Предприниматель | Информационно-аналитический журнал - Part 58

Ex-pats in Ukraine: the pros and cons

Yuriy Atanasov, CEO of the holding “Centravis” of typical mistakes in hiring expats, their strengths and priority of teamwork.

Immediately answer the question: Yes, an international team can be effective in the management of the Ukrainian company. Another thing is that for some businesses this team is like a luxury car: for the image to have a pretty good, but on our roads makes sense to go for something simpler.

For me, it is abundantly clear that the global business development – is a stable trend, which involves including local companies. Even while remaining a local, any company is increasingly experiencing competition from international agents, or involved in an international project through close interaction with their customers. In any case, an expat – this is a good support for a team that strives to reach an international level of management. Attracting foreign expert significantly accelerates the development team. Moreover, this HR-reception should be a way to not only address specific short-term goals of the company, but to pursue a global goal: to actively develop the capacity of the whole team.

The presence of expat tops – is a strong factor in building a positive company image in the eyes of foreign partners. But the bottom line, of course, not individual stars on a gray sky. The impression will be much stronger if the external observer sees a balanced team, feels like she interacts effectively, providing a stable result.

Foreign experts have an obvious advantage over managers who have learned the native style of management. Expatriates are building a business on the Western model, which is based on principles such as the promotion of local initiatives, a clear delineation of responsibilities, feedback from subordinates. But after some time, and the company has already created the appropriate corporate culture that generates its own distinct candidates for the top position among the key leaders of the average.

Today Centravis sells seamless stainless steel pipe in 70 countries. This does not mean that our team has come from each region. But I know that, if necessary strategic decision to market such as Germany, I must draw to consult the German. Moreover, for the expertise we can draw more than one or two expatriates, and to organize the discussion by inviting foreign experts 5.10, each of which has its own point of view. When there is expertise, which consists of the views of managers, to work in different countries, the risk of a decision, which would run counter to the culture and practices of the target market is much lower.

From his personal experience of communication with foreign experts, I want to note their greater openness to new knowledge and experience.

I have long paid attention to one interesting feature: the larger is the professional manager, the more it is open to new knowledge, does not hesitate to ask questions and to show respect for the expertise of colleagues. This quality is often not enough local managers.

Among the cons – “Lost in Translation.” Obviously, this is the main obstacle to the formation of international teams. On the other hand, the presence of foreigners in the team as nothing more than stimulate the increase language proficiency of other employees.

I want to mention two typical mistake made by the Ukrainian enterprises, attracting foreign experts. First of all, no work experience, education and certifications are not one hundred percent guarantee that this specialist will really benefit the company. An unfortunate fact is that many ex-pats with good diplomas, but with poor results are ready to accept work in the Ukraine because they can not find anything suitable at home.

Second, high-quality expert, imported from abroad – is the possibility of development, which still need to be able to properly use it. And if it should be, for example, in charge of sales in Ukraine, consider that you have missed this opportunity. Everyone should be in place and the place of an alien – is a strategic questions (if top), or foreign markets or foreign customers in the domestic market. Rash to expect from an American manager, not speaking in Russian, a rapid effect in the management of our production.

I propose to treat foreigners as experts, bearers of knowledge, working in specific markets. In all other Ukrainians and foreigners – are the same managers. The only question of competence, the ability to correctly solve the problem.

In fact, in the end there is only one criterion for assessing the success of integration in the expat team – this is his reputation among his colleagues. Just being authoritative manager will be a leader and lead the changes his team ahead.

Top 10 richest Ukrainian expats

A list of the most successful Ukrainian expats contains 21 Americans, 5 Brits, 3 Germans. First place in the ranking is the owner of the newspaper that and spent the study Mohammad Zahoor, whose fortune, variously estimated between $ 500 million to $ 1 billion group of companies ISTIL Group, owned by Mohammed previously had a majority of its assets in metallurgy, and with the onset of the crisis the company more concentrated its activities in real estate and media business.

Second place goes to Tomas Fiala, Director General of the IR Dragon Capital. His fortune is estimated at $ 100 million, Tomas was born in the Czech Republic in Brno, while still young in 1996, he came to Ukraine at the age of 22 years.

Third place went to an ethnic Ukrainian born in Poland Bogdan Batruh, worth an estimated $ 83 million, is engaged in kinodistributsiey. Bogdan Batruh controls a network of cinemas “Movie Palace” across the Ukraine (15 cinemas).

