"GV leveraging off IDG's Guan Xi. Only way to get things done...

"GV leveraging off IDG's Guan Xi. Only way to get things done there"

Maybe it's a bit of Guanxi we're seeing today ? If Not, then in Future

Or possibly, more likely, a bit of the 'Wang Factor' forming atm ?

Who ever it is, Keep it Up ! Broker Data might give us a Clue down the Track


Guanxi

In a business context

In China, a country where business relations are highly socially embedded, guanxi plays a central role in the shaping and development of day-to-day business transactions by allowing inter-business relationships and relationships between businesses and the government to grow as individuals representing these organizations work with one another.

Specifically, in a business context, guanxi occurs through individual interactions first before being applied on a corporate level (ex. one member of a business may perform a favor for a member of another business because they have interpersonal ties, which helps to facilitate the relationship between the two businesses involved in this interaction).

Guanxi also acts as an essential informal governance mechanism, helping leverage Chinese organizations on social and economic platforms. In places in China where institutions, like the structuring of local governments and government policies, may make business interactions less efficient to facilitate, guanxi can serve as a way for businesses to circumvent such institutions by having their members cultivate their interpersonal ties.

Thus, guanxi is important in two domains: 1) social ties with managers of suppliers, buyers, competitors, and other business intermediaries; and 2) social ties with government officials at various national government-regulated agencies. Given its extensive influential power in the shaping of business operations, many see guanxi as a crucial source of social capital and strategic tool for business success.

Thanks to a good knowledge of guanxi, companies obtain secret information, increase their knowledge about precise government regulations, and receive privileged access to stocks and resources. Knowing this, some economists have warned that Western countries and others that trade regularly with China should improve their "cultural competency" in regards to practices such as guanxi. In doing so, such countries can avoid financial fallout caused by a lack of awareness regarding the way practices like guanxi operate.


GLTAH - Especially PP

Cheers

Frank