A strategic management approach to Guanxi in China
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This article adopts a strategic management approach to addressing the issue of how to achieve both corporate profitability and corporate social responsibility in dealing with Guanxi in the Chinese business context. It argues that environment scanning, strategy formulation, strategy implementation and strategy evaluation and control should be the key components of strategic management of Guanxi. The article proposes a practical framework for managing Guanxi strategically in the emerging China market, and illustrates the framework with cases in the real world.
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