The increasing acceptance of guanxi as a way to reduce uncertainty and risk in business dealings is explored. Guanxi, commonly practiced in China, is a form of social network of personal connections. Moreover, this paper suggests that guanxi has become a universal practice. It is not only a preferred way of doing business in China, but also in markets and conditions where certainty and legal transparency are still in dire need.
|Publication status||Published - 2006|
|Event||Academy of International Business Annual Conference - Beijing, China|
Duration: 23 Jun 2006 → 26 Jun 2006
|Conference||Academy of International Business Annual Conference|
|Period||23/06/06 → 26/06/06|
- risk taking
- uncertain business conditions