What Is the Difference Between a Polycentric, Ethnocentric, and Geocentric

question 38

Essay

What is the difference between a polycentric, ethnocentric, and geocentric approach to international management? What key factors should a firm consider before adopting one of these approaches?

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Definitions:

Direct Exporting

Direct exporting refers to the process by which a company sells its products directly to buyers in a foreign market without intermediaries.

North American Free Trade Agreement

An agreement among the United States, Canada, and Mexico designed to remove tariff barriers between the three countries.

NAFTA Member Nations

The countries that are part of the North American Free Trade Agreement, aimed at reducing trading costs, increasing business investment, and helping North America be more competitive in the global marketplace.

Trade Restrictions

Measures applied by governments to control the exchange of goods and services across its borders, including tariffs, quotas, and embargoes.