North American business firms will be successful in China only if they master the practice of guanxi.

Question

Quizplus · Accepted Answer

While mastering guanxi, which refers to building personal relationships and networks, can be beneficial for business success in China, it is not the only factor. Other elements such as understanding the market, adapting to local regulations, and offering competitive products or services also play crucial roles.

North American Business Firms Will Be Successful in China Only