CIA-1B

INTERNATIONAL
BUSINESS
EPRG APPROACHES IN TRAVEL &
TOURISM INDUSTRY

5 BBAH-B
Udvav Gautham – 1723138
Darshana Kothari – 1723149
Tanushree Agrawal Todi - 1723176
ETHNOCENTRIC APPROACH – MAKEMYTRIP.COM

The Ethnocentric Approach is one of the four methods of orientation of international

recruitment wherein, a company considers its culture the most unique and thus does not change
its way of approaching the market from country to country.

One company that fits into this category of ethnocentric approach in the travel and tourism
industry is Make My Trip. Make My Trip Limited is an Indian travel company founded by
Deep Kalra, an alumnus of IIM-Ahmedabad in the year 2000 which has an online platform
for its business operations. Headquartered in Gurugram, Haryana, the company is a pioneer in
providing online travel services which includes flight tickets, holiday packages, hotel
reservations, in both domestic and international markets. In addition to this railways and bus
tickets in the Indian sub-continent.

The one thing special about then is their initiation of their work in USA and not in India. It
launched in the US market in the year 2000 to cater to the overseas Indian community for the
US to India travel needs. However, they started their Indian operations in September 2005,
offering services relating to the travel and tourism to Indian travellers.

Application of this approach to the MNC

The company’s website has the following introduction, “The leading player in online flight
bookings in India, MakeMyTrip offers great offers, some of the lowest airfares, exclusive
discounts and a seamless online booking experience. Flight, hotel and holiday bookings
through the desktop or mobile site is a delightfully customer friendly experience, and with
just a few clicks you can complete your booking. With features like Instant Discounts, Fare
Calendar, MyRewards Program, MyWallet and many more, the overall booking experience
with MakeMyTrip constantly adds value to its product and continues to offer the best to its
customers.” This shows us the kind of market they are majorly into, India. The basic
objective of this approach is profitability but this goal is met through the strategy of exporting
the same products as the parent country and making no modifications for the purpose of
blending into the host country’s market. They aim at the domestic market, their maximum
profit comes from here but have have global connections like USA in the above scenario.
In Ethnocentric Approach, the key positions of an organization are filled with employees of
the parent country. The assumption that is made here is that the employees of the parent
country know the objective of the company the best and thus will work for the wellness of it.
All the managerial decisions, the mission, vision, objectives are formulated from the
headquarters and the same is expected to be followed by the host company. The company
follows the values of their own. Thus on the basis of the skills required and the willingness of
the candidate to mix with the organization’s culture i.e. the parent country’s culture.

The key reasons for the MNC to go in for that particular approach

 Vision of the company- The vision of the company as mentioned on their website,
“At MakeMyTrip, our vision is to make travel simple and fun for all, and our core
values guide us in making this possible. These core values can be seen in the projects
that we undertake, and the way in which we solve problems for our customers. They
are a representation of OUR BEING & OUR DOING. Each member of the
MakeMyTrip family is guided by them each and every day.” is a clear statement of
imparting their core values and culture in all their work. When taken a deeper look into
their “Being” particular of the vision we understand that they give high level of
importance to their three C’s: Curious, Creativity and Caring. However, the “Doing”
particular involves, Customer focus, Commitment to results and Continuous
improvement. All these indicate priority that they have given to their company’s values
and looking ahead to implement these is every direction they expand.
 Penetrate the Domestic market- The Company, homegrown, has stayed ahead
of time and the curve in terms of competition to meet the ever-changing demands of
the global and domestic travel market and steadily establishing itself as the leading
player in its home market. The evidence of this seen through various news articles of
attracting investors to its business model, taking over major competitors like Goibibo.
However, the ‘home’ market is not yet fully ready to grab the conveniences offered by
an online travel facilitator especially the rural regions.
 Profitability- As mentioned before the main motive of any company is profitability.
The market of MakeMyTrip is provided mainly by the Indian economy. Indian
economy is growing at rates never seen before and so is the travel and tourism sector
of the nation. The factors contributing to this boom are the ever growing population of
India and tourist places. This has made India the most ideal country to operate in.
  Capture the global market- MakeMyTrip has proactively diversified its product
and offerings, which has added a variety of online and offline presence. It has stayed
ahead of the curve by continually evolving with the technology and innovation to meet
the ever-changing demands of the rapidly developing global travel market.