  1. Michael Don and Benny Golani, the U.S. share a common condition in the $ 46 million are engaged in the restaurant business, owns the restaurant chain “World Map”, about 30 institutions.
  2. David and Daniel Svir, the U.S. accumulated $ 31 million for two. Are the owners of the agro-industrial group “Kyiv-Atlantic Group”.
  3. Joan Boden and Carl Sturen, Sweden also have a double, $ 26 million specialize in nutrition, in 1995 attracted investments and founded the company Chumak, which currently is one of the major producers of power in Ukraine.
  4. Jerzy Konik, Poland managed to save $ 24 million, began his career with a business in Ukraine, was committed to selling the flowers of many colors. In 2003, built a plant for the production of contraceptives (brand Perfekt) in Lviv region, for the moment the brand is 20% of the Ukrainian market. Should build another plant, also in the Lviv region, but the retreading truck called Euromeister for $ 2.5 million
  5. Robert Koenig and Falk Nebiger, USA and Germany. Have a $ 23 million in ya two. Own network of fast-food Mr.Snack. Also, are the owners of 15 shops of clothes, which are the brands of companies Richemont Group: Alfred Dunhill, Montblanc, Roger Dubuis, Tiffany, Van Cleef & Arpels.
  6. Jed Sunden, the U.S. earned $ 16.5 million Founded Media Holding KP Media, which in turn holds weekly “Reporter” news site Korrespondent.net. and Internet portal Bigmir.net.
  7. Joseph Lemire, USA. The assets of Joseph according to different estimates $ 12-15 million, owns real estate and media resources. Owns radio Gala Radio.

Eray Tour travel company left the Ukrainian market, unseasoned competition

Other market players were of the opinion that the company is not bankrupt, and left the Ukrainian market, due to high competition.

“They have officially declared that that will cease to work in Ukraine. We had an agreement with them, our company was selling them our product in Egypt. And they encroached on our market, without calculating its features. In consequence, they had to suspend their operations, “- said Arkady Maslov, managing director TEZ TOUR. According to the same Arkadi Maslow, the Ukrainian market is very big, and it stiff competition.

Found out that the company continues to work quietly on the market in Turkey and Iran. “With us they have paid. We do not have to Eray Tour of claims is not “- says Maslov.

Head of Eray Tour in Ukraine was Ergül BCL, who previously headed the other Turkish operator Karya Tour, from its inception, in 2003. In June 2010, the activities of Karya Tour has been suspended. Then five thousand tourists who bought vouchers from Karya Tour, began to evacuate from Turkish hotels. Tourists are told that Karya Tour did not pay for booked rooms.

After the bankruptcy of Karya Tour, once the market went the other operator Eray Tour, then started the scandal, saying the company simply changed its sign and continues to work after the incident. But the information is not confirmed.


Eray Tour Company was founded in Turkey in 2000, and since 2003 has taken tourists from Russia, since 2005 – from Ukraine and Lithuania, Serbia, Albania, Belarus, Moldova, Azerbaijan and Kazakhstan.

Rustam Tariko offers for Nemiroff more than $300 million

“We have not yet agreed, but the process is, there are three shareholders, with one having difficulty. But I’m optimistic on this issue, so expect the deal “- said Rustam Tariko, owner of the alcohol brand” Russian Standard “in Davos, the question of intent to buy Ukrainian alcoholic brands in Nemiroff, as well as production.

In the case of completion of the transaction Tariko pay for Ukrainian alcoholic brand together with the production of “hundreds of millions of dollars.” Tariko said that the amount of the company more than $ 300 million, the question is less whether it is $ 400 million, laughed. The press service of the Nemiroff talks flatly refused to comment.

During his time Nemiroff bidder was the Polish Central European Distribution Corporation, «Russian Standard” and the British Stock Spirits. The Poles have ceased negotiations in the summer, and the British in September of last year. After that, “Russian Standard” has concluded an exclusive agreement with Nemiroff to determine the terms of the deal, the talks will last until November. At the moment, both companies have refrained from commenting.

How many graduates make the best business schools (LBS, Wharton …)

Thirteenth Financial Times ranking of international business training programs (taught in English) led by London Business School (LBS), and Wharton, shared the 1st place. The same alignment of forces was in 2009, and in last year’s ranking of the LBS pressed Wharton, becoming the first. The three also entered Harvard Business School – another school that already received the title of the best. The main reason for the dynamics in the ranking of the top lines – the uneven growth of salaries of graduates.

