After a summer of economic doom and gloom this was a real energy boost. Here there was no talk of recession and you could feel the up-beat atmosphere wherever you went.  Asking around if business was good the answer was invariably “yes”. And we’re not talking small machines here!

Of course investments surge when oil prices are at an all time high. At such times more inaccessible reserves become economic to exploit: when ever more sophisticated and expensive equipment gets developed. A Menon report, from June 2010 for the Norwegian Ministry of Petroleum and Energy, to chart the international activities of offshore supply companies, found that the Norwegian petroleum related offshore industry alone increased its turnover nearly 25% – from NOK 195 billion in 2007 to NOK 244 billion in 2009. Between 2011 and 2014 Norway is expected to have the largest capital expenditure in the world’s largest offshore markets, followed by USA and Brazil with UKCS (UK Continental Shelf) at number 4. The sentiment is that oil will be around as a prime energy source for a long time before the world can rely on renewable sources.

If you have any worries about your company’s future, then the oil and gas industry could certainly be an interesting option to investigate! Who would have though a few years ago that Stavanger and Aberdeen would be in the same league as Houston!  But don’t worry you needn’t turn up in a hard-hat and boiler suit – high heels and a short skirt will do just as well!

Venue: St James house, 13 Kensington Square, W8 5HD

Please help us raise the temperature at St James House in Kensington at our 10th annual Winter Warming party at Kensington Square! There will be a seasonal buffet and drinks served – enjoyed with fellow members of our network. This year we will also have a Christmas raffle with fabulous prizes and the proceeds going to charity.

Varför är det intressant för företag att investera i Storbritannien?
Jo, för att Norden har alltid varit en viktig marknad för Storbritannien, den fjärde största handelspartnern i världen. Relationerna mellan Sverige och Storbritannien har alltid varit goda och där har alltid funnits en ömsesidig respekt mellan de två länderna – trots de kulturella skillnaderna.

Där finns särskilt vissa likheter som kan vara intressanta att ha i bakhuvudet när man gör affärer i Storbritannien. Vare sig Storbritannien eller Sverige har varit invaderade under de senaste 200 åren och vi har båda varit stormakter vilket sätter en viss prägel på oss som folk.

Engelsmännen är liksom svenskarna lite främlingsfientliga men har man väl tagit sig över tröskeln så är man nog mer välkommen än på många andra ställen i världen. I båda länderna är vi lite högmodiga och tycker att vi kan och klarar av det mesta, vilket medför att om någon kommer in utifrån med något nytt så undrar vi ”Vad är det som de kan och inte vi? Detta måste vi väl ha i Sverige också?”.

Men likheterna till trots finns några viktiga saker att tänka på när man gör affärer i Storbritannien. De behöver inte vara så komplicerade eller svåra att lära sig och förstå. Ha också i minnet att bara för att det är bra för Sverige så behöver det givetvis inte vara bra för resten av världen.

Du talar flytande engelska men förstår du egentligen vad som sägs?
Tack vare att vi svenskar talar flytande engelska känner vi oss väl hemma i Storbritannien. Eller gör vi det? Vad vi glömmer är att engelskan är ett mycket kodat språk och som kan ställa till med stor förtret när vi gör affärer då mycket som sägs inte egentligen betyder något och saknar handling. Och engelsmän och amerikanare har också språkförbistringar.

Engelsman säger sällan ”no” till något. Ordet ”interesting” kan betyda allt från mycket intressant till förfärligt. Kan du förstå kommentarerna har du kommit en bra bit på väg att förstå engelska och inte amerikanska. Tänk på den svenska affärsmannen som kommer tillbaka från säljmöte efter säljmöte med sin engelska motpart och säger att ”Vi är nästan där för de tycker att våra produkter är så intressanta och vi har så trevligt tillsammans!!”.

To read the rest of the article, please click here

The debt problems of the Eurozone states have been well aired. Borrow more than you can afford then default and your credit ratings plummet. Then you find it impossibly expensive to borrow more. Just as in real life. You’re inextricably trapped and there are only three ways out. 1. Go bankrupt (or ask for debt forgiveness) – tricky if you want new loans to start up business again. 2. Ask your kind ‘relatives’ to give you money – not so easy when most of them can scarcely afford their own debt repayments 3. Restructure your economy to generate more income while spending a lot less – really difficult when your family feels it’s not their fault you ran up unaffordable debts – anyway, restructuring takes ages and your creditors can’t wait.

Meanwhile you find out the banks who have been funding your loans have been playing stupid gambling games with your debts, have messed up on their own liquidity and threaten to go bust themselves if you (or your relatives) don’t pay up. In which case you won’t have anyone to turn to, even to fund sensible business projects.

Even the USA has debts that exceed its GDP leaving its President at loggerheads with Republican opponents while trying to resolve the country’s debt crisis to avoid structural bankruptcy! To quote Obama “we’re just kicking the deficit can down the road”.

Politicians are so often afraid of making difficult and unpopular decisions because they have horizons no further than the next election. Imagine what would happen to my sons’ debts, if they were the sorts content just to kick their debt cans down the road?

The four major Nordic countries of Norway, Denmark, Finland and Sweden are among the most prosperous in the world, according to Legatum Institute’s comprehensive  2010 Prosperity Index, published in October 2010.  The index measures both economic wealth and citizens’ happiness, ranks Norway as top in the world! Free markets is the key to Nordic nations’ strong performances according to Legatum Institute.

