Why Is There Such a Difference Between the Failure Rates

question 34

Essay

Why is there such a difference between the failure rates of small businesses in general and franchising operations in particular?

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Definitions:

Guanxi

A Chinese term referring to the interpersonal relationships, networks, and connections essential for business and social outcomes.

Relationship Building

Relationship building is the process of developing and fostering connections and rapport with others, which is essential in both personal interactions and professional environments.

Social Responsibility

The ethical framework suggesting that individuals and organizations have an obligation to act for the benefit of society at large, balancing economic growth with the welfare of environmental and social ecosystems.

Community

A group of people living in the same place or having a particular characteristic in common, also can refer to a feeling of fellowship with others as a result of sharing common attitudes, interests, and goals.