cronyism vs favouritism

cronyism and favouritism both are nouns.

Word	Noun	Adjective	Verb	Adverb
cronyism	Yes	No	No	No
favouritism	Yes	No	No	No

As nouns, favouritism is a hypernym of cronyism; that is, favouritism is a word with a broader meaning than cronyism:

cronyism: favoritism shown to friends and associates (as by appointing them to positions without regard for their qualifications)
favouritism: unfair treatment of a person or group on the basis of prejudice

Other hypernyms of cronyism include discrimination, favoritism.

cronyism (noun)	favouritism (noun)
favoritism shown to friends and associates (as by appointing them to positions without regard for their qualifications)	unfair treatment of a person or group on the basis of prejudice
	an inclination to favor some person or group