Guanxi and Business Strategy [electronic resource] : Theory and Implications for Multinational Companies in China /
Langenberg, Eike A.author.
"Guanxi and Business Strategy" elaborates upon a topic of paramount importance to both academic scholars and managers doing business with China: the impact of personal relationships (guanxi) on business affairs. In the Chinese cultural and socio-economic environment, how are the ubiquitous practices of guanxi to be considered in entrepreneurial strategies? Rather than explaining the emergence of guanxi and its persistence – in spite of the existence of a market economy – with Confucianism, the author applies the phenomenon to the methodology of New Economic Sociology. By integrating guanxi into a business context, he shows that the commercial utilization of guanxi with suppliers, customers, competitors and authorities yields significant sustainable competitive advantages. As guanxi practices, however, may pose risks to unsuspecting managers, guanxi-based business strategies are also assessed in terms of compliance with legal and ethical standards.
Description based upon print version of record.
Includes bibliographical references and index.
Introduction: The Ubiquitous Phenomenon of Guanxi; Review of Previous Research; Methodological Considerations -- The Guanxi System: The Cultural Embeddedness Argument; Conceptualizing Guanxi; Transitory Considerations -- Guanxi-Based Business Strategies: What Is Strategy? The Role of Sustainable Competitive Advantage; Typology of Guanxi-Based Business Strategies; Notes on Strategy Implementation -- Discussion: Assessment from a Legal Perspective; Implications for Business Ethics; Outlook: Durability of Results.
"Guanxi and Business Strategy" elaborates upon a topic of paramount importance to both academic scholars and managers doing business with China: the impact of personal relationships (guanxi) on business affairs. In the Chinese cultural and socio-economic environment, how are the ubiquitous practices of guanxi to be considered in entrepreneurial strategies? Rather than explaining the emergence of guanxi and its persistence – in spite of the existence of a market economy – with Confucianism, the author applies the phenomenon to the methodology of New Economic Sociology. By integrating guanxi into a business context, he shows that the commercial utilization of guanxi with suppliers, customers, competitors and authorities yields significant sustainable competitive advantages. As guanxi practices, however, may pose risks to unsuspecting managers, guanxi-based business strategies are also assessed in terms of compliance with legal and ethical standards.
Organization.
Planning.
Entrepreneurship.
Cultural studies.
Business.
Management science.
Culture—Study and teaching.
Organization.
Entrepreneurship.
Cultural Studies.
Business and Management, general.
Regional and Cultural Studies.
Contributions to Management Science