The starkly
contrasting outcomes of bids by two major Danish companies
to hit it big in Russia could offer a lesson to investors
hoping to succeed in a country that, despite its currently sluggish
economy, is widely regarded as one of the most promising consumer markets
in the world.
Success ultimately
depends on three factors: a company's financial backbone, willingness
to succeed, and patience, said the businessmen from Lego
and Jysk. Time, they said, is important because an investment
in Russia may not pay off as fast as in other markets.
Investors also should
avoid applying their business model on a one-to-one scale from the
European market to the Russian market, said Mette Baerbach Bas,
a Danish author who studies Russian business culture. The mechanisms
and structure of society can make cultural awareness
a significant factor when outlining your Russian business strategy.
