BUS 200 Study Guide - Midterm Guide: Foreign Direct Investment, Masculinity, Individualism
Document Summary
Polycentric the view a company holds when they are expanding into the global market. They learn from the cultures they are entering and emphasize the importance of cross cultural skills. With a polycentric view a company would most likely see how other companies are profiting from selling similar products and then attempt to replicate the method to a certain degree followed by improving on it. Polycentric is basically trying to keep all different cultures in mind in the course of operating one"s business while geocentric is adapting to the culture of the country one is in. Geocentric on the other hand is where a companies view is lead by their global corporate goal/focus, but are open to adapting to the local responses. In other words, the company has their initial strategy for entering the market that they think will work the best, but depending on how the local consumers react to their strategy they are willing to modify it.
