{"id":10130,"date":"2017-07-24T07:54:45","date_gmt":"2017-07-24T07:54:45","guid":{"rendered":"https:\/\/blogs.transparent.com\/russian\/?p=10130"},"modified":"2017-07-28T15:39:13","modified_gmt":"2017-07-28T15:39:13","slug":"doing-business-in-russian-must-know-terms","status":"publish","type":"post","link":"https:\/\/blogs.transparent.com\/russian\/doing-business-in-russian-must-know-terms\/","title":{"rendered":"Doing Business in Russian: Must-Know Terms"},"content":{"rendered":"

Following the end of 75 years of socialism in 1991, Russia is still becoming accustomed to Western-style capitalism, both in its institutions and its culture. Russia\u2019s communist past makes some skeptical of its economic potential today, though it\u2019s for exactly this reason that many experts label numerous Russian companies as overlooked and undervalued<\/a> on the stock market. Furthermore, many American companies, such as JPMorgan & Chase, Pfizer and Ford have established a major presence<\/a> in Russia in the the form of partnerships with Russian companies and universities. With an economy still dominated by oil, gas and other natural resources, Russia has unveiled an ambitious plan to transition the economy<\/a> toward a focus on high-tech. Whatever your industry or profession, here are the most important words and concepts to know about doing business in Russia.<\/a><\/p>\n

\"business<\/p>\n

\u0411\u0438\u0437\u043d\u0435\u0441- Business<\/strong><\/h4>\n

While governmental regulations have historically made business a difficult endeavor in Russia, according to the World Bank the country\u2019s \u201cEase of Doing Business\u201d rank improved from the 124th position in 2012 to 40th in 2016.<\/p>\n

\u0420\u0430\u0437\u0432\u0438\u0442\u0438\u0435 \u0438 \u0440\u043e\u0441\u0442- Development and growth <\/strong><\/h4>\n

Russia was added to the G7 in 1997, signaling its place among the world\u2019s most powerful industrialized nations. From 2000 to date, the country’s GDP per capita (\u0412\u0412\u041f \u043d\u0430 \u0434\u0443<\/strong>\u0448\u0443 \u043d\u0430\u0441\u0435\u043b\u0435<\/strong>\u043d\u0438\u044f, literally \u201cGDP per soul of the population\u201d) has grown 700%, far outpacing all other BRIC countries, including China.<\/p>\n

\u0420\u044b\u043d\u043e\u043a (pl. \u0440\u044b\u043d\u043a\u0438)- Market <\/strong><\/h4>\n

In the Russian economy (\u044d\u043a\u043e\u043d\u043e<\/strong>\u043c\u0438\u043a\u0430), stocks (\u0430<\/strong>\u043a\u0446\u0438\u0438) are traded (\u0442\u043e\u0440\u0433\u043e\u0432\u0430<\/strong>\u0442\u044c) on the Moscow Exchange (\u041c\u043e\u0441\u043a\u043e<\/strong>\u0432\u0441\u043a\u0430\u044f \u0431\u0438<\/strong>\u0440\u0436\u0430), the Russian equivalent of the New York Stock Exchange (\u041d\u044c\u044e-\u0419\u043e<\/strong>\u0440\u043a\u0441\u043a\u0430\u044f \u0444\u043e\u043d\u0434\u043e<\/strong>\u0432\u0430\u044f \u0431\u0438<\/strong>\u0440\u0436\u0430). Like in the US, banks (\u0431\u0430<\/strong>\u043d\u043a\u0438) play an important role in trading, and markets are regulated by the Ministry of Finance (\u041c\u0438\u043d\u0438\u0441\u0442\u0435<\/strong>\u0440\u0441\u0442\u0432\u043e \u0444\u0438\u043d\u0430<\/strong>\u043d\u0441\u043e\u0432 \u0420\u043e\u0441\u0441\u0438<\/strong>\u0439\u0441\u043a\u043e\u0439 \u0424\u0435\u0434\u0435\u0440\u0430<\/strong>\u0446\u0438\u0438, or \u201c\u041c\u0438\u043d\u0444\u0438\u043d\u201d for short). In addition to stocks, one can buy options (o\u043f\u0446\u0438\u043e<\/strong>\u043d\u044b), futures (\u0444\u044c\u044e<\/strong>\u0447\u0435\u0440\u0441\u044b), or bonds (\u043e\u0431\u043b\u0438\u0433\u0430<\/strong>\u0446\u0438\u0438). Collectively, these are called \u201csecurities\u201d (\u0446\u0435<\/strong>\u043d\u043d\u044b\u0435 \u0431\u0443\u043c\u0430<\/strong>\u0433\u0438, literally \u201cvaluable paper\u201d).<\/p>\n

