The Ethnocentric Approach to Management Is Most Likely Used by Firms

question 16

Multiple Choice

The ethnocentric approach to management is most likely used by firms that ________.

• A) operate internationally the same way they do domestically
• B) customize their operations for each foreign market in which they serve
• C) analyze the needs of their customers worldwide and then adopt standardized operations for all markets they serve
• D) adapt their marketing strategies for foreign markets, but not their finance strategies

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Definitions:

Income Equality

A situation in which earnings are distributed evenly across a population, minimizing the gap between the highest and lowest incomes.

European Countries

Nations located within the continent of Europe, each characterized by its own government, culture, and economic system.

Means-Tested Programs

These are government assistance programs only available to individuals who fall below a certain income level.

Low Incomes

Earnings that fall below the average or median income level within a given region or economy.