|
|
| Home > City Guide - Oslo - Business | ||
|
||
|
Business Business Profile Norway’s main industry is oil and gas, which accounts for some 22% of the GDP and makes the country the world’s third largest oil exporter and one of the five biggest gas producers. Fish is the next major export with lots of untapped coastal potential and a rapidly expanding aquaculture industry. Agriculture, although heavily subsidised, accounts for only 2% of the GDP. Tine, a dairy co-operative, and Felleskjøpet, a similarly organised arable produce distributor, market much of the nation’s agricultural production. The Norwegian merchant fleet is the third largest in the world and supports shipbuilding and ancillary industries, including brokering, insurance and offshore facilities. Business are mostly located in the central area, although there are clusters scattered all over the city, particularly westwards along the port and seafront. There are few companies that would be regarded as truly large by international standards and only about 5% have 100 employees or more. The state is closely involved in business and owns in whole or part major companies such as Kreditkassen Bank, Telenor, Statoil and Norsk Hydro. Telenor is the telecommunications giant that was involved in the specification of the GSM standard for mobile phones and, as a result, the first GSM test system was built in Oslo, in 1987. The success in the domestic mobile phone market is evident, with Norway having one of the world’s highest percentage ownership of mobile phones. Nevertheless, the Norwegian government encourages an open economy, welcoming private enterprise and foreign investment. There are 1000 companies under foreign ownership, in the Oslo region, such as the multinational pharmaceutical company, Alpharma Inc, which has its Norwegian headquarters in the capital. One of the main players in the city is Siemens, the German electro-technical company, which supplies equipment for production, transmission, distribution and consumption of electricity, as well as being heavily involved in telecommunications, oil and gas. The economy is strong, with GDP annually increasing by over 3%. As befits the country that developed the original prototype of the mobile phone, there is a superb technological infrastructure with some 80% of employees having access to a computer – a significantly higher figure than elsewhere in Europe and even the USA. Internet access is almost universal in homes as well as in offices. Oslo, with a population of a little under 500,000, about 11% of the total population of Norway, has an unemployment rate of 3.7%, slightly higher than the national average of 3.4%. However, within the Old Town of Oslo, an inner city area with a population of about 22,000 people, the rate of unemployment is almost twice the Oslo average and education levels are exceptionally low, by Norwegian standards. This is a district with high levels of non-Norwegian ethnic residents – Oslo is increasingly experiencing social problems long associated with larger European capitals. Business Etiquette Business visitors should dress conservatively in a smart business suit. It is customary to shake hands with everyone present, on arrival and departure. Punctuality is important. Appointments should be made well in advance and adhered to. If running late, it is important to telephone and explain why. Business cards should be exchanged after the preliminary introductions, after which it is straight down to business. Norwegians are direct and ready to negotiate, with the minimum of small talk. Trust is important and, in negotiation, Norwegians are less likely to indulge in tactical dealing and will be more interested in the facts of the product than in personality or social skills. Visitors should make a fair pitch with room for a little adjustment but not produce an initial offer that could subsequently be seen as a negotiating tactic, as this may be perceived as dishonest. Similarly, expensive gifts should be avoided, as they may be perceived as a bribe. Small items bearing the company logo would be suitable and bringing in the duty-free alcohol allowance would be well appreciated. In a country where the price of alcohol is prohibitive, this action could earn friendship for life. Comments about the high cost of living and cold weather in Norway are often perceived as criticism and Norwegians rarely react positively to humour at the expense of themselves, their country, its system or anyone they perceive to be at any sort of disadvantage. Political correctness is considered desirable. However, they are friendly and informal in personal terms – first names are generally used from the outset. Business hours are normally 0800 to 1600, with employees leaving their offices promptly, to return home for middag (dinner), eaten at around 1700 or 1800. However, an invitation to either dine out or eat at the home of a business colleague will normally be scheduled slightly later. Luncheon is not a Norwegian custom – they take a short break for a snack at around 1100-1130. |
||
