CASE DESCRIPTION The primary subject matter of this case concerns the management of international joint ventures. Secondary issues examined include: business in Russia; government’s intervention in business and how it affects multinational companies; market entry and modes of market entry decisions;; and dimensions and elements of culture (Fang 2003). The case has a difficulty level appropriate for first or second year graduate level. The case is designed to be taught in one class hour and is expected to require one hour of outside preparation by students. CASE SYNOPSIS BP, one of the largest publicly listed oil companies in the world, had been operating in Russia since 1997, initially through minority stakes in Russian oil companies and, since 2003, through TNK-BP, a 50-50 joint venture with AAR, a consortium of Russian investors. This joint venture allowed BP access to extensive oil reserves in Russia and was one of BP’s most valuable assets, accounting for 25% of BP’s production in 2007. In 2008, BP and its partners in TNK-BP encountered serious disagreements about how to run the company. A string of government actions including raids by the Russian tax police on both BP and TNK-BP’s offices in Russia concluded with the cancelation of TNK-BP’s British CEO’s work visa by Russian immigration authorities. Although BP and its partners reached an agreement in principle to renew the board of TNK-BP and appoint a new CEO in December 2008, by February 2009 they had not been able to appoint a Chief Executive acceptable to both parties. INTRODUCTION In May 2009 TNK-BP, a 50-50 joint venture between BP, one of the major western oil companies, and Alfa Access/Renova, a…