BUSINESS ADMINISTRATION
STRATEGIC MANAGEMENT
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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hypercompetition
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technology diffusion
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Guanxi/ network
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Evaluating Weakness
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Detailed explanation-1: -Guanxi loosely translates as personal connections, relationships or social networks. It implies trust and mutual obligations between parties, and it operates on personal, familial, social, business and political levels. Having good, bad or no guanxi impacts one’s influence and ability to get things done.
Detailed explanation-2: -Guanxi has 3 sub-dimensions sometimes abbreviated as GRX which stands for ganqing, a measure of the emotional attachment in a relationship, renqing ( rénqíng/jen-ch’ing), the moral obligation to maintain a relationship with reciprocal exchange of favors, and xinren, or the amount of interpersonal trust.
Detailed explanation-3: -Different from the Western management traditions, that emphasize systems of trust and commitment at the organizational level, guanxi is based on personal connections, such as exchanging favors, cultivating personal relations, and ganqing (sharing affection) (Chu et al. 2019).