Published by:
Harvard Business Publishing
Length: 7 pages
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Abstract
Contrary to reports of failure, dozens of joint ventures between Russia and the West are prospering. There are obstacles to investing in Russia, but successful joint ventures turn them into growth opportunities. Interviews with the Russian heads of 33 Western-Russia joint ventures revealed three keys to doing business in Russia. First, many joint ventures seek out local managers from the highly skilled Russian workforce and put them in charge. Second, successful joint ventures sell the finest goods and services they can produce. Finally, seemingly intractable problems can often be turned into excuses for expansion. The combination of perennial shortages, pent-up demand, and prodigious resources presents a unique business opportunity for Westerners.
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Abstract
Contrary to reports of failure, dozens of joint ventures between Russia and the West are prospering. There are obstacles to investing in Russia, but successful joint ventures turn them into growth opportunities. Interviews with the Russian heads of 33 Western-Russia joint ventures revealed three keys to doing business in Russia. First, many joint ventures seek out local managers from the highly skilled Russian workforce and put them in charge. Second, successful joint ventures sell the finest goods and services they can produce. Finally, seemingly intractable problems can often be turned into excuses for expansion. The combination of perennial shortages, pent-up demand, and prodigious resources presents a unique business opportunity for Westerners.