIA Changes and Trends in Business Environment

  • Category:
    Business
  • Document type:
    Essay
  • Level:
    Undergraduate
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    1
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    645

4Nokia Сhаngеs аnd Тrеnds in Business Еnvirоnmеnt

Nokia Сhаngеs аnd Тrеnds in Business Еnvirоnmеnt

Changes and trends impacting Nokia

A major trend that is likely to affect Nokia of the increased importance that consumers are placing on privacy. Whereas increased level of connectivity tends to improve the lives of individuals in a number of ways, privacy concerns also seems to increase as the quantity of the sensitive as well as transmission of private data across telecommunications networks continues to grow drastically. Based on the fact that Nokia operates in the telecommunication industry, Nokia will need to attain some privacy rights (Nokia Solutions and Networks 2016). Another trend and change that is likely to affect Nokia is climate change. Currently, climate change seems to be a major challenge that the current generation is facing and if not addressed it will affect the future generation adversely. The effects of climate change are wide ranging from the increased threats of extreme weather and flooding, inhibiting the global economic development and changes in regulations. This seems to be a change that is likely to have an impact on Nokia. All the above mentioned effects of climate change are likely to have an impact on the business operations of Nokia. Nokia needs to play an essential role in ensuring that they find a solution by making use of technologies that reduce the emissions to the environment (Nokia 2015).

Another common trend relates to the consumers potential in relation to technology in the programmable world. There is rapid development in technology and it is greatly impacting on the way we live. A great number of people are connected through the use of mobile networks. This shows the important role that the mobile technology has played in giving individuals access to knowledge, education and information (Nokia 2016). The technological paradigm that is available is entering into a new phase where it aims at connecting things ad people and this is what is termed as the radical shift to the programmable world will play a role in making better use of the scarce resources, improved the lives of people and also reduce the compacts to the environment and greater level of efficiency.

Environmental factors responsible for the changes and trends

Some of the most common environmental factors are classified as the political factors, legal factors, economic factors, social, technological and environmental factors (Howard, 2007). There are a number of environmental factors that are responsible for the above mentioned changes and trends. In relation to the climate change trend, which is receiving wide recognition from consumers the trend can be categorized under the environmental factors. This is based on the idea that organizations activities need to be in line with the environmental standards and the acidities such mot degrade the environment. The trend on increased need of privacy by consumers can be grouped under the legal factors sectors in that there may be laws as and regulations governing the sharing of information between individuals. In instances when such laws and regulations are bleached there may be some legal issues. The change and trend of consumer’s potential in relation to technology in the programmable world is related to social aspects in that it enables individuals to communicate and socialize with others and engage in activities such as access to education and knowledge (Gupta 2013).

References

Gupta, A 2013, ‘Environment & PEST Analysis: An Approach to External Business Environment’, International Journal of Modern Social Sciences, vol. 2, no. 1, pp. 34-43.

Howard, T 2007, ‘An analysis of the environment and competitive dynamics of management education’, Journal of Management Development, Vol. 26 Iss: 1, pp.9 – 21.

Nokia 2015, Innovation and Possibilities, accessed 26 April 2016, <http://company.nokia.com/sites/default/files/download/investors/nokia_ar15_uk_full_4.pdf>>

Nokia 2016, Key Factors affecting our approach, accessed 26 April 2016, <http://company.nokia.com/en/our-approach/key-factors-affecting-our-approach>.

Nokia Solutions and Networks 2016, What will 2013 bring? The major trends, accessed 26 April 2016, <http://networks.nokia.com/news-events/insight-newsletter/articles/what-will-2013-bring-the-major-trends>.