MGT 321 China and Its Guanxi Case study Questions

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Yrra13

Business Finance

MGT 321

MGT

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Running head: FOCUSING ON MANAGEMENT OF INTERNATIONAL BUSINESS

Focusing on Management of International Business

Student’s Name
Institutional Affiliation
Date

1

FOCUSING ON MANAGEMENT OF INTERNATIONAL BUSINESS

2

Focusing on Management of International Business

Why do you think it is so important to cultivate guanxi and guanxiwang in China?

In China, both Guanxiwang and Guanxi are critical to ensure a smooth running of
business in the country. Essentially, they are helpful in establishing enduring bonds that facilitate
success in business operations in China. Notably, the establishment of various relationships
through Guanxiwang and Guanxi helps to go beyond the traditional way of doing business in
China, which is characterized by a weak legal system (Hill, 2008). Guanxi is a mechanism
established by a top authority to receive favor in uncertain future every time an accrual is made
from the guanxi network. Reason, guanxi is seen as an investment whereby an investment made
today in the network will be reaped in uncertain future. For this as such, introducing
Guanxiwang and Guanxi provi...


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