Business & Investment Trends between Australia & Sweden

On the 29th of September SACC and the Australian Business Council of Sweden joined forces and delivered, for the first time ever, a joint webinar to its members both in Sweden and in Australia.

Special Guests, HE Bernard Philip Australian Ambassador to Sweden and HE Henrik Cederin, Swedish Ambassador to Australia, were joined by Martin Ekberg, Trade & Invest Commissioner and Country Manager to Australia, New Zealand and the Pacific Islands and Jennifer Mackinlay, Senior Trade and Investment Commissioner for UK, Ireland & Nordics, in a discussion about business and investment trends in Australia and Sweden in a post-covid-19 world.

This historic event was opened by the two Chairmen of the Chambers, Jan Gardberg and Warren Campbell, who jointly offered a warm welcome to the audience, listening in from both sides of the world.

Over the past six months, SACC has through a number of webinars, explored the consequences and the impact that covid-19 has had on business and trade and what businesses have learned from this pandemic. These webinars have been including representatives from many different sectors, offering different aspects and what has been clear throughout these discussions is the need for businesses and individuals to adopt and transform and that trust, inclusion and collaboration will be lighthouses to guide the way forward.

In reference to what the outlook is for the trade and investment policy in Australia and Europe, post this pandemic and considering if there is a risk of renewed protectionism, Ambassador Philip acknowledged that there is indeed some risk of renewed protectionism. Whether it manifests as trade tensions between the major powers, US and China, or in some cases, US and the European Union, or as challenges to the multilateral system, these are indeed signs of increased protectionism.

“We have also seen countries looking inwards which in part, is understandable, but it has also led to unfortunate actions like restrictions on the flow of medical supply as we saw early on in the crisis. There is also a challenge for policy makers as they wrestle with important policy matters like digital trade or climate, to navigate the right balance between good regulation and then actions that stray over to protectionism” said Ambassador Philip. “The broader risk in all of this is the possible intersection between protectionism and geopolitical competition, where they can intersect in a destabilising way. So, I think we do have to recognise that it is an environment that we have to work very hard to manage” continued Ambassador Philip. Ambassador Philip highlighted that there still are some bright spots. Australia has a renewed focus on multilateralism, including its engagement with the G20, OECD and WTO, which is more important than ever. One example of Australia’s support of multilateralism is the covax facility that will provide equitable access to the vaccine when it comes.

Australia and the European Union is continuing to make good progress on the Free Trade Agreement negotiations. Ambassador Philip concluded that “The overall picture is one with encouraging signs”. There are some adjustments that are sensible that could point to increased protectionism, in terms of policies, whether it is building better resilience in supply chains or from a national security perspective, giving greater attention to investment screening. However, “Australia’s view, a view I believe also shared by Sweden, is that this has to be done within a construct of support for free trade,” said Ambassador Philip.

Europe seems to have doubled down on its commitment to a Green Deal, while the Australian Government has just released its first Low Emissions Technology Statement. This presents opportunities for business and investment between Australia and Sweden. Ambassador Philip said that this area is “One of the most exciting areas of the relationship between Sweden and Australia, and more generally between Europe and Australia”. There is a strong commitment in Europe for sustainability and emissions reduction as a central part of the post- covid-19 recovery, which was highlighted in its revised 2030 target but also seen through the role that fiscal stimulus can play in delivering emission reduction targets. Ambassador Philip is recognising an exciting trend in the Nordics around decarbonisation and recognises that there is a powerful sense of companies seeing a competitive advantage of being an early mover in this space. “There is a similar movement in Australia where we really are on an accelerated drive for emissions reduction”. In Australia’s recent Low Emissions Technology Statement, there is a focus on five priority technologies and looking across these areas, there are plenty of complementarities between Australia and Europe. On a political level, one group that Australia joined last year, is the Leadership Group on Industry Transition led by Sweden and India, which presents a good platform for change.

From a Swedish perspective, Ambassador Henrik Cederin shared his perspective on the opportunities and focus areas for business and trade post the pandemic. “From a political perspective, the covid-19 crisis which has led to a shift for online meetings which in turn has led to very good interactions [between Australia and Sweden] with a number of meetings taking place even at the very highest level which in turn bodes well for a good corporate involvement,” said Ambassador Cederin. Whilst there has been a slowdown in visitors from Sweden, online exchange has exploded, which is a promising sign of increased cooperation between Sweden and Australia. The Ambassador also referenced the existing strong position of Swedish businesses in Australia with more than 200 companies with an established presence in Australia, employing some 20,000 people. Companies that are often regarded as local companies with local capabilities. Australia stands out as a critical market for Swedish companies, with a growing economy, albeit the hiccup of covid-19, the long-term trajectory is good.

Sustainability is clearly a focus area for Australia, which will bring opportunities for Swedish companies to invest in Australia. Swedish companies are often leaders in adopting sustainability perspectives and could bring valuable technology and knowhow to Australia in this regard. What Swedish companies can offer the Australian market with the new demands in this market place, makes it a good fit. “We will play a role in the green transitioning that will take place in Australia,” said Ambassador Cederin.

In reference to issues that we need to pay particular attention to in a global trade perspective, Ambassador Cederin refers to the shock that we have seen to supply chains and the tendency that we have seen to reassure local supply chains, politically labelled as strategic autonomy. “This portrays a challenge to increased openness. The fear that this crisis has instilled in this market has been seen in many governments around the world. We have to be active in advocacy for open trade” said Ambassador Cederin. Ambassador Cederin continued “We know that in Sweden, we built our strong economy on open trade and our firm belief is that it [open trade] will be helpful for all countries”.

Martin Ekberg said that there are six major shifts that we now see in the Australian business landscape that have been accelerated due to covid-19. Some already ongoing pre-covid-19 but some have increased and they are; the upgrade of Australian defence capabilities, fast-tracking of key infrastructure and the focus to drive local manufacturing competitiveness. More industry agnostic shifts such as the uptake in zero emissions technology, uptake in digitalisation and cyber security but also a growing ambition to diversify Australia’s trade footprint in terms of trade partners, are also recognised shifts. “Covid-19, as well as the trade conflict between the US and China, has exposed Australia’s trade vulnerability,” said Martin Ekberg. Australia’s high dependability on China has hit Australia very hard. Martin Ekberg also referred to the trade restrictions imposed by China on Australian exports and predicted that these may well continue, which will create a lot of economic uncertainty. This emerging situation should mean opportunities for Swedish companies, Australia already is the 4th largest export market for Sweden outside of the European Union.

