(Chapter 2) What is the difference between a polycentric, ethnocentric, and geocentric approach to international management? What key factors should a firm consider before adopting one of these approaches?
Polycentric approach to international management is the policy involved hiring and promoting employees who are citizens of the country that host and operates the company. The polycentric approach is best used in order to maintain low hiring costs. Communication is easier and companies run smoother due to the fact the employees are all related in their geographic location. Ethnocentric approach is a staffing policy that is used in companies that has primarily international strategic orientation. While polycentric maintains employees from the same area, ethnocentric is generally adopted by headquarters by sending employees from the home or parent countries to the host country. Ethnocentric approach is best used when teams from a certain home country are sent to a new location to help direct and assist due to their experience. Geocentric staffing approach is used when companies implement a transnational orientation. In such an approach, rather than maintaining the same groups of people or transferring people, employees are selected regardless where they come from. The geocentric approach recruits the best of the best; this approach is consisting with building a strong unifying management network. A firm should take into consideration one, the immigration policy and whether or not they are able to recruit from certain countries, two, if the area they wish to be located in has workers who are capable for the job. Location and laws are key factors in the approach to international management. http://www.mhhe.com/uop/hill3e/student/olc/ch18s_cs.html
3.(Chapter 3) Contrast common law, civil law, customary law, and theocratic law. Explain their relevance to...