PROCESS APPROACH
Management system is based upon all stakeholders’ needs and expectations
Nokia's corporate governance practices comply with the Corporate Governance Recommendation for Listed Companies approved by the Helsinki Exchanges in December 2003, effective as of July 1, 2004. The Recommendation seeks that the company describes the manner in which the internal audit function of the company is organized. As Nokia has comprehensive risk management and internal control processes in place, there is no separate internal audit function at Nokia. At Nokia, the approval of the stakeholders is needed before any decision is taken.
Nokia follows the requirements of Finnish law with respect to the internal audit function and the approval of equity compensation plans. Under Finnish law, stock option plans require shareholder approval at the time of their launch. All other plans that include the delivery of company stock in the form of newly issued shares or treasury shares require shareholder approval at the time of the delivery of the shares or, if shareholder approval is granted through an authorization to the Board of Directors, not earlier than one year in advance of the delivery of the shares.
Systematic implementation of the policies, strategies, objectives and plans of the organization
Nokia’s future success depends on delivering great experiences to their customers by creating products and solutions that work seamlessly and are appealing. Their strategy contains the core elements required to accomplish this, and is optimized for tapping into the mobile industry’s global growth potential as it unfolds.
Vision and mission – “If we focus on people, and use technology to help people feel close to what matters, growth will follow. In a world wher ...