Finnish-Swedish business climate 2016

Finnish-Swedish business climate 2016

FINNISH-SWEDISH BUSINESS CLIMATE 2016 A L E K S A N D RA A Z A I Z E , L E R OY C H R I S T I A N , J O S E P H D E L C R O G N A L E , A N H , A RT M A L O K U , M A R I A M U B A S H A R , M Y M E O , E L L A N A U M A N E N , E L E O N O R A S C H I TA R O C Z Y , T I E N V U O N G Agenda 1. Introduction Objective of Survey Investigative Questions Research Methods 2. Results Respondent's Profiles Individual Opinions and Attitudes Doing Business 3. Conclusion 5/9/16 2 Introduction 5/9/16 3 Objective and Target Group of Survey Research Objectives: The objective was to study the current and overall business climate between Finland and Sweden. Main Survey Target Group: This survey was targeted for small and medium-sized companies in Finland and Sweden.

5/9/16 4 Investigative Questions What are the general perspectives of Finnish and Swedish personnel on business relations between the two countries? What are the similarities and difference in culture, communication style, and individual attitudes? What is the typical business environment like in Swedish and Finnish companies? 5/9/16 5 Research Method This survey was for the most part based on the Norwegian-Finnish Business Climate Survey, which was prepared for the NorwegianFinnish Trade Association (NOFI), 2015. Quantitative research approach o Questionnaire method was used based on closed questions with a mix of multiple choice and answering scales. The online survey was sent to the members of Finnish-Swedish Chamber of Commerce. The data was collected during: 01.04.2016 - 30.04.2016 Three weekly reminders were sent during the data collection phase. Total of 189 responses were received 5/9/16 6 Results

5/9/16 7 Respondent's Profiles 5/9/16 8 Age, Gender, and Mother Tongue 40% 38.3% 35% 30% Female; 32.62% Other 2.1% 28.2% 25% 20% Male; 67.38% 17.0% 15% 0% Gender 5/9/16

Finnish 50% 11.7% 10% 5% Swedish 47.9% 4.8% 20-29 30-39 40-49 Age 50-59 60 or more Mother tongue 9 Personal Representation What perspective do you consider yourself as representing? Swedish 34.24% Finnish 65.76%

5/9/16 10 Function in Organization CEO or executive position 53.97% Middle management 16.40% Other 14.29% Solo entrepreneur Board member Student/ Intern 0% 5/9/16 10.05% 3.70% 1.59% 10% 20% 30%

40% 50% 60% 11 Respondents by Region Sweden Finland n/a 1.4% Oulu Region 2.6% 3.4% West Finland land Islands 1.7% 5/9/16 Norrland East Finland 17.2% 93.2% 5.4% 75%

Svealand Gtaland South Finland 12 Companies Backgrounds Other 16.40% Services 7.45% 15.87% Consulting 15.87% Sales and Marketing 3.72% 8.51% 5.32% 14.81% Information Technology 10.05%

Manufacturing 8.99% Banking and Finance 8.99% < 10,000 10,000 -17.55% 99,999 100,000 - 499,999 Development and innovation 2.12% > 500,000 Building and Construction 2.12% don't know / not aware Public Sector 1.59% Energy / Oil &gas 1.59% Real Estate Marine Sector

0% don't want to disclose 1.06% 0.53% 2% 57.45% 4% 6% 8% Business Sectors 5/9/16 10% 12% 14% 16% 18% Turnover 13 Individual Opinions 5/9/16 14

Networking Conferences Seminars Business dinners Trade fairs Business retreats Finnish Swedish Dinners outside actual working time Coffee breaks Formal meetings Sport activites Cocktails The most effective ways to network according to Swedish and Finnish views. Sauna Strongly disagree 5/9/16 Strongly agree 15 Communication Styles How Finnish and Swedish perceive their business partners? Professional

1.72 Personal 2.22 2.77 2.75 Risk-taking 2.49 Open-minded Task oriented Straightforward Conservative 2.08 1.75 Relationship-oriented 2.74 Shy 1.95 Indirect Finnish perspective on Swedish colleagues 5/9/16 Certainty

2.31 3.33 Direct 2.57 Swedish perspective on Finnish colleagues 16 Effects Of Language On Day-To-Day Activities How do gaps in language competencies cause problems in the work environment? 2.70 Frustration at work 3.25 2.66 Cause difficulties to work efficiently in teams 3.20 2.75 Negatively affects work promotion 3.13 2.46 Negatively affects work performance 2.97 2.45 Negatively affects relationships beween colleagues

2.90 Strongly disagree Perceived by Finnish 5/9/16 Strongly agree Perceived by Swedish 17 Importance of Opposite Language Finnish perception on the importance of Swedish language Swedish proficiency plays a significant role for my career/business progression Knowledge in Swedish increases chance to get employed and to get a new business opportunity Swedish is an important language for the business life in Finland Strongly disagree Finnish 5/9/16 4.14 Swedish perception on the importance of Finnish language it is important to know Finnish, to do business in Finland 4.38 English is preffered in doing business with Finnish 3.87 Doing business with Finnish who speak Swedish is preffered

