June 2009 Vol. 8 - Issue 6

Inside This Issue

  1. Fact of the Month
  2. Feature of the Month: Denmark
  3. From the globalEDGE blog
  4. Featured Resources
  5. Featured Academy
  6. globalEDGE Business Review
  7. Newsletter Information


Denmark covers 16,640 square miles. Greenland covers 836,109 square miles. Following a decisive vote, Greenland will become a separate country within the Kingdom of Denmark on June 21, 2009, thus shrinking the landmass controlled by Denmark by 98%.

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Formerly home to Viking raiders, the tiny nation of Denmark has now become a prosperous nation committed to the political and economic well-being of the European Union, of which it has been a long-time member. Similar to many other member nations of the European Union, Denmark is a constitutional monarchy with a parliamentary system of government. Although Denmark is lacking in natural resources, it makes up for this with robust workforce. Denmark's manufacturing sector comprises a large amount of its employment and economy along with foreign trade, and produces primarily machinery and instruments and food products, of which Denmark imports the raw materials for. Additionally, Denmark generates all of its own energy. Denmark employs a free market capitalist economy coupled with a large welfare state. The unique composition of Denmark's economy has led to it having one of the world's highest levels of income equality, according the Gini coefficient. Furthermore, Denmark ranks as a low-risk country, as it was ranked as the second most peaceful country in the world in 2008, as well as being the world's least corrupt, according the Corruption Perceptions Index. In 2008, Denmark was the first European country to slip into recession due to lack of consumption caused by shaken consumer confidence in both the Danish and world markets. Although the finance slowdown will continue in 2009, Denmark is primed for recovery, as it topped the list of countries best equipped to navigate the current economic downturn and increase their competitiveness in the near future. The resilience of its businesses and government, long-established stability of its society, and the fact that smaller economies are better able to adapt and rebound in tough times all are contributing factors to the ranking.

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Denmark's Turbines Could Blow Winds of Change to Energy Industry

To many nations, having numerous fields of wind turbines seems like a far-off green dream. Denmark, however, has made it into a reality. The Danes are now essentially energy independent, and wind power plays a major role. In 2007, wind power provided nearly 20 percent of the nation's electricity production and 24 percent of its capacity; proportions nearly double that of the next highest country. The Danish company Vestas has emerged as the top manufacturer in the world of these wind turbines, which are in high demand. Executive Erik Therkelsen says, "If we can make a turbine, it's sold." So what does this mean for the energy industry?

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Doing Business in Denmark

Put forth by the U.S. Commercial Service, this site provides a wide variety of information for the international businessperson. The site provides information about Danish Business Culture and holidays, finding a business partner, company promotion, business service providers, and travel information, as well as Country Commercial Guide available as a PDF.

Danish Exporters

Denmark's official export directory contains information about 8000 Danish companies. The site includes news, embassies, business and investment guides. The site also provides an in-depth search mechanism to locate companies on the site more easily.

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The Ethics module gives one insight into the following areas: the definition of ethics; the importance of ethics in business; how religion relates to ethics in the marketplace; the main tenets of, and ethical behavior in, the world's religions; the ideals and obstacles of ethical behavior in different market settings; broad ethical themes governing how people should behave in the marketplace; the definition and qualities of an ethical manager. A case study on ethics and downsizing is also provided.
Category: Online Course Modules

Swedish: Introduction to Swedish

Presented by the Stockholm School of Economics, this website not only provides introductory lessons in basic to intermediate Swedish, but also provides users with useful audio files, language comparisons, and helpful historical and cultural context to help one better understand the language. The website is designed for users with no prior knowledge of Swedish, and provides useful vocabulary as well as explains the basic grammatical structure of the language.
Focus: Business Law, Economics, International Business
Category: Business Language Guides

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"Microfinance: The Journey from Non-Profits to Major Financial Institutions" by Paulette L. Stenzel

The microfinance industry began through individuals and non-profit organizations that wanted to help the poor obtain loans for microenterprises. Today microfinance is a growing industry returning profits to investors and offering basic financial services to the poor. Since its inception, microfinance has expanded and matured in its global reach, legal structures, and product diversity. The sustainability of the industry illustrates that programs designed to promote social equity can evolve into viable business models.

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