GUANXI AND BUSINESS SUCCESS AMONG CHINESE ENTREPRENEURS: A SOCIAL CAPITAL PERSPECTIVE
GUANXI AND BUSINESS SUCCESS AMONG CHINESE ENTREPRENEURS: A SOCIAL CAPITAL PERSPECTIVE

Summary/Abstract: Social capital encompassing ideas, knowledge, information, contacts, and referrals is crucial for business achievement. This study discusses the concept of social capital within Chinese society and its pivotal role as a strategic component in the business performance of Chinese entrepreneurs. The research identifies guanxi, originating from Confucian principles, as a cornerstone of Chinese social capital. Guanxi fosters trust, facilitates networks, and fulfills reciprocal obligations, enhancing business operations' efficiency and sustainability. It is a vital component of Chinese entrepreneurs' strategic approach, characterized by its ethical and insightful nature. The findings emphasize that leveraging social capital, especially guanxi, is a reliable predictor of Chinese business success. By exploring the dynamics of social relationships, the study sheds light on the strategic deployment of social capital as a critical determinant of business performance. This research significantly contributes to understanding social capital from a sociocultural perspective, suggesting the potential development of a refined social capital theory across diverse sociocultural contexts.

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