Nokia and Web 2.0: How social media aids innovation

Abstract

Purpose

The purpose of this paper is to review the latest management developments across the globe and pinpoint practical implications from cutting‐edge research and case studies.

Design/methodology/approach

This briefing is prepared by an independent writer who adds their own impartial comments and places the articles in context.

Findings

Knowledge is undoubtedly among any firm's most critical assets. Without it, there would be little hope of succeeding with aims to innovate, satisfy customer needs or gain any lasting competitive advantage. Companies must therefore put considerable emphasis on knowledge creation and management. Networking and communication are key components of the knowledge generation process. Remember how British Telecom (BT) used to remind us that it's good to talk? Finding different ways for people to share ideas is thus essential; and such objectives should not be restricted by organizational boundaries. Interaction with various external stakeholders is equally likely to unearth that vital piece of knowledge which can inspire a new innovation further down the line.

Practical implications

The paper provides strategic insights and practical thinking that have influenced some of the world's leading organizations.

Originality/value

The briefing saves busy executives and researchers hours of reading time by selecting only the very best, most pertinent information and presenting it in a condensed and easy‐to digest format.

Citation

(2013), "Nokia and Web 2.0: How social media aids innovation", Strategic Direction, Vol. 29 No. 8, pp. 19-21. https://doi.org/10.1108/SD-06-2013-0035