Managing through uncertain times, empowering people and resilience were among the issues discussed last week at a Boardman and Amcham Finland networking event hosted by Roschier Attorneys Ltd.

Stefan Lindström, Finland’s Ambassador of Digitalization and Technology from the Ministry for Foreign Affairs of Finland, addressed the current geopolitical landscape and how technological developments are linked to it.

His remarks were followed by a panel discussion of business leaders: Christine Rovelli, Finnair’s Senior Vice President, Strategy and Fleet, Rashmi Kasat-Majakorpi, Vice President, Digital Technologies from Metso Outotec and Juha Moisio CEO of Conlog Ltd. Amcham Finland CEO Alexandra Pasternak-Jackson moderated the discussion about what it means to be a leader navigating the unique challenges and opportunities of board and executive teams today.

“While we live interesting times, it also means a new beginning. We have many possibilities that bring us forward,” keynote speaker Lindström said.

As the world is challenged by high inflation and energy prices, war situations, COVID and a post-COVID reality, companies need to rethink their strategy.

“We have to think where we get with these situations and how do we prepare for these,” Lindström said.

Pasternak-Jackson noted Amcham Finland and Business Finland’s recently released “Finland as a Business Location Barometer” report that found 78 percent of companies surveyed in Finland can’t find the labor they need, meaning talent retention is a major issue into 2023 and beyond.

Geopolitics and megatrends remain as challenges companies

There are many external forces, for example geopolitics and megatrends, that companies and societies face today.

“Geopolitics, how countries talk to each other, it affects everything what we do,” Lindström said.

He noted polarization inside the USA is growing, and the country is changing fast. Interesting trends are the future relationship between the United States and China, and the relationship with Europe as the USA is looking for a new direction of where they want to go and put their emphasis on.

China is turning inward.

“However, China is also working to change the work of the international organisations from the inside. ”

At the same time, China is facing problems with an aging population.

“China’s population is now declining. In 25–30 years, there will be 400 million Chinese less. This means lack of workforce and wages getting up.”

According to Lindström, it is possible that Russia’s war against Ukraine will impact food politics.

When it comes to Finland and Finnish companies, resilience is the key. Resilience is a necessary skillset and boards need to actively work to foster it. Resilient technologies, supply chains and robust cybersecurity are needed. New technologies should be applied.

“Everything that can be digitalized, will be digitalized. You have to reinvent your company, otherwise you are going to be disrupted.”

How can a company survive in this complex and fast-changing environment?

“Make scenarios. Think where the world is going and what are megatrends. Ask yourself a question: what should we do, if.”

What’s leadership in 2023? – Listening and trusting people as well as investing into technology

In the panel discussion, panelists discussed leadership in 2023. Amcham CEO Alexandra Pasternak-Jackson, asked panelists the following question:

“How do you manage your people through difficult times like this?”

Christine Rovelli, Senior Vice President, Strategy & Fleet at Finnair, answered that being present is important.

“You need to be there and show that you are listening.”

Juha Moisio, CEO at Conlog said that he trusts the team and focuses on people’s strengths.

“I give people responsibility. I know I do not have all the answers, but the team has. Also, I focus on people’s strengths and not weaknesses.”

Rashmi Kasat, Vice President, Digital Technologies at Metso Outotec emphasized investing into people and technology.

“When you are in the middle of a game, don’t forget to acquire new technology and improve your and your team’s game. Lead and let lead.”

Another question Pasternak-Jackson asked from the panelists was the following:

“What is the piece of advice you are going back in 2023?”

Over-communicating, Christine Rovelli said.

“Never assume that somebody knows or understands what you said. It feels weird at first, but if you over-communicate, things will go much better.”

Juha Moisio said that he goes after his father’s advice.

“My father used to recognize everybody where he went. I follow in his footsteps. At work, I shake hands with everybody I have the opportunity to work with, and this gives me the moment of time with each individual in the company.”

Rashmi Kasat said that she has learned the field of technology, that there’s always someone smarter than you in the room.

“And I think it’s relieving.”

After the event, the participants had the opportunity to network. More pictures from the event can be found here!