The Lexus and the Olive Tree Exercise
In 2006 Denmark took over the top spot from the U.S. as the number one leader for integrating technology in businesses, available infrastructure, and favorable government policies for fostering a culture of innovation, progress and leadership in promoting usage of the latest information technology. Since 2006, Denmark has ranked within the top 3 countries that has continued to push innovation within its economy according to World Economic Forum and the Network Readiness Index (NRI).
Another bright spot for Denmark is its ability to promote a strong educational foundation that has allowed for effective harvesting of knowledge within ...view middle of the document...
Many foreign companies establish satellite divisions in areas like Medicon valley to gain a share of cutting edge practices and research competencies in areas such as robotics for healthcare.
For the third consecutive year, Forbes has named Denmark as the best country to conduct business in. Based on the World Economic Forum, Denmark remains within the top 10 on competitiveness and production of world class good. Although the country’s GDP is –4.7% due to the global recession which is in-line with the top ten ranked countries, its trade balance as a percent of GDP is a positive 2.9% as compared to most other countries that is negative. The country is praised for investing in research and development and for maintaining a strong cooperation between universities and private industries. Denmark is also at the forefront of producing the most patents for new products per capita. Forbes has also ranked Denmark #1 in categories such as lowest corruption and highest property rights protection. Based on reports provided by World Bank Doing Business 2010 report, regulation of business is a top priority. There is no unnecessary bureaucracy or red tape when companies are doing business in Denmark. Moreover, the country is an international front runner with highly effective ERP systems in place that has created an environment of efficiency and productivity in business day-to-day activities throughout the country.
Although the global recession has had a significant impact on the economy of many countries, Singapore has continued to exhibit their ability to tighten the Golden Straight Jacket. Based on data obtained from Forbes and Trading Economics, Singapore’s Balance of Trade as a percent of its GDP is 14.3% which ranks second to Norway on the top 10 list of Forbes best countries to do business. The country maintains a trade surplus with its main trading partners such as Malaysia, European Union, the U.S. and China. Singapore continues to exhibit its openness to foreign investment. Recently, Shell (UK) opened a $3 billion petrochemical complex which is Shell’s largest-ever petrochemical investment, and is expected to create a new wave of high-value downstream chemical investments in Singapore.
The recent issuance of to new bank licenses to The State Bank of India in 2008 and ICICI Bank in March 2010 by Singapore’s Government to allow foreign banks to compete in retail banking and financial services is another...