Business in Finland

Business in Finland

Introduction

Business activities are what determines if the economy of a country will be stable or not. A country benefits from the taxes that they receive from the business activities thus stabilizing their economy and improving the infrastructure of the country. The aim of this paper is to analyze business activities in Finland and how they have benefited the country. This paper will focus on the business structure in Finland, the ethical and cultural behaviors of business persons and organizations in Finland, how women are considered in the business fields, the economic status of Finland, diversity and the revolution of businesses in Finland for the past 25 years.

Economic

For the recent years, the economy of the country has been somewhat stagnant. The growth has been due to domestic demands for products and services as the exports have not done so well. Thus, when considering other countries, Finland’s Economy is lagging behind.

Measures have been put to ensure the economy will grow and the GDP to rise. Moreover, firms will focus on the interior market to increase the profit margins they have as the government provides an environment that will be fitting enough for the business activities to be effectively conducted. Unemployment rates have been reducing since 2016, The employment situation is expected to increase in the coming years, thus maximizing the labor intensive jobs in reducing the unemployment rates (Sinha Neeta and Neelam 150).

Organizational Behavior and Standards

Business is considered as an activity that will generate income by people, thus professional standards of dressing are expected. The men are expected to dress in conservative business suits which are preferred to be in dark color including a tie. For the ladies, they have to either dress in trouser suits for women, conservative business suits or dresses portray some degree of etiquette.

Business activities are formal in Finland, and thus interaction within the organization is primarily based on the industrial activities. The buildup of relationships and friendship is not tolerated in the offices; thus it only happens outside the offices (Cheikh and Nidhaleddine 16). Most communication concerning the firm is done through the email to reduce time wastage in face-to-face meetings.

Opinions of the employees are given a lot of consideration as the employers believe that the firm’s success depends on the input from the working force. In addition, the employees directly tell their colleagues of their mistakes within the offices and try to help each other in finding a solution for the same.

Gender equality in the Business field

Both the men and the women have played an integral role in the business industry of Finland. Although men have been known to be more productive than the ladies, in Finland, both gender

is given an equal opportunity with the men to compete for the jobs depending on their skills and competencies.

In Finland, the senior positions in Firms are not dominated by the men as in many other countries. Here, the women are given the same consideration as the men. According to (Ludlum and Marty 200), the family duties of the women are released by the availability of an excellent state-funded child nursery thus ensuring the ladies get enough time to work as much as the men do. Hence, both the women and the men compete for the higher ranking jobs and are awarded depending on their professionalism and competencies in the related job fields.

Diversity

Due to the rising retirement age, and increased immigration in Finland, diversity has become an important factor to be considered in the working life in Finland. The increased immigration has led to a wide range of different cultures, religious and ethnic groups. Thus, the Human Resource managers have adopted the diversity when selecting and dealing with the working force.

According to (Ludlum and Marty 220), diversity has been successfully integrated by many organizations and thus there is no limitation to either the age, gender, race or financial well-being of people who wish to undertake business activities in Finland. Moreover, the Human Resource Managers do not consider the ethnic or religious backgrounds when selecting the employees who are needed by a company provided that the applying parties have the skills required by the position applied for.

Bribery and Corruption

According to Sinha et al. (152), Finland has been ranked among the countries in which Corruption is minimum. The country is regarded to be corruption-free zone since the country is small compared to other countries, and they have a system that promotes welfare and education for people thus advocating for honesty and ethic behaviors of the citizens especially those in the business fields.

Related researches have shown that few people have been convicted in Finland for bribery than any other Country. This is because, as much as people may give gifts and recommendations to others, the people view the ideology as a form of appreciation and thus corruption and bribery are done away with as explained by (Cheikh and Nidhaleddine 17). Moreover Sinha et al. (155) argue that a number of companies have not been successful in winning the public tender for the past three years due to lack of corruption, but the same has helped to develop a competitive environment that is based on the quality of produce, marketing for the products and customer relations to increase sales rather than corruption and bribery.

Industrial revolution

Business activities have gradually increased for the past 25 years. This has been so due to the increased immigrations that have resulted in an increase in the population of people in the country, thus providing a wide market for the most produce of firms in Finland.

Due to reduced corruption and bribery in the country, firms have had a competitive environment and thus the business activities have had to raise their standards and quality of their products to focus on remaining competitive within the market as they provide products and services for the market (Sinha et al. 157).

Conclusion

Finland, being an economically stable country provides a good opportunity for persons to undertake their business activities in the country. Through the reduced corruption and bribery rates, ethical standards are considered and thus the quality management, customer relations and healthy competition among firms are what determines the success of the business activities. Moreover, diversity has been embraced in the country and thus foreigners can undertake their business activities without discrimination. Also, persons of all ages, with different skills and of both genders provide the labor market and thus business activities can obtain labor easily. In addition, due to reduced unemployment, the available labor market thus contains people who are professional and efficient in working due to the high competition for jobs, thus the employees obtained from this group will suffice to benefit the business and its operations (Schermerhorn and John 100).

Works Cited

Cheikh, Nidhaleddine. “The role of the business cycle in exchange rate pass-through: the case of Finland.” Journal of Quantitative Economics 14.1 (2016): 15-27. Retrieved from https://deepblue.lib.umich.edu/bitstream/handle/2027.42/132977/wp1078.pdf?sequence=1&isAllowed=y

Ludlum, Marty. “Gender, indoctrination, and religious effects on ethical stakeholders: a case study of finish business students.” Journal of Business and Educational Leadership 6.1 (2016): 13. Available at http://asbbs.org/files/2016/JBEL_Fall_2016.pdf

Sinha, Neeta, and Neelam Kshatriya. “Gen Y’s Workplace Expectations on Employment Terms and Conditions: Comparative Analysis of Collegians and Office Goers.” Scholedge International Journal of Management & Development ISSN 2394-3378 3.8 (2016): 137-163. Retrieved from http://www.thescholedge.org/index.php/sijmd/article/download/340/419

Schermerhorn, John. Core concepts of organizational behavior. Hoboken, NJ: Wiley, 2004, Print.

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