BM3399 Strategic Management Strategic Plan: Nokia | Group F4 | 905690745162235792279447892599 | | |

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Contents 1. Introduction 3 2. Internal Analysis 3 2.1. Resource Analysis 3 2.1.1. Hierarchy of resources 4 2.1.2. Resource Portfolio 4 2.1.3. Core Competencies 5 2.1.4. Summary of Resource Analysis 5 2.2. Strategic Business Unit (SBU) Analysis 5 2.2.1. Identification of SBUs 6 2.2.2. Summary of SBU Analysis 6 2.3. Value Chain Analysis 7 2.3.1. Summary of Value Chain Analysis 8 2.4. Financial Analysis 8 3. External Analysis 9 3.1. PESTEL Analysis 10 3.1.1. Summary of PESTEL 10 3.2. Porter’s Five Forces 11 3.3. Industry Life Cycle Analysis 12 3.3.1. Summary of
In fact peripheral resources can often be outsourced (Chaharbagi & Lynch, 1999). Competitive advantage is offered by the competitive resources, while the strategic resources represent the resources that are often unique to a company and are difficult for competitors to imitate (Chaharbagi & Lynch, 1999).

3.2.2. Resource Portfolio
Hamel and Prahalad (1994) suggest that firms should see themselves as a collection of resources and competencies and as such a key part of future strategy involves identifying and developing these resources.

Importance of resource in creating value | High | Achilles Heels * Development of in-house mobile operating systems | Crown Jewels * Design capabilities * Brand * Global supply chain | | Low | Sleepers * Nokia Institute of Technology in Brazil | Black Holes * NAVTEQ map technology | | | Low | High | | | Resource Strength in Comparison to Competitors |
Source: (Hooley, 2012) 3.2.3. Core Competencies
These can be considered as Nokia’s unique strengths. The resource-based view of strategy formulation suggests that the key to profitability comes through exploiting these competencies (Grant, 2010). * Design Capabilities – Highly respected and original in their design of mobile handsets. * Brand – Allows the sale of handsets, transmitter equipment and base stations in countries all over the world. * Global supply chain – Ensures production is not delayed