International Business Management · Unit 8 · 8 hrs
Functional Management and Operation of IB
Exam-focused notes for Functional Management and Operation of IB (International Business Management, MGT488): what the TU syllabus asks and how it has actually been tested, with 5 solved past questions from this unit.
What this unit covers
- Polycentric, ethnocentric, regiocentric and geocentric approach in functional management of IB
- Global marketing strategies: Product strategy, distribution strategy, promotion strategy, pricing strategy
- Global production strategies: location, outsourcing, managing global supply chain
- Global finance strategies: sources of fund, tax practices, tax haven
- Global human resource management strategies: Staffing policy, expatriate management, compensation, cultivating global mindsets
Polycentric, ethnocentric, regiocentric and geocentric approach in functional management of IB
Explain the geocentric approach in functional management of international business. [5]
The geocentric approach is one of the orientations within the EPRG(I) framework (Ethnocentric, Polycentric, Regiocentric, Geocentric) used in international business. In this approach, a company strongly believes that it is possible to utilize one unified ty...
Full solved answer →Describe the ethnocentric and regiocentric approach in functional management of international business. [5]
The EPRG framework (Ethnocentric, Polycentric, Regiocentric, Geocentric) is a model used in international business to determine how companies manage their operations and approach functional management in foreign markets. Below are two key approaches from th...
Full solved answer →Explain different approaches in functional management of international business?[10]
In international business, companies must decide how to manage their operations, allocate resources, and coordinate activities across different countries. The EPRG(I) Framework (Ethnocentric, Polycentric, Regiocentric, Geocentric, and sometimes Indocentric)...
Full solved answer →Global marketing strategies
Explain the global marketing strategies. [5]
Global marketing is the full process of planning, creating, positioning, and promoting products in a global market. It goes beyond simply selling products internationally; it involves adjusting a company's marketing strategies to adapt to the conditions of ...
Full solved answer →Global finance strategies
Mention the sources of fund on Global finance strategies. [5]
Global finance strategies involve identifying and utilizing various sources of funding to support international business operations. The key sources of fund are as follows: --- Equity financing refers to raising funds by issuing shares of ownership in a com...
Full solved answer →Make Unit 8 stick
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