Another area with growth potential that Martin Ekberg would like to stress, is smart manufacturing. Sweden has a solid track record in smart manufacturing, an area that has been somewhat neglected in Australia (Australia ranks the worst compared to other OECD countries). Manufacturing self-sufficiency is therefore an opportunity for increased bilateral knowledge exchange, which will assist in making Australia a manufacturing hub. Adaptation of new technology which will enable industry 4.0 and also offers an opportunity to build a local supply chain. “This could be the right time to rethink production strategy,” said Martin Ekberg. By way of advice for Swedish businesses looking at investing in the Australian market, Martin Ekberg could conclude a few areas for businesses to look into.

“The transition to a more sustainable Australia offers a lot of opportunities for Swedish companies to pioneer sustainable solutions in Australia.” Martin Ekberg also highlighted that there has been a shift on how we phrase the word ‘domestic’ as it is no longer only referring to having a local presence. Having a domestic operation also entails local investment in r&d, in manufacturing but also looking at export opportunities from Australia to the regional market. Other aspects for businesses to consider is to stay premium as it will always deliver value and to stay close to customers. Another recommendation is to acquire local knowhow, a local knowledge ecosystem of sorts, maybe through acquisitions.

Jennifer Mackinlay commented that despite the overwhelming challenges engendered by Covid-19, the pandemic has triggered a lot of new opportunities including potential opportunities for reinvestment in Australia. Challenges to supply chains have seen a renewed focus on resilience which in turn has underscored the role and acceleration of digital technologies as well as new technologies such as 3D printing. Australia’s renewed focus on manufacturing and digital technology across all sectors is creating opportunities for example in tele-health, telework and online education which is fast tracking the digital economy. “These strategies will help with Australia’s economic recovery but will also underline the compelling business case for investment in Australia,” said Jennifer Mackinlay.

Australia’s Low Emission Technology Statement, is recognised as another opportunity for Swedish businesses. The Australian Government is investing in the next generation of energy technologies that will deliver lower emissions, reduced costs and more jobs. With Sweden considered a global leader in this regard, Swedish businesses will be well placed to leverage this opportunity. One of the prioritised technologies in the Low Emission Technology Statement is clean hydrogen. The National Hydrogen Strategy released in 2019 sets out the initial actions needed to support an emerging domestic industry. The Australian Government’s new $1.9 billion investment package in new energy technologies includes new commitments that will support hydrogen, including $1.6 billion in new funding for ARENA, a $74.5 million Future Fuels package, and a $70.2 million to activate regional hydrogen export hubs. The National Hydrogen Strategy complemented by the Technology Investment Roadmap and Low Emission Technology Statement will enhance Australia’s energy security, will create jobs and build a hydrogen export industry.

Swedish companies offering hydrogen technology looking to invest in Australia should also explore opportunities to get involved in the hydrogen strategy pursuant to which Australia aspires to become a world leading hydrogen producer. Jennifer Mackinlay also mentioned the circular economy as another area where there is scope for Swedish investment in Australia, following Australia’s one billion dollar commitment to the transformation of Australia’s waste and recycling capacity.

  This session was moderated by Teresia Fors, Vice President of SACC.

 

Listen to the full webinar and the interactive Q&A session here.

The SACC and ABCS will continue this collaboration and aims to bring you another webinar in the near future where we will take a deeper dive into some of the topics raised during this session.

Keep your eyes on the SACC socials Linkedin and Facebook for further updates as announcements are made about future events, and check out the Recent Events and Webinars page on the SACC website for summaries and recordings of our recent presentations. Please contact us for questions and further information: sacc@swedishchamber.com.au.

Emerging stronger on the other side – What awaits us at the end of the pandemic?

On 24 September the SACC teamed up with the Swedish Chambers in the UK and Europe for this high profile virtual event “Emerging stronger on the other side”. The discussion focused on the preparation for normalcy after the pandemic for business and society. The conference featured a line-up of prominent speakers, all experts within their respective fields, including Cecilia Malmström, Visiting Professor at University of Gothenburg, and former EU Trade Commissioner, Carl-Henric Svanberg, Chairman of Royal Swedish Academy of Engineering Sciences, and Chairman of Volvo Group, Ylva Berg, CEO of Business Sweden and James Sproule, UK Chief Economist at Handelsbanken. The discussions were moderated by Nik Gowing, Director and Founder of Thinking the Unthinkable and former BBC news anchor.

All participants to the discussion seemed to agree that the pandemic we currently find ourselves in will not have a clear ending. Ylva Berg concluded that ‘the other side’ will not look like what we were used to seeing before the pandemic. “I think the pandemic has affected all parts of our society in a profound way – our personal lives and business lives, but also the geopolitical and global society in a way which is something that we will have to get used to and live with for some time.” Reiterating what Cecilia Malmström and Carl-Henric Svanberg had earlier touched upon, Ylva stated that there is good transformation taking place right now at a rapid pace and that we should plan for the worst and hope for the best. “If we have a more positive view and really try to fight for that, we can both see business opportunities and also use what we have learnt during the pandemic and apply that to other areas in society.”

While starting off by stating that the UK is facing the worst recession since the second world war, James Sproule expressed optimism regarding the future. “I think that global trade and globalisation will turn more towards the sharing of ideas rather than the transfer of goods. The big driving force in the future is going to be the desire of people to talk to one another, to share ideas, processes and approaches. The people who do well in the long-term and are not the strongest but the most adaptable. I see a great deal of adaptability within many European economies and societies and I think that’s ultimately a huge strength.”

Responding to the question of what businesses will emerge stronger post-pandemic, and what the positive societal effects the pandemic will bring, Carl-Henric Svanberg concluded that digitisation offers tons of opportunities. “No one can predict exactly what the future holds and what jobs will actually emerge, but by giving entrepreneurs the right opportunities and making sure that the infrastructure is there, they will create a ton of jobs.” He also stated that we will not see a greening of economies unless we also manage to successfully digitise. “Almost every green idea that comes up is based on new technology.”

Cecilia Malmström concluded that it is necessary for politicians, government and businesses in western democracies to realise that there is something on the other side and that we must come out stronger. “It is not the first time we face a pandemic, it will not be the last time, and there will also be other huge crises. This is an opportunity to really get together and to formulate new visions and make sure that they are broadly anchored into different parts of society. It may sound a bit banal but I think that’s the only way forward.”

