Friday, May 9, 2008

'Guanxi' in Chinese business

Everybody agrees that China is a potential market for overseas investors to enter. There are differences between the East and the West and many foreigners have encountered problems in doing business with the Chinese. In order to be success in entering the Chinese market, proper ways to approach this market are necessary.

Doing business with Chinese, we need to understand the Chinese cultures. In particular, the existence of good relationships (guanxi) is of paramount importance in marketing goods and services to the Chinese society.

The importance of "Guanxi"
Getting the right "Guanxi" will minimize the risks and frustrations when doing business in China. An organization that acquires the right "Guanxi" with relevant authorities will have competitive advantage in the long run and that is why the correct "Guanxi" is vital for an organization's business to be successful in China.

Building "Guanxi"
"Guanxi" is difficult to obtain and is something that cannot be developed overnight. It is built on trust that has developed over time. The Chinese need"face", so give "face" to the Chinese. If you cause someone to lose face, you will have little support when you need it. In addition, it is important to respect the Chinese culture avoid raising any sensitive issues culturally or politically. You need to be patient and you will get the reward by moving forward step by step and with commitment.

There are many long-term opportunities in China!

Own your business

  • Are you tired of working from 9-5?

  • Are you satisfied with your current work and income?

  • Do you want to earn more money?

  • Do you want to work in flexi-hours?

  • Do you want to own your business?

  • Do you want to spend more time with your family?

  • Do you want to retire before age 60?

If your answers are 'yes', here is your opportunity ...

Own your business