Macro Environment Influence On Nokia Corporation

According to Corporation Nokia (2002), technology plays a fundamental role in the success and existence of Nokia Corporation. With the introduction of computers and internet the world has become more unpredictable and uncertain that man is confused on the way the world is moving. Technology produces new products in the market. This means that for any business to remain competitive, it should be more innovative as well as adapt quickly to the new technology. Change in technology would lead to quality goods and services which in turn benefits the consumer. More so, the consumer has large choice of goods and services to choose from hence lowering the price of products and services. Advancement in technology can also lead to innovation and invention of new goods and services. When a business firm embraces new technology in its daily operation, it will mean that it would better place compared to other organization hence improving its goods and services.

Demographic

The availability of market forms the backbone of every business in relation to its survival. Without people there would no business firms. Demography influences Nokia Corporation to a great degree in that companies manufacture goods depending on the population of the people. Three factors influence business operations include; Sex, gender and sex ratio. If for instance there are more boys than girls, it means there is more demand for goods and services belonging to boys than girls. On the other hand more people in the population fall under working class, it means more demand for goods and services belonging to this class of people (Corporation Nokia, 2002).

Conclusion

It is therefore clear that macro environmental forces have great impact on Nokia Corporation as a business firm but despite these challenges, firms should adopt new mechanism that would assist them in remaining competitive in the market.

This entry was posted in Economics Essay and tagged , , , , . Bookmark the permalink.