Did you miss the chance to attend the webinar? We have made it available on Youtube in its entirety, where you can listen in on the discussions.

Watch the webinar on Youtube

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Summary of Crypto Currency Webinar 17 September

Cryptocurrencies are used to conduct international financial transactions online without interference from financial institutions and governments. The interesting thing about cryptocurrency is that the industry is still very young and that the space is always evolving. New cryptocurrencies are popping up every day with certain projects clearly using blockchain technology better than others.

This webinar was an introduction to cryptocurrency, we talk about the history and background and answered questions like, what is cryptocurrency and why was it invented? We got an insight into the industry and market of cryptocurrency and the difference between fintech and cryptocurrency. We focused in on the largest cryptocurrency Bitcoin, explaingin how it works and why Bitcoin the largest.

The session was moderated by Linda Stanojevic, Director Avenue’s PMO, Sydney and our topic experts were:

  • Henrik Andersson, Chief Investment Officer at Apollo Capital, Melbourne 
  • Eric Wall, Chief Investment Officer at Arcane Assets, Sweden
  • Kalle Rosenbaum, Author and Bitcoin Consultant at Popeller AB, Sweden

Here are some more of the questions covered in the session:

  1. Crypto Currencies have been criticised for having no intrinsic value since they are not backed by anything. However, on a philosophical level, one can argue that gold does not have much intrinsic value either. In the end, the value of something is determined by what someone else is willing to pay for it. However, with Crypto Currencies the situation is more complicated. The barriers to entry are not too high with more than 4,000 cryptocurrencies in existence. In theory, you can have an infinite number of different Crypto Currencies with an infinite number of Crypto Coins created. Does this have an implication for the long-term value of Crypto Currencies?
  2. While 4,000+ Crypto Currencies are in existence, most of them are micro caps. Is there a long-term argument for having that many Crypto Currencies in the market? In other words, why would you look beyond the largest Crypto Currencies? 
  3. Different Asset Classes appeal to different type of investors. Stocks and bonds are bought by both retail and professional/institutional investors. Investments in Venture Capital, Private Equity and FX (currencies) are usually done by professional/institutional investors. What is driving the investment in Crypto Currencies? What type of investment horizon do investors hold?
  4. When investing in traditional Asset Classes such as stocks, advanced investors do stock picking while less advanced buy funds or ETFs. Are there fund/ETF equivalents in the Crypto Market? Are they viable investment vehicles considering counter-party risks?
  5. Similar to the traditional Finance Industry where brokerages have gone bust (Lehman Brothers), so have also Crypto Currency brokerages/exchanges gone bust. What recommendations do you have regarding selecting exchanges/brokerages for Crypto Currency trading? Is a cold wallet a must? 
  6. Currency trading is significant among institutional and professional investors. Besides so-called Stable Coins that have been specifically designed to peg their value against something else (e.g. US Dollars), Crypto Currencies have exhibited extreme volatility over time. Bitcoin value to AUD changed by $4 just in July. Do you see Crypto Currencies such as Bitcoin start stabilising and behaving like normal currencies? In what time frame and why?

Listen to the full webinar and the interactive Q&A session here.

Moderator:

Linda Stanojevic, Director Avenue’s PMO, Sydney

Linda has comprehensive experience in financial services, start-ups, and telecommunications. She has worked with technology and product innovation in Telecommunications (Ericsson), traditional Financial Services (CBA, Westpac), FinTech and NeoBanks. She has a Master of Science in Engineering from the Royal Institute of Technology in Stockholm and is currently building a new Australian Business Bank, Avenue, together with a lean start-up team in Sydney.LinkedIn: www.linkedin.com/in/lindastanojevic/

 

 

 

Panellists: 

Henrik Andersson, Chief Investment Officer at Apollo Capital, Melbourne

Henrik has over 17 years experience in global financial markets, with almost a decade on Wall Street. Henrik has extensive experience across three continents as a quantitative analyst, senior research analyst and in institutional equity sales. Henrik holds a Master of Science in Engineering Physics from the Royal Institute of Technology (KTH) and a Master of Science in Business Administration and Economics from Stockholm University. Henrik is a CFA charter holder. LinkedIn: www.linkedin.com/in/henrikandersson/

 

 

 

Eric Wall, Chief Investment Officer at Arcane Assets, Sweden

A well-known cryptocurrency expert in Sweden and internationally. He is the former head of blockchain and cryptocurrency at Cinnober. Eric holds a MSc in Engineering, Information and Communication Engineering Technologies from Lund University, and wrote his master’s thesis about blockchain technology. LinkedIn: www.linkedin.com/in/ercwl/

 

 

 

 

Kalle Rosenbaum, Author and Bitcoin Consultant at Popeller AB, Sweden
Kalle Rosenbaum is the author of Grokking Bitcoin, a technical odyssey of Bitcoin. He is a Bitcoin technology expert, working mostly
with software development in the Bitcoin space. Kalle founded Popeller, a Bitcoin consultancy firm, in 2015. LinkedIn: www.linkedin.com/in/kallerosenbaum/

 

Introducing – EXPERIENCE SHARING SESSIONS

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Solutions Focused Leadership for Personal and Professional Development

On August 13 SACC YP presented this interactive virtual meeting about Solutions Focused Leadership for Personal and Professional Development.

Participants were guided through the online event by Jan Marklund; leader development coach, author, public speaker and entrepreneur, who gave us an insight to what it means to be a Solution Focused leader and how you can use the approach to gain momentum in your career or business.

 

 

 

 

Solutions Focus

Solutions Focus is a scientifically proven leadership method that allows you to identify and take advantage of the existing – often unknown – potential within yourself, your team or organisation.

It provides methods for constructive conflict resolution, better performance, improved staff retention and promotes overall health and happiness within and between people. With this unique, interactive webinar you get insight into how it works.

Jan Marklund spoke about how to solve problems and conflicts without talking about them and how to improve yourself without analysing your weaknesses. An extremely effective and common practice among successful world leaders.

