Doing business with sweden
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Doing Business with SwedenPrepared by:-Manpreet Kaur GrewalSumit MalhotraNancy Sood
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Interesting Facts
• Capital: Stockholm
• Population: 9.5 million (85% live in urban areas)
• Area: 450,000 sq.km = 174 000 sq.mi.
• Official Name: Konungariket Sverige (Kingdom of Sweden)
• Official Language: Swedish
• National Anthem: “Du Gamla, du fria, du fjallhoga nord” (Thou Ancient, Thou Free, Thou Mountain-Crowned North.”
• National Holiday: Flag Day, June 6
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Resources
• Sweden's chief crops are grains, sugar beets, potatoes, meat, and milk, barley, oats, and wheat.
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Resources cont.
• Sweden’s natural resources are timber, iron ore, and hydroelectric power.
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Economy
• Sweden constructed an economy based on free enterprise, public ownership of utilities, exports, social welfare, and high taxes.
• Most important export industries: Mechanical engineering, automotive, information and communication technology, pulp & paper, power generation, pharmaceuticals, iron and steel, transport services and tourism.
• Most important import goods and services: Foodstuffs, raw materials and fuels, chemical products, machinery, electrical equipment, information & communication products and services, road motor vehicles, textile products & apparel, tourism.
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Economy cont.
• Sweden’s major trading partners are the European Union, the United States, and Norway
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Religion and Spiritual Beliefs
• Sweden’s religion consists of 87% Lutheran, Roman Catholic, Orthodox, Baptist, and other.
• Christianity was introduced in 829 but became fully established in the 12th century.
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Religion cont.
• The Wasa Dynasty slowly introduced Lutheran Christianity and in 1604 banned Catholicism.
• Lutheranism was Sweden’s official religion from about 1540 to 2000.
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Learning and Technology
• The Swedish government requires children from 7 to 16 years of age to attend school.
• Elementary and high school education are free for Swedish children.
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Arts and Crafts
• Sweden made it’s greatest contribution to the arts in the field of industrial design with harmonious textiles, furniture, glassware, and ceramics.
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Business Culture in Sweden
• Most Swedish businessmen would be surprised if they were told that their business culture differs greatly from the international norm.
• Management is based on the idea that the individual is willing and able to do a good job.
• Swedish businessesmen try to solve problems in an informal and practical way.
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Travel Facts
• An average June day in Sweden can have 17, 19, or 24 hours of daylight.
• The time difference between New York and Sweden is 6 hours later.
• You do not need a visa to travel to Sweden.
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• Most Swedes have a working knowledge of English.
• Some of the holidays in Sweden include:
– 1 January New Year’s Day
– 6 January Epiphany
– 1 May May Day
– 6 June National Day/ Liberation Day
– 24-25 December Christmas
– 31 December New Year’s Day
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Business Expectations
• The handshake is the standard greeting for men and women.
• Use a formal form of address when greeting or making introductions.
• Punctuality is important in both business and social functions.
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• In general, Swedes do not use many gestures and have quiet natures.
• Acceptable conversation topics include:– Sports– Sightseeing– Travel – Politics
• Inappropriate topics include:– Personal topics– Complaints about how things are run
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Etiquette
• If you are invited to a Swedish home:
– Toasts before a meal.
– Dining Style.
– Giving gifts.
– After dinner.
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