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November 17, 2021 | Brief
Sweden-based technology firm Ericsson announced at the end of 2020 that it had completed its business turnaround and achieved its target operating profit two years ahead of schedule.[1] The firm achieved these results through a strategic pivot and by embarking on its own business transformation, enabled by a strong focus on digital capabilities. Using customer experience as its north star, Ericsson is focussing on upskilling its workforce in digital skills, developing digital leaders who drive digital transformation, and embarking on a cultural movement to fortify a more capable, resilient, and future-focused organization.
Building a Digital, Future-Focused Business
Ericsson is a Sweden-based leader in 5G technology, supplying communication infrastructure, services, and software to the telecom sector and other sectors. The company has more than 100,000 employees and operates in over 180 countries.
Ericsson implemented a focused strategy starting in 2017 to strengthen its core business of supplying communication infrastructure, services, and software to the telecom sector. Ericsson continues to lead the way in 5G technology, with company CEO and President Börje Ekholm pointing out recently that the “the COVID-19 pandemic is a humbling reminder that wireless connectivity fundamentally underpins future global growth and so urgent deployment is critical.”[2]
Ericsson is building a digital, future-focused business through the following actions:
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