Norway Globalization

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INTRODUCTION

Globalization has impacted our approach to business communication and strategies significantly. Knowledge of global cultural dynamics and perceptions of cultural values can offer a sustainable competitive advantage to our business.

We have examined the prospect of doing business in Norway, so that we could expand the company into the European market. We have put together a report detailing all the necessary information about doing business in the country.

Norway at a glance

[pic 2]Geography, climate and population

Norway is found on the western part of the Scandinavian Peninsula. The country is long and narrow, and shares its eastern border with Sweden, Finland and Russia. The country is the 7th largest in Europe with an area of 323,802 square kilometres (Embassy of the United States, 2014). Figure 1 shows the exact location of Norway. The Norwegian landscape is rugged and mountainous, though it is also characterised by high plateaus and wide valleys.

Generally speaking, Norway and Canada have relatively similar climates. The coastal districts of Norway have a temperate marine climate with mild winters and relative cool summers. The interior and the Oslo area, has colder winters and warm summers.[pic 3]

Norway is relatively sparsely populated, with five million inhabitants spread over approximately 324,000 square kilometres. Most of the population lives in the southern parts of the country. The population of Oslo, Norway’s capital, is just over 600,000 (Centre for Intercultural Learning, 2009). During our visit to Norway, we shall stay in Oslo because most of the business happens in the capital. The official spoken language in Norway is Norwegian.

Political system and European cooperation

Norway is a constitutional monarchy with a parliamentary democratic system. The Norwegian government is a right-wing minority coalition led by the leader of the Conservative Party, Erna Solberg. Norway is not a member of the European Union (EU). As a member of the European Economic Area (EEA), Norway has signed a trade agreement with the EU which allows Norway to participate in the European market on similar terms as those that apply for the EU member states (Embassy of the United States, 2014).

Economy and currency

Traditionally a country dominated by agriculture, Norway has transformed into a modern diversified industrial country. Norway is rich in natural resources such as oil, natural gas, hydropower and fish. In recent decades oil has contributed to making Norway one of the richest countries in the world. Norway has a small and open economy, which is largely dependent on foreign trade. Foreign trade (export and import combined) constitutes more than half of Norway's GDP, making it one of the world's most open economies (Embassy of the United States, 2014). Norway uses the Norwegian Krone. Current exchange rate is 1CDN$=6.69 NOK