Winning Across Global Markets

Winning Across Global Markets examines how 145-year-old Nokia grew from a paper mill in Finland to a multinational telecommunications leader. Why are Nokia's lessons critical for other companies and industries? While multinationals based in large countries benefit from inherent advantages--such as a home base that often accounts for 30 to 50 percent of their revenues--multinationals based in smaller countries such as Nokia, enjoy no such competitive edge. Nokia, in fact, generates less than 1% of its revenues in its home base. To such a company, global competitiveness is a matter of life and death. With unparalleled access to Nokia's leadership, Winning Across Global Markets reveals the remarkable story of Nokia's resilience and endurance. Shows how Nokia's flexibility and focus on its people and local markets drive its distinct global approach.

• Includes exclusive interviews with Nokia's senior executives and key partners
• Provides a roadmap for developing, capturing, and sustaining global advantage

This book provides a roadmap for developing, capturing, and sustaining strategic global advantage in today's ever-changing world.

Introduction 1

1 Success Through Legacy and Globalization 15

2 Strategy Through the Executive Team 37

3 How Nokia’s Values, Culture, and People Contribute to Success 64

4 Building a Globally Networked Matrix Organization 94

5 Innovating Globally via R&D Networks 114

6 Developing Strategic Capabilities Across the World 142

7 How Nokia Is Growing and Transforming Its Business Areas 169

8 Competing in Global Markets: The Rise of Large Emerging Economies 196

9 How Nokia Seeks to Sustain Leadership 219

Nokia’s Key Executives 238

Notes 244

Acknowledgments 271

About the Author 277

Index 279

Dan Steinbock is the research director of international business in the India, China, and America (ICA) Institute, which is working to foster knowledge on the rise of China and India and their impact on global markets. A senior Fulbright scholar, Steinbock is also faculty spokesman for the Forum to Advance Mobile Experience (FAME), an initiative by the CMO Council, whose strategic interest communities include over 20,000 global executives across nearly 100 countries. He is on the board of journals in the U.S., Europe, and Asia, as well as on the Market Advisory Board of BusinessWeek. He divides his time among New York City, Shanghai, and Helsinki.

Winning Across Global Markets

Winning Across Global Markets offers an insightful examination of how Nokia, a noted Nordic conglomerate, became a fiercely competitive global giant.

In this groundbreaking book, Dan Steinbock explains how Nokia's story offers strategic lessons for other global companies across industries. Why? While most large multinational companies enjoy inherent advantages in their home market (which often account for 30 to 50 percent of their revenues), a multinational such as Nokia—based in a small country and with a home base market that generates less than 1 percent of its revenues—needs to develop an innovative global strategy to thrive. To such a company, global advantage—centered on local success—is a matter of life and death.

Based on exclusive access to and interviews with senior executives of Nokia—from the CEO and chairman to regional and functional chiefs—Winning Across Global Markets provides established industry leaders insight into how to develop, capture, and sustain competitive advantage. To ambitious challengers in emerging economies, the book offers a primer on how to topple the giants.