Threat areas identified with regards to the approach

The weaknesses are the areas where the company is lagging behind and thus has scope for
improvement, build on the competitive advantages and strategic positioning. The following are
the few weak areas of MakeMyTrip regarding the ethnocentric approach they follow:

 High chance of Failure- In this approach of ethnocentrism the chance of failing in the
global market is high. There is a high possibility of a similar business model already
existing in that particular market, to which the host country might be inclined and hence
it is difficult to snatch. Another major reason can be the resistance of the company to
change their way of operations according to the host country methods.
 High costs of gaining market share- The costs of successfully operating in the global
market is very high especially when all the work has to be imported from the parent
country i.e. India in case of MakeMyTrip.
 Downfall of the image of the company- A major reason can be the resistance of the
company to change their way of operations according to the host country methods. The
target market of the host country might not get a good indication from the company’s
mission to enter the market.
 No company can be completely ethnocentric- The cultural clashes between the parent
country and the host country are inevitable in today’s market. No company can go
global with a completely ethnocentric approach as the world is now into the stage of
accepting cultures and mixing well with the globe.
 Difficulty in recruitment- The staff of the parent country may find it difficult to adjust
in the host country due to the cultural differences. Difficulty in guiding employees
living far away from the parent country. Missed out the opportunity to hire the best
personnel from the host country.

Strategies formulated with respect to this approach

Make my trip’s marketing approach, involved campaigns across key platforms with strong
emphasis on customised content for each of the platforms encouraging customer engagement.
With strong presence across the key social platforms including Facebook, Twitter, Pinterest
and YouTube and customised content that users can benefit, MakeMyTrip empowered the
traveller allowing them build and incorporate their own travel itineraries. While the tone of
communication has remained consistent, the mode of delivery of the content is tailored to suit
each platform.

 360 Degree Approach- The domestic market is targeted from all the directions in this
strategy so as to not leave a single citizen out of their target market. An incorporated
360 degree way to deal with web-based social networking showcasing is the key feature
of MakeMyTrip's internet promoting system. A class of business that is wealthy in
feeling and energy, MakeMyTrip utilized this through exceptionally captivating content
that is all around made to suit the distinctive internet based platforms.
 Facebook & Twitter- The usage of facebook suggests that it is trying to cater to the
newer generations as they are well-versed with the techmological advancements and
hence use the platform of MMT effectively. On Facebook, MakeMyTrip has utilized a
shifting way to deal with drive steady commitment through sharing, remarking and
loves. Their substance system crosswise over Facebook and Twitter included a fair
blend – going from posts that advanced their offers, to topical travelogs, travel tips and
incidental data taking into account a wide statistic of private company and relaxation
voyagers. By productively utilizing hashtags, for example, #Luxury Travels, #Nature
Trips, #Adventure Trips, #ManMade miracles and #Relaxing Holidays, each substance
piece had an unmistakable Call to Action. MakeMyTrip likewise had a virtual travel
bolster work area accessible for explorers with chunks of data explicit for voyagers.
 Pinterest- MakeMyTrip is likewise one of only a handful couple of brands to have
effectively utilized its quality on Pinterest. With more than thirty sheets and checking,
they spread a scope of classes, for example, Best Travel Destinations, Food and Drink,
Beaches, Festivals, Unique Places, Museums and Art from one viewpoint, and an entire
scope of pleasant areas titled with the name of explicit goals, for example, Kashmir,
Rajasthan and such.
 Offers and Discounts- These are the two words which have the power to attract the
attention of the whole of the Indian economy. The Indian rational consumer as soon as
sees the word offer, sale, cashback, discount, etc is immediately attracted to the
company. This strategy not only helps improve the sales but also promote the company
 through word-of-mouth. The ethnocentric approach can effectively and efficiently use
this as a strategy to cater to the needs of the local market and attract the locals.
 Youtube- Makemytrip's YouTube station is a center point for their Television plugs,
and recordings that spread everything from intriguing travel goals, inns and travel tips.
With focused YouTube advancements the brand has more than 5000 endorsers and
400,000 perspectives for its recordings.
 Innovative Campaigns- Creative crusades, for example, Hamne Toda Vaada Toh Pay
Only Aadha where clients could guarantee half discount in the event that they were
miserable and #ThanksFor10k where every one of the clients who signified 10,000
devotees on Twitter were expressed gratitude toward – expanded brand
acknowledgment and featured the nature of their items and administrations.
 Customer Service: Client centricity being one of their fundamental beliefs,
MakeMyTrip made an interpretation of this into the online space too. They utilized the
online networking viably for client administration by giving reactions to inquiries from
clients handling issues, controlling them, or just giving required data. One take a gander
at MakeMyTrip via web-based networking media demonstrates that they are not scared
of analysis – they don't erase negative criticism, and take an extremely consoling tone.
The Indian market is still not well versed with the automated customer service methods
and reply on the customer service executives to solve their grievances. Thus
MakeMyTrip has made sure to have an excellent approach to the customer service and
ensure maximum satisfaction. Hence, cater to the needs of its own domestic market.

