Nokia was the leader in the mobile phone industry and then almost went bankrupt, while the reasons are numerous there are lessons to be learned. In the book Transforming Nokia by Risto Siilasmaa published by McGraw Hill, NY, 2019, Mr. Siilasmaa offers his views. Mr. Siilasmaa was Board Chair for a number of years.
The core of entrepreneurial leadership requires behaving as a paranoid optimist. This means underneath all the fear and confusion around you, you can be an optimist because you are convinced you will find a solution to the problems confronting you. At the same time you are paranoid about what can go wrong.
In practice, paranoid optimism calls upon leaders to explore a full spectrum of scenarios: the best case, the worst case, and the options in between. By imagining the unthinkable, you will not be surprised and can generate strategies that will help you avoid it. The result you can radiate an unwavering certainty of eventual victory.
Practicing paranoid optimism sharpens your foresight, expands your options, and helps you to respond to crisis and cope with change. As the Scouts motto be prepared.
Linking to dividend paying stocks, when you evaluate them given they should have the resources to be prepared for different options, are they?
There are more questions than answers, till the next time- to raising questions.