Jan guided us through 

  • The difference between Solutions Focus and problem focus
  • The approach and methodology
  • The power of questions vs answers
  • The importance of constructive reflection
  • How to use the power of words and language for effective communication and shifting mindsets
  • How to deal with complainers, perform constructive conflict resolution and how to give solution-focused feedback (or feedforward).
  • How to use your strengths to your advantage

Key takeaways from the session

  • Opportunity to interact and practice what you learn
  • Practical tools you can apply to your own challenges
  • To hear practical examples and experiences from a highly experienced leadership development coach and expert, member of an international Solutions Focus association.

These are just a few highlights of the presentation, view the presentation slides and listen to the video recording here: https://youtu.be/I3rNOlverKE

About Jan Marklund

Working with managers, executive teams, athletes and politicians, Jan Marklund has extensive expertise around best practice and the common challenges modern leaders face on a daily basis.

Introduced to SFiO* in 1990, Marklund’s diverse and fascinating leadership- and consulting experience spans across management in both the private and government sectors. Including, but not limited to, working as an intelligence officer for UN, founding and running an industry magazine, consulting small and large organisations including the Swedish Fire Brigade and corporations like SKF, in strategic and practical strategy, running a school, professionally training athletes and coaching a regional handball club on refugee integration.

To help leaders build strong teams and successful organisations, Marklund founded GongGång Ledarutveckling i Sverige AB, offering leader development programs, individual coaching and a range of interactive workshops, all based on the solutions-focused and salutogenic approach. For over 15 years, he and his team have assisted managers and executive teams in identifying and applying their existing strengths, shifting mindsets and approaches through constructive reflection and a range of practical tools for the big and small challenges that occur in the every-day-life of managers and executive teams. * Solutions Focus in Organizations, an international network of solution-focused practitioners which promotes, supports and develops research and applications of Solution Focus in Organisations.

Jan Marklund is the co-author of the book “From stagnation to success – Solution Focused tools for newly appointed managers” [Swedish title: Från tomgång till framgång – lösningsfokuserade verktyg för nyanställda chefer] published 2016. A practical handbook for leaders in how to use Solutions Focus to get traction and accelerate success in a new management role. Filled with tips and practical examples. 

To order the book in Swedish, click HERE

He is currently conducting research for his second book, which investigates the typical characteristics of Swedish leadership and the impact on the world. Jan is currently conducting research for his second book, which investigates the typical characteristics of Swedish leadership style, its international reputation and impact on the world. As such, Jan is inviting leaders and managers all over the world, experienced in Swedish leadership, for research interviews. If you’re interested in contributing, please contact Jan. 

Event special

Jan Marklund is offering a great event special to each business who attended the webinar. His popular workshop The Meeting Sharpener is a half-day online workshop uniquely designed to help management teams “make meetings more engaging, pleasant and effective”
Original price: $3400
Event Special: $1400 
Valid until 30th of September.
For more details, contact Jan or check website (swe): https://www.gonggang.se/mtesvssaren 

Testimonials from leaders that have attended Marklund’s seminars, workshops or programs:

“I have discovered leadership skills within myself I didn’t know I had.”

“I use my time more effectively and more targeted, i.e. I prioritise better, delegate better and get more time for strategic work.”

Welcome to contact Jan about the session content, Solutions Focus Leadership, his work and online courses:

Jan Marklund, GongGång ledarutveckling AB
ph. +46 733 359 191

Contact us if you would like more information: sacc@swedishchamber.com.au

For event updates and information visit www.swedishchamber.com.au and follow us on Facebook  I  Linkedin  I  Twitter

Digital Marketing Online Event by SACC and Amire 23 July 2020

Summary and links from SACC Live Streamed Event hosted by Amire Strategic Digital Marketing with Facebook, HubSpot and IKEA

The focus on this event was – how to navigate and increase market share from a digital marketing perspective. Amire Strategic Digital Marketing studio will provide tangible insights on how businesses can utilise digital marketing successfully and representatives from Facebook, HubSpot and IKEA will provide specific tips on how they are supporting businesses market their brands, products and services.

The event was hosted by Sean Rooney, Director Amire Strategic Digital Marketing and we also had the following representatives presenting:

  • Christian Becker, E-commerce Manager, IKEA Australia
  • David Fernandez, Client Partner Retail, Facebook
  • Kat Warboys, Head of Marketing, Hubspot

Jan Gardberg, President of the Chamber and CEO of IKEA Australia & New Zealand, welcomed all and gave us a brief intro of the SACC and the topic for this webinar.

Sean Rooney, Director Amire Strategic Digital Marketing gave us an insight into useful google tools for analysing data, trends, local SEO and receive customer reviews. He spoke about the importance to connect with your customers through social media. “It is time to be more sensitive and empathetic. We need to look at how we are helping people and the community. We need to look at what our corporate social responsibility is and what our policies are and how we are educating and informing our online community.” Furthermore, Sean explained the importance of attribution modelling which can increase your performance with 20-40%. Here are some useful links recommended by Sean:

Christian Becker, E-commerce Manager, IKEA Australia presented how IKEA successfully increased their online market share. IKEA launched e-commerce in 2018 and the online market share within the home furnishing market is around 15% now. As a result of COVID the online conversion rate has tripled. Christian explained how they have achieved this and it comes back to understanding who your customers are and what are their needs. IKEA also put a lot of focus on SEO (search engine optimisation) and SEM (search engine marketing) and shifted to keyword targeting on none branded search. They updated the website with SEO in focus to make it easier to browse, explore and plan and launched free home furnishing advice via a virtual design service. Another area IKEA focused on was customer promise with instant customer gratification through high and stable stock availability, free contactless click and collect, contactless and consistent delivery offer.

David Fernandez, Client Partner Retail, Facebook spoke about the change in peoples behaviour as a result of COVID and lock-down. People are now the most important things in our lives and the crisis has made us think more about our choices. People demand more precautions, value personal space, appreciate essentials, assist and support local brands, opt for cashless, tap’n go, self-service and contactless encounters. “We are re-evaluating the things we took for granted and really hone in on what is truly essential for us.” David continued to present some tools which Facebook offers such as Stories which gives people the power to creatively communicate and the acceleration of Stories is much faster than Feed within Facebook. It started on Instagram, then Facebook and now LinkedIn is now rolling out a stories capability as well. He also highlighted in-stream video details as a great branding opportunity for businesses to use as a natural extension to their screen strategy for online videos.

