Guanxi and Business

Guanxi or interpersonal relationships is one of the major dynamics of Chinese society. A pervasive part of the Chinese business world for the last few centuries, it binds literally millions of Chinese firms into a social and business web. Any business in this society, including local firms and foreign investors and marketers, inevitably faces guanxi dynamics. In China's new, fast-paced business environment, guanxi has been more entrenched than ever, heavily influencing Chinese social behavior and business practice. However, as in other emerging economies, corruption in China is becoming more rampant, which makes guanxi and corruption often intermingled. As such, business executives need to place greater caution today in the practice and process of guanxi development and utilization.

Due to the growing academic and practical interest in guanxi, this second edition provides a timely update to the systematic and vigorous exploration of the various social, economic, cultural, and business issues relating to the complex concept and practice of guanxi.

Contents:

• Definition, Principles, and Philosophy of Guanxi
• Economic Perspective of Guanxi
• Guanxi and Firm Performance
• Organizational Dynamics and Guanxi
• Guanxi-Based Business Strategies
• Foreign Businesses and Guanxi
• Guanxi, Corruption and Governance
• Practical Guidelines to Guanxi Cultivation

Readership: Students, managers and academics in economics, finance, operations research, management and business sociology.
Key Features:

• The second edition includes a new chapter on the differences between guanxi and corruption