Russia as a business destination. - Essay Example

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Russia as a business destination.

Furthermore, foreigners would heighten their chances of success by working with local partners who would guide them there. Labor costs largely depend upon the region under consideration and western style hotels cost much more than they do in the US. Possible areas of business include oil related services or products, consumer products and the IT sector.
There are a number of misconceptions about Russia as a business destination. Some people believe that conducting business in Russia is an all too easy process and that all it takes are some good connections or simply meeting with the right people. On the other hand, others believe that in Russia, it is almost impossible to do business and that enterprises are not governed by the basic principles of economics. While these latter assertions might have some validity in certain respects, it is essential to understand that they do not represent the business climate, market opportunities or entry strategies required to make it in Russia.
Russia as a business destination requires its own set of rules. One needs to be ready to do business in an unconventional way. Additionally, one should be ready for the disparities that occur across various sectors and also across a number of geographical areas. In Russia, some areas are oversupplied while others are undersupplied. ...Show more

Summary

The paper is an analysis of Russia as a business destination. In terms of its people, Russians have different cultures from their American counterparts especially with regard to their perspective on business contracts; however, this can be overcome through adequate mental preparation…
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