AN ENTREPRENEUR′S GUIDE TO EASTERN EUROPE

Most entrepreneurs from North America and western Europe assume that opening up business relationships and contracts in eastern Europe will be a simple process. There is strong consumer demand, willing governments and a sense of desperation in a few cases. Entrepreneurs also assume that the same principle of business and management will apply equally well in Eastern Europe as in the West – after all, do not the Eastern Europeans want to learn our superior and advanced ways? The experience of consultants and academics who have studied these countries clearly indicates that business practice, business culture, business values, management styles, processes and institutions are dramatically different. This has resulted in some very disappointing experiences for Westerners. There is, however, a series of basic principles to follow based on years of experience, evaluation and study; following these will greatly enhance the probability of entrepreneurial success in business in eastern Europe.