Kat Warboys, Head of Marketing, Hubspot began by sharing the HubSpot’s Benchmark Data report about what COVID-19 has taught us about growth in a crisis. Website traffic has increased steadily and peaked in mid June at 25% above benchmark. Customer initiated chat is a service that customers really value and increased in June at 58% above benchmark. There has also been an increase in engagement in marketing email but a decrease in response rate when it comes to sales emails. Kat highlighted the takeaways from these changes (see below) and to pay attention to, How have your buyers changed with regards to behaviour, needs? What challenges have emerged and how can you adapt? Has a new persona emerged that you are able to provide a service or product to?

  • Revisit your buyer persona and consider how your content and product/service may need to adapt.
  • Your website is your new shop front, invest in SEO to ensure potential buyers can find you and invest in chat and chatbots to help your team’s productivity and support customers, especially as their expectations evolve.
  • Focus your sales on quality over quantity to improve outcomes.

Useful links from Kat:

Link to the webinar recording: https://www.youtube.com/watch?v=xaSvs-sExU8

This event was kindly supported by Amire Strategic Digital Marketing and will be held at their Manly based office and live-streamed.

Contact us if you would like more information: sacc@swedishchamber.com.au

For event updates and information visit www.swedishchamber.com.au and follow us on Facebook  I  Linkedin  I  Twitter

Summary of SACC Webinar 23 June with Professor Göran Roos on the present state of the economy and “the new normal”

Again the Chamber had the privilege to welcome Professor Göran Roos a keynote speaker and this time Professor Roos joined us virtually from the UK. The webinar was organised as a follow up on our webinar series COVID-19 impact on business, trade and investment with a focus on the economic impact. Professor Roos gave us a comprehensive insight into the present state of the Economy and the “New Normal” with implications for the Resource Extraction Industry.

As presented in the bio below Professor Göran Roos has many titles, accomplishments, and credentials including a Fellow of the Australian Academy of Technology and Engineering. A very prominent title awarded by 900 fellow peers of the organisation. ATSE is an Academy of independent experts helping Australians understand and use technology to solve complex problems. Göran was born and raised in Sweden and graduated from the Chalmers University of Technology in Gothenburg. Göran lived in Adelaide for many years and recently moved back to the UK with his family. Professor Roos has been a keynote speaker at a few SACC events and last year he presented a very interesting and challenging topic at a SACC Perth WA event on “Implications for the mining industry of moving to a low resource footprint value-creating paradigm” i.e. “what’s the new normal for the mining industry when the world is going green”.

Professor Roos’s presentation for this webinar with focus on the present state of the Economy and the “New Normal” is based on insights from statistics, facts, and conclusions from a research perspective.

Göran began to present the curve for the economy to get back to what we call the new normal and what the new normal is going to be. “In the beginning, there was a lot of optimism about a v-shaped recovery but in reality, it looks like it will be more of a “Nike Swoosh” recovery meaning a much slower recovery than anticipated It will take many years until we get back to where we were and even longer to where we ought to be”, said Professor Roos.

Looking at the GDP forecast for Australia the GDP drop was about 40%. “The employment is usually in these types of crisis situations a laggard and it will take longer for the employment to come back than the GDP”. The unemployment rate for Australia if we only see a single hit of the pandemic is forecasted to increase from 5% to 8 %. The unemployment issue is very large and it causes increased crime, mental health problems, and general disturbance issues in the economy. The three most impacted sectors with regards to unemployment are Accommodation & food, transport & storage and manufacturing.

Göran brought up the COVID-19 impact on the Gross National Income (GNI) based on the actual number of cases in each country plus the quarantine shock. The direct effect on the GNI in Australia was -8.7%, the effect on the GVC (Global Value Chain) was -2.1% compared to China where the direct effect was -11.3% and the GVC -2.4% and Sweden with 0% direct effect, as a result of no lockdown but the GVC was -3.6%.

The sector which has experienced the biggest change is the service sector and especially the airline and travel industry. Some airlines are looking at being nationalised and many airlines won’t be able to survive. Airfreight will become very expensive, airfares will go up due to the lack of air passengers especially business travellers.

Aspects of the new normal includes increased automation, supply chain diversification to increase resilience at a cost, re-localisation or restructuring of global value chains disrupted by digital ways of working and a rise of new business models.

“Globalisation is slowing down maybe even in some sectors and countries reversing quite dramatically, this means that we will have more protectionism in some sectors in some countries”.

These are just a few highlights of the presentation, to listen to the full recording of the webinar with the Q&A session please follow this link: https://youtu.be/rUOCvGCCT3k

 

Keynote speaker biography

Professor Göran Arne Roos holds a MSc in Engineering Physics from Chalmers University of Technology in Gothenburg, Sweden; an MBA in Strategy from INSEAD in Fontainebleau, France; an Advanced Postgraduate Diploma in Management Consultancy from Henley Management College in Henley-on-Thames, UK; and a Ph.D. in Business and Management from University of South Australia in Adelaide, Australia. Göran is a specialist in the field of intellectual capital and an expert in innovation management and strategy. He is a common advisor to organizations and governments around the globe. Göran is a CSIRO fellow and also a fellow of the Australian Academy of Technological Sciences and Engineering (ATSE) and of the Royal Swedish Academy of Engineering Sciences (IVA). Göran was named “one of the 13 most influential thinkers for the 21st Century” by the Spanish business journal “Direccion y Progreso” and was appointed “Manufacturing for the Future” Thinker in Residence by the South Australian Premier for the year 2011 and an appointed member of the Prime Minister’s Manufacturing Leaders Group 2012/2013. He was selected for Committee for Economic Development of Australia (CEDA) Top 10 Speeches 2013: A collection of the most influential and interesting speeches from the CEDA platform in 2013 for the speech: “The future of manufacturing in Australia: Innovation and productivity”.

                                                           

The session was moderated by Figge Boksjö, Chair of the SACC Perth WA Chapter.

Contact us if you would like more information: sacc@swedishchamber.com.au

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“The World’s largest digital workplace experiment” and the COVID-19 pandemic’s impact on international cooperation and the global sustainability agenda

This third webinar in the SACC’s webinar series 11 June on the COVID-19 pandemic’s impact on business, trade and investment looked at the future beyond the pandemic and the conversation focused on what we have learned so far and what we believe will be “the new normal” for business. We also looked at the consequences of the pandemic on urban culture, the society at large as well as the pandemic’s impact on international cooperation and the global sustainability agenda.

