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

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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?


Definitions:

Erik Erikson

A psychoanalyst known for his theory on the psychosocial development of human beings.

Trust Versus Mistrust

The first stage in Erikson's theory of psychosocial development, where infants learn to trust or mistrust their caregivers and the world based on their interactions.

Self-Esteem

An individual's subjective evaluation of their own worth, encompassing beliefs about oneself as well as emotional states such as triumph, despair, pride, and shame.

Emerging Adulthood

A life stage between adolescence and full-fledged adulthood, typically ranging from the late teens through the twenties, characterized by exploration and uncertainty in various aspects of life such as love, work, and worldview.

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