Strongly agree Strongly disagree 2.72 3.07 2.61 Strongly agree Swedish 18 Shared Values What are the most important shared values in the company? High working moral 51.24% Honesty 47.11% Productivity 46.28% Transparency 42.98% Flexibility 33.88%

Fun working environment 23.14% Others Sense of humour 0% Transparency 47.62% 7.44% 42.86% Open communication in the hierarchy 30.16% Equality 30.16% Others 20% 44.44% 26.98% Sense of humour 30%

40% Finnish perspective on important shared values 5/9/16 47.62% Fun working environment 13.22% 10% Productivity High working moral 36.36% Equality 49.21% Flexibility 42.15% Open communication in hierarchy Honesty 50% 60% 0%

20.63% 9.52% 10% 20% 30% 40% 50% Swedish perspective on important shared values 19 60% Perceived Commonalities Between Each Other Work ethic 2.38 2.96 3.05 2.94 Business etiquette 2.52 Productivity Sense of humor 2.86 2.27 2.73

3.00 Culture Non-verbal communication Decision-making Strongly disagree 5/9/16 Finnish Swedish 2.66 2.34 2.43 What Finnish and Swedish perceive they have in common regarding business. 2.93 2.20 Strongly agree 20 Doing Business 5/9/16 21 2015

Total Foreign Trade Volumes FINNISH TRADE WITH SWEDEN Imports From Finland into Sweden o 5/9/16 ranked 6th at 5%. SWEDISH TRADE WITH FINLAND Imports from Sweden into Finland o ranked 2nd at 11.4%. Exports from Sweden to Finland o ranked 4th at 6.95%. Exports from Finland to Sweden o ranked 2nd at 10.3%. http ://globaledge.msu.edu/countrie s/sweden/tradestats http://www.stat.fi/tup/suoluk/suol uk_kotimaankauppa_en.html#for eigntrade 22

Formal/Informal Language Usage Formal meetings Informal verbal communication with colleagues Finnish Finnish Swedish Swedish English English Other Other -10% 0% 10% 20% Percentage (F) 5/9/16 30% 40%

Percentage (S) 50% 60% 0% 21.6% 46.7% 56.9% 33.0% 14.7% 15.9% 6.9% 4.4% 10% 20% Percentage (F) 30% 40% 50% 60% Percentage (S) 23 Currency

Finnish Swedish International with operations in Finland and/or Sweden Others 0% Euro 5/9/16 10% Swedish Krona 20% 30% Others 40% 50% 60% 70% 80% 90% 100% Not aware

24 Desired Leadership Traits Honesty 52% 43% 16% Delegation 14% 50% 52% Good communicator 24% Confidence 46% 26% Commitment 25% Positive attitude 11%

8% Selflessness (putting employees needs first) 0% 2% Intuition 15% Balance between discipline and focus Finnish Swedish 6% 7% 6% Positive approach 11% 16% Leading by example 32% 2% Role model 38% 6% Inspirational 0%

0% Encouraging Other 0% 5/9/16 29% 10% 2% 2% 10% 20% 30% 40% 50% 60% 25 Perceived Trade Barriers What discourages business cooperation? National protectio... 2.76 2.15 2.44 2.47

Market attractive... Tar 2.31 1.88 2.30 Different curr... T 2.25 Legislative lang... 2.22 Envirnmental regualt... 2.21 2.09 Differences in legisla... 2.13 2.21 Logis... Strongly disagree 5/9/16 2.00

2.57 2.13 2.41 2.30 Strongly agree 26 Witnessed Discrimination Gender discrimination 35.71% Age discrimination 21.43% Gender discrimination 31.25% Age discrimination 25.00% Race discrimination 14.29% Other type of discrimination 12.50%

Other type of discrimination 14.29% Seniority discrimination 12.50% 12.50% Nationality discrimination 7.14% Nationality discrimination Seniority discrimination 7.14% Language discrimination Language discrimination 0.00% 0% Race discrimination 0.00% 10% 20% 30% 40% Types of discrimination witnessed by Finnish

5/9/16 6.25% 0% 10% 20% 30% 40% Types of discrimination witnessed by Swedish 27 Conclusion 5/9/16 28 Conclusions Similarities in culture makes networking easier, with both parties sharing similar ideals in terms of best ways to network. Language is not considered a barrier in business relations, but can generally be viewed as an inconvenience when communicating to foreign counterpart. Finnish respondents view Swedish language as a vital element in business life, while Swedish respondents took an opposite stance about the Finnish language. Differences exist in leadership and communication styles, but both parties seem to have similar thoughts on what makes a good leader. Gender and age discrimination are the most prevelant instances of witnessed discrimination in businesses of both countries. 5/9/16 29

Thank you for your attention! 5/9/16 30

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