On the panel for the webinar we were delighted to welcome back to SACC HE Pär Ahlberger, Ambassador for Sustainable Business at the Swedish Ministry for Foreign Affairs, who was calling in from Stockholm; Sarah Goss, Head of Innovation, Ericsson Australia & New Zealand as well as Sam Okeby, Head of Commercial Development, Lendlease Australia.

 

We commenced the conversation in regards to how technology has been such an important enabler for all of us to be productive whilst working from home. Sarah Goss, commenced the conversation with “We are at a moment in time which has really placed a spotlight on what is an ‘essential service’ and we have all seen the essential nature of connectivity. Our communications networks are recognized as critical national infrastructure”.

She continued by recognising that despite a 70 percent increase in usage of the NBN, the network is showing a lot of robustness and reliability in this time of crisis.

Sarah also made reference to a report released on 9 June 2020, by global research company OMDIA (formerly Ovum), stating that Australia is ranked 12th out of 22 countries in the global 5G market which have been examined for their deployment of the technology. The report used operator launches, network coverage, subscriber take-up, 5G spectrum availability and the regulatory ecosystem to rank each 5G market – but rankings were determined as of the end of 2019. With the impact of COVID-19 there has been some increased focus on 5G in Australia.

As a testament to the criticality to accelerate the roll-out of 5G, Telstra CEO Andy Penn announced in May this year that Telstra will bring forward its $500 million of capital expenditure to increase capacity in their network which was planned for the second half of FY21 into the calendar year 2020.

Sarah continued “Through COVID-19, we have seen a huge acceleration in digitization across the economy including telehealth, remote learning, remote working and e-commerce. We believe 5G will be a key enabling technology to support Australia’s digital economy into the future”.

Sarah also recognised that this crisis and the extensive remote work set-up, has certainly highlighted that it is critical to get the people dimension right and that a remote working set-up has also shown to put different demands on leadership capability.

On the question of what we have learned from this crisis, Sarah concludes “We’ve learnt that connectivity is like oxygen and we’ve learnt to slow down and recognise what’s important in life. We’ve also learnt that Australians can pull together for the collective good and in the context of companies and digital technology, we’ve not only learnt but we’ve really up-ended traditional beliefs about remote and flexible working”.

In March of this year, Ericsson shifted the majority of its staff to work from home – nearly overnight. Today, around 85,000 Ericsson employees, who are running networks, working in R&D and support functions, are all nearly to 100 percent working from home.

“We need to remain adaptive to the prevailing conditions through this transition which we’re going through and to continue to learn as we shape what a post COVID-19 world will look like” was Sarah’s response to what she believes that Ericsson will bring into the future. She also said that there is still a lot of uncertainty and a degree of experimentation. “Having said that, there is no going back on some things, and I think widespread remote and flexible working will remain”.

Generally speaking, she also recognised that companies have by default increased their technological competency and high-tech skills of their workforce which she believes is only set out to continue and which is also underpinning that companies will have to invest in their IT infrastructure.

Sarah’s recommendations for businesses going on a digital transformation journey is, just like with any change process, the people dimension is always the most complex and challenging but also the most important challenge to get right. “In embedding the positive outcomes from COVID-19 long-term, including more work flexibility, we must ensure we address the mindset, culture and WoW [Ways of Working] piece that will enable sustained change and success”.

Also to mention in this context is the necessity to update policies and practices, especially relating to remote and flexible working. The business’ leadership capability must also be developed hand-in-hand with this. At Ericsson they are currently running targeted learning and development initiatives for their top 120 leaders to ensure they are able to effectively meet the new demands for leaders.

“We are also focusing on ‘now is the time’ to crack through the change we want to see in D&I[Diversity and Inclusion]; D&I enhances business performance and realising these benefits in practice must be a central factor in the way we design our evolution and set the tone for our evolved culture​. We also want to break down barriers and friction that makes it difficult for people to do their jobs or difficult for customers to do business with us.  Persisting issues relating to simplification must be resolved” said Sarah.

 

Another area, which also has been spoken about a lot during this crisis is the physical space where we work, the office. Sam Okeby from LendLease Australia, said that the pandemic’s impact on workplace development is already widely recognised and now the workplace is pretty much reimagined.

“Our previous ways of working and living has definitely changed.  The impact of COVID-19 has driven the world’s largest digital workplace experiment and this has changed the way we are viewing physical space, including the function of our cities” he said.

Sam also said that how we return to our cities and what our new work patterns will look like, will be directly influenced by what culture companies want to achieve and how physical space contributes to achieving these goals. “The physical workplace has always been a significant lever in the shaping of culture – and will still be going forward, and now with the digital tools which we have become very comfortable using, this will result in a more diverse network of spaces forming part of the reimagined workplace,” he said.

Sam also raised the impact on businesses attracting talent during and post-COVID-19 “The companies we work with have always had a mission to attract talent and in the past talent has always followed companies to the cities where they operate from. Given the effective use of video conference technology, we do see workplace strategies incrementally shifting to now capture talent previously isolated by location”.

One thing that has been identified from is the digital workplace experiment was the relationships that had formed through working together physically, were directly linked to how effective people felt working digitally with each other.

“Overall though we still see companies prioritising the need for a physical workplace to shape culture and to connect people. Our engagement with customers has confirmed that people want to immerse themselves in the culture of a business and align themselves with the values of the business and physical places have been a key driver of this” said Sam.

On the question of what Lendlease has learned from the crisis, Sam said “COVID-19 has reinforced that people are the number one consideration.  At Lendlease the safety of our people has always been our first priority. While companies consider the future of their workplaces, we expect that they will focus on wanting to provide a healthy environment for their people to work in. Also given the consideration working flexibly or WFH [Work From Home] will now play, companies will need to balance this new way of working with providing equal opportunity for those who this option may not be achievable”.

Sam also mentioned how Lendlease is committed to delivering places and buildings that advance human health and wellness and that they have been working with the International WELL Building Institute to ensure our projects are certified to their WELL Building Standard. Going forward, Lendlease believes that having WELL certified buildings will be a key decision point for companies.

Another aspect of the crisis that we need to remember which Sam pointed out is that the world has just had an unprecedented detox.  It has been estimated that the 3 months of lockdown around the world has generated roughly a 9 percent reduction in carbon emissions. Although that is the largest drop for decades, it is also recognised that even a global lockdown only produced a 9 percent dent. To reduce emissions to meet a less than 2 degree target requires that same level of reduction every year for the next 20 years.

