"Don'ts" and "Do's": Insights from Experience in Mitigating Risks of Western Investors in Post-Communist Countries

Cultural and other misunderstandings between westerners and locals in post-communist countries are very costly, and western investors grossly underestimate how damaging ineffective interaction really is. This article shows that such interaction constitutes a major stumbling block to effective risk management and stands in the way of the enterprise fully taking advantage of opportunities for profit in these product-hungry, fast-expanding, and dynamic economies. Ultimately, effective communication between westerners and locals is the necessary condition for the success of western investments in transition countries.

Five Questions for Paul Lawrence and Nitin Nohria

Driven: How Human Nature Shapes Organizations

Exclusive! In this first look at a new book, HBS professors Paul Lawrence and Nitin Nohria explore how human nature shapes business organizations. Does your organization reflect the four basic human drives? Plus: Q&A.