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The Meaning Of Guanxi
The first Chinese word that anybody who does business in China must learn is "Guanxi" And what means this word?:
China is a country that is developing in a very fast pace and at the same time it is growing. So many business opportunities are starting to float. A city where you can set up operations is Shanghai. In this city you can stay and meet people, and for those looking to build up their Guanxi, there is always a networking event, conferences and many opportunities to promote yourself and your company along with a few drinks and chips.
During the last 2 decades there have been fewer topics more important than to build strong business relationships, and in China the word Guanxi is one of the first words a foreign executive must learn.
But what means Guanxi? In a Mandarin dictionary you can find that it is relation; relationship; to concern; to affect; to have to do with; relations.
In other words Guanxi is your network of people; who you know; how many cards you have; whether potential customers know of your product; and, if you are in sales, who knows you.
Before to do business in China meant that a foreign executive was interacting only with Chinese businessmen in introductions were
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critical and relationships were coveted. Meetings with factory managers, bankers, government officials, and distributors were conducted in Chinese around large tables in rooms that had no heat or AC over scalding hot tea were conducted.
Meals were eaten, sites were visited, families were introduced, gifts were given, alcohol was consumed, and relationships were raised. It was the first step for doing business in China, and those relationships were critical for the future stability and success of the operations.
But, in the last few years as more and more foreign companies have not only visited China, but also invested in China, the role of relationships has changed. When European or American executives once complained about the snails pace building relationships took, many relationships now are built on the business fundamentals of the deal being discussed, and thus are moving much quicker.
In many ways, government officials, manufacturers, distributors, and customers are all a bit tired. Many have been visited many times by related companies, all offering the same interest in investing in a particular area, buy a particular product, or partner with a particular company, and unfortunately, this has changed their level of excitement from ecstatic to muted as many did not put their money where their mouth was.
However, on the other side, the importance of relationships with other foreign companies is becoming more and more important for Chinese. Due primarily to the number of companies entering China, there is now a new group of companies entering China that deal solely with other foreign companies, and thus need to have strong relationships with foreign companies rather than Chinese companies. This is also true for many who are supplying services like freight forwarding, outsourced accounting, and many other services.
This article was researched and produced by Posicionarte for China Trading Company , 2007
Author Bio:
Eric Castro Mattas, is chief editor of Posicionarte researching and producing articles for China Trading Company. If you need products from China please visit www.chinatrading-company.com
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