Transcript Norway: International Retailing Final Project

Norway:
International
Retailing Final Project
By: Kaitlin Daniels
Geography
• Northern Europe
• Western Scandinavian Peninsula
• Borders Finland, Sweden, Russia
• Slightly larger than New Mexico
• 70% uninhabitable
• Mountains
• Glaciers
• Rivers
• 148,718 square miles
Climate
• Temperate
• Varies from coastal to inland areas
• Coastal: mild winters, cool summers
• Inland: colder winters, warmer summers
• Rockslides and avalanches
History
• Viking period 800-1100 AD
• Harald Fairhair (Harfagre)
• Christianity in 11th century
• 1300s Formal union with Denmark and Sweden
• Sweden gains Norway
• 1905 Sweden gains independence
Government
• Constitutional Monarchy
• King: Harald V of Norway
• Prime Minister: Erna Solberg
• Unicameral parliament
• “The Storting” or “The Great Council”
People/Culture
• Population: 5.084 million
• Life expectancy: 81.45 years
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#15 highest in the world
• Language: Norwegian, Bokmal, Nynorsk
• Religion: Christian
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Evangelical Lutheran
• Values:
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Women in business
“Jante Law”
Egalitarianism
Meeting and Greeting
• Folklore
Folklore cont.
Business etiquette
• Relatively informal
• Prefer to do business with people they trust
• Do not require face-to-face contact in order to conduct
business
• Straightforward and to the point (no small talk)
• Appointments are essential
• Punctuality is imperative
• Popular vacation times July and August, Two weeks
before and after Christmas, Week before and after Easter
Global Position
• GDP: 512.6 billion US dollars
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Considered one of the richest countries in the world measured by GDP
per capita
Huffington Post ranked Norway the 2nd most expensive country to live in
• Currency: Norwegian krone
• Natural Resources: petroleum, hydropower, fish, minerals
• Trade Agreements
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European Economic Area (EEA)
European Free Trade Agreement (EFTA)
World Trade Organization (WTO)
• EU’s 5th most important import partner for trade in goods and 7th
export market for the EU
Exports
• Petroleum
• Nearly half of exports
• 30% of state revenue
• Fresh fish
• Raw aluminum
• Top 5 export destinations: United Kingdom, Germany,
Netherlands, Sweden, France
Imports
• Cars
• Passenger and Cargo Ships
• Nickel Mattes
• Computers
• Top 5 import destinations: Sweden, Germany, China,
Denmark, United Kingdom
Top Shopping
Centers
• Sandvika Storsenter Sandvika (195 stores)
• Amfi Moa Alesund (185 stores)
• Oslo City Byporten Oslo (175 stores)
• One of Norway’s largest book stores
• Books, movies, music, cards, souvenirs, games, etc.
• 16 stores throughout Norway
• Headquarters Oslo
• American store comparison: Barnes and Noble
Tanum: $55
Barnes and Noble: $38
• Men’s clothing store
• Fashionable and trendy
• Carry everything from suit jackets to nightwear
• Headquarters Oslo
• Stores in Sweden, Finland, Germany, Iceland,
Denmark, Latvia, and Austria
• Over 400 stores
2010 Collaboration with The Rolling Stones
old songs
Artwork
American store comparison: TOPMAN
Dressman: $54
TOPMAN: $45
• One of Norway’s largest convenience stores
• Food, drink, magazines, newspapers
• 370 stores throughout Norway
• 245 stores in Latvia and 35 stores in Lithuania
• Headquarters Trondheim
• American store comparison: 7-Eleven
Success in America?
TanumNO!
DressmanYES!
NarvesenNO!
USA Vs. Norway
• Sustainability
• Norway Placed in the “Top 10 Most Sustainable Countries in
the World” by Carbonpig.com
• Donated $1.6 Billion to global rainforest conservation
• Largest foreign donor to tropical rainforests
• Implimented programs
• US Dollar Vs. Norwegian Krone
• 1 Norwegian Krone= $ 0.13
USA vs. norway cont.
• Norway- US News and World Report “World’s Most
Resilient Country”
• 2015 Global Resilience Index (123 Countries)
• Norway ranked #1 and least susceptible to supply chain
chaos
• United States Region 3 (South Dakota, Kentucky,
Colorado, etc.) ranked #10
American retailer in
norway
Successful? Yes!
• 2014
• 1 location- Oslo, Norway
• High demand for a Starbucks to come to Norway
• Facebook page with 50,000+ people
• Competition: Stockfleths
• Mixed Reviews
• Same products as in the United States
Starbucks- oslo
Resources
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"Average Weather in Oslo, Norway." Weather and Climate: Oslo, Norway. World Weather & Climate Information, 2015. Web. 26 Apr. 2015.
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Dictionary of Rhymes. 2007. "Norway." Encyclopedia.com. HighBeam Research, 01 Jan. 2007. Web. 27 Apr. 2015.
"Geography of Norway." Infoplease. N.p., n.d. Web. 27 Apr. 2015.
Jaedicke, Christian. "Avalanches in Close-up." NGI. Norwegian Geotechnical Institute, n.d. Web. 26 Apr. 2015.
Lambert, Tim. "A Short History of Norway." A Brief History of Norway. Localhistories.org, 2013. Web. 26 Apr. 2015.
"Norway." Encyclopedia of the Nations. Advameg, Inc., 2003. Web. 26 Apr. 2015.
"Norway - Politics, Government, and Taxation." Encyclopedia of the Nations. Advameg, Inc., n.d. Web. 26 Apr. 2015.
"Norway Puts $1.6B into Rainforest Conservation." Mongabay. N.p., 18 Aug. 2014. Web. 27 Apr. 2015.
"Norwegian Culture and Etiquette." Kwintessential.co.uh. N.p., n.d. Web. 27 Apr. 2015.
"Norway." Worldmark Encyclopedia of Nations. 2007, "Norway." Cities of the World. 2002, Melanie Moore, Valentin Hadjiyski, "Norwegians."
Junior Worldmark Encyclopedia of World Cultures. 1999, "Norway." The Columbia Encyclopedia, 6th Ed.. 2014, Karen Larson, "Norway."
Junior Worldmark Encyclopedia of Physical Geography. 2003, Sverre Varvin, "Norway." World Encyclopedia. 2005, D. CAULKINS,
"Stoltenberg, Jens." The Columbia Encyclopedia, 6th Ed.. 2014, "Norway." Junior Worldmark Encyclopedia of World Cultures. 1999, "Norway."
International Encyclopedia of Marriage;Family. 2003, and "Norway." Oxford
"Seasons, Weather and Climate in Norway." Norway Powered by Nature. Visitnorway, 2014. Web. 26 Apr. 2015.
"The Big Mac Index." The Economist. The Economist Newspaper, 22 Jan. 2015. Web. 27 Apr. 2015.
"XE Currency Charts (NOK/USD)." XE.com. The World's Trusted Currency Authority, n.d. Web. 27 Apr. 2015.