With Regard to Small Family Businesses in China, a "Guanxi

question 77

Multiple Choice

With regard to small family businesses in China, a "guanxi" can be best described as a ________.

• A)family hierarchy that determines who receives profits
• B)competitive management style based on Confucian values
• C)network of relationships centered on mutual obligations and favors
• D)combination of modern and traditional methods for managing employees

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Definitions:

Substitute

An alternative or replacement for something else, often found or used when the original is unavailable or unsuitable.

Extend

To prolong the duration of something or to reach out in space or time.

Course of Dealing

A pattern of actions between parties that establishes a common basis for understanding in future transactions.

Usage of Trade

Established customs and practices in a particular industry that are considered binding or enforceable in business transactions.