In China, guanxi is central to getting business done, and firms that lack sufficient guanxi may find themselves at a disadvantage. Quanxi refers to:
A) cross-border trading.
B) tacit knowledge of cultural values and norms.
C) respect for longstanding cultural celebrations.
D) relationships backed by reciprocal obligations.

Question

Quizplus · Accepted Answer

Guanxi in China refers to the network of relationships among various parties that cooperate together and support one another. The concept emphasizes personal connections where both parties benefit from the relationship, often involving reciprocal obligations, trust, and mutual benefits. It is a critical aspect of doing business in China, where personal relationships can significantly influence business transactions and opportunities.

In China, Guanxi Is Central to Getting Business Done, and Firms