Business with Sweden
The Swedish business climate is known for flat organizational structures and managers who are not afraid to roll up their sleeves. Business in Sweden is constantly evolving, becoming more competitive — but always with people and the environment in mind.
The future of Swedish business is said to lie primarily in knowledge-intensive industries, where Sweden can take advantage of its advanced technological development, sophisticated infrastructure and high general educational level. Information and communication technologies (ICT) and biomedicine are two such knowledge-intensive sectors in which Sweden has been among the global leaders for years.
During the 20th century, what is often described as the "Swedish economic miracle" occurred. In the space of a few decades, a poor agrarian country was transformed into one of the world's most prosperous and sophisticated industrial nations.
The foundation for this rapid growth was northern Sweden's enormous wealth of forests, ore and hydroelectric power, combined with a long series of ingenious Swedish inventions such as the ball bearing, the gas-powered beacon and the adjustable wrench, to name only a few.
Even today, this kind of engineering brilliance remains at the core of the Swedish business sector. Look at ICT inventions like Skype, that enables people to call each other for free over the internet, and the online music service Spotify.
Today, most of the world’s 250 largest companies have realised the importance of corporate social responsibility, CSR. Some pioneering Swedish companies quickly saw the importance of running a business in a responsible and sustainable manner and led the way. Now the concept of CSR has spread around the world.
Some of the world’s most successful innovators are from Sweden. Women and men who change people’s lives, by overcoming challenges and breaking new ground. Before we meet some of them and have a look at their innovations, let’s discuss the question: Why Sweden − a country of less than 10 million inhabitants?
Sweden is the birthplace of many successful innovative companies. According to British Wired Magazine, Sweden has the most digitally connected economy in the world, and its forward-thinking culture fosters innovation. Read about 10 influential Swedish companies.
Extensive environmental protection, active measures to improve work environments, investments in cleantech – these are all examples of how laws and regulations can encourage responsible corporate behavior. But many Swedish companies chose to do more than they are legally required to.