The polycentric approach to management is most likely used by firms that ________.
A) operate internationally the same way they do domestically
B) customize their operations for each foreign market in which they serve
C) analyze the needs of their customers worldwide and then adopt standardized operations for all markets they serve
D) adapt their marketing strategies for foreign markets, but not their finance strategies

Question

Quizplus · Accepted Answer

The polycentric approach to management involves a firm customizing its operations and strategies to suit each foreign market it enters, recognizing and respecting the differences in consumer preferences, business practices, and regulatory environments across countries. This approach contrasts with ethnocentric (operate the same internationally as domestically) and geocentric (standardized operations across all markets) approaches.

The Polycentric Approach to Management Is Most Likely Used by Firms