With regard to small family businesses in China, a "guanxi" can be best described as a ________.

Question

Quizplus · Accepted Answer

In China, "guanxi" refers to a network of relationships that involves mutual obligations and favors. This is especially important for small family businesses, as they rely heavily on personal connections and relationships in their dealings with customers and suppliers. "Guanxi" can also extend to hiring practices and employee management within the business. A and B are incorrect since they do not accurately describe the concept of "guanxi," while D does not explicitly relate to the relationships and obligations that make up the concept.

With Regard to Small Family Businesses in China, a "Guanxi