View point on the practicality and necessity of this approach to today

In my viewpoint the approach of ethnocentrism is practical and necessary for

MakeMyTrip only to cater to the Indian market. All the strategies, values,
mission, culture that they have set into their organization comes through their
headquarters in Delhi. The company has seen huge success in the domestic
market only because of their ethnocentric approach. For a company like
MakeMyTrip, where more than half the revenue is generated from the parent
country’s market this approach is unavoidable. Their plans to expand into other
businesses, domestically also will only work with this approach. Hence this
makes the ethnocentric approach very important consideration for MakeMyTrip.
Do you think the approach is still lively or outdated in the context of
International Business?

In the context of International Business according to me this approach is outdated

for most of the businesses. This is because the world is considered one now and
the countries no more believe in making themselves self-sufficient in everything
but instead work on the models of absolute and comparative advantage. When a
company follows the ethnocentric approach their costs of setting foot globally
becomes very difficult and from all the directions costs are incurred, no matter it
the recruitment of employees, or setting of mission statement, or taking important
decisions of the company. Clash of cultures is unavoidable in a scenario where a
company from another country sets their office in the host country and tries to
implement the company as it is in the parent company. A company will get global
appreciation and eye when they successfully blend into the culter of every country
and take care of their needs. The best example of this can be MC Donalds, they
have their presence all over the global and have customized their menu for every
necessary region just as to show the world that it is not difficult for them to adapt
to the changes. In the 21st generation is becomes utmost important for any
company having international connections to approach every step uniquely,
where values of others have to respected and adaptation is a must.
POLYCENTRICT APPROACH – AIRBNB

Polycentric approach
This approach states that each and every country has their unique culture and values. It
acknowledges the different needs a country has and business units which follow this approach
make plans and strategies which suit the county’s requirement and also matches with its culture.
It uses country specific business strategies to develop in the counties in which they want to
enter. Large companies which follow this approach are also referred to as MNC’s.

Airbnb
Founded in 2008, Airbnb exists to create a world where anyone can belong anywhere,
providing healthy travel that is local, authentic, diverse, inclusive and sustainable. Airbnb
uniquely leverages technology to economically empower millions of people around the world
to unlock and monetize their spaces, passions and talents to become hospitality entrepreneurs.

With homes and bedrooms available in 34,000 cities and 190 countries, Airbnb operates in
more than double the number of territories.

Application of this approach to the company

Airbnb is a multinational company which operates globally and has services customized
according to the country and has developed its strategy based on the country. It has strategies
based on how to expand its market globally with a view of satisfying the market in which it
enters.

Airbnb aims at providing authentic local accommodation to its customers. It alters its business
strategies according to the country in which it operates.

For example: Airbnb entered India six years ago and has grown at a rapid pace since then.
Now, it is looking to move to the next level by stepping off the beaten track and entering areas
that are not so big on the tourist map. So, instead of just being in big tourist destinations such
as Goa (where it has 5,000 homestays) and Rajasthan, it is looking at relatively untapped
locations in the hinterland such as the villages of Kutch in Gujarat and the hills of the northeast.
As part of this plan, it aims to create 50,000 “hospitality micro-entrepreneurs”—in other words,
homestays—in India over the next two years, says Chris Lehane, Airbnb’s head of global
policy and communications.
Key reason for the MNC to go in this approach
 Vision of the company : the vision of the company is “to be the world leader of internet
based accommodation industry”. The main aim of the airbnb is to go global hence in
order to go global is has to follow a polycentric approach in order to achieve its vision.
Airbnb aims to achieve its vision by the end of 2021.

 Increase market share: The other reason why airbnb follows this approach is the it goal
is to achieve an overall 80% market share from the existing approach. In order to do
that it has to cater the requirements of the country in which it operates.