\u0428\u0435\u0444\/ \u0418\u0441\u043f\u043e\u043b\u043d\u0438\u0442\u0435\u043b\u044c\u043d\u044b\u0439 \u0434\u0438\u0440\u0435\u043a\u0442\u043e\u0440 – CEO<\/strong><\/h4>\n

Everyone knows that central authority is important to government in Russia, and business leadership is no different. Decisions are made by the \u201c\u0412\u0430<\/strong>\u0436\u043d\u0430\u044f \u043f\u0442\u0438<\/strong>\u0446\u0430\u201d, meaning the \u201cbig cheese\u201d (literally \u201cimportant chicken\u201d!)<\/p>\n

\u0421\u0432\u044f\u0437\u0438- Connections <\/strong><\/h4>\n

Personal relationships are important to business culture around the world. However, professional relationships are especially important to Russians, and can even take precedence over profit (\u043f\u0440\u0438<\/strong>\u0431\u044b\u043b\u044c); many a project manager has bemoaned the delay of a project and loss of money because his boss didn\u2019t \u201cfeel right\u201d about the person on the other side of the deal. Russians love to build business ties in a relaxing, casual way, such as by spending time together in the bathhouse (\u0431\u0430<\/strong>\u043d\u044f) or sauna (\u0441\u0430<\/strong>\u0443\u043d\u0430). Cordial relations can also be facilitated by the giving of gifts (\u043f\u043e\u0434\u0430<\/strong>\u0440\u043a\u0438). This emphasis on relationships developed during perestroika<\/em>, when economic struggles meant that personal networks (and the trust needed to maintain them) were central to survival.<\/p>\n

\u0422\u0435\u0445\u043d\u043e\u043b\u043e\u0433\u0438\u044f – Technology<\/strong><\/h4>\n

Russia has a strong tradition of innovation, having originated the radio (\u0440\u0430<\/strong>\u0434\u0438\u043e), the television (\u0442\u0435\u043b\u0435\u0432\u0438<\/strong>\u0437\u043e\u0440), the helicopter (\u0432\u0435\u0440\u0442\u043e\u043b\u0435<\/strong>\u0442), and, of course, the satellite (\u0441\u043f\u0443<\/strong>\u0442\u043d\u0438\u043a). Today, however, much of Russia\u2019s technological capability revolves around its many popular websites (\u0441\u0430<\/strong>\u0439\u0442\u044b); the search engine Yandex, the Facebook-esque social media site VKontakte, and the mail system Mail.ru are just a few of the most successful Russian sites. Furthermore, in the early 2010\u2019s, Russian surpassed German to become the second most common language on the internet<\/a> (\u0438\u043d\u0442\u0435\u0440\u043d\u0435<\/strong>\u0442). Other areas important Russia\u2019s tech sector are IT (\u0438\u043d\u0444\u043e\u0440\u043c\u0430\u0446\u0438\u043e<\/strong>\u043d\u043d\u044b\u0435 \u0442\u0435\u0445\u043d\u043e\u043b\u043e<\/strong>\u0433\u0438\u0438), energy (\u044d\u043d\u0435\u0440\u0433\u0438<\/strong>\u044f) and aerospace (\u043a\u043e\u0441\u043c\u043e\u043d\u0430<\/strong>\u0432\u0442\u0438\u043a\u0430).<\/p>\n

