Doing Business in Russia ― A Concise Guide

The book discusses the business environment, opportunities, challenges, strategic approaches and managerial applications for doing business in Russia. It is designated for entrepreneurs and students, particularly those involved in executive MBA programs, interested in exploring Russia. Over two and a half decades following the dissolution of the U.S.S.R. Russia has become a premier global market for consumer and industrial goods and services. The country, richly endowed in mineral resources, has positioned itself as top global producer and supplier of energy, some other commodities and military hardware. Fueled by petrodollars, Russia has a large economy (world’s 7th largest GDP, purchasing power parity) and population (world’s 10th largest). Oligarchs apart, Russia has a sizeable middle class enjoying significant and rising spending power superior to that of many neighboring countries in the region: according to recent estimates, by 2018 Russia’s middle class will reach 20-26 million people to comprise 16-20% of the total population. The book analyzes the Russian middle class, trends in its life styles, drivers and marketing applications. Still an emerging player in many ways, Russia is a market that globally minded corporations and entrepreneurs cannot afford to ignore. While potentially attractive, the Russian market is competitive and difficult, requiring careful strategies, contingency planning, and relationship-based approaches in preparation and execution. With that, special sections of the book are dedicated to Russian small business and entrepreneurship, business culture as applies to communications, negotiations, and marketing. The book offers insights and discusses the dynamics of the most important economic sectors and regions, and provides sources of information and assistance, as well as several problem solving and skill development exercises tailored to doing business in Russia.