Opportunities in Russia: Internationalization of Danish and Austrian Businesses

Danish businesses appear to be less active in the emerging Russian market than those from other small economies in Western Europe. Therefore, this study surveys Danish and Austrian firms to compare their business activities in Russia, and factors in the home environment that may impact on this business. The results show that Danish firms can draw upon less Russia-specific human capital and
fewer expanding business networks. In particular, Managers have less experience ‘on the ground’, and Russian language skills are less developed in Denmark. The study points to the importance of experiential knowledge in the internationalization process, not only for firms but for national economies. Policy to support East-West business may thus focus on the acceleration on partner-country specific learning processes.