When an international firm follows a strategy of choosing only from the nationals of the parent country, it is called .....

HUMAN RESOURCE MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

When an international firm follows a strategy of choosing only from the nationals of the parent country, it is called ____

A	polycentric approach
B	geocentric approach
C	ethnocentric approach
D	None of the above

Explanation:

Detailed explanation-1: -When a company follows the strategy of choosing only from the citizens of the parent country to work in host nations, it is called an ethnocentric approach. Normally, higher-level foreign positions are filled with expatriate employees from the parent country.

Detailed explanation-2: -Example of Polycentricism McDonald’s is a prominent example of a firm following polycentric approach. Having originated in USA, its menu in USA is centered around their local preference which is beef and meat. When coming to India, it realized that Indians are culturally averse to eating beef.

Detailed explanation-3: -A company with a geocentric orientation views the entire world as a potential market. The basic assumption of this approach is that all human beings are alike. A geocentric company develops standardized marketing mix, projecting a uniform image of the company and its products for the global market.

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HUMAN RESOURCE MANAGEMENT