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Title: Attitudes toward Global Management

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Contents

Ethnocentric attitudes. 2

Polycentric attitudes. 2

Geocentric attitudes. 3

References. 4

Business managers make use of various strategies when venturing into new markets. There are three main attitudes that guide all business players in the process of formulating global management principles. They include ethnocentric, polycentric, and geocentric attitudes

Ethnocentric attitudes

When global managers are guided by ethnocentric attitudes, they strategize their operations in a foreign market depending on existing or perceived cross-cultural differences between the two countries. In other words, the company manager will formulate strategies based on the cultural attitudes they have towards the people of that country.

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Some global managers use ethnocentrism to analyze consumer behavior in foreign countries where they plan to venture into. Ethnocentric attitudes, according to Hedlund (1993) are very important since they determine the nature of international reactions among individuals and corporate entities.

Polycentric attitudes

In polycentric attitudes, the norms of foreign countries are adopted in almost all business practices. If multinational corporations do not adapt their management practices to those of the target countries, it becomes difficult for them to operate and compete well in those countries. It also becomes difficult for them to employ local employees since they may not be familiar with new management practices.

Through polycentric attitudes, trade barriers are removed, thereby opening up a global window of business opportunities. When such opportunities are discovered, competition is intensified. Additionally, companies employing polycentric attitudes can easily make the best use of local infrastructure in order to increase productivity.

Geocentric attitudes

Root and Visudtibhan (1992) say that managers with geocentric attitudes adopt a world-oriented view of the business by focusing on the best approaches that people from all parts of the world utilize for maximum efficiency. Geocentric attitudes help managers to be sensitive to all global differences in terms of practices and customs with the aim of choosing the best practices.

References

Hedlund, G. 1993. Organization of Transnational Corporations, London: Routledge.

Root, F. &Visudtibhan, K. (Eds.) 1992. International Strategic Management: Challenges and Opportunities. New York: Taylor & Francis.

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