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HOW TO APPROACH NORWEGIAN COMPANIES Magnus Stendal MARCH 2013.

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Presentation on theme: "HOW TO APPROACH NORWEGIAN COMPANIES Magnus Stendal MARCH 2013."— Presentation transcript:

1 HOW TO APPROACH NORWEGIAN COMPANIES Magnus Stendal MARCH 2013

2 NORWEGIANS

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4 Visible Less Visible Customs Region Beliefs Assumptions Family Values Corporate Culture History Food Language Dress Behavior

5 “Culture is the collective programming of the mind distinguishing the members of one group or category of people from others”

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7 CULTURAL DIMENSIONS  Hofstede  Investigation of people, 40 countries,  5 cultural dimensions, ranged countries from in each dimension Power distance Individualism Masculinity Uncertainty avoidance Time orientation

8 Power distance «the extent to which the less powerful members of institutions and organisations within a country expect and accept that power is distributed unequally». HighLow Top-down approachPeople are the same. Flat structure Positions and network is important Qualifications are important Follow authorityIndipendent, self going Decisions are made on the top Democratic decisions Boss is rightOK to yell at boss

9 Individualism HiLow American dream – make it on your own The group is important Pesonal successPull together Decisions: What is best for you Decisions: What is best for the group Privat life. Core familyGeneration family. The group. «the degree of interdependence a society maintains among its members».

10 Masculinity HighLow CompetitionEquality ConfidenceCare AmbitiousHonesty MaterialisticMan/woman equal Man/woman different «To what degree people have masculine or feminine values».

11 Uncertainty avoidance HighLow Rules and proceduresCommon sense Minimize riskRisk is OK Structure&agreementsCommon understanding Plan for tomorrowLive for today One step at a timeGet it done! Move on SecurityIt’s gonna be OK «expresses the degree to which the members of a society feel uncomfortable with uncertainty and ambiguity»

12 NORWEGIAN BUSINESS – SOME CONCLUSIONS...quality&qualifications beats bragging&good relations...stick to the subject – don’t talk around subjects...decisions are made democratic, not necessarily by the boss...agreements/contracts are important...important to keep promises. Do not “over-sell”...”new” is not always seen as better. Proven track record....be honest about your faults/weaknesses (if asked). And present how you will overcome them... Invite to teamwork...Norwegians are not tactical hard/ball negotiators

13 HOW TO CONVINCE A NORWEGIAN

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15 HOW TO APPOACH? (SALES) Qualify prospects Obtain contact Find «sponsor» Agree on process Complete process Negotiate Sign agreement

16 Qualify prospects -Must have a need for your product/service -Must be reachable -Must be able to pay -Make a list: -Location -Name -Short description -Key players/pain chain -Contact person/contact details -Economic info -Internet, media, network etc

17 Obtain contact -Make a strategy -Try to get introduced (7 handshakes theory) - , telephone, exebitions, seminars etc -Tools: -«Elevator pitch» - Value proposition - Business presentation - Reference story

18 BUSINESS PRESENTATION 1.Company name, your name, position, contact info 2.Problem/need your company solve 3.Solution. Explain how you solve that need 4.Prove that the «dog will eat the food». Key selling points, reference story etc 5.Business model. How you create, deliver and get paid for your solution. 6.More on your business: 1.History 2.Team 3.Financial situation 4.Strategic partners 5.Etc

19 Find «sponsor» -Sponsor: Someone who supports/is positive to you, your business, products/services. This is your little helper along the way. - Tip: Look to the pain chain

20 Complete process Agree on process -Step by step plan on what must be done in order to reach an agreement. -Ex: -Successful pilot delivery of product -Prove that you can produce 1000 units per month -Price must be under 2 EUR per month -Process must include decision makers -Evalutation plan with milestones -Get this plan in written!

21 Negotiate Sign agreement -Set your targets and limits. -Hard ball tactics are for Hollywood -Never promise what you cannot deliver -Don’t be opportunistic: Starting out high, will get you nowhere -Professional agreements

22 AGENTS/DISTRIBUTORS -Most foreign companies use agents/distributors in Norway -Agent: 3-15%, Distributor: 15-30% of turn over -Be careful with exclusiveness -Aks for references -Agree upon trial period and evaluation plan of the cooperation

23 QUESTIONS?


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