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 24.11.08Alinga Consulting Group Holds Insightful Panel on Russian Business
November 19, Moscow – A business breakfast panel discussion organized by Alinga Consulting Group recently took place at the Hilton Leningradskaya Hotel. Three panels of experts and veterans of business in Russia shared their diverse experiences and outlooks on doing business in Russia in the face of global uncertainty with emphasis on comparing the 1998 and 2008 financial crises. Nearly 40 people, including entrepreneurs, foreign heads of subsidiary offices, and other interested parties participated in the interactive discussion.
The second panel, moderated by Alinga’s managing partner – Chet Bowling, discussed the benefits and risks of downsizing and outsourcing. Mr. Bowling outlined various factors to consider when a company seeks to outsource key business support functions. Alexei Spirikhin of Alinga's audit department, and Anna Barysheva, Alinga's head legal council, supplemented this with a discussion of how to stay legally compliant and minimize the costs of staff reduction and company liquidation, should such steps be needed.
A lively question & answer sessions followed each of the seminar panels. Amongst other points of contention, the hottest topic of debate was whether to be optimistic or pessimistic about Russia’s economy. Great arguments were made by both sides.
The presentations included the following powerpoints:
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The first panel focused on the general short-term outlook of the Russian business environment, and appropriate responses that could be taken by a business's country manager. Richard Hainsworth of RusRating was optimistic in his predictions concerning a possible rebound of the Russian economy, arguing that Russia’s economy today is far stronger than it was in 1998, and the government has acted quickly to provide aid to businesses. Meanwhile, Dr. Vladimir Ismailov of the AEB Finance and Investment Committee was more reserved; advising the audience to stay prepared for the worst, and take advantage of opportunities in a bear market. Philip Gillen – a partner at Alinga, suggested that country managers should be proactive in terms of business planning and development, and act more independently from the head office.
At the final panel, two well-known American entrepreneurs on the Russian market – Teri Lindeberg of Staffwell and John Rose of Rose Creative Strategies – discussed their personal experiences during both the 1998 and 2008 financial crises in Russia, and what they are doing to succeed and prosper in an unfavorable market environment. This panel also provided excellent contrasting views of businesses operating in "crisis mode" in Russia. Ms. Lindeberg, for instance, described “vultures,” such as those she often encountered during the ’98 crisis, who preyed upon the markets and clients of smaller businesses, and felt such negative business practices might occur again. However, Mr. Rose strongly advocated using the situation to strengthen one’s business, even by aggressively taking over the clients of other firms, arguing that the weaker firms might not survive in any case.
Alinga Consulting Group is a full-service business support organization, which provides accounting, auditing, legal, and HR related services to companies worldwide who invest in Russia. For more information on this or other Alinga Seminars, contact Honga Jiang at |
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