Cultural Issues and Business in the Russian Federation Research Paper

Cultural Issues and Business in the Russian Federation - Research Paper Example In terms of social protocol, there are not many differences between Russian culture and Western culture. However, specific cuisine and the custom of first-time meeting and gift exchange is common. For instance, if an individual business associate is invited to the home of another, it is expected that they should bring a gift, either for the family as a whole or at the very least – for children that might be exhibited within the household. As far as taboos, it is expected that individuals will remove their shoes once entering someone else’s place of residence. Traditionally, male and female interactions do not differ greatly as compared to other Western European nations and gestures and body language remains ultimately the same as well. Furthermore, with respect to the monetary system, the Russian Federation, as well as the Soviet Union before it, has operated on the monetary unit of the rubble for centuries. The rule, of course, fluctuates with respect to its overall strength against the dollar; however, at the current time, the ruble is approximately 29:1 USD. Compared to the United States, wages paid to workers are of course quite low. For instance, the average salary within the Russian Federation per year does not yet approach $20,000. The greatest expense with respect to doing business has to do with the long wait times and difficult to navigate bureaucracy defined so much of the Russian Federation. For instance, many firms have found themselves waiting up to one year for a permit as simple as gaining access to existing public water.