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Lauri Ratia, teollisuusneuvos (an honorary title) and M.Sc. (Eng), responded positively to the invitation from Aalto University to give a guest lecture on 7 March 2025 on how companies navigate change and how to lead transformation. The lecture was part of the Master's level Strategic Change Management course at the School of Business, which focuses on managing and implementing strategic change in organisations.

The course introduces students to the perspectives, models and traditions of strategic change management, considering, for example, different change roles, interventions and making change meaningful. They will learn from experienced business professionals about practical examples of transformational leadership in different contexts. In addition, groups of students will explore and analyse strategic change management in their chosen organisation using a variety of tools.

The course is taught by Senior Lecturer Kirsi Eräranta together with postdoctoral researcher Anna Maaranen. ‘I would like to warmly thank Lauri Ratia for his very insightful presentation and the lively discussion with our students that followed,’ says Kirsi Eräranta.

Crises sneak in slowly

Lauri Ratia said that crises tend to creep up quietly. ‘A company's finances may have been in a downward spiral for some time until you reach a situation that requires change to correct.’

Ratia says it is important to be systematic and thoroughly familiar with the facts when managing change. Planning for transformation involves updating and revising the business model. ‘Big picture issues need to be broken down into smaller parts. Change management must always find the courage to take difficult decisions and to implement them.’

‘When starting to implement a transformation, you need to assess the current situation and weigh up whether there is sufficient capacity within the company to implement the change programme and how the change can be financed - how much can be financed from your own savings and whether external funding is needed on top of this. In larger companies, external assistance is usually also needed to ensure that a thorough analysis can be carried out quickly. Then we can specify the objectives, responsibilities and timeframes.’

People and communication are important

Lauri Ratia emphasized the importance of involving people in the transformation process. ‘Not everyone will ever be warm to change, but some people are ready to get involved. People are led from both the front and the middle in a change situation. Both management and the organisation as a whole are generally encouraged to find new, radical solutions. Occasionally, board members are also involved in operational tasks. The support of the owners is absolutely crucial, without it change is not possible. Of course, the customer must be put at the centre!’

‘It's important to communicate a lot; openly, systematically and honestly. You have to articulate what your goals are, and you must talk about the difficult things, like the change negotiations that always happen in big transformations. Trust between all parties is very important, and communication is the key to building it. In fact, you can never communicate too much.’

‘Thank you for a lively discussion!’

At the end of the lecture, Lauri Ratia gave a few words of encouragement and thanks to the audience. ‘I wish you all a good boss! I encourage you to learn something new every day, and if you have the resources, always work a little harder than the person next to you. It's worth taking opportunities, but with a certain amount of humility.’

‘Thank you for being so active and engaged in the lecture! You students asked questions and follow-up questions much more than my audience usually does when I give presentations. It was great to share this morning with you!’


Text: Terhi Ollikainen
Photos: Kirsi Eräranta (upper) and Anna Maaranen