 Penetrate the existing market: airbnb aims at turning this world into a home in which
all of us belong. It wants to enter each and every market. Hence is has to develop
strategies to penetrate existing markets by going even more deep and local into the
existing market. Hence in order to penetrate the market it has to develop strategies
keeping in mind the polycentric approach.

 Diversify market: diversification means entering into a new market and airbnb also
wants to enter new markets. It aims at expansion of its business. For example: aribnb
has acquired three low cost hotels in order to expand in middle east and Africa while
adapting to cultural difference.

 Public acceptance: the most primary reason for any company to follow this approach is
to obtain public acceptance. Airbnb being a totally new concept of travel has to adopt
the polycentric approach in order to attain acceptance form the customers and also
attract more customers.

Threat areas identified by the MNC with regard to this approach

 Coping up with local culture: the biggest problem that any company faces while
following a polycentric approach is that it has to understand local market and make
 strategies that suit the local market. Airbnb is am American company thus it faces many
difficulties while entering into an Asian market due to cultural differences.

 Legal regulations: airbnb in order to enter the international market has to comply eith
all of the legal regulations of the marke tin ehich it plans to enter. Many countries have
strict policies regarding the tourism and hence the legal restrictions act as an threat to
airbnb.

 High level of competition: airbnb aslo faces high level of competition from local
competitors in the market. For example: oyo rooms and many local hotels present in
india act as an huge competitor for airbnb to deal with.

 Lack of acceptance from customers: aiabnb unlike any other company has a totally
unique concept of renting a property for tourism purpose. It also provides the customers
with host which guide the customers through out their vacation. This concept is pretty
unique and hence many customers might hesitate to go for such a unique concept.

 Security and safety: Airbnb has greatly developed safety and security to prevent
crimes but this issue still constitutes a matter of risk to Airbnb.

Strategies formulated by Airbnb with regard to this approach

 Related Diversification:
Acquire small low cost 3 hotels in the following destinations in orderto expand in Middle east
and Africa while adapting to culture difference:-
A hotel in Morocco with estimated cost of 30 million USD- resorts in Egypt, especially in
Hurghada as a low cost destination with estimated cost 40 Million USD.2.

Make partnership agreement with Tui International and FTI (tour operators),that will help
control the demand in the new hotels also support our goal. These tour operators could help in
arranging flights, transportation, and local tours and excursions for guests.3.
Make partnership with Uber that will help in arranging the internal transportation and local
tours for the guests.

 Product development: Adding an option “From home to home” Utilizing its partnership
with Uber, and Tour operators. Where guests can choose
full package including flights, internal transportation and local tour &excursions.2.

 Developing the following programs:-

 Culture exchange program for young people-
 Environmental Awareness program
Market penetration: Increase the market shares from the existing markets through greater
marketing efforts, utilizing social media tools, Investing in Google display advertising with
bannered campaigns including images from actual housing being offered by Airbnb
Market development: The recommended ways with help Airbnb to develop Middle East
and Africa & take good share from it

Your view point on the practically and necessity of this approach to today’s
MNC

In this approach, a company gives equal importance to every country’s domestic market. Every
participating country is treated solely and individual strategies are carried out. This approach
is especially suitable for countries with certain financial, political and cultural constraints. This
approach is the best in for MNC’s to apt in such a globalized world.

This approach is best suitable and necessary in today’s world because of the following reasons:

 Identification of prospective customers in each country: Polycentric approach's primary

advantage is that custom designed strategies for each unique international market will
help in reaping the full benefits of the market potential of individual countries or
markets.

 Suitable for a globalized world: this approach is best suited or an integrated market.
This approach aims at entering the global market and cater the needs of each and every
 market. They customize their services and formulate strategies to make the customers
of the market happy.

 Great means of expansion for the company: this approach also acts as an great means
for the company to develop the market and also increase their market share.

Hence, due to the above mentioned reason we can justify the practicality and necessity of
polycentric approach in todays world. It has numerous advantage which makes it apt for such
a globalized world in which we live. Therefore for large MNC it is necessary for them to go
for polycentric approach in order to walk the road of prosperity.

Do you think this context is still lively or outdated in the context of

international business

I believe that polycentric approach is the most suitable approach in context o international
business as it lays importance to globalizing the world economy. This approach is blooming as
all the companies have started realizing that in order to prosper they need to enter the world
economy. We can observe a great shift in the corporate mindset of many large MNC’s as they
have realized the importance if polycentric approach and thus have started developing
strategies that as according to the polycentric approach.

