Russia is the world's biggest country with its vast territory that occupies the east of Europe and the north of Asia, i.e. 11.46% of the Earth's land area. Russia is washed by the waters of twelve seas and three oceans: the Arctic in the north, the Atlantic in the west and the Pacific in the east.
The Russian landscape varies from desert to frozen coastline, tall mountains to giant marshes. Much of Russia is made up of rolling, treeless plains called steppes. Siberia, which occupies three-quarters of Russia, is dominated by sprawling pine forests called taigas.
Increase in research and development (R&D) activities have a major impact in the economy, leading to increases in productivity, competitiveness and economic growth of Russia. Russia entered the 20th century with a powerful scientific and relatively weak technological potential. Russia has a high-income mixed economy with state ownership in strategic areas of the economy. Russia relies on energy revenues to drive growth. Russia has an abundance of oil, natural gas and precious metals, which make up a major share of Russia's exports. Russia’s economy decreased substantially last year, hampered by a combination of low oil prices, international sanctions, a sharp depreciation of the ruble and structural weakness.
In Physics, Peace, Literature, Economics, Chemistry and Medicine, Russia produced 27 Nobel laureates so far. Russia opens up great opportunities for the businesses interested in expanding to new markets. The Russian Investment Agency is a dedicated organization rendering its all-around support to foreign investors in Russia. Research in Business and Management has been increased in Russia and publications related to research in field of business and management are published in business and management journals. Moscow International Higher Business School, National Research University, National University of Science and Technology, Saint Petersburg Electrotechnical University and others are developing research towards business.