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Executive Summary "Nordic INsourcing - Global OUTsourcing"

  • Publisert 03.03.2005
  • Sist oppdatert 20.05.2011

Frontpage report

Executive summary from the conference:
Global OUTsourcing – Nordic INsourcing
Copenhagen May 10-11, 2005

The executive summary is based on a paper elaborated by the Moderator, Mr. Samuel Rachlin. In short his conclusion can be summarized as follows:

Followers or leaders
Being a follower is not an option for a group of countries that have become accustomed to being considered as leaders in economic terms, social achievement, education, accumulation and implementation of knowledge and high-tech development.

Strengths of the region were emphazised – from the Nordic way of life and the fabric of culture to our infrastructure, political and economic stability, our highly educated workforce, industrial structure and innovative ability. Industrial clusters in bio-tech, ICT, pharmaceuticals and other sectors create an environment that is attracting capital and people from outside the region.

Close up or far away?
There is definitely no shortage of advantages, strengths and reasons for the Nordic region to maintain its leadership position and benefit from outsourcing and attracting foreign investments regionally.

Distance and neighbourhood do not really matter in the age of globalization. Distance is dead, borders are, to a large extent, non-existent, and whether the prefix is “out-“ or “in-“ they are part of the same process and forces and lead to the same benefits for the players at both ends. Several speakers as well as participants in the audience, pointed out that outsourcing is what merchants and businessmen always have done everywhere under different conditions and names, but driven by exactly the same motives – better and cheaper goods and services, efficiency and profitability. In that respect, there is nothing new under the sun except the speed and ease that the new technology and infrastructure has provided.

Don’t Worry, Don’t Panic !
Speakers like Tor Jacob Ramsøy and Peter Rasmussen admonished decision makers in the public and private sectors not to panic and understand that the majority of jobs in the economy cannot be outsourced, and that job creation will outpace offshoring by a wide margin. Ramsøy, furthermore, pointed out that as Europe is lagging in outsourcing compared to the U.S. European companies will be suffering under a significant competitive disadvantage until they catch up. The road ahead of us must be based on learning from the existing experience on outsourcing and then act in accordance with the accumulated knowledge and understanding of the importance of cost savings, improvement of quality and performance and innovation.

They need to act in a timely, strategic and coordinated manner to exploit their comparative advantages and realize that outsourcing despite pain and tears at the initial stage will benefit the national economy and the society in general.

A recipe for the Road Ahead
We should mobilize all our regional resources in developing our competences and expanding our knowledge by taking full advantage of the existing clusters and giving the highest priority to innovation through education and research.

Furthermore, “Invest in”-agencies are crucial actors in the process of attracting more Nordic insourcing, i.e. in-flow of foreign capital and know-how. Collaboration between the national agencies could be developed in order to brand the Nordic region as a whole. Embedded in this ambition is also the need for a further improvement of the investment climate.

Flexible labour markets are needed to ensure a smooth and efficient job turnover

The Nordic countries must unite behind the goals of the Lisbon agenda to reach the goal of Europe as the most competitive and knowledge-based economy in the world. 

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