Case: Suomen Voima - Strategy update

Suomen Voima is a Finnish energy company that focuses on electricity procurement and generation investments for its owners. The company operates on the so-called Mankala principle, whereby it produces electricity at cost price for its shareholders and does not seek to make a profit for itself. Suomen Voima is owned by several Finnish energy companies and provides them with a platform for joint investments and pooling of expertise. The company's energy production is based on a diverse portfolio, including wind, hydro, nuclear and solar power in the Nordic countries.

Suomen Voima started the strategy work from a situation where they had previously carried out a major strategy process, the basic assumptions of which were still valid. The aim was to update the strategy and challenge existing assumptions without rebuilding the whole direction. The previous strategy was still valid, but they wanted to bring in new perspectives and, above all, to strengthen a common understanding of the strategy among the owners.

More Than Group was chosen as a partner for the strategy update because ”you have not identified yourselves as a strategy partner for the energy industry”, laughs the CEO of Suomen Voima. Pekka Saijonmaa. ”We wanted a fresh perspective on strategy work from you, and that's what we got.”

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Suomen Voima Oy

Our role

A strategic partner

Pekka describes the whole thing: ”We knew what we wanted. Your plan to make it happen was a good one, although the process you proposed was a little confusing at first. In hindsight, the overall package was excellent. We got things worded in a way that both the owners and the staff saw and said things in the same way. I particularly liked the fact that Joshua Moorrees and Sointu Kouki were well-versed in our previous strategy, and guided the discussion through questions in a knowledgeable and good way. We got exactly the right outcome for us.”

Director of Legal Affairs at Suomen Voima Jannika Harries thanks Sointua and Joshua for their pleasant and practical cooperation. ”The collaboration brought us new perspectives, and as a strategy process was different from what we had done before. Another good thing was that the process was very consultative - you gave your views and opinions on, for example, the best way forward, while at the same time taking feedback well. The whole process was handled in a very professional way.”

More Than Group's strategy process involved reviewing the existing strategy and gathering views through owner and employee surveys to support the strategy work. The strategy update was based on strategic assumptions about the development of the operating environment. These assumptions helped to steer the discussion and build a strategy that would work in a future that the company considers likely. At the heart of the process were the joint strategy days, where the discussion was systematically guided towards a clear overall picture - not by providing ready-made answers, but by raising them together.

Pekka and Jannika are especially grateful for the final result of the project. ”When we were able to crystallise the essentials in one film in the final strategy session, it honestly became a VAU-fixture. During the process, a clear, crystallised whole emerged,” says Pekka. ”We ended up with a one-page strategy statement, dictated by the owners, so that we are now committed to a common direction.”

”I was particularly impressed by the way in which the many complex discussions that took place during the days were crystallised and articulated into a common outcome,” says Jannika. ”We have now added indicators to the strategy that will force us to make changes in our operations. Overall, the strategy also confirmed our existing policies, which means we can continue on the same business line.”

More Than Group brought to the table a clear vision of what a good strategy requires - but listened, challenged and adapted their actions to the situation. The end result was that Suomen Voima was reaffirmed in its direction, the commitment of its owners and, above all, a strong foundation for future action.

Would you recommend More Than Group as a strategy partner?

”I would definitely recommend it, it's really easy to answer,” Jannika sums up. ”As a process, it was excellent, and works for all kinds of actors.”

”I would recommend. Your income perspective, so to speak, does not look at the context, i.e. it is only applicable to a particular industry. You are moving with really good general knowledge, and at the same time you have a good grasp of the nuances of the energy world. I believe that this approach works for one industry and one industry and one industry. The outcome is open, direct, and comfortable for the participant.” Pekka concludes.

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In addition to the references described above, we have carried out a number of different types of client projects, and we are happy to share the lessons learned with you.