Polycentric, Ethnocentric, and Geocentric Approach to International Management

Free enterprise is an economic system in which a private business operates in competition and largely free of state control. In the movie Roger and Me free enterprise

1. High pressure for local adaptation combined with low pressure for lower costs would suggest what type of international strategy: A. global B. multidomestic C. transnational D. overall cost leadership 2. Foreign direct investment includes the following form of entry strategy: A. licensing B. franchising C. joint ventures D. exporting 3. According to Michael Porter, firms that have experienced intense domestic competition are A. unlikely to have the time or resources to compete abroad. B. most likely to design strategies aimed primarily at the domestic market. C. more likely to design strategies and structures that allow them to successfully compete abroad. D. more likely to demand protection from their governments.

the freedom to choose where and how they produce I.C.1. Fewer goods and services are produced and fewer wants and needs can be satisfied. I.C.2. so that benefits gained are greater than costs incurred I.D.1.

One of the first economic concepts is “Freedom of Enterprise and Choice”. Which is stating that Americans can choose how they want to use their own resources to create products and sell their products. It also states that workers are free to have a job they are qualified for, as well as buyers having the right the purchase any product of their choice. Today, this right is still protected under the US Constitution excluding any laws that deter businesses from doing any harm to the public with the use of their products.

The definition of freedom depends entirely on how the phrase “freedom from…” ends. Perhaps a most straightforward understanding of freedom is the laissez-faire emphasis on limiting the power of government to interfere in economic and social matters. In this state of absolute freedom, however, inequalities exist between people, so that freedom from a controlling government does not imply individuals’ freedom of contract, movement, legal protection, equal rights through citizenship, or political voice. In light of the persistence of slavery in the US through the 19th century, freedom as an individual’s legal status separated people who could be citizens from people who were lifelong slaves. Even among legally free people, economic

Taken together, these economic resources form the potential of the national, regional or world economy. In this aspect, free-enterprise resources are becoming one of the most important economic reserves.The issue of free-enterprise is significant and urgent nowadays. All civilized nations

free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. When using this, it allows people to determine the success or failure of an economic endeavor. Many business owners have become successful while using this, like Mark Zuckerberg.

The Free Enterprise system is a type of economy where products, prices, and services are determined by the market instead of being determined the government. Free enterprise refers to an economy where a businesses is free from the government’s control. There are five main principles of the Free Enterprise System. These five parts are, the freedom to choose our businesses, the right to private property, the profit motive, competition, and consumer sovereignty.

Milton Friedman’s Capitalism & Freedom is one of the most important books regarding economics of the 20th century. His thoughts laid the groundwork for the emerging modern conservative movement, which was an evolution of the 19th century beliefs surrounding liberalism. Friedman’s major themes of his most famous work consist of the roles of competitive capitalism, as well as the role that government should play in a society “dedicated to freedom and relying primarily on the market to organize economic activity.” The book touches on a multitude of other economic issues; however, his first two chapters regarding the major themes of the book are most

The free enterprise system uses a thing called gross domestic product, which is the value of all goods and services produced in a country in a given year. When value comes into play it is based on the utility, which is the usefulness of the product and the scarcity, which is the limited availability of it. Value today is not what it used to be like many years ago. People are not realizing it, but there is a big problem that is only going to get worst. Which is that the people's wants are unlimited while material is scarce.

There are three main economies in the world today, market economies, traditional economies, and command economies. Comparing these three economies shows the major differences between them. Each one has its own advantages and disadvantages. They all have different ideas about who controls and owns all resources. They all have very good ideas and maybe some areas that need

International marketing – Ethnocentric Orientation In this kind of orientation a firm assumes that the process of home country is superior to the rest of the world. They consider that all markets are similar and assume that products and practices that succeed in home country will be successful anywhere. Multinational Marketing – Poly centric Orientation In this kind of orientation firm believe or assume that every country in which a company does business is unique. In order to succeed, they adopt the policy of applying business and marketing strategies differently in different countries. Global Marketing – Geocentric Orientation In this kind of orientation firms view the entire world as a potential market and attempt to develop integrated global strategies. A global company can

INTERNATIONAL MANAGEMENT: CULTURE, STRATEGY, AND BEHAVIOR, EIGHTH EDITION Published by McGraw-Hill, a business unit of The McGraw-Hill Companies, Inc., 1221 Avenue of the Americas, New York, NY 10020. Copyright © 2012 by The McGraw-Hill Companies, Inc. All rights reserved. Previous editions © 2009, 2006, and 2003. No part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written consent of The McGraw-Hill Companies, Inc., including, but not limited

Economic freedom is the ability for an individual to prosper with minimal intervention from government. In an economically free society, individuals are empowered to succeed or fail based on their own individual abilities. Higher levels of economic freedom lead to higher levels of economic growth and income. The level of economic freedom varies among different regions and countries across the globe. Thus, levels of prosperity and wealth also vary widely across the globe. The Heritage Foundation, in cooperation with The Wall Street Journal, researches several factors to measure economic freedom across the globe. The Foundation issues the results of their research in the Index of Economic Freedom. The Foundation

Second to a limited government is the economic liberty which frees people to do their wish in the economic sphere without