Off this remarkable result, Sam said “Key going forward will be how we can sustain some of the positive impacts, how we can promote the uptake of cycling, walking and active transport options long term, and how can we also resist the reaction to jump back into single occupancy vehicles”.

Sam also referred to signs that unlike during the GFC, companies aren’t backing away from sustainability. “We are also seeing calls to ensure economic stimulus packages are directed to green and sustainable initiatives, a so called ‘Green Recovery’” he said.

Sam continued “At a more granular level the density of spaces is currently being debated, I believe the key here is that we need to listen to people as they return to cities and make sure we make people feel comfortable with how space is occupied. I believe technology can play a critical role here helping you to plan your days so that you can move around cities at a time and in a way that makes you feel comfortable”.

On the question what he believes will be a focus for commercial construction development in the future, Sam said that “My prediction is that this convergence of the physical and digital places will happen faster now as a result of COVID-19. The digital world and its convergence with the physical world has been a mega-trend we have been planning for.  In 2019 Lendlease launched Lendlease Digital – headed by Bill Ruh, previously the Chief Executive Officer, GE Digital and GE’s Chief Digital Officer, to accelerate our digital transformation”.

He continued “I believe companies will now plan for their physical workplace and digital workplace concurrently.  Previously physical was planned first. Knowing that you work in a healthy building will also be key, so we see WELL Certification becoming more important”.

Sam also said that they are seeing that companies are increasingly adopting a network strategy for the workplace, some are referring to this as a ‘Hub and Spoke’.

“We have been working on different models to achieve a network strategy over the last couple of years with both a pilot project here in Australia being the Local Office in Sydney and C-suites business in Singapore. We will continue to work with our customers to develop the best solution for each company that matches their workplace culture strategy – with a physical network strategy and a digital strategy. Having your physical furniture, digital furniture and cultural furniture aligning will be the reimagined workplace” he said.

 

SACC was delighted to welcome back HE Pär Ahlberger to our events. HE Ahlberger was the Swedish Ambassador to Australia for five years and has remained in close contact with the Chamber since.

The response to this crisis has mainly had a domestic focus, with governments handling their own response and meeting the crisis with different measures on a local level. However, it is a global pandemic with global implications.

In regards to the global challenges that we can expect to see as a consequence of the pandemic, the Ambassador made this statement “The COVID-19 pandemic is global health, economic and social crisis. The world is in crisis management mode and international systems are being challenged. Global value chains have been severely interrupted and people have lost their jobs. The pandemic will not last forever but its effects will be felt for years to come”.

He continued “The pandemic reinforces the trend of backsliding democracy and weakened respect for human rights. There are widespread concerns of corruption and challenges to the environment. The pandemic hits hard on many groups in society and is thereby presenting us with major new challenges. We are experiencing something unprecedented in modern times”.

The Ambassador continued “COVID-19 is a test of societies, of governments, of communities and of companies. One can say that COVID-19 is the ultimate stress test for CSR (human rights, gender equality, good working conditions and anti-corruption), in the immediate crisis as well as in the long term”.

The Ambassador referred to a survey that was conducted in Sweden with some 25 global Swedish participating companies and 80 percent of the companies stated that the COVID-19 pandemic had exposed weaknesses in their business or in their value chains. 70 percent stated that their long term commitment to CSR matters had not been affected as a consequence of the pandemic. 

“The crisis is not a time for less cooperation or more protectionism. International cooperation is needed to manage the crisis, to tackle the health emergency but also to focus on the social impacts and the economic recovery” said the Ambassador.

 

The Swedish Government has launched a Platform for International Sustainable Business with an expressed expectation on Swedish companies to act sustainably and responsibly by working for human rights, gender equality, good working conditions, the environment, climate considerations and to combat corruption. Sweden has since long been a strong supporter of the UN Global Compact and will now give support to decent work in global supply chains and on sustainability in procurement.

As a recommendation for businesses on where to start their CSR work and to familiarise themselves with The Ten Principles of the UN Global Compact’s guide for business leaders in responding to the crisis, which is a guide that provides ideas and inspiration in these uncertain times to business leaders. “I am impressed by the way UN Global Compact has stepped forward, also by the way they have provided specific guidance to companies,” said the Ambassador.

Next week some 11,000 participants will attend the UN Global Compact Leaders Summit on June 15 and 16. At this summit, an important initiative will be launched, titled SDG Ambition: Introducing Business Benchmarks for the Decade of Action, which has a strong link to Agenda2030**. The aim for this initiative is to encourage more ambitious action by companies on additional issues. Over the coming months, the UN Global Compact will also invite businesses to provide feedback on this initiative.

 

The Ambassador recognised the SACC’s initiative to partner with UN Global Compact Australia already a couple of years ago “You can be proud of having engaged since long on sustainable business. You launched the first-ever collaboration between a national Chamber of commerce in Australia and UN Global Compact, and launched a project on Agenda2030 and in particular SDG5***” he said.

The Ambassador recommended the webinar participants to join the Leaders Summit next week and for SACC to continue its collaboration with UN Global Compact Australia. He also informed everyone that UN Global Compact Australia will organise a session during the leaders meeting next week to discuss climate change in times of crisis and the role of bribery prevention and detection in building strong partnerships for the Sustainable Development Goals. He also recommended companies to consider to join the UN Global Compact Academy, which includes some 10 modules related to the COVID-19 pandemic.

In addition, the Swedish Ministry of Foreign Affairs has developed an interactive CSR training module in which SACC is looking at rolling out for businesses in Australia. There will also be a CSR webinar with Swedish chambers of commerce in Asia and Pacific which is planned for September.

By Moderator of the Webinar: Teresia Fors, Vice President of SACC

 

**Agenda2030 is United Nations, 2015, “Transforming our World: The 2030 Agenda for Sustainable Development”: The Agenda is a plan of action for people, planet and prosperity. It also seeks to strengthen universal peace in larger freedom and recognizes that eradicating poverty in all its forms and dimensions, including extreme poverty, is the greatest global challenge and an indispensable requirement for sustainable development.