Thus in order to conclude we can say that polycentric approach is lively and will continue to
exist in the international market.
REGIOCENTRIC APPROACH – OYO ROOMS

Regiocentric approach, is an international business approach model wherein the company

considers a group of countries as one region of its operations expansion like fro instance, India,
Pakistan, Nepal, Bhutan and Bangladesh as one region for supply of Coca-Cola. Here the
managers are selected from different countries, within the geographic region of business.

Oyo rooms

Oravel Stays Private Limited, trading as OYO, is India's largest hospitality company
consisting mainly of budget hotels. It was founded in 2013 by Ritesh Agarwal and has since
grown to over 500 cities in India, China, Malaysia, Nepal, the United Kingdom, the United
Arab Emirates, Saudi Arabia, the Philippines, Indonesia and Japan, and operates 450,000
rooms globally as of January 2019

Application of this approach to the mnc

Oyo rooms follows a regiocentric approach. In this approach a company finds economic, cultural or
political similarities among regions in order to satisfy the similar needs of potential consumers. For
example, countries like Pakistan, India and Bangladesh are very similar. They possess a strong regional
identity. Similarly oyo rooms too consider india, Nepal and China to have a similar culture and hence
applies similar strategies in this region to attract customers and increase market share.

Key reason for the MNC to go in this approach

 Improved coordination and control- As many potential markets are targeted and are
treated as one it is easy for any company to have a better control over them as they
become interrelated. These markets also show the same kind of characteristics so
any problem arising in one of them can be prevented form arising in the other one.
 Saves cost of market research- As said above the markets having similar
characteristics are segmented as one market in the eyes of the company and having
same situations in all the market saves the research cost as the company only has to
go with one or two market in the whole region and gets to know about others
automatically.
  Easy execution on plans and policies- When the markets are interrelated then any
situation arising in one market is most likely to occur in the other markets also,
same happens with the execution of plans and policies, if a certain policy or strategy
works or fails in one market it is most likely to have the same effect in the other
markets also.

Threat areas identified by the MNC with regard to this approach

 Competition- Regio centric approach focuses on making a region out of several
local markets which are having similar characteristics. And when any company
dives into the local market it is most likely to face some amount of competition
form the local players over there.
 Lack of similarity of culture in the defined region- The market may show the
same characteristics but the culture and the mindset of people there vary form
region to region. This may create a hinderance in the operations of the company
as they have to formulate different strategies for dealing with each and every
culture-based issue.
 Threat from conservative mindset of people- Usually happens in some of the
backward regions what people tend to carry a conservative mindset with them
and this may create hinderance to any new company going into that region. This
type of people always stick to the traditional things and it is very hard for
companies to get them to try new things.

Strategies formulated by oyo rooms with regard to this approach

 Application of similar marketing strategies in Nepal and India- India and Nepal mostly
have the same culture and market situations, it is easy for any company to capture both
the markets together as one strategy will work on both of them. This saves their cost
on planning and application of policies also.
 Budget friendly options- Oyo rooms are famous for their budget friendly rooms which
comes with a service quality which is worth the tag. People in the markets of India and
Nepal are mostly price sensitive so will not go for high end options. This is why the
best way to capture this market is to become soft on the pricing side.
  Building public relations on the host county- example Bimalendra Nidhi, Nepal Deputy
Prime Minister, opened the Nepal property of Oyo Rooms, along with Manjeev Singh
Puri, Indian Ambassador to the Himalayan nation.

Viewpoint on the practicality and necessity of this approach

This approach in my viewpoint becomes absolutely necessary sometimes when a company

goes global at a high velocity. Like for instance the expansion of Coca-Cola in the world,
almost covering the whole of the globe is not an easy task to perform at all in a polycentric
manner where every country is considered unique in its own way. When using this approach
countries of like mind, when the positioning of the product is very similar in all these countries,
other marketing related actors also match is when the regiocentric approach can be effectively
used to reduce the cost of going global and increasing the chances of success.

Do you think this approach is still lively or outdated in the context of

International Business?

The above approach is definitely lively in the context of International Business in today’s
market due to the high convenience that it provides to the company to handle its operations
effectively. When a company discovers a regiocentric approach opportunity, I suggest they
implement the strategy as it would benefit the company for sure in the form of less input of
resources but the output will remain the same it terms of transport, recruitment, raw materials,
marketing strategies etc. Hence, I would strongly support the usage of this approach from the
global perspective.
GEOCENTRIC APPROACH – EXPEDIA.COM

What is geocentric approach?

