Business Culture in China Essay Example | Topics and Well Written Essays - 750 words

Business Culture in China - strive ExampleEconomic Environment Economic environment refers to all frugal factors such as economic structures, economic philosophy of a country, economic policies, planning, controls and regulations which affect the functioning of a trade organization in a country. In China, the establishment has absolute control over all markets and owns all resources. The buying indicator of the people of China is high gear and continues to rise constantly and with this rise, tremendous business opportunities argon created. The high world of China also provides a good market for products as local consumers eagerly purchase Hesperian goods. In addition, the high population also provides ready and sufficient labor to the business firms or organizations (Yong, 2005). The livestock market is also an economic indicator of how the Chinese economy is performing. Investors can get information on the performance of any sector of business that they wish to invest in t hrough the stock market. From a market perspective, the pressure to innovate has not existed in China because the demand for goods has never outweighed supply. The Chinese pattern has also been affected by the economic impact of the low labor costs and the foreign charge investment policy. Chinas has a good infrastructure that promotes business operations. It has good communication systems, transferral systems, energy facilities and internet and technology (Yong, 2005). Legal Issues The legal environment incorporates a number of legal regulations of doing business in a given country. The regulations ensure that the interests of businesses organizations do not go against the national interests. The regulations can every be government legislations or... This essay gives an insight into the business culture of Chinese people. For example, showing impatience or humility in a business deal implies mischief and one can change the exponent balance in ones favor. Guanxi (which means rel ationship) is also a very vital quality of the business culture of China. Good business relationship reduces frustrations, disappointments and risks in business. The Chinese culture is very varied from the western culture in that whereas the western countries make deals with any person, Chinese people will however make business deals with those whom they think are trustworthy. Therefore, for the western countries to do business with them, they have to prove that they are trustworthy. Economic environment refers to all economic factors such as economic structures, economic philosophy of a country, economic policies, planning, controls and regulations which affect the functioning of a business organization in a country. In China, the government has absolute control over all markets and owns all resources. The buying power of the people of China is high and continues to rise constantly and with this rise, tremendous business opportunities are created. The high population of China al so provides a good market for products as local consumers eagerly purchase western goods. In addition, the high population also provides ready and sufficient labor to the business firms or organizations. China has for many years been politically stable and this has promoted foreign investment.