Chinese entrepreneurs are more profound in the ways they conduct their business in that they capitalize in friendship and the art of working together to widen their markets. This is shown in the article ‘doing business the Chinese way’ by Katie Hopes. The Entrepreneurs tend to work together both when there are setbacks and when having their leisure. This bond ensures that whenever one of them falls, the others help him to his feet. As compared to the west, their policy entails every entrepreneur depending on themselves and whenever they need help from other entrepreneurs, they must have something to offer. In other words, if you have nothing to offer you will go down without any one offering a hand to pull you out. (Yadong 2007)
‘Guanxi’ The Chinese term for this relationship involves the entrepreneurs traveling to each other’s work places, having meals and drinks together. They form the exclusive members of the china entrepreneur club (CEC) whose members are limited to ensure the close relationship (Yadong. 25) This system though unlike any other is not open to corruption. From’ hope’ article, Mr. Deng Feng, an entrepreneur states that this system works best to the Chinese as they are more social and less private in comparison to the western entrepreneur.
As this is the case in china, any entrepreneur, however strong, determined or smart, they can barely succeed without a business community. The ‘guanxi’ system has been cultivated for quite a long time, and over the years it has transformed Chinese firms globally.
‘Erick Young’, who is the chief executive and co-founder of online education platform, speaks in favor of internet based business citing that they reach more audience than personal connection
In conclusion, the ‘guanxi’ Chinese way doing business binds entrepreneurs and helps them manage their business even when they encounter setbacks on the way. This community market system enables a wider market to.
Work Cited
Luo, Yadong. Guanxi and Business. New Jersey: World Scientific, 2007. Print.
