Made it in Russia
Since the disintegration of
the Soviet Union and following collapse of the Russian economy, Russia
has found a new source of power: its own natural resources. The country
is now re-emerging, but as an energy superpower.
However, Russia's unique history and education have created opportunities for entrepreneurs to bring Western consumerism and to apply the talents of Russia's highly educated population. There are particular opportunities for servicing:
- the mining and minerals industries, and
- Russia's huge nouveau riche.
However, Russia seems stifled by corruption, the breakdown in the rule of law, poor protection of intellectual property rights, and the increasing emergence of nationalism.
As well-established businesses can attest, the country is an extremely difficult place to do business. Russia is a proud country with a proud tradition, and increasing nationalistic fervor aggravated by what appears to be a domestic downgrade in the importance of international relations are making business harder.
For businesses without experience of the country, there are a whole range of new cultural, political, legal, and economic challenges to be faced, and equally, there are also many myths that need to be addressed.
Beyond manufacturing and hi-tech, there is a lot to be learned from the Russian way of doing business (for instance, relationships with authorities and organized crime).
Who Should Read This Book?
If you're in business—or are interested in business in any of the leading centers around the world—you should read this. However, the book will be of particular interest to business people and students whose interest is:
- Luxury goods that may appeal to Russia's newly emerging super rich.
- Mining, oil, and related industries including the infrastructure supporting these industries (such as construction, engineers, architects, and surveyors).
- Addressing "Russian Nationalism". There is a perception of Russia as a lost cause by many businesses in the West. The book looks at both sides of the issue and is an excellent primer for anyone looking for a more balanced view of what works as well as what is difficult about business in Russia.
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