***SDG5 is United Nations’ Sustainable Development Goal 5: Achieve gender equality and empower all women and girls.

 

View the video recording of the Q&A session of this webinar here

Contact us if you would like more information: sacc@swedishchamber.com.au

For event updates and information visit www.swedishchamber.com.au and follow us on Facebook  I  Linkedin  I  Twitter

Swedish Chambers APAC webinar 10 June with Anna Hallberg & Carl-Henric Svanberg

Take away from Swedish Chambers APAC webinar 10 June 2020 with Anna Hallberg, Minister for Foreign Trade Sweden & Carl-Henric Svanberg, Chairman of  Volvo Group

On June 10th, The Swedish Chambers of Commerce in APAC co-organised an interesting and popular webinar on: Swedish trade and industrial support policies as well as Swedish business management during COVID-19.

We were honored to have two key patron speakers in the field of Swedish foreign trade and business: Anna Hallberg, Sweden’s Minister for Foreign Trade and Carl-Henric Svanberg, Chairman of Volvo Group share their experiences on this topic.

The webinar was a great success with an amazing 400+ participants joining in from China, South Korea, Singapore, Japan, Taiwan, Indonesia, Philippines, India, Thailand, Hong Kong, Australia and Vietnam.

 

 

 

 

 

 

 

 

During the panel session interesting topics were discussed on how Swedish trade policy has functioned during COVID-19, what industrial measures have been put in place and what can we learn from Asia.

Thank you to moderators Peter-Ling Vannerus, Chief Representative of SEB Beijing and Johan Javeus, Chief Strategist and Head of Research & Strategy, SEB.

We are grateful for the support of SEB in arranging this webinar

View the webinar here: https://youtu.be/oCDxn1jBtik

 

The concept of offering high profile webinars organized by the Swedish Chamber of Commerces in APAC is new, and after this successful first time, we are already planning many more in the months to come. Next in line is with Senior Economist at Mannheimer Swartling, Klas Eklund as a keynote speaker. So stay tuned!

Summary of SACC Annual Executive Forum on 2 June 2020

The Swedish Australian Chamber of Commerce annual Executive Forum was held 2 June. It was great to see so many people joining this virtual forum which was supposed to be a round table meeting in person.

 

The President of SACC Jan Gardberg welcomed and introduced special guests HE Henrik Cederin Ambassador of Sweden to Australia and Mr Martin Ekberg, Trade Commissioner Australia, keynote speakers Professor Göran Roos and Mr Kieran Schneemann, Government Affairs Director, AstraZeneca and SACC representatives in the meeting Jonas Lindholm, Teresia Fors and Camilla Jennings. Jan also highlighted the purpose of the meeting to create a dialogue, share experiences, to identify opportunities, areas of cooperation within and across sectors and to establish areas of support between Swedish businesses, the Swedish Australian Chamber of Commerce, the Embassy and Business Sweden.

 

HE Henrik Cederin Ambassador of Sweden to Australia, thanked SACC and welcomed the group of senior executives of Swedish businesses in Australia for joining SACC and representatives from Team Sweden (the Embassy, Business Sweden and SACC) to discuss what to do to prepare for the period post COVID-19.

Ambassador Cederin referred to the worrying global political trends that we can see now of protectionism, inward looking governments, global cooperation getting harder and harder and generally not prioritised global governance issues. He recognised that Sweden and Australia are likeminded countries and share views on the importance of continued broad global cooperation.

The Ambassador also gave an update on the high-level visit HRH The Crown Princess and the Government Representative planned for April that was postponed and informed everyone that the Embassy is hopeful that this visit will be rescheduled in the not too distant future. Furthermore, he mentioned the importance of input from the corporations so that we can add value by working together. Areas of focus will be Sustainability, Smart City solutions, Swedish Mining Initiative, Health and MedTech. Post COVID-19 will bring challenges but also many opportunities and there will be interesting openings for cooperation within different areas including the areas mentioned.

 

Mr Martin Ekberg, Trade Commissioner Australia also thanked the Chamber for organising the platform for the forum. He also recognised that Team Sweden is an effective platform for Swedish businesses in Australia to collaborate. He presented the results from a survey Business Sweden conducted surveying Swedish companies early on in the crisis in May. In summary, the pandemic has had a bigger impact on business than what initially was predicted, however, confidence is growing slightly again and many businesses are realising that they will have to redefine their offer and adjust their sales and marketing efforts.

 

Professor Göran Roos presented a comprehensive view of the economic indicators before, during and what is predicted for the countries heavily impacted by the crisis. It was concluded that the debt to GDP ratio will increase as measurements to mitigate the economic impact of the crisis will take effect. The recovery path is broadly considered not to spike but to have a prolonged “NIKE” curve due to what is expected from business: reluctancy to take back staff, low level management will be removed altogether, social distancing measurements will continue to impact the service industry, increased digital activity will the office / real estate industry heavily, broad solvency issues which could lead to governments going in with debt against equity swap offers, possibly domestic industry development, increased frugality/consumer spend. What do we think will be the “New Normal”? Most definitely supply chain diversification promoting more regional and domestic buying, task automation in production, continued digital disruption of many services, declining globalisation, delayed “green switch’, China trying to reassert its participation (through increased acquisitions and IP assumptions) and accelerating its absorption of Hong Kong, Macau and Taiwan. Australia will continue to be sandwiched between the USA and China, WTO is continually marginalised and will continue to be without support from the US and China. Local manufacturing is on the rise and storage issues have certainly come to the forefront of the minds of government (Finnish example), increased appetite for government procurement and lastly the impact of the ownership of raw materials.

 

Mr Kieran Schneemann, Government Affairs Director AstraZeneca presented the different situation of infected individuals in Sweden vs Australia and said that in both countries the risk of a second wave of infections is severe. He also presented an extensive view of the Australian government response and its implication on our economy. In summary, what is predicted at this point in time is that the Australian government response will come at a cost of more than $300bn, over a three-year period. This is to be confirmed when the delayed budget will be presented on the 6th of October later this year. Kieran also presented the coming elections as it is important to understand how these critical political dates will impact the priorities of the different state and federal governments and thereby impact business. What we can assume at this stage is that, due to the increased domestic spend and stimulus packages to bring back economic activity, all governments will be asked to look at cuts in other areas. For example, climate change issues will most likely not be a key focus. We can also assume that there will be a lot of policies introduced to make the sitting government “look good” with an imminent election. We can also estimate that there will be a blow- out in the medical benefit scheme as the health budget has increased significantly and future patient support will likely be reduced.

The next SACC Executive Forum is planned to be held in person in Melbourne on 16 September.