Today, the Games the XXX Olympiad will open with soccer matches (football for you non-Americans out there). On Friday London will officially take over from Beijing, host of the last Games. Even with the 2008 Games, many companies still find the Chinese market tough to crack both in business and in compliance. However, a recent article in the Summer 2012 edition of the MIT Sloan Management Review may help both business and compliance professionals in understanding some of the cultural differences in Western and Chinese practices.
In an article entitled “Building Effective Business Relationships in China” author Roy Chua explored some of the ways in which the ‘Chinese’ way of doing business is being Westernized and explained that non-Chinese executives must still work hard at building effective relationships with Chinese business partners. He came to these conclusions based upon six years of research, together with un-named colleagues, on trust, cultural psychology and business relationships in China. As a part of the specific research for his article, Chua interviewed 130 US managers and 203 Chinese managers.
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