Bold business decisions determine Finland’s direction

The solution to Finland’s economic growth is not found in a single law, budget session, or individual reform. It is born in thousands of companies, where decisions for growth are made every day.

In the third episode of Alma’s video podcast with the theme Finland to Growth, Kesko’s CEO Jorma Rauhala and Alma Media’s CEO Kai Telanne shift the focus from macroeconomics to the micro level: to companies and management, where growth ultimately happens.

Investments made in uncertainty go a long way

Both Rauhala and Telanne share a common experience as business leaders: the best investment decisions are often made when the market appears most uncertain.

Telanne cites Alma Media’s internationalization in the aftermath of the financial crisis as an example. Domestic business was under pressure, but the decision to invest in the future has retrospectively proven to be a decisive leap in growth.

Investment decisions are never entirely safe.

“The biggest risk in the long run is not making the wrong decision – but doing nothing. Companies with a healthy balance sheet have a special responsibility to act, not to wait, and to show direction through investments and renewal,” Telanne states.

Growth is a strategic choice

Rauhala refers to a McKinsey report that identifies differences between Finnish and international listed companies in growth targets, investment levels, and corporate culture. Based on the report, Rauhala raises the question of whether the hunger for sales and incentives encouraging growth are at a sufficient level in Finland.

“How much growth are we seeking? Are we content if we grow at the pace of the economy, or do we dare to aim for more?” Rauhala ponders.

Telanne notes that Finnish companies are often cautious and not as growth-oriented as in many other countries, for example, compared to Sweden.

“In the long run, growth stems from customer value. By doing things in new ways and scaling. And in this, we Finns still have much to learn,” Telanne summarizes.

Growth orientation is not just a strategy document, but concrete choices: where to invest, how much to allocate to product development, and what kind of sales culture is built within the company.

Technology is a tool, not a solution

According to Telanne, technology – digitalization, data, and artificial intelligence – is above all a tool for improving growth and productivity, not an end in itself. Its value is only realized when it is utilized to create meaningful benefits for customers and when there is the courage to scale and invest as opportunities arise.

Rauhala complements this perspective by emphasizing the importance of people and corporate culture. According to him, growth requires that organizations allow space for experimentation and the courage to do new things. At the same time, it is crucial how the value generated from experiments is brought to fruition: to improve customer experience, increase sales, or enhance operational efficiency.

Together, technology, bold action, and the ability to integrate lessons learned into business form the foundation for sustainable growth.

Finland’s economic growth is not born by waiting for more stable times, but by making choices even amidst uncertainty. Courage and long-term strategic thinking are the cornerstones of growth. When companies invest, jobs, productivity, and well-being are created. That is where Finland’s growth ultimately originates.

This article is a summary of Alma Media’s Sustainable Growth Accelerator video podcast. The topic of how Finland’s economic growth can be accelerated is discussed in three different conversations with Kesko’s CEO Jorma Rauhala and Alma Media’s CEO Kai Telanne. Watch all episodes!

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