Wharton returned

Wharton again took 1st place after last year’s assignment of LBS, which is not surprising: for nine years, from 2001 to 2009, Wharton led the ranking either alone or together with other schools. Return to business school in the 1st place was impressive against the background of data on earnings of graduates, while last year’s ranking showed falling wages of graduates after the economic crisis.

Data on salaries of graduates in 2007, gathered for the FT rankings this year, showed that their incomes were not only recovered but also increased over the last three years average salary of graduates of Wharton was $ 171,550 (+7%).

Last year’s graduates of the Wharton found a job much faster than their predecessors, 84% of graduates in 2009, looking for a job, did so within three months after graduation, 9% more than a year ago. That – along with strong data on other indicators that are used for the FT ranking (research and the number of teachers with doctoral degree) – it was enough for Wharton to reduce the backlog from last year’s LBS.

Despite the fact that Wharton has regained first place in the ranking, this world-renowned School of Management is already preparing for a change: after more than two years of discussions at the disposal of Wharton is an agreed scheme of changes in full-time MBA-program. “We have added the program more flexibility by eliminating a few core courses” – says Professor Thomas Robertson, Dean, who took office in August 2007 These changes, he said, will give students the opportunity before to focus on topics that interest them, because will be allowed to choose different courses even for first year students (now all students are taught by the same program). The purpose of these changes – to help students prepare for internships in companies, which begins at the end of the first year and often ends with proposals for a permanent job.

The new program will be partially launched this year and finally – in the following: students who received in 2011, they see the changes – more than 200 elective courses, online learning opportunity, as well as free access to training courses after graduation MBA. 10 years after graduation, students will want to get even more leadership skills and communication, and higher wages, says Robertson.

LBS does not lag

Graduates of LBS, which, as it were, a third year is celebrating its leadership in the solitude and sharing it with Wharton, three years after earning 132% more than before the training.

Impressive graduate employment statistics for 2009 LBS, 91% of them found jobs within three months after release (10 pp to the year before).

Naturally also, that the graduates of LBS in 2 nd place in the number and duration of movement around the learning process (in the summary table ranking the figure is called the “international experience” and has a weight of 2%. – “Vedomosti”). This was possible because 85% of faculty LBS – international and 9 out of 10 students in the MBA program last year were not the subjects of Great Britain. But now the question becomes relevant student visa, says Professor Andrew Likierman, Dean, who took office in 2009: in the next few months the British government decides what to do with the students – graduates from countries outside the EU, but there is no doubt that previously existing concessions that will allow graduates to work in the UK for two years after release, more will not apply.

Dynamic bottom

Although the ranking of the top lines of the first year are occupied by three schools in the bottom of the table there is a significant change. Hong Kong University of Science & Technology continues its rapid ascent, he went into the rating as number 17 in 2008 and broke into the top 10 last year, now he’s in 6th place. IESE be right behind him. This school is based in Barcelona, ​​is among the ten best schools this year and took 9th place at the MIT Sloan School of Management. The Indian Institute of Management Ahmedabad (IIMA) has become the most highly risen rookie ranking: impressive data on the salaries of graduates, on average three years after graduation ($ 174,440), and the growth of earnings after the MBA-program (152%) allowed it to debut soon in 11th place. These findings are consistent with another key indicator of the ranking: IIMA graduates headed the lists of employees for promotion – an option to compare the positions of students to teaching and three years after completion of MBA.

one at all

Trends that can be seen in the top lines of the ranking, can be traced across the table. Graduates of the last academic issue to find jobs faster than their predecessors, 83% completed training in 2010 found work within three months after release, a 3 pp higher than a year earlier, but still not as good as was in 2008 (then it was lucky 89%). Wages of graduates in 2010, recovered: of 81 schools, which appears in the rankings the past three years, 61 schools have reported an increase of the average wage, compared with last year’s rankings. This contrasts with the number of schools that showed falling wages of graduates last year (when there were more than half). But despite the positive trends in the income of graduates reported by schools by end of 2010, the average salary of 32 students from 81 school management remains lower than in the 2009 ranking (in which the estimated salary for 2008).

