MGT 321 Saudi Electronic University International Business Worksheet

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Business Finance

MGT 321

Saudi electronic university

MGT

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College of Administrative and Financial Sciences Assignment 1 Deadline: 05/03/2020 @ 23:59 Course Name: Intro to International Business Student’s Name: Course Code: MGT-321 Student’s ID Number: Semester: II CRN: Academic Year: 1440/1441 H For Instructor’s Use only Instructor’s Name: Students’ Grade: Marks Obtained/Out of Level of Marks: High/Middle/Low Instructions – PLEASE READ THEM CAREFULLY • The Assignment must be submitted on Blackboard (WORD format only) via allocated folder. • Assignments submitted through email will not be accepted. • Students are advised to make their work clear and well presented, marks may be reduced for poor presentation. This includes filling your information on the cover page. • Students must mention question number clearly in their answer. • Late submission will NOT be accepted. • Avoid plagiarism, the work should be in your own words, copying from students or other resources without proper referencing will result in ZERO marks. No exceptions. • All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). • Submissions without this cover page will NOT be accepted. Assignment Regulation: • All students are encouraged to use their own word. • Assignment -1 should be submitted on or before the end of Week-07 in Black Board only. • This assignment is an individual assignment. • Citing of references is also necessary. Assignment Structure: A.No Assignment-1 Total Type Case Study Marks 5 5 Learning Outcomes: • Analyse the effects of culture, politics and economic systems in the context of international business (Lo 1.9 & 2.1) • Carry out effective self-evaluation through discussing economic systems in the international business context (Lo. 3.6) • Explain the forces driving and evaluate the impact of globalization (Lo 1.3) Case study Reread the Management Focus on “China and Its Guanxi”, available in your e-book (page no.110) and answer the follow questions: Assignment Question(s): (Marks: 5) 1. Why do you think it is so important to cultivate guanxi and guanxiwang in China? (Mark:1) 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 does? (Marks:2) 3. What ethical issues might arise when drawing on guanxiwang to get things done in China? What does this suggest about the limits of using guanxiwang for a Western business committed to high ethical standards? (Marks:2) Answer: 1. 2. 3. &&&&
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Running head: DMG SHANGHAI CASE STUDY

DMG Shanghai Case Study
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Institutional Affiliation

Date

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DMG SHANGHAI CASE STUDY

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DMG Shanghai Case Study

Question One:

Guanxi implies relationships that can be best understood in a business context as
connections. It is a popular concept in Chinese culture along with Confucianism. Guanxiwang
implies a relationship network that the Chinese rely on to get help. Having the right guanxi in
China means that breaking or bending legal rules is acceptable (Wang, 2014). In this case, Dan
Mintz, the founder of DMG, established connections with two Chinese men who were highly
influential. I think it is significant to nurture guanxiwang and guanxi in China as essential
elements of business practices. They are mechanisms to maintain business relationships, achieve
successful business and maintain business operations in the long-term in China. Business
operations in China are defined by norms such as self-disclosure, long-term equity, and dynamic
reciprocity principles.
Business connections guarantee successful businesses in China. Moreover, guanxi
defines the extent to which businesses interact in a society that recognizes equality in social
status (Bian, 2018). It develops a chain of command that defines operations at all levels in China.
Moreover, it is unlikely that a business will succeed without having close relationships with
individuals in high ranks. Guanxiwang enables companies to establish relationships that are
cru...


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