Businesses in Sweden are known for having a flat organizational structure. The hierarchy is not as prominent as in many other countries.
The business environment in Sweden has managed to transcend into a more competitive setting with constant progress, while at the same time continuing to focus on the environment and the people involved.
Sweden has taken advantage of its advanced technological development and high general educational level by putting their main focus on industries where knowledge and education is crucial and absolutely necessary. Information and Communication Technologies (ICT) and Biomedicine are a few to be mentioned. Within these sectors Sweden has been part of the global leaders for several years.
Sweden’s biggest industries include the forestry sector, automotive, engineering and the pharmaceutical industry, just to mention a few. In 2012, Sweden exceeded the exports per capita in the pharmaceutical sector of both China and the United States combined.
Sweden, due to the size of its population, is dependent on global trade and the outside world. Sweden has a history of being a free-trade nation where politics and law open up both foreign investments and international influences.
According to the British Wired Magazine, Sweden has the most digitally connected economy in the world.
When people think of Sweden they often think of ABBA, IKEA and meatballs but did you know that for example the cardiac pacemaker implanted in more than 3.5 million people is a Swedish innovation? So is the three-point auto seatbelt estimated to save a life every six minutes.
These innovations have made big changes in the world over the past decades.
Newer Swedish innovations such as Skype and Spotify have changed the way people interact with each other and the way music spread all over the world in a way that has never been seen before.
These two innovations will most definitely continue to play an important role also in the future.