Globalization Strategy of Nokia — страница 7

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Culture of a MNC is very vital when conducting business. Colleagues of different ethnic groups should be clear in communication as well as in interaction. While understanding the core cultural competencies within MNC it is equally important to apply them in the local contents (Smedley, 2008). Some of the key highlights in the ‘Nokia Way’ can be listed as follows: • In 2007, it held 16 "Nokia Way Cafe" events, which saw 2,500 employees worldwide getting together to discuss what they perceived the driving cultural values of their company to be. • The four values, ‘Engaging you’, Achieving together’, ‘Passion for Innovation’ and ‘Very Human’ are drilled down to the new recruits • Job rotation is highly valued by the employees and transparency in

selections • Work-life balance and flexibility in home worker facility As a MNC the belief that a company should take into account the social, ethical, and environmental effects of its activities on its staff and the community around it is defined as the Corporate Social Responsibility (CSR). Let us also look at Nokia’s belief in company's accountability towards the community.Some of the key CSR initiatives of Nokia are as follows: • A global leader in recycling, with the industry’s largest voluntary recycling program. It is now operating in 85 countries, and working hard to increase awareness to encourage more customers to recycle their old phones. • Responsible ways of working have become business as usual at Nokia. • China headquarters in Beijing has received

global recognition as one of the most environmentally sensitive buildings in the world. • Nokia also has been highly ranked for its environmental sustainability by several organizations worldwide. These include the Dow Jones Sustainability Index, the Carbon Disclosure Project and more recently, the Greenpeace Green Electronics Guide. • The GSM Association recently recognized Nokia's commitment and actions with its environmental achievement award for Nokia this year. • Nokia also is working with the industry to reduce the environmental impact of mobile phone chargers.   Summary Mobile phones have already become part of our lives. People want to be truly connected, independent of time and place, in a way that is very personal to them. Nokia’s promise is to connect people

in new and better ways. Nokia’s strategy is to build trusted consumer relationships by offering compelling and valued consumer solutions that combine beautiful devices with context enriched services. But at the same time as a multinational corporation Nokia has to be mindful in how the future is planned and executed. This paper gave some insight information of Nokia’s market entry strategy, foreign direct investments, foreign exchange risk culture and environment. Lessons can be learnt from Nokia on the importance of interacting and integrating these segments as often as possible in order to ensure survival in economic turmoil. New markets has to be tapped, new products and services have to be invented and above all a positive culture should be encouraged to be adoptive to

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