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    Nokia

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    Khaled Hasan Khan
    Nokia has multiple integrated mechanisms for encouraging innovation including venture organizations, a research center, and venture partners. Ideas are collected, evaluated, and developed through various incubation units and teams. Successful innovations are spun out as independent businesses or developed further internally.

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    Nokia

    Uploaded by

    Khaled Hasan Khan
    927 views2 pages
    Nokia has multiple integrated mechanisms for encouraging innovation including venture organizations, a research center, and venture partners. Ideas are collected, evaluated, and developed through various incubation units and teams. Successful innovations are spun out as independent businesses or developed further internally.

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    Nokia has multiple integrated mechanisms for encouraging innovation including venture organizations, a research center, and venture partners. Ideas are collected, evaluated, and developed through various incubation units and teams. Successful innovations are spun out as independent businesses or developed further internally.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    927 views2 pages

    Nokia

    Uploaded by

    Khaled Hasan Khan
    Nokia has multiple integrated mechanisms for encouraging innovation including venture organizations, a research center, and venture partners. Ideas are collected, evaluated, and developed through various incubation units and teams. Successful innovations are spun out as independent businesses or developed further internally.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    Nokia

    Nokia has a number of integrated mechanisms and


    organisations for encouraging and searching for
    innovation: Nokia Ventures Organisation; Nokia
    research Centre; and Nokia Venture Partners; Nokia
    Innovent; and Nokia Growth Partners.
    Nokia Ventures Organisation has as its mission the renewal of Nokia. Nokias
    venturing activities have created independent businesses, contributed to the growth
    and profitability of core business, provided financial returns in their own right and
    provided intangible assets and insights. It approaches its mission from two directions.
    Firstly it tries to identify broad opportunities based upon industry analysis and
    developing new ventures based on Nokia employees ideas as well as those from
    external sources. Nokia has an annual Venture Challenge ideas campaign for
    employees. But it also collects ideas from a broad network that extends beyond
    Nokia and includes external research centres, academics, business partners and
    entrepreneurs. In collaboration with other Nokia units it systematically scans
    emerging trends and disruptions from the perspectives of technology, business and
    users to spot opportunities.
    The Nokia Research Centre explores new concepts, applications and technologies.
    On the one hand the Centre develops disruptive technologies that go beyond the
    current state-of-the-art and on the other hand it supports the locally based product
    development units with technological expertise. The business units fund the majority
    of the research undertaken by the Centre. In both cases the Centre helps develop
    new business/venture ideas.
    Ideas are collected and evaluated by New Business development teams across
    Nokia. New business cases are developed for the most promising ideas and, where
    appropriate, these are developed further in incubation units of the business unit
    where the objectives and competencies best match the scope of the idea and the
    resources needed to develop it. Projects where the business case is not yet clear or
    where there are many opportunities to be explored continue to be incubated in the
    Research Centres incubator unit. Later, when the business case is clear, they are
    transferred to the Ventures Organisation. If the technology to support the business
    idea has not yet been developed, Nokia Ventures Organisation will commission
    technology research and development from the Research Centre or outside partners.
    Nokia uses the same venturing process throughout the organisation. The process
    ensures essential services and tools are available, facilitating the whole venturing
    process. Support includes personal guidance, dedicated resources, business
    planning and technology validation. A series of milestone reviews ensure projects
    move along.
    Nokia has three corporate
    venturing arms. Nokia Venture
    partners offer seed finance for
    early-stage business ideas to both
    internal and external ventures. It
    also offers support on legal,
    communications and human
    resources issues. Technology
    experts from the Research Centre
    also support Venture Partners in
    evaluating technologies that may
    2008 Professor Pal Burns. Extract from: Corporate Entrepreneurship: Building the
    Entrepreneurial Organization (2nd Edition), Paul Burns, Palgrave Macmillan, 2008.

    be invested in. Nokia Innovent is its early-stage focused development team and
    Nokia Growth Partners invests in mid- to late-stage mobile technology companies.
    Both provide external funding only and focus on Nokias broad vision of Life Goes
    Mobile.
    Examples of Nokias innovations coming through this integrated network include:
    Nokia One Mobile Connectivity Service This offers corporate employees easy
    and secure access to mobile email, calendar, directory, contacts and mission
    critical corporate applications from a mobile phone.
    Nokia Mobile RFID Kit This Radio Frequency Identification (RFID) Kit integrates
    reader technology with the phone and allows mobile phones to be used to access
    data and initiate familiar mobile phone functions simply by touching a smart
    object with the phone. It is designed for use by security and maintenance service
    personnel.
    Nokia Lifeblog This is a PC and mobile phone software combination that allows
    you to keep a real-time multimedia diary text, photos, videos, text messages
    with clear chronology.
    Up-to-date information on Nokia can be found on their web site: www.nokia.com
    Questions
    1. Compare and contrast the processes of Nokia designed to encourage innovation
    with those of 3M.
    2. Do you consider them more focused? If so, on what and is this a good thing?

    2008 Professor Pal Burns. Extract from: Corporate Entrepreneurship: Building the
    Entrepreneurial Organization (2nd Edition), Paul Burns, Palgrave Macmillan, 2008.

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