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Accepting more flaws on our way to growth

Chairman of the Board of Swedish bank SEB, Marcus Wallenberg was the key note speaker at PA Consulting Group’s Executive Seminar on 2 May 2012. His main focus was the future outlook for the Nordic countries.

Think long-term

“The Nordics are still among the world’s most competitive countries; however, we are facing a number of challenges, not just now but, more importantly, within the next decades. We have become used to a far too comfortable life, and that is a threat to our competitiveness and our growth opportunities,” said Marcus Wallenberg.

“For too long we have been focusing on the American and the Anglo-Saxon business model. We need to pay more attention to the ambition that appears in Asian economies. They work much more long-term both economically and technologically, and that should inspire us. Previously, when I spoke with leading politicians they would say that the Nordics were world champions; however, that point of view is long gone. Everybody acknowledges that we may not be the best, and that is the most important prerequisite for positive change: Changing our way of thinking,” said Marcus Wallenberg.

PA: Changing working environment

His viewpoint was supported by Mats Alerius, PA Consulting Group, who also spoke at the seminar. Mr Alerius emphasised the changing character of the working environment.

“The US now has more online students than students who meet physically. E-books have taken over printed books, and social media is  the place to be. We need to consider different business models and create flexibility in our market approach. Only by doing this we will succeed in increasing our Nordic competitiveness,” said Mats Alerius.

Besides being Chairman of the Board of SEB, Marcus Wallenberg chairs companies such as Electrolux, Saab and LKAB.

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