Another study from the US shows that cultural variables such as history and religion affect the degree to which one country trust another, as the importance of sharing the same religion. Furthermore it shows that this level of trust affects the level of international trade, portfolio investments and foreign direct investments.  The study finally shows that it is the cultural component of trust that drives its relationship with international trade and investments which ultimately leads to higher prosperity.

In Swedish we have a proverb that says ‘ärlighet varar längst’ – honesty always wins!  The proverb seems to run deep in the Nordic societies and when looking at statistics of countries where people have most trust, the Nordic countries are on top of the list for trust.  It is also a trust in the system and society as a whole which drives these factors.  From a business perspective it is crucial to recognise that trust is an essential element for doing business and perceptions of trustworthiness are often driven by cultural stereotypes.  When we at Goodwille identified our cultural values ‘trust’ was the one that I believe everyone felt was the most important!

If religion is playing an important role in trust it is interesting to note that the Nordic countries have over the past centuries been predominantly protestant.  Furthermore we have been an homogenous society up until most recently which means that we have been able to recognise familiar behaviour which in turn has instilled trust.

Trust also plays an important role in new media where trust and transparency is paramount.  Brands represent trust and companies pay huge amount of money to build up a strong brand.  In a more global society where everyone is hoping to get a bigger slice of the cake it is paramount that trust is built up between countries as well as in companies and their employees in order to achieve greater prosperity.  It is obvious that a number of factors are important when building trust, it is equally paramount to ensure that the trust is not impaired because the outcomes of a crisis of trust are usually catastrophic, economic activity is reduced, human capital corroded and wasted, society is polarised, interethnic and inter/racial tension increase.  To rebuild trust in such circumstances is a daunting task.  The loss of trust is contagious and, finally, it infects every institution and profession in the land.  It is the stuff revolutions are mad of!

The business world has always been buffeted by change, but current shifts in everything from communications to consumer expectations appear little short of seismic. Goodwille News talks to three specialists to discover their take on what these changes mean for the future of the business landscape.

To read more please download below file.

Goodwille News summer 2011

Why it matters.

In recent weeks, news reports and on-air discussions have been increasingly filled with the debate about why the boards of major companies still have so few women. And why the percentage of women in senior managerial positions can vary so much internationally. Did you know that Thailand tops the list? There, 45% of senior managerial positions are filled by women. The most common senior company position for a woman is CFO.

According to the Davies report released in February it will take over 70 years at the current rate of change to achieve gender-balanced boardrooms in the UK!

This is alarming when one looks at the growing body of evidence. It is reported that companies with more women on their boards were found to outperform their rivals with a 42% higher return on sales, 66% higher return on invested capital and 53% higher return on total capital! This surely illustrates the positive impact a woman’s contribution can make to a company’s financial bottom line.

Studies clearly indicate that companies with 30% or more women at board level or in senior management produce the best financial results. Women now form 51% of the UK population and 46% of the economically active work force. They are estimated to be responsible for about 70% of household purchasing decisions and to hold almost half of the UK’s wealth! With this background it is quite staggering that only 12.5% of the board members of the FTSE 100 companies are women.

The two key issues the report points up are: the lack of flexibility around work/life balance – particularly around maternity leave and young families; and the general acceptance of a traditional male-based cultural environment, the old boys’ network and the lack of networking opportunities for women. Interestingly enough only 11% of the women interviewed in the report recommended quotas to be introduced.

With this background it is obvious that the UK economy is missing out in a big way.  Personally I have always felt that women should be elected to the board on their merits rather than getting there through enforced quotas. But can we really wait 70 years? NO!  So, maybe quotas may be the only way to propel the necessary changes. Will attitudes and practice change quickly enough otherwise?

Venue: St James house, 13 Kensington Square, W8 5HD

To read more download below file.

Goodwille News Spring 2011 PDF

Transparency is necessary for democracy to minimize government corruption. Along with that goes freedom of speech. The Freedom of Information Act is Britain’s attempt at transparency; the parliamentary expenses scandal highlighted its need. On a personal level it makes life easier to live with colleagues and friends when one has no hidden agendas. Yet I’m sure we all have things we’d rather not publish to the world if only because they may be misconstrued out of context.

So, I have been struggling to get to grips with WikiLeaks. Their assumption is that publishing information supplied by anonymous whistleblowers will make the world a better place; information, much of which, written candidly in confidence, can easily be misunderstood. Yet is the WikiLeaks process democratic in itself? Isn’t Julian Assange acting as judge and jury? Given that only1% of the files leaked have been published isn’t he acting as our censor? He says the names of anyone in danger of reprisal have been redacted. Yet has Wikileaks got enough knowledge to ensure innocent people don’t get hurt? What has been achieved other than newspaper sales? Some diplomatic red faces? Yet has it so far suppressed injustice?  I doubt it.

Despite the efforts of the world’s most powerful governments to control it, transparency on the Internet is here to stay. It will be more difficult to hide corruption, injustice and blatant disregard for human rights. Though I cannot help but wonder how government communications will be amended by the knowledge that WikiLeaks is out there. Back to hadwritten notes, locked diplomatic bags and the old shredder?

Though we should be sceptical about the commercial interests of the likes of Google and FaceBook and of ‘eavsdropping’ by government Internet surveillance, on a personal level it is still relatively easy to control what we allow to be published on the Internet about ourselves. Mark my words, be wary and use those controls.