Multi-cultural entrepreneurial ventures in the former Soviet Union: case studies of Finnish and US approaches in Russia, Ukraine and the Baltics

We present a comparative three-way study on how the characteristics of entrepreneurs and managers, as determined by their national and cultural backgrounds, influence joint entrepreneurial ventures between widely different countries: USA-Eastern Europe, versus Finland-Eastern Europe. Specifically, we describe and analyse the approach of Finnish companies in Russia and the Baltics, based on three case studies, and compare it to the approach of a US new venture in Ukraine. We discuss the impact of multi-cultural differences on the organisational evolution of the joint ventures, including market direction, structure, development of corporate standards, equity sharing, and patterns of cooperation and tension between partners. We summarise the lessons learned in the field that may be useful to Western government officials, managers, and especially entrepreneurs planning to set up joint ventures in Russia, Ukraine, and the Baltics.