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Russian Business. Since the Soviet Union's collapse in 1991, Russia has striven
to implement a market economy and achieve consistent economic growth. ...
... 2. 3 M should do business in Russia but not meddle in Russian culture. ... Also, the
corruption is the personality of Russian business environment. ...
... on Putin for the degradation of Russian democracy but believes that the task of
reinvigorating Russian pluralism lies in the hands of Russian business leaders. ...
... Most Russian business dealings are based on strong personal relationships,
with the contract considered to be merely a formality. ...
... There are many aspects of the Russian business environment that must be taken into
account when pursuing international business interests in this particular ...
Submitted by nlampe01 on March 10, 2008
Category: Business
Words: 835 | Pages: 4
Views: 79
Popularity Rank: 101,932
Average Member Grade: N/A (Add a Comment / Grade this Paper)
Since the Soviet Union's collapse in 1991, Russia has striven to implement a market economy and achieve consistent economic growth. Russia has a lot to offer foreign investors. The world's largest country has a fast rate of growth in its gross domestic product, a large population of over 150 million people, and a substantial expansion purchasing power. High oil prices, foreign investment, and political stability have helped Russia attain economic growth. Since 1998, Russia has sustained an average annual growth of 6.7%. The majority of Russia's exports include oil, natural gas, metals, and timber. "Russia has the world's largest natural gas reserves, the second largest coal reserves and the eighth largest oil reserves. It is the world's leading natural gas exporter and the second leading oil exporter (Bush, Jason)." A large growth in productivity, real wages, and consumption has played a large role in its growth. Russia contains a skilled work force consisting of women and minorities. Although Russia has been steadily on the rise, its dynamic, unique, challenging, and sometimes uncertain business environment has caused problems for many foreign companies. These factors have made many associate risk, rather than opportunity, with Russia. Based on interviews with executives from 36 foreign companies operating in Russia, eight commandments have been formed to help Western companies prosper. These commandments were formed to help entrepreneurs avoid mistakes that many foreign companies have previously experienced while trying to expand to Russia.
The first commandment states that companies should practice an authoritative, but not authoritarian leadership style. "This authoritative leadership occurs when a strong and highly-involved executive leads from authority gained from the followers by virtue of competence possessed rather than just through the power of the position (Fey and Shekshnia)."Choosing a leader with an appropriate leadership style is critical...
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