Russia And International Business
...markets. There are many aspects of the Russian business environment that must be taken into account when pursuing international business interests in this particular country. This report will first look at many of the important cultural factors such as the importance of effective communication, features of the country’s high-context culture and methods of handling business concerns and issues. This report will also address Russia’s current state of trade by discussing the country’s trade of goods and services as well as its entrance into the World Trade Organization. Additionally, the report will discuss the effect of Russia’s investment policies and what sectors of the Russian economy have had significant foreign investment. Next, the topic of Russian politics will be addressed by examining the organization of Russia’s political system as well as its main political developments. Finally, the report will study some of Russia’s laws that foreign investors must become familiar with before doing any business in the country.
Russian Culture
To successfully operate overseas it is very important to become familiar with the culture of the target country, in this case, Russia. Misunderstanding of cultural features can ruin not only a single business transaction, but an entire business operation.
Communication plays a vital role when conducting business internationally. By improving ones ability to communicate effectively across different cultures, one can learn to recognize any cultural differences and try to overcome any ethnocentrism. Experiencing difficulties when trying to understand cultural differences is a common problem, particularly for low-context cultures (Brean, 2007). According to research studies, people that are brought up in individualist cultures such as North America are less able to imagine the world from someone else's perspective than those who...
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