Hannu Katajamäki - Fresh Insights into Market Economics - Finance for Executives

TEXT: SATU ALAVALKAMA, PHOTO: JUNNU LUSA

“I am a proponent of continuous learning. Learning things that serve a particular purpose through discussions with excellent lecturers and other management professionals is particularly rewarding,” says Hannu Katajamäki, Executive Vice President for Services at Vaisala Group.

Hannu Katajamäki has worked for Vaisala since the mid-1990s. Vaisala is the global leader in environmental and industrial measuring solutions. It operations span more than 140 countries. Meteorological authorities and private companies alike use Vaisala’s observation and measuring instruments to help predict the weather. The company also has customers in the pharmaceutical industry, biotechnology, medical devices, and building services sectors.

As its business grows, Vaisala is eager to open up new markets for services to segments where it also supplies instruments. Entrance into a new market means that company personnel must evaluate currency rates, pricing, the laws of demand and supply, and other cyclical phenomena that will affect the firm’s operations. Katajamäki says that the new three-day program, Economics for Executives, allowed him to brush-up on his own understanding of how economic analysis impacts business.

Tailor-made alternatives

“I have an MBA from the Helsinki University of Technology, so the choice of a single module in the Finance for Executives program was a good option for me. I like the way Aalto University Executive Education allows students to combine courses and build more comprehensive study packages, or to update their views within a more restricted field. Executives are often short on time, so efficient time management is a priority,” stresses Katajamäki.

Usually Katajamäki simply buys books and studies independently. He prefers working in a group, however, as it gives him the opportunity to exchange ideas with lecturers and fellow participants.

“Our Economics for Executives group was a good size, so participants had the chance to actively engage in discussions. The discussions felt relevant considering my own role and topics of interest. The group’s chemistry was interesting because the participants came from a variety of sectors, and both public administration and business executives were involved,” says Katajamäki.

Yesterday’s news is old news

Studies show that Finnish executives are not well informed of the causes and consequences that affect their exports, the price of financing and domestic demand. The Economics for Executives program boosts the participants’ own philosophical thinking, as well as their ability to interpret the significance of various phenomena. Professors Vesa Puttonen, Hannele Wallenius and Seppo Ikäheimo lectured on the first program in the autumn of 2011. The topics included the economy and media literacy, financial markets of the present and the future, and good governance.

“I already knew Professor Puttonen from the MBA program. Now he had fresh insights into the causes and consequences of the uncertain economic situation in Europe. I like the way he frames issues, and the home study materials were excellent. He pointed out that at the speed the markets are now changing, he has to dig up new articles every day, as yesterday’s news is already old news,” notes Katajamäki.

Katajamäki believes the Economics for Executives module has given him practical learning that he can apply in understanding economics issues on a broader scale. The three-day module allowed him to brush up his knowledge. Now he finds it easier to analyze global fluctuations in market demand and supply.

“I might continue with further studies. At the very least, I will always return to these themes in my own reading,” he concludes.