What are the business practices in Russia?

What are the business practices in Russia?

Business Culture

  • You should make appointments well in advance and arrive punctually.
  • Engage in a long period of socialisation before beginning to discuss business.
  • Be patient and expect meetings to run for a longer duration than scheduled.

What type of culture does Russia have?

Russian culture has a long and rich cultural history, steeped in literature, ballet, painting and classical music. While outsiders may see the country as drab, Russia has a very visual cultural past, from its colorful folk costumes to its ornate religious symbols.

What is Russia known for in business?

Russia has an abundance of petroleum, natural gas and precious metals, which make up a major share of Russia’s exports. As of 2012 the oil-and-gas sector accounted for 16% of the GDP, 52% of federal budget revenues and over 70% of total exports.

What are 5 different cultures in Russia?

Though most people are Slavic, many others have Turkic and Mongol heritage. Tatars, Ukrainians, Bashkirs, Chuvash and Chechens are some of the biggest ethnic minorities. Many people from minority groups continue to hold their ethnic identity and cultural traditions close.

Do and don’ts of doing business in Russia?

Dos and don’ts of business in Russia

  • Do print business cards in Russian on one side and English on the other.
  • Do respect silences.
  • Do be punctual, and don’t take offence if Russian counterparts are not as timely.
  • Don’t give too many concessions when it comes to negotiations.

How many cultures are in Russia?

Russia is home to as many as 190 different ethnic groups, making it one of the most diverse countries in the world. Around 20% of the population is comprised of ethnic minorities. There are many indigenous ethnic groups scattered across the country.

What is Russian work culture like?

The prevailing work culture in Russia is to be very hard-working. Many Russians do not stop working at the weekend and a few even work during holidays. There are some difficulties when working or doing business in Russia. First and foremost, the rule of law does not always apply in this country.

How do you greet business people in Russia?

Greetings. – For greetings – shake hands firmly and maintain direct eye contact. Avoid shaking hands and giving things across a threshold a house or room. It is best to cross the threshold completely before shaking a host’s hand when arriving and leaving.

Why do Russians tap their neck?

“To this day Russians, and those who drink with Russians, tap their necks to indicate that they are drunk or someone else is drunk or that drinking is about to happen,” explained a smiling Polina, a young college student.