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Business Environment in Finland

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Submitted By sibmsudhir12
Words 9090
Pages 37
History
Once upon a time, by the Nokianvirta river…
In 1865, mining engineer Fredrik Idestam sets up his first wood pulp mill at the Tammerkoski Rapids in south-western Finland. A few years later he opens a second mill on the banks of the Nokianvirta river, which inspires him to name his company Nokia Ab in 1871.
How apt that Nokia begins by making paper – one of the most influential communications technologies in history.
The galoshes revolution
OK, so it’s not exactly a revolution. But in 1898, Eduard Polón founds Finnish Rubber Works, which later becomes Nokia’s rubber business, making everything from galoshes to tyres.
Nokia rubber boots become a bona fide design classic, still on sale to this day – though we no longer make them.
Electronics go boom
In 1912, Arvid Wickström sets up Finnish Cable Works, the foundation of Nokia’s cable and electronics business.
By the 1960s, Finnish Cable Works – already working closely with Nokia Ab and Finnish Rubber Works – starts branching out into electronics. In 1962, it makes its first electronic device in-house: a pulse analyser for use in nuclear power plants.
In 1963, it starts developing radio telephones for the army and emergency services – Nokia’s first foray into telecommunications. In time, the company’s MikroMikko becomes the best known computer brand in Finland. And by 1987, Nokia is the third largest TV manufacturer in Europe.
Three become one
Having been jointly owned since 1922, Nokia Ab, Finnish Cable Works and Finnish Rubber Works officially merge in 1967. The new Nokia Corporation has five businesses: rubber, cable, forestry, electronics and power generation. But as the 1980s come into view, it’s an entirely new industry that makes Nokia a household name around the world.
Big hair, big shoulder pads, big phones
By the late 1970s and early 1980s it seems everything – from Tom Selleck’s moustache

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