Nokia’s Comeback Explained: Emotion, Strategy & Boardroom Decisions
Release Date: 03/18/2026
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Nokia’s Comeback Explained: Emotion, Strategy & Boardroom Decisions
The Innovation Show
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...
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The Innovation Show
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...
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Who Killed Nokia? How Fear and Emotion Derail Strategy, Innovation, and Truth-Telling.
The Innovation Show
Nokia didn’t lose the smartphone battle because it lacked smart people or a strategy deck. It lost because fear and shared emotions quietly reshaped attention, filtered information, and weakened truth-telling. Quy Huy (INSEAD) and Timo Vuori (Aalto University)—authors of the 2016 research on Nokia’s collapse—explain how leaders hid emotions behind “technology and finance talk,” how dissent was punished, and how misaligned fearformed: executives feared competitors and shareholders while middle managers feared their bosses. We connect the dots to psychological safety, power traps,...
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The Strategic Genius of Taylor Swift with Kevin Evers-esv2-96p-bg-10p
The Innovation Show
In this episode, Aidan McCullen welcomes Kevin Evers, editor at Harvard Business Review Press and author of There’s Nothing Like This: The Strategic Genius of Taylor Swift. Together, they explore how Taylor Swift built not just a music career—but a global business empire. From fearless reinvention and blue ocean strategy to her mastery of fan engagement and brand evolution, Taylor Swift’s rise is a masterclass in innovation, leadership, and vision. Learn how her career mirrors the strategic moves of top businesses, and what leaders, entrepreneurs, and creators can take away from her...
info_outlineHow 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:
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Why strategy fails when emotions go unmanaged
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How boards can shape better decisions by regulating—not suppressing—emotion
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The role of consultants, teams, and partners in expanding strategic thinking
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Why discussing failure systematically leads to better outcomes
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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.