\u0433\u043e\u0441\u0443\u0434\u0430\u0440\u0441\u0442\u0432\u0435\u043d\u043d\u044b\u0435 \u043f\u0440\u0435\u0434\u043f\u0440\u0438\u044f\u0442\u0438\u044f \u2013 State-owned enterprises<\/strong><\/h4>\n

Many of Russia\u2019s largest companies (\u043a\u043e\u043c\u043f\u0430<\/strong>\u043d\u0438\u0438) are state-owned. These include the airline Aeroflot (A\u044d\u0440\u043e\u0444\u043b\u043e<\/strong>\u0442), the energy company Gazprom (\u0413\u0430\u0437\u043f\u0440\u043e<\/strong>\u043c), <\/strong>and the defense company Uralvagonzavod (\u0423\u0440\u0430\u043b\u0432\u0430\u0433\u043e\u043d\u0437\u0430\u0432\u043e<\/strong>\u0434, a combination of \u0423\u0440\u0430\u043b, where the company is located, \u0432\u0430\u0433\u043e<\/strong>\u043d, which is \u201ca train carriage\u201d, and \u0437\u0430\u0432\u043e<\/strong>\u0434, which means \u201cfactory\u201d).<\/p>\n

Bonus: Cognates galore! <\/strong><\/h4>\n

The introduction of a Western-style market system in Russia means that the language has adopted a number of business-related words from English:<\/p>\n

\u041c\u0430<\/strong>\u0440\u043a\u0435<\/strong>\u0442\u0438\u043d\u0433- Marketing<\/p>\n

\u0411\u044e\u0434\u0436\u0435<\/strong>\u0442- Budget<\/p>\n

\u0411\u0438\u0437\u043d\u0435\u0441\u043c\u0435<\/strong>\u043d- Businessman<\/p>\n

\u041e<\/strong>\u0444\u0438\u0441- Office (Note that these aren’t exactly the same<\/a>.)<\/p>\n

\u0414\u0438\u0440\u0435<\/strong>\u043a\u0442\u043e\u0440- Director<\/p>\n

\u041a\u0440\u0435\u0434\u0438<\/strong>\u0442- Credit<\/p>\n

\u041a\u0430\u043f\u0438\u0442\u0430\u043b\u0438<\/strong>\u0437\u043c- Capitalism<\/p>\n

\u041a\u0430\u043f\u0438\u0442\u0430<\/strong>\u043b- Capital<\/p>\n

\u041c\u0435\u043d\u0435\u0434\u0436\u0435<\/strong>\u0440- Manager<\/p>\n

 <\/p>\n

Guest Post by Patrick Goodridge<\/strong>, a native of Philadelphia, Pennsylvania. He recently graduated from the University of Pennsylvania, where he studied linguistics, focusing on the Russian language. This summer, he will study Kazakh at the University of Wisconsin-Madison on a US State Department Title VIII grant. He will then enter Stanford for a one-year MA program in Russian, East European, and Eurasian Studies, with funding from the Department of Education FLAS program. In his free time, Pat likes to play chess, learn languages, and watch his favorite sport, lacrosse. You can connect with him on\u00a0LinkedIn<\/a>, where he is very active and open to research collaboration.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"\"business

Following the end of 75 years of socialism in 1991, Russia is still becoming accustomed to Western-style capitalism, both in its institutions and its culture. Russia\u2019s communist past makes some skeptical of its economic potential today, though it\u2019s for exactly this reason that many experts label numerous Russian companies as overlooked and undervalued on the…<\/p>\n

Continue Reading<\/a><\/p>","protected":false},"author":1,"featured_media":10137,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":""},"categories":[8],"tags":[],"class_list":["post-10130","post","type-post","status-publish","has-post-thumbnail","hentry","category-language"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/posts\/10130","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/comments?post=10130"}],"version-history":[{"count":12,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/posts\/10130\/revisions"}],"predecessor-version":[{"id":10172,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/posts\/10130\/revisions\/10172"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/media\/10137"}],"wp:attachment":[{"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/media?parent=10130"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/categories?post=10130"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blogs.transparent.com\/russian\/wp-json\/wp\/v2\/tags?post=10130"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}