The role of informal networks in international business is often underestimated but, can be vital for achieving business success. Informal networks can provide access to valuable information, resources, and contacts, as well as foster trust and collaboration among individuals and organizations. The structure and dynamics of informal networks can be greatly influenced by cultural contexts, with different cultures exhibiting varying levels of formality and dependence on personal relationships. Although networks are generally viewed as advantageous, it is primarily the "network societies" in East Asia that are believed to have developed influence based on a relational competitive edge, relying on informal networks between and within business and politics.

This event provided a platform for participants to share insights, experiences, and best practices related to informal networks in international business. Participants were able to gain a deeper understanding of the importance of informal networks and how to navigate cultural contexts to effectively leverage them. The interactive sessions also encouraged discussion and collaboration, providing an excellent opportunity for networking and building relationships with like-minded individuals from different cultural backgrounds. The panel of experts shared engaging and enlightening insights for anyone interested in informal networks and their role in international business, especially within the Korean, German, and American cultural contexts.

Additionally, the panel discussion explored how businesses can build and maintain informal networks in these cultural contexts. Participants learned about the different types of informal networks that exist and how they can be identified and accessed. They also gained insights into how to build trust and establish relationships with potential partners or clients, as well as how to navigate potential cultural barriers or misunderstandings. By the end of the event, participants were able to gain a deeper understanding of the critical role that informal networks play in international business and be equipped with practical strategies for leveraging them effectively.

In partnership with University Alliance Ruhr.

Photos by Sarah Blesener

Schedule

6:00 pm: Doors

6:30 pm: Welcome with Katja Wiesbrock Donovan and Priya S. Nayar

6:35 pm: Keynote Address with Consul General Euy Whan Kim, Consulate General of the Republic of Korea in New York

6:45 pm: Moderated Panel Discussion with Experts

7:35 pm: Networking Reception (with speaker specific practice tables)

Meet the Panelists

Panel Facilitator: Dr. Sheila M. Puffer (Post-Soviet Union)

Sheila M. Puffer is University Distinguished Professor and professor of international business, D'Amore-McKim School of Business, Northeastern University. She has been recognized as the #1 scholar in business and management in Russia, the former Soviet Union, Eastern Europe (Journal of International Business Studies). Her 160 publications include Hammer & Silicon: The Soviet Diaspora in the US Innovation Economy (with Daniel McCarthy and Daniel Satinsky, Cambridge University Press, 2018). She earned a diploma from the Plekhanov Institute of the National Economy, Moscow, and a BA (Slavic Studies) and MBA (University of Ottawa), and PhD in business administration (University of California, Berkeley).

Dr. Sven Horak (Korea)

Sven teaches and researches in the area of global management, organization and leadership at The Peter J. Tobin College of Business (St John's University). His research focuses on informal networking in global management and leadership ethics in the global workplace. By drawing on insights from sociology, psychology and ethics, his work advances knowledge on the anatomy of informality and how it makes management in a global context successful. Sven worked for several years in the automotive industry, managing operations for a leading global automotive supplier out of its headquarters and subsidiaries located in Tokyo, Seoul, and Stuttgart. He held numerous visiting positions at institutions such as The University of Tokyo, Seoul National University, Yonsei University, Korea University, Pennsylvania State University, and others. He has been leading and participating in consulting and research projects for the European Commission and other public and private institutions.

Dr. Mridul Agrawal (Germany)

Mridul is a physician, scientist, and healthcare entrepreneur dedicated to advancing the care for cancer patients. He is the co-founder of iuvando Health, a Germany-based, innovative digital health and precision oncology company, that enables patients with cancer to find and access life-saving treatments within clinical trials. Prior, Mridul was a research fellow at Dana-Farber Cancer Institute, Harvard Medical School, and the Broad Institute of MIT and Harvard with a focus on blood cancer. He studied medicine at Johns Hopkins University School of Medicine (Baltimore), University of Zurich, and Heidelberg University, where he graduated with a doctorate degree. He also obtained a master's degree in Health Economics from Heidelberg University. Mridul was a scholar of the German Academic Scholarship Foundation (Studienstiftung des deutschen Volkes). He has been honored with multiple highly prestigious national and international awards both in his role as a physician-scientist and entrepreneur.

Dr. Grace Chun Guo (China)

Grace Chun Guo is Senior Associate Dean and Professor of Management at Sacred Heart University's Jack Welch College of Business & Technology. Her research interests include global career management, international migrant management, organizational justice, and corporate entrepreneurship and Chinese Management. Dr. Guo won several national and international awards, including the Academy of Management Best Paper Award, Academy of International Business (AIB) Emerging Scholar Award. Her work on guanxi dynamics and firm development in China won the Wiley Blackwell Management and Organization Review Young Scholar Award. Dr. Guo earned her Ph.D. in Organization Studies from the University of Massachusetts Amherst. She was the former Editor-in-Chief of New England Journal of Entrepreneurship.

Venue Accessibility

1014 Fifth Avenue is in the process of being refurbished and is not fully accessible in its current state. We apologize to our guests and kindly ask you to contact j.isaacs@1014.nyc if you need further information or assistance. We will do our best to enable everyone to join us.