Sustainability of Conventional Sagacity Among Chinese Managers

Abstract

Western capitalist ideas brought in by China's economic reforms may be undermining the place of traditional Confucian values in China's business dealings. This article examines whether the traditional folk wisdom and mores handed down in Chinese families have any effect on ethical decisions and behavior of Chinese managers in the aftermath of the financial tsunami of 2008. A survey of practicing Chinese business managers found that traditional Chinese values still have a hold on their ethical behavior and thought. A model displays the formal influence of Chinese folk wisdom on ideas of corporate social responsibility and corporate governance. The findings should be of particular importance in inducing the Western world to change its view of the Chinese approach to economic development and the effectiveness of the Chinese mode of business operations in countering the adverse effects of the financial tsunami.