More detailed analysis showed some differences in wages across sectors. The most highly paid graduates work in banks and financial matters, their average salary – $ 160 000. Three of the 10 graduates are working in these sectors, making it the most popular among the holders of a diploma of business schools. Consulting – the second most popular destination and the number of graduates working in it, and the level of wages: 15% of graduates working in consulting, indicated a salary of $ 140 000.
Finally, graduates of MBA, working in other countries earn more than their counterparts who remained in their country: the average salary of about $ 143 800 international staff are paid about $ 7,000 more.

But these salaries and their dynamics are far from what it was before the crisis. Previously, MBA salary for three years after graduation grew by 3 times. Between 2000 and 2003. salary of graduates, at least 20 of the top 25 schools in three years has increased by 150%. Now an MBA degree has become less and less influence on wages. Ranking in 2010 included only two groups of 100 graduates who have experienced similar growth in revenues: the Spanish IE Business School (an increase of 159%), where he studied a lot of Spanish-speaking students from Latin America and the Indian School of Business (166%) . This year, three such schools, and all of them in developing countries: Indian School of Business (187%), IIMA (152%) and Ceibs, China (155%).

Position in 2011
Position in 2010
The weighted average annual salary of U.S. $ thousand
London Business School
United Kingdom
University of Pennsylvania: Wharton
Harvard Business School
Stanford University GSB
Hong Kong UST Business School
Columbia Business School
IE Business School
MIT Sloan School of Management
Iese Business School

“Dniproavia” bought the aircraft for $400 million

Ukrainian company “Dniproavia”, which is a member of the Aviation Group Alliance and international manufacturer of aircraft company Embraer, signed a contract to supply 10 airliners Embraer-190 and an option for another 5 machines.

Operation of aircraft will be held jointly with another member of the Aviation Group Alliance – the airline “Aerosvit”. At the moment, the total amount of the transaction is approximately $ 400 million, if the “Dniproavia” still take advantage of an option, the total transaction amount increased to $ 600 million

Ordered ships to be carried out in two-class cabin layout, which is designed to transport 104 passengers. The first two cars to be put in the fourth quarter of 2011. Liners will be used as a national and on international flights.

“Dniproavia” – Ukrainian company based in Dnepropetrovsk. Serves regular international and domestic flights, and provides eslugi charter flights. Creation Date – January 20, 1993. The base airport in Dnipropetrovsk.

The mobile phone market grew by 18%

Company iKS-Consulting published a report on the status of the mobile market in Ukraine in September 2010, which states that the total subscriber base of mobile operators in Ukraine increased by 296.8 thousand people (0.53%), compared to the same period last year, in the amount currently in the Ukraine, 56.64 million subscribers (we are talking about the activated SIM-cards). Mobile penetration relative to the total population of Ukraine in September 2010 increased by 0.7 points.

Dynamics of growth in the number of subscribers in August, 2010

Dynamics of growth in the number of subscribers in August, 2010

In mid-September 2010 “Astelit” and “Ukrainian Radio Systems’ subscriber base recorded a decrease of 94 thousand in life:) and by 20.7 thousand at Beeline. Other operators have continued to increase subscriber base. On the absolute growth leader was “Kyivstar”, which measures growth approached 160 thousand subscribers. The second in increase of subscribers is the company “MTS Ukraine” – its base has increased by almost 158 thousand Growth dynamics prevalent in the company “Telesystems of Ukraine”, the subscriber base of the company last month increased by 10.7%.

Statistics of subscribers of different operators for September, 2010

Statistics of subscribers of different operators for September, 2010

The biggest subscriber base still has a “Kyivstar”, it results in September 2010 counted 22.58 million subscribers, with respect to the total number of subscribers in Ukraine is 39.9%. Second place goes to “MTS Ukraine”, which is the number of subscribers reached approximately 18.15 million, a fraction of the total number of subscribers – 32%. The third position for the company “Astelit”, its figures were 11.56 million subscribers, a 20.4% market share. Association “Golden Telecom” and “Ukrainian Radio Systems” have the fifth position and employs 2.46 million subscribers, is 4.3% of the market. As a result of September “Telesystems of Ukraine” (TM PEOPLEnet) moved out of the fifth month of Ukrtelecom, at the moment there are 562 PEOPLEnet thousand subscribers, is 0.99% of the market. Mobile unit Ukrtelecom has svoemaktive 538 thousand subscribers (0.95%). Last place in the ranking company “international telecommunications”, which has 454 thousand subscribers (0.8%). Closes rating International Telecommunication Company (TM «CDMA Ukraine”), a measure of 322.5 thousand customers (0.57%).