A geocentric company is one where the management looks at opportunities on a global scale.
Instead of focusing on the way that business gets done in a given country, it looks at how to
conduct business anywhere in the world, based on common ways of communicating.
Geocentricity can be applied to hiring practices when you mix people from all of your locations
equally based on their skills rather than their home country.

Expedia- Founded in October 1996 as a division of Microsoft, Expedia Group is an American

global travel technology company. Its websites, which are primarily travel fare aggregators and
travel metasearch engines, include CarRentals.com, Cheap Tickets, Expedia.com, HomeAway,
Hotels.com, Hotwire.com, Orbitz, Travelocity, trivago, and Venere.com. According to Rich
Barton, the company's first CEO, the word "Expedia" is derived from a combination of
exploration and speed.

Application of this approach to the MNC

 Expedia uses the geocentric approach as they want their consumers to have a global
experience. The MNC operates all over the globe and hire employees from each and
every part of it, this way there is a section of highly competent employees available not
only in the head quarters but also in the subsidiaries and each and every office is having
some kind global talent present with them and thus can have a better solution to any
problem arising.
 Another thing to know when operating in the global market is that international
experience is needed when you want to be present in the top tier and become successful.
 A good thing with the geocentric approach is that the managers with high potential are
always ready to be transferred to any given part of the world. The managers always
aware about the global traditions and thus it saves the company the time used for their
training.

Key reasons for the MNC for taking this particular approach
Companies always look for new opportunities to add consumers to and revenue streams, when
all the growth strategies are used up on the national level then the only way is going global.
Distributing your services around the globe adds up to your consumer base, builds loyalty in
international markets and this all ultimately increases the brand value of the company.

 Competing for new sales- The race to expand internationally is often about gaining a
presence in foreign markets. Being the first to arrive in a new market can provide
significant advantages.
 Diversifying the business- The international expansion allows a company to diversify
its business in a couple of key ways. You spread the risk of slowing demand across
multiple countries. If one market never gains or loses interest in your offerings, you
can pick up the slack with success in other countries.
 Recruiting new talent- Going global gives the company a chance to hire talent form
across the globe and as explained above this gives the company a chance to get to
know about each and every culture present around and use their values for good.

Thrust areas identified by the MNC with regard to the approach

 Business threats- One of the major disadvantages of being geocentric is that you have
to find such managers and employees that have a global attitude and thinking and are
having no problem in adapting multiple styles.
 Another thing is that is that you lose the opportunity of having experts in the culture
and traditions of one country. This often creates a hinderance in the working style of
the company in any particular region. Example- Many companies have to alter their
working style in order to capture Indian market.
 There is always a risk of diluting the culture of the office present when the company
hires employees form all around the globe.

Strategies formulated by the MNC with respect to this approach

There are various strategies formed by Expedia as they are having an eye on the travel and
tourism market all over the world.

 Advertising on social media and television screens is one of the best ways to tell
consumers about your product or service as attention is the new currency.
  Providing consumers with an experience that is designed by adopting their lifestyle and
mental behaviour. This builds up customer loyalty as they get personalised experience.
 Brand differentiation is the key to attract consumer towards yourself. As when you
stand out from the crowd the consumers think you have something extra for them and
when you tend to meet their expectations they stick to your brand.
 Another thing is that their website is having a user interface that is easy to use by any
person in the world.

Your viewpoint on the practicality and necessity of this approach to today’s

MNCs

Being a firm that is having a geocentric approach in the travel and tourism sector is practically
correct and also necessary in today’s competitive world. If you need to survive in the market
then you should have consumers all over the globe. Your employees should know about each
and every region they are working in. Given that the entire world is drawing closer together,
geocentric approaches make it easier for your business to be competitive wherever you end up.
So, your company need to be ready for playing the game on each and every ground.

Do you think this approach is still lively or outdated in the context of

International Business?

I believe this approach is still there in many global organisations and helps them to capture the
global market at an ease. The employees of the company understand their consumers and work
on giving them a personalised experience. This approach is also the reason why many of the
global organisations are growing so fast and are able to manage themselves efficiently.
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https://brainly.in/question/1972772

https://www.oyorooms.com/about?oyocorporate=

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