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Guanxi in Jeopardy - Essay Example

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The concept of "guanxi" pertains to the long term relationship of commitment, loyalty and obligation. According to Chen and Chao, a quality "guanxi" in Chinese where it originated "is characterized by mutual trust and dynamic reciprocity and long term equity principles"…
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Guanxi in Jeopardy
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Download file to see previous pages When other countries decide to conduct business and partake on the growth and stability of another for economic reasons, the intruder has to understand the diverse culture that govern ones actions. Critics have widely maintained "that multinational corporations are agents of destruction". Their entry into the realm of another is therefore treated with apprehension.
Joint venture agreements are major trends of globalization seeking market opportunities that go beyond their own national boundaries. Certain criteria should be studied and observed in the selection of a Joint Venture Partner specifically where diverse cultures are existent. Pritchard in his report specified "Asset Specificity" of a potential partner's resources are distinguished according to its market availability and potential financial results. A potential partner's technical skill and managerial flexibility can provide ability and plans for risk management. The recent political and economic events should also be among the considerations a JV requires. A multi-national company cannot allow disruptions to the negotiations that political upheavals could result to. A partner's economic viability and past dealings with other companies should also be considered as a reference for acceptable behavior especially where legal contracts are concerned to sea; the agreements and negotiations. ...Download file to see next pagesRead More
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