search query: @author Hitt, M. A. / total: 30
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| Author: | Hitt, M. A. Lee, H.-u. Yucel, E. |
| Title: | The Importance of Social Capital to the Management of Multinational Enterprises: Relational Networks Among Asian and Western Firms |
| Journal: | Asia Pacific Journal of Management
2002 : AUG, VOL. 19:2-3, p. 353-372 |
| Index terms: | CAPITAL STRATEGY ALLIANCES ALLIANCES TRUST |
| Language: | eng |
| Abstract: | Social capital is an important concept for multinational firms. Firms operating in global markets rarely have adequate resources to compete effectively in global markets; they access the needed resources through formal and informal relationships with other firms. The cultures in Asian countries have emphasized relationships much more strongly than Western firms. Thus, relational capital, based on guanxi (China), kankei (Japan) and inmak (Korea), provides the framework for business dealings in many Asian countries. As a result, the social capital of many Asian firms gives them a potential competitive advantage in global markets. Western firms must develop social capital and learn to manage relational networks to gain and sustain a competitive advantage in global markets. |
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