Is Yongo Important in establishing the Korean Informal Relation-Based Networks?
The presence of informal ties in Korea is unique because the family, school, and regional factors determining their formation. This course has made it possible for me understand the significance of these ties in the country. Yongo, as a critical theme shows that university mates are more important than schoolmates are. Importantly, private relationship forms the foundation of any engagement in this country because nothing can be accomplished without it as explained by Ahlstrom and Bruton (2010). With Yongo, the relationships become a connection established through graduation. The individuals who graduate from the same university or hail from the city, or family are the foundation of the connectedness. I must acknowledge that understanding this relationship concept enhance business negotiation. Whenever a business negotiation begins, it becomes essential to seek information relating to the age, home, and the former university where such an individual graduated. These inquiries ensure the stakeholders define Yongo. In fact, by finding Yongo, it is possible to change the situation completely. Hence, this justifies the significance of Yongo in business interpretation and decision-making process.
The foreign conglomerates operating in Korea have to take rational position to avoid sharing information. In fact, most of the Western organizations use memos, yet in Korea, people have to share information with friends (Horak 2014). These people rarely value the aspects of give-and-take game plan as expected in Yongo culture. In this culture, issues or problems are addressed based on relationships between people not the issue itself as they detach such problems from people. Without a doubt, every Korean must embrace and practice Yongo because it stems from university, hometown, and family connections. They work to maintain them. This implies the Korean establish their informal networks based on special institutions.
Ahlstrom, D. & Bruton, G.D. (2010) International management: strategy and culture in the emerging world. South-Western Cengage Learning, Australia.
Horak, S. (2014) ‘Antecedents and characteristics of informal relation-based networks in Korea: Yongo, Yonjul and Inmaek’, Asia Pacific Business Review, vol. 20, no. 1, pp. 78-108. (Available at https://dx.doi.org/10.1080/13602381.2013.791567)
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