How fear of change, lack of innovation led to Nokia’s failure?

Doaa m Salman Abdou; Ranim Hussein

doi:10.36096/ijbes.v2i4.222

Authors

Doaa m Salman Abdou msa https://orcid.org/0000-0001-5050-6104
Ranim Hussein msa https://orcid.org/0000-0003-1482-0096

DOI:

https://doi.org/10.36096/ijbes.v2i4.222

Keywords:

market failure, technology, Nokia

Abstract

The aim of the paper to investigates the reason for business failure using Nokia as a case study. The paper applies the explanatory conclusive research design since there are cause and effect relations that seek to provide a better understanding of the reasons for the market failure. The mobile manufacturing sector is the most interesting and innovative of all in the “Information & Communications Technology” sector (ICT). Nokia was once known as the market’s dominant company, leader, and pacesetter until it underwent a tremendous market failure. The aim of this research is to shed light on Nokia’s failure in the market due to its complacency & fear of change, lack of innovation moving too slowly in terms of being too late in making decisions & inventing of the iPhone. Paper elaborately discusses and analyses the failure reasons supported by a literature review in addition to the characteristics of this industry and its market structure. Finally provide advice for business makers

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