Nokia's Comeback Explained: Emotion, Strategy & Boardroom Decisions

How did Nokia survive one of the most dramatic collapses in business history? In this episode, we explore the hidden driver of strategy under pressure: emotion. Drawing on research based on 100+ interviews inside Nokia between 2007 and 2013 , INSEAD's Quy Huy and Aalto University's Timo Vuori join Aidan McCullen to explain how large organizations can execute radical pivots—not just through analysis, but through structured emotion regulation. We unpack how Nokia moved from denial, fear, and rigid thinking to a disciplined, data-driven, and emotionally aware strategy process that enabled it to exit mobile phones and rebuild around networks and 5G. You'll learn: Why strategy fails when emotions go unmanaged How boards can shape better decisions by regulating—not suppressing—emotion The role of consultants, teams, and partners in expanding strategic thinking Why discussing failure systematically leads to better outcomes How to design strategy processes that work under uncertainty This is not just a story about Nokia—it's a blueprint for any organization navigating disruption, uncertainty, and high-stakes decisions. Sponsored by Kyndryl – helping the world's leading organizations modernize and run mission-critical systems for smarter decisions and lasting competitive advantage.