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Introduction

In: Creating Value in the Digital Era

Author

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  • Alf Chattell

Abstract

An MCI/Gallup survey of 550 US CEOs revealed that 38% of them believed that it was industry newcomers who had taken the best advantage of change, and that the majority of these had done so by changing the basis of competition. Nokia is a good example of unconventional direction setting — a focused reinvention involving a move into new areas requiring entirely new capabilities. Nokia’s background is as a 130 year old forest products company. In the 1980s it diversified into TV manufacturing but achieved no profit. Later it built and sold a small computer division. By 1991/2 it was in deep trouble and was experiencing terrifying losses. In 1992 a new CEO came on-board. He understood the future potential of digital cellular communications and took Nokia into that field, outsourcing much of the design, chip production, component production and selling worldwide. In two years Nokia had gone from being a tiny cellular operation to $2.25 billion in revenue with 20% profit.

Suggested Citation

  • Alf Chattell, 1998. "Introduction," Palgrave Macmillan Books, in: Creating Value in the Digital Era, pages 1-6, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14711-3_1
    DOI: 10.1007/978-1-349-14711-3_1
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