Compare and contrast ethnocentric, polycentric, and geocentric attitudes toward global business.

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In this global economy, businesses have tended to branch out throughout the world, and they often take one of three approaches to doing business across the globe: ethnocentric, polycentric, and geocentric (not egocentric). Let's look at each of these attitudes.

Ethnocentric companies are oriented toward their home countries. They hire employees primary from their home countries, and their business practices are geared to their own countries and cultures. These companies also use the same domestic marketing techniques no matter where their markets are, domestic or foreign.

Polycentric companies, on the other hand, tend to focus more internationally. These companies concentrate on hiring in their host countries, following the cultural practices of these nations, and adjusting their marketing strategies to each foreign market in turn. Polycentric businesses treat each host country and market individually.

Finally, geocentric companies have a worldwide focus. These companies do not prefer either the practices of the home country or the host country. Their concentration is fully international, and they hire employees from across the world for their qualifications and skills. These companies are comfortable working anywhere, creating business methods and marketing that are truly global in nature.

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