Sergei Nedoroslev: Buy stock via SMS

Nedoroslev: buy stock in SMS
Sergei Nedoroslev — Chairman of the Board of Directors of “Kaskol”, which operates in the space industry, also taxi «Dexter» and other areas. Sergei talks about how established the group on financial markets and entrepreneurship in general.

Oleg Zherebtsov: We are on the verge of big changes

Oleg Zherebtsov: We are on the verge of big changes

Oleg Zherebtsov, founder of retail company, “ribbon”, which combines about 35 hypermarkets throughout Russia. Oleg speaks about his youth, familiarity with Oleg Tinkoff and the development of a recognizable retail brand in Russia.

The nuances of building a financial model

The time when you could go to the investor with a descriptive business plan for fifty pages, has passed. Development Bank, in a moment so tired of these documents, which posted on its website its demands to the business plan and financial model. Now the detailed financial information – an important part of any business plan. But many entrepreneurs doing business for years, the fact that the financial model must be created in the format of Microsoft Excel, still baffled. At the request of Forbes Dmitry Kovalev , senior manager of corporate finance PricewaterhouseCoopers , identified a number of nuances to keep in mind when building financial models and writing a business plan.

  1. Banks prefer to have the financial model presented three predicted forms- the forecast balance sheet, profit and loss forecast, the forecast statement of cash flows. If your business plan, one of the predictions is not likely to have to redo.
  2. forecast should be made at least the entire payback period. Tables in the business plan is better cause a breakdown, which will be retained for all calculations (eg, quarterly).
  3. bankers have more confidence in estimates of revenue, which are supported by qualitative marketing research , as well as letters or preliminary agreements with potential buyerson company letterhead, indicating the purchase amount (copies is given in the Appendix). If no such arrangements and illiquid products, specifically, is your prediction for the proceeds will be a big question. The same is forecast to cost. It is better to attach a letter of preliminary agreements with suppliers.
  4. Monoproizvodstva rare, usually items (drivers) more revenue. Need a good understanding of their product range and expect forecast revenue for each of the products, giving the total amount of output. For example, a business center rents not only offices, but also space for shops, cafes and storage space. Rental rates on all of these categories are different. The same can be said about almost any business, be it a refinery or retail store.
  5. need to understand the nuances of pricingin a market where you are going to work. If it refers to hotels, the business plan can not be provided for 100 percent load, no one would believe it. It is better to split the download in different categories of rooms (suites, it can be 10%, and the usual numbers – 70%). It is also worth considering that the rooms you will sell to corporate discounts, etc.
  6. Most are calculated three scenarios(scenario analysis), business development and prepared the base, optimistic and pessimistic forecasts. Sometimes, to calculate the revenue forecast used sensitivity analysis or probabilistic methods, such as the method of Monte Carlo simulation.
  7. In case of any possible occurrence of any specific project risks banks are welcome, if the business plan covers the topic and listed tools to help the company hedge its risks.
  8. basic requirements for costing – reasonable detail, realism and attention to operating and capital expenditure, which must be calculated for the entire forecast period. If you’re planning a long-term growth in check, as to whether this power. Otherwise, the bankers immediately ask you, where CAPEX to expand production.
  9. calculations cash flowsto reflect the operating cash flow (how much money has come from customers as it took to supplier invoices), investment (what is spent on acquiring new assets or plan to gain from the sale of existing ) and financial (the body of credit, dividends, capital increase).
  10. the calculation of operating cash flow should be taken into account the turnover of goods, delay / difference in getting the money from customers as well as possible delays in its own – an entrepreneur needs to know from previous experience or from an analysis of competitors’ activities. Tax settlements should be done very carefully.
  11. residue, which is obtained at the end of the year in the forecast cash flows must correspond to what is stated in the article in the forecast balance sheet. If they do not converge, it is disturbing. When you check your own financial model on several occasions it is desirable to ensure proper functioning of the model, substituting the various assumptions and verifying it, that assets are liabilities, not having a negative cash balance in line, etc.
  12. No hidden sheets in Excel, the remnants of settlement in the fields should not be. If the three-year CAPEX figure 5 rubles, and in 2013 suddenly from a factor 1.1 is taken, it is necessary to explain that the planned scheduled maintenance. All entered into the model assumptions should be listed on the sheets assumptions , so that bankers can use their own assumptions when testing the financial model, and their numbers and verify the model itself.