New Yorker Dan Mintz moved to China as a freelance film director with no contacts‚ no advertisingexperience. DMG had emerged as one of China’s fastest growing advertising agencies. Mintz attributeshis success in part to what the Chinese call guanxi: Guanxi means relationship and through businesssetting it can be better understood as connection. Guanxi has its roots in the Confucian philosophy of valuing social hierarchy and reciprocal obligations. Confucian ideology has a 2‚000-year-old history inChina
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out of business. The connections that a businessman makes can either make or break a deal. A deal gone well will give that businessman prestige and allow for him easy access to other resources in the future. QUESTION 2: What does the experience of DMG tell us about the way things work in China? What would likely happen to a business that obeyed all of the rules and regulations‚ rather than trying to find a way around them as Dan Mintz apparently does? ANSWER 2: Personal power and relationships
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Summary New Yorker Dan Mintz moved to China as a freelance film director with no contacts‚ no advertising experience. DMG had emerged as one of China’s fastest growing advertising agencies. Mintz attributes his success in part to what the Chinese call guanxi: Guanxi means relationship and through business setting it can be better understood as connection. Guanxi has its roots in the Confucian philosophy of valuing social hierarchy and reciprocal obligations. Confucian ideology has a 2‚000-year-old
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and getting business done in China successfully. 2. What does the experience of DMG tell us about the way things work in China? What would likely happen to a business that obeyed all the rules and regulations‚ rather than trying to find a way around them as Dan Mintz apparently does? As we look through the case of DMG in Shanghai‚ we recognize the influence of guanxi more apparently. Dan Mintz‚ the founder of DMG‚ had no prior experience in the
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CASE STUDY: DMG-SHANGAI Question 1: Closing Case: DMG-Shanghai-International Business chapter 3 1. Why do you think that it is so important to cultivate guanxi and guanxiwang in China? Guanxi and guanxiwang are essential to business in China. It is an important mechanism for building long-term business relationships and getting business done in China successfully. 2. What does the experience of DMG tell us about the way things work in China? What would likely happen to a business
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CLOSING CASE FOR CHAPTER 4 WAL-MART’S CHINESE SUPPLIERS Wal-Mart is the world’s largest retailer. It built to dominance on the mantra of “everyday low prices”. The low price has required Wal-Mart to source many of the goods it sells from factories that operate at the low cost. Wal-Mart has an ethical supplier’s code of conduct. Amongst other things in the code of conduct are: 1. The supplier do not employ under wage labour 2. They must pay the labour at least the legal minimum wage for
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Shanghai is the most populated city in the world with an immense population of 17.8 million people. It is important because of its leading standing in media‚ finance and technology. In 2010 the city hosted the world expo‚ bringing itself to the attention of more people around the world. People from other parts of China and other countries come to Shanghai to pursue their goals. In the past two decades Shanghai has developed a new generation of talented youth‚ an imposing infrastructure and a prosperous
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Closing case 7.2 1. Discuss McAfee’s handling of the update disaster. Should McAfee have done anything differently? If so‚ what? Support you answer. a. I think McAfee handled the situation very well but more could have been done to resolve the problem. It was a smart move for her to add postings about the updated disaster on the web and under the frequently asked questions section. Two days is a quick recovery time and big businesses were able to get back on track quickly. As for the
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Jennifer Arias Bus 131 Mr. Kuritzky Chapter 8: Foreign Direct Investment Closing Case Case Discussion Questions: 1. Why‚ historically‚ has the level of FDI in Japan been so low? The relatively low FDI stock in Japan is partly the result of a history of official inhibitions on FDI. In some industries‚ inward FDI penetration‚ as measured by the share of employment accounted for by foreign affiliates‚ in Japan in fact is on par with the United States. However‚ a large number of "sanctuaries" with almost
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Closing case 1. What was the planned strategy at Daimler-Benz for Chrysler in 1998? Emphasize bold design‚ better product quality‚ and higher productivity by sharing designs and parts between the two companies. 2. In retrospect‚ Daimler-Benz’s Plans for Chrysler seem overly optimistic. What decision-making errors might Daimler-Benz have made in its evaluation of Chrysler? How might those errors have been avoided? The company’s core offered pickup trucks‚ SUVs and minivans that provided products
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