Discuss various management orientation for overseas business operations.
Answers
Explanation:
There are mainly four IHRM approaches. These include ethnocentric approach, polycentric approach, geocentric approach, and regiocentric approach.
The answer is stated below:
Explanation:
Strategic orientations - Grounded on the business operations nature and producing the products as per the suitability of the foreign customers and environment, firm conducts business with different orientations.
Ethnocentric
It is the approach which include the extension of the domestic products to the suitable markets of the foreign or to dispose the excess domestic production.
Geocentric or Regio
In the orientation of geocentric, the marketers consider the whole world as a single or individual world. The major companies adopting this method in order to get the brand image as well as to occupy the major share of the market.
Polycentric
The orientation of the polycentric, the international marketing comprise of producing different products so that could satisfy the customers of the different countries.
Marketing Mix
Marketing mix comprise of 4Ps that are Promotion, Place, Product and Price. At the level of international, the firms develop or create the strategies which are suitable for the different foreign market.