Managing Relationships in Transition Economies

Book excerpt: The transition from socialist or communist economy to market economy in many countries has been dramatic, unpredictable, and mostly on the surface, observable in new consumption patterns or higher standards of living. But deeper change in the managerial mindset in these new market economies has been much slower and less evident. It is crucial to business success for foreign managers to understand their transition economy counterparts. This book examines the interactions that foreign and transition economy managers have in building business relationships, the influences behind those interactions, how the interactions themselves change over time, and how to manage the process of building relationships more smoothly.