Today I came across a new word -- a Chinese word at that -- twice within a couple of hours. What serendipity!
When the universe talks to me in this way, I listen. (Could it be I have guanxi with the universe?)
Translated literally, guanxi (pronounced gwan-she) means "relationship building"; in practice, it means carefully cultivated clout, a culturally calibrated measure of respect, influence, and honor. It is a personal as well as political form of capital.
Hmmm. Isn't that EQ?
This makes me wonder how EQ fits into global business, specifically with China. China is the next big market -- China has more teenangers than America has adults!
So, what can we learn about guanxi and how can that help us understand how to do business nationally and internationally?
A Los Angeles-based Chinese language school I found on the net says:
"The Chinese culture is distinguished from the Western culture in many ways, including how business is conducted. For example, the Chinese prefer to deal with people they know and trust. On the surface, this does not seem to be much different from doing business in the Western world. But in reality, the heavy reliance on relationship means that western companies have to make themselves known to the Chinese before any business can take place. Furthermore, this relationship is not simply between companies but also between individuals at a personal level."
(You can read more about what they have to say here.)
So, how do businesses make themselves "known"? Could it be through blogs? Maybe it's through formalized networking systems. I found two: Ecademy and, of all things, Guanxi.com.
Also, as an aside, if China is the next frontier for you, here's an organization that helps you understand how to do business with China and it's called, of all things, Guanxi: The China Letter. It claims it's the premium source of information about China and Chinese perspectives.
Here is a blogger's quick post on guanxi. His thoughts mix technology, relationships, social networking and even brand building together. It resonates with me.
Finally, to finish my research on guanxi (for the moment), I did a quick Amazon search. The top book was published on May 9, 2006. This theme sounds current to me!
How can we connect this to the concept of "emotional wealth?"