Scenario: Globetrotter Sam Johnson
Sam Johnson is an individual who accepts risks and opportunities involved in creating and operating new business ventures worldwide. He has been considering China, France, or Vietnam for his next venture.
-Sam should know that one of the most important factors in forming a successful venture in China is ________.
A) doi moi
B) guanxi
C) perestroika
D) communes

Question

Quizplus · Accepted Answer

Guanxi refers to the Chinese concept of developing personal connections and relationships in business. It is crucial to build strong relationships with suppliers, customers, and government officials in order to succeed in business in China. Therefore, Sam Johnson should have knowledge and understanding of this concept to form a successful venture in China. The other choices (A) doi moi refers to Vietnam's economic reforms, (C) perestroika refers to Russia's economic reforms, and (D) communes do not relate to forming successful ventures in China.