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Helping Finnish companies to make strategy work more impactful – August extends collaboration with Timo Vuori

Timo Vuori, Strategy Professor at Aalto University, takes an Executive Advisor role at August. Timo has worked with the leading Finnish companies and leaders and his work has gained wide international recognition. For example, his detailed study of how Nokia’s executives and board used scenario planning was published in Harvard Business Review [link 1]. Most recently, Timo wrote a book, Living Strategy [link 7], with Timo Ritakallio on how to use scenario planning as an active part of the strategy process.

After the publication of his book, Timo Vuori has trained over 20 CEOs on the principles of Living Strategy and designed and facilitated the process of forming Aalto University’s new, Living Strategy [link 8]. More generally, his research on the psychological underpinnings of effective strategy work has been widely discussed in the Finnish [links 2, 3, 4] and international [links 5, 6] media, and cited in e.g., Risto Siilasmaa’s Transforming Nokia and Yves Doz’s The Ringtone.

Timo Vuori brings strong complementary capabilities and tools to the benefit of August’s current and future clients. While we have conducted some projects together in the past – with strong results [links 9, 10] – the now formed deeper collaboration enables us to have a more extensive and longer-lasting impact. Together our vision is to help our clients to make their strategy work more effective both psychologically and analytically: to strategize in a way that truly challenges and expands their thinking and engages the organization.

One of the key tools in dynamic strategy work are scenarios. Scenario-based strategy work – when done correctly – enables leaders to move beyond their conventional thinking. It ensures a robust strategic playbook as very different types of events and outcomes have been considered. In addition, active scenario-based working can increase organization members’ commitment to the organization and lead to more effective strategy implementation. However, these benefits materialize only if the management creates a process that optimally combines analytical and psychological considerations to facilitate ideation and decision making. Executives must first accept their own imperfection. Sometimes they even need to update their own thinking. This is enabled by a structured process that provides people the opportunity to voice their inputs while reflecting their own preferences critically. Timo Vuori’s extensive experience from addressing these situations is now available to August’s clients who want to engage their organization’s to scenario-based strategy work.

We are thrilled about this possibility to work with Timo Vuori and to further strengthen our services to our clients. If you want to learn more about our thinking, or want to discuss applicability to your company, don’t hesitate to contact Timo or Tomi.

 


Links:

1: https://hbr.org/2018/05/how-nokia-embraced-the-emotional-side-of-strategy

2: https://www.hs.fi/talous/art-2000005692852.html

3: https://www.hs.fi/politiikka/art-2000002826845.html

4: https://www.mtv.fi/sarja/huomenta-suomi-33001003008/pelolla-johtaminen-892128

5: https://www.intheblack.com/articles/2017/03/01/nokia-outsmarted-collective-fear

6: https://www.ft.com/content/08a26e3a-b1ca-11e8-99ca-68cf89602132

7: https://shop.almatalent.fi/elava-strategia?gclid=Cj0KCQiAheXiBRD-ARIsAODSpWMcT-PFnF6yIEoTZQ-HhMjn2LswT–ZjDJEI_XEU4Y19e6E5K-r3TwaAgeCEALw_wcB

8: https://www.aalto.fi/news/the-preparation-of-a-living-strategy-launched

9: https://dif.fi/teema-artikkelit/2017/q2-hallitus-ja-henkilosto/mika-todella-ohjaa-organisaation-toimintaa/

10: https://www.august.fi/winning-through-better-organizational-performance/