Explain the Meaning of Ethnocentrism, Polycentrism, and Geocentrism and How

question 65

Essay

Explain the meaning of ethnocentrism, polycentrism, and geocentrism and how those values might affect a multinational company's staffing policy.

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Definitions:

Economy

The system of production, consumption, and distribution of goods and services in a particular geographic region or country.

Production Possibility Frontier

A chart representing the ultimate production possibilities of two items, given certain inputs and the current state of technology.

Unemployment

A situation in which individuals who are capable of working and are actively seeking work are unable to find employment.

Inefficiency

The failure to use resources in the most cost-effective manner, often leading to wasted potential output.