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Purpose and benefits

In Europe, high-tech corporate superstars are conspicuous by their absence. Names like Philips and Siemens just don’t set the pulse racing. The exception to the rule is the Finnish company Nokia. It has created a buzz around its products unmatched by other European companies in recent years. Much of the credit goes to Jorma Ollila, who became CEO in 1992.Ollila took a 147-year-old company, comprised of an assortment of businesses from timber to rubber boots, and transformed it into a mobile phone colossus. In 1998, it passed the United States company Motorola as the world’s number one mobile phone manufacturer. In less than eight years, Ollila had made Nokia the most valuable company in Europe.