Practitioners' 'Dos' and 'Don'ts' for Mitigating Risks of Western Investments in Post-communist Countries.

Western investors and managers are all too often unaware that they exacerbate their distinctive investment risks in post-communist countries by failing to interact effectively with local counterparts. These risks are compounded by deeply rooted misconceptions about how to interact with locals in a manner that will both motivate and enable them to offer their deep know how on grasping opportunities and minimizing risks. Drawing on our long experiene in conducting business and research in these countreis, we demonstrate that effective interaction constitutes a major value-adding resource as well as a potent risk-mitigator. Furthermore, we articulate a distinctive mindset and a comprehensive management model for establishing and sustaining this interaction. [ABSTRACT FROM AUTHOR]