While there are countless articles and expert analysis on Nokia's recent under performance, it is always interesting to relook the history not after the events but when the events were happening.
I reread "Alchemy of Growth", a decent book by Mckinsey consultants (published in 2000). Though theory is still relevant but many of the succesful examples mentioned in the book have lost their way. (It is interesting to reread the so called successful management books after a decade or two of their publishing and see whether the analysis stood test of the time.)
Nokia was at peak of its success then. In the above book a quote by Nokia's then director of marketing, Matt Wisk caught my attention
"We are always looking for new ways to blend technology with today's lifestyles. What Nokia has inspired marks the transition of the phone - used not only for its function as a personal communication tool, but also as a fashion accesory." .... It goes on explaining that how Nokia turned cellular phones into a fashion accessory by offering easy to use devices in vivid colors such as purple, opal, green, blue, and pewter.
This sums up why Nokia has lost its way. Nokia thought that succes factors in phone were not features or cost but fashion. No wonder later Nokia was out smart on top by Apple and RIM ( though RIM is losing now as well) and on bottom by Asian Manufacturers.
More analysis on why Nokia and other companies in Telecom lost their way and Why future is Telecom ?
Read: "Who is that lady?" A business fiction novel
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Little bit of information of my new book:
"WHO IS THAT LADY?"
Website/ Where to buy - http://www.whoisthatlady.com
Facebook Page - http://www.facebook.com/WhoIsThatLady
A Business Fiction book - "Who is that lady?"
Website/ Where to buy - http://www.whoisthatlady.com
A Business Fiction book - "Who is that lady?"
The book is about an idea that is converted into a billion dollar business, about a belief that an idea can be implemented and about formulating right strategy for converting an idea into a business. The plot harmoniously weaves around complex business fundamentals, required to set up, run and make a business successful, presented in lucid, easy to understand style. The novel is about implementation, about challenges that can be overcome, about success, about friendship, about passion, and about fun above all! All in all a hilarious and inspiring story on entrepreneurship and idea possibilities!
The book has got good and encouraging reviews from readers so far.
Dr. T. R. Madanmohan ( Ex Associate Professor IIM Bangalore ) says, “Reading ‘Who is that lady?’ brought vividly the moments of celebration and anguish of "identification of business opportunity", validation and construction of business model and implementation. A wonderful, written as a novel, that should be read by all current and future business leaders. Wish the book was available around 2005 for my class of Managing Technology led business at IIM Bangalore. I am sure the class would have devoured and gained much more from the book.”
Sathish Sheshadri ( Management Consultant at IBM) says, “India is renowned for using stories to convey great life lessons. Who is that Lady could well become such a legendary story on the topic of innovation and entrepreneurship. Everyone from students to CEOs will find a lot to reflect on, from the pearls of wisdom that the authors have shared through the protagonist, Pratik.”
Major Pooja Gupta says, “The book makes you think... if there is anything in this world which is impossible.”
Subir Dhar (Principal Consultant at Infosys) says, “This book will inspire India ’s restless youth to take up entrepreneurship.”
Neerav Nimesh (Entrepreneur) says, “An entertaining book, which is not only a good novel but also a very good book on management. The author has been able to explain the fundamentals of every aspect of business whether marketing, planning, strategy, organizational structure, H.R., lines of communication, team work, goal setting etc and has done so without appearing to dispense "gyan".
Website/ Where to buy - http://www.whoisthatlady.com
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