CHAPTER 1 INTRODUCTION TO GLOBAL MARKETING SUMMARY A company that engages in global marketing focuses resources on global market opportunities and threats. Successful global marketers such as Nestle‚ Coca-Cola‚ and Honda use familiar marketing mix elements – the four Ps – to create global marketing programs. Marketing‚ R&D‚ manufacturing‚ and other activities comprise a firm’s value chain; firms configure activities to create superior customer value on a global basis. Global companies
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Charles Martin in Uganda Charles Martin‚ a 29-year-old American who had worked for Hydro Generation (HG) for 2 years before embarking on the Ugandan damn project. Martins’ educational experience‚ a degree in African Studies from the University of Wisconsin as well as a MBA from the University of Maryland coupled with his experience working through the Peace Corps made Martin uniquely qualified to work for HG in their new venture in Africa‚ a hydro-electric damn in Uganda. During Martins tenure
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economic and socio – cultural factors. Other factors include trust and personal moral merits. There are three approaches to staffing policy which a multinational firm can adopt. These are the ethnocentric approach‚ polycentric approach and the geocentric approach (Hill‚ 2011). A firm using the ethnocentric approach fills all key management positions with parent country nationals; this approach is often used when operations are carried out in less developed countries (Hills‚ 2011). Although this
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The external Environment of business refers to the external forces which consist of legal-political‚ economic and culture‚ that play a part in influencing the direction that the firms take. The legal element of the environment is the framework of rules laid down by the government which business must operate. The labor laws protect the rights of the NBA players by providing for contracts of employment ‚ compulsory insurance ‚ recognition of National Basketball Association and industrial
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HUMAN RESOURCE MANAGEMENT IN INTERNATIONAL ORGANIZATIONS Sonja Treven* Received: 08. 09. 2001 Review Accepted: 15. 11. 2001 UDC: 658.3 In the paper‚ the author first presents various approaches to the management and recruitment of employees in subsidiaries that the company has established in different countries. Then‚ she turns her attention to the basic functions of international human resource management‚ among them recruitment and selection of new employees‚ development and
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attitudes of Martin and Green? Ethnocentric‚ polycentric‚ or geocentric? * Ethnocentric is judging a culture solely by its values and standard of one’s own culture. Hence Green’s attitude was ethnocentric‚ as he judged the Ugandan culture by comparing it to the norms and culture of his company. The company’s culture and foundation was based on Christian beliefs and hence they were contradictory to the country they had stationed in. * Martin’s attitude was more geocentric‚ although he did not believe
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Executive Summary In a highly competitive and ultra-dynamic business environment in order for Morden business to remain competitive and thrive‚ it is no longer good enough to compete and serve at a local scale‚ more and more business have seen the need and benefit of expanding their business on a global scale. Expanding the business internationally will allow a broader market which in turn will help the organisation stay competitive even gain a competitive edge‚ it will also result in increased
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International Recruitment‚ Selection‚ and Training Strategies The world has been rapidly transforming due to the changes in technology‚ innovations‚ and the reduction of trade barriers into and out of countries which have permitted globalization. Due to globalization human resource management has been forced to take a more international approach‚ and has demonstrated that a more effective management of human resources internationally is imperative for the success of companies in international business
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Question 1: BRIC economies – a critical overview Part 1: New emerging markets and BRIC. Over the last decade there have been significant changes to the world economy and the way once traditional Multinational corporations do business. This has been primarily due to the rise of new markets‚ particularly the BRIC economies. “The greatest effect of globalization is the shifting of the world ’s wealth centers. Former developing countries are rapidly becoming richer through their use of
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international operations. Four distinct predispositions toward doing things in a particular way: 1. Ethnocentric 2. Polycentric 3. Regio-centric 4. Geocentric strategic predisposition • Ethnocentric predisposition – A nationalistic philosophy of management whereby the values and interests of the parent company guide strategic decisions. • Polycentric predisposition – A philosophy of management whereby strategic decisions are tailored to suit
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