Nokia: The Shrimp That Fell Asleep

A company can make no mistakes at all, but if its strategy and way of thinking are not able to adapt quickly to changes in the environment, it will inevitably disappear.

Thursday, March 3, 2016

EDITORIAL

Nokia's CEO said: "We didnt do anything wrong, but somehow, we lost"

Nokia was the shrimp that was ahead of the pack... but it has become the best example of the old latin adage "a shrimp that falls asleep, gets carried away by the current." The failure of the technology giant was not due to technical mistakes made ​​by company leaders, but the inability and perhaps unwillingness to change and understand that the environment they had to compete in had changed.

As noted by an article published by Ziyad Jawabra, an expert on management and coaching, Nokia "... 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... "

Although Nokia was eventually acquired by Microsoft, in a transaction from which many doubted would happen given the difficult financial situation faced by the Finnish company, it is possible that their ex-directors never stopped to question what they could have done differently in order to change the outcome.

Jawabra concludes that "...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 you have to give yourself a second opportunity to want to change. Being forced by others to change does not work.

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.”


See "Nokia Failed Because They Did the One Thing That Drives Most Companies into the Ground".



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