Adapting To Change

Days of Russia Foundation

Summer 2012
Presented by Sean Jennings, CPA

Sean V. Jennings, CPA

seanvjennings@hotmail.com
Geopolitical Economic Timeline - USA
1987 - 2012

Sean V. Jennings, CPA

seanvjennings@hotmail.com
Geopolitical Economic Timeline - USA
1987 - 2012

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 Geopolitical Economic Timeline - USA
1987 - 2012
• Major economic effects arose from
the September 11 attacks, with initial shock
causing global stock markets to drop sharply.
The attacks themselves caused approximately
$40 billion in insurance losses, making it one
of the largest insured events ever.

Sean V. Jennings, CPA

seanvjennings@hotmail.com
Geopolitical Economic Timeline - USA
1987 - 2012

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 Geopolitical Economic Timeline –
Russian Federation 1987 - 2012
• 1987 - Mikhail Gorbachev launches a
campaign of political openness ("glasnost")
• 1991 - Russia becomes "independent" as the
Soviet Union collapses and, together with
Ukraine and Belarus, forms the
Commonwealth of Independent States, which
is eventually joined by all former Soviet
republics except the Baltic states.
• 1992 - (Russian) Price controls lifted.

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 Geopolitical Economic Timeline –
Russian Federation 1987 - 2012
• 1996 - Russia admitted to the G-7 group of
industrialised countries.
• 2001 July - Friendship treaty signed with
People's Republic of China
• 2003 October - Billionnaire Yukos oil boss
Mikhail Khodorkovsky arrested and held in
custody over investigations into tax evasion
and fraud. Mr Khodorkovsky had supported
liberal opposition to President Putin.

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 Geopolitical Economic Timeline –
Russian Federation 1987 - 2012
• 2004 August - Russian authorities seize assets of
Yuganskneftegaz, the key production unit of oil
giant Yukos, to offset the latter's reported tax
debts.
• 2006 July - Rouble becomes convertible currency.
• 2008 September/October - Share prices fall
dramatically at the Moscow stock exchange as
Russia is hit by the world financial crisis and a
sudden fall in oil prices.
Sean V. Jennings, CPA
seanvjennings@hotmail.com
 Geopolitical Economic Timeline –
Russian Federation 1987 - 2012
• 2011 November - Georgia and Russia sign a
Swiss-brokered trade deal which allows Russia
to join the World Trade Organization (WTO),
ending Georgia's blockade of Russian
membership since the 2008 war.

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 What Geopolitical Issues Changes
Will We Need to Adapt To Going
Forward
• Continued geopolitical issues, economic
disruptions, IFRS (international accounting
standards)
• Russia entering WTO (World Trade
Organization)
• Fluctuating commodity prices

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 What Geopolitical Issues Changes
Will We Need to Adapt To Going
Forward
• Importance of monitoring sovereign debt
ratios in light of Euro crisis

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 Effective Strategies for
Adapting/Dealing with Change

One of the most essential life skills a person can have is

the ability to adapt to change. An adaptive individual is
one who is able to refocus the mind in new directions
and make choices based on his or her desired
outcomes. However, adapting to change is difficult for
most people due to the fact that humans are creatures
of habit; having to change our patterns and behaviors
is frustrating and annoying and takes us out of our
comfort zone. But developing the skills necessary to
adapt to change can have powerful outcomes,
including self‐improvement, ongoing learning, and a
higher level of personal and work achievement.
Sean V. Jennings, CPA
seanvjennings@hotmail.com
 Effective Strategies for
Adapting/Dealing with Change
• How can you overcome the obstacles to change?
• Gain an awareness of what's going on in your immediate
environment. Give yourself time to
analyze situations thoroughly. View potential change from
different angles and perspectives to
gain a more complete understanding of its possible effects.
• Try to anticipate change before it happens, and have a plan to
take advantage of new situations
and opportunities.
• Make informed decisions. Communicate concerns and ask
questions to get information that
might not be apparent.

Sean V. Jennings, CPA

seanvjennings@hotmail.com
 Effective Strategies for
Adapting/Dealing with Change
• How can you overcome the obstacles to change?
• Identify both internal and external barriers you feel may
stand in the way of what you want to
accomplish.
• Counteract self‐created doubt by looking at your lack of
confidence logically and talking about it
with family and friends.
• Think Positively. You control how you think about and
perceive changes! The more positively
you think about change the more positive your reaction to it.
• Be willing to step outside of your comfort zone…it may
prove to be a great experience!

Sean V. Jennings, CPA

seanvjennings@hotmail.com