19/10/2012 SESSION 1 THE GLOBALIZATION IMPERATIVE Today’s Agenda (Chapter 1) • 1. Why do we need to understand Global Marketing • 2. Globalization of Markets: Convergence and Divergence • 3. International trade vs International business • 4. Evolution of Global Marketing 1 19/10/2012 Overview • Increasingly global environment for today’s marketing manager • However‚ not a new phenomenon – The Silk Road – Trade Routes from Ancient Rome • The focus should be not the nature but
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procurement‚ and the marketing mix. Whether a company chooses to standardize or adapt its operations depends on its attitudes toward different cultures. These attitudes are defined by three orientations toward foreign culture: ethnocentric‚ polycentric‚ and geocentric. Ethnocentric Model Ethnocentrism has a socio-psychological dynamic that is broadly used to describe human behavior in and between contradistinctive cultures. The roots of ethnocentrism stem from a sociological construct explaining
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a. What are the main advantages and disadvantages of the ethnocentric‚ polycentric‚ and geocentric approaches to staffing policy? What is each approach appropriate? “An ethnocentric approach to staffing policy fills all key management positions in an international business with parent-country nationals” (p. 531). The advantages of the ethnocentric approach are: Overcomes lack of qualified managers in host country‚ unified culture‚ and helps transfer core competencies. The disadvantages of the
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Global Marketing – International Marketing 1. Introduction Steve Carter defines the term of marketing as “the process of building lasting relationships through planning‚ executing and controlling the conception‚ pricing‚ promotion and distribution of ideas‚ goods and services to create mutual exchange that satisfy individual and organisational needs and objectives.” To start with a generally known fact‚ each firm uses its own type of marketing strategy. Therefore‚ companies in different countries
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Class 11: Chapter 4 "In all of your endeavors‚ you have opportunities to be a powerful and positive influence on the lives of other people. But first‚ you must care enough to understand them and become familiar with their personal interests and expectations for life." The Key and Importance of Culture; Nature of Culture and Effects on International Management Leadership; Research Studies of Cultural Dimensions; and Culture Management Leadership: The Globe Project The Key and why is the Issue
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Global Marketing Global Edition Warren J. Keegan Mark C. Green Introduction to Global Marketing Chapter 1 Copyright 2013‚ Pearson Education INTRODUCTION • Global vs. “Regular” Marketing - Scope of activities are outside the home-country market Copyright 2013‚ Pearson Education GLOBAL MARKETING • Create value for customers by improving benefits or reducing price – – – – Improve the product Find new distribution channels Create better communications Cut monetary
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Coca-Cola 8/16/2013 1. What is Coca-Cola’s staffing policy for managerial position: ethnocentric‚ polycentric‚ or geocentric? Does this policy make sense? I believe Coca-Cola’s staffing policy for managerial positioning is primarily polycentric; however‚ I also believe it involves many characteristics of both ethnocentric and geocentric staffing policies as well. According to Dowling‚ et al‚ a polycentric staffing approach involves the multinational enterprise treating each subsidiary as a distinct
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has the edge over Harrison due to his longer tenure with TCT and relevant experience with a similar operation in the U.S. From a polycentric approach‚ Saumitra Chakraborty would be the best selection. Although young‚ he is well connected with the local business community and would be best able to integrate TCT’s operations into the local situation. From a geocentric perspective‚ Jalan Bukit Seng is a good fit. He has a broad multicultural background and experience managing a similar operation
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1. Define at least 5 key concepts underlying structures of cultures. Answer: Speed of messages: It is the matter of how long a message can be understood or how long does it take to understand a person. Messages interactions can be in different speeds depending upon culture. Context: The concept is different in different cultures‚ so a balance is necessary for interacting within each culture. It’s the matter of how much relevant information is in the message‚ and already understood by both
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Course Overview i. i COURSE OVERVIEW Introduction International Business is one of the courses offered by the School of Management‚ Asia e University (AeU). Similar to other courses offered by the School of Management‚ this 3 credit hour course will be conducted over 15 weeks and is usually offered twice yearly in February and September semesters. Course Audience This is a core course for all students undergoing Bachelor of Management (Hons). Thus‚ students should be able to
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