In China, the practice of using guanxi is an integral part of doing business both to those firms already in the country and thos

Question

Olenka [21]

3 years ago

10

In China, the practice of using guanxi is an integral part of doing business both to those firms already in the country and thos

e working to get their firms into the country. Guanxi is built on reciprocity meaning: __________

Social Studies

1 answer:

Pie · Answer 1 · 2022-10-19T09:28:49+03:00

The Chinese term Guanxi means having a closed relationship with business partners that entails both respect, loyalty and reciprocity.

<h3>What is a Business Relationship? </h3>

This refers to the close association between two or more business partners in such a way that they work closely together.

In Chinese traditional business relationships, they believe in the practice of Guanxi which refers to the closed relationship which is based on respect, loyalty and reciprocity.