What if Nokia saw the iPhone coming and still couldn't stop it?

In this episode, strategy professor Timo Partanen, former Nokia market intelligence leader (2001–2009), reveals what was really inside Nokia's internal iPhone threat briefing presented to senior leadership.

Nokia had tracked Apple for years. They saw the signals like touchscreen innovation, strategic hires, and shifting user expectations. The iPhone's hardware wasn't the surprise.

The real shock was Apple's ecosystem.

From its exclusive partnership with Cingular (AT&T) to alliances with Google and Yahoo, Apple didn't just launch a product, it launched a new business model. One that exposed Nokia's blind spot: a hardware-first culture in a platform-driven world.

We explore why clear warnings didn't lead to action, how strategy broke down between leadership and execution, and what today's companies can learn about disruption, partnerships, and transformation.

This is a story about missed shifts, internal friction, and the difficulty of turning insight into impact.

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.

Most people believe the iPhone killed Nokia.

But the real story behind Nokia's collapse is far more complex — and much more human.

At its peak Nokia controlled nearly 50% of the global mobile phone market and had over one billion customers. Yet within a few years the company lost the smartphone war as Apple and Google reshaped the industry.

In this episode we continue our deep dive into the research of Quy Huy and Timo Vuori, whose study reveals how fear inside Nokia distorted communication and decision-making. Senior leaders felt intense pressure from competitors and investors, while middle managers feared delivering bad news. The result was silence, denial, and what the researchers call "collective lies."

We explore how Nokia became trapped by its Symbian platform, how short-term financial pressures undermined long-term innovation, and why leadership dynamics and organizational culture can determine the fate of even the most dominant companies.

The lesson: strategy often fails not because of technology — but because leaders stop hearing the truth.