There are mainly three approaches to international management includes: ethnocentric, polycentric, and geocentric. Each one approach has its own advantages and disadvantages. It is worth noting that none of these theories can be successful; however, unless the managers can understand the distinctions involved in these applications appropriately and completely.

Ethnocentric- The ethnocentric approach is one where the management within an organization uses the similar style and practices that are used in their home country or at headquarters. These approaches might leave the managers open to devastating mistakes because a strategy that can work in United States, for example, might not necessarily work in the regions of Japan. Apart from this, there are numerous cases where the organizations made previous errors while attempting to transfer their management style to the international regions. For instance: Procter and Gamble company almost lost $25 million in Japan between 1973 and 1986 since its managers did not listen to the Japanese advisers. In addition to this, the organization even run advertisements for its products which were not effective as it was not catered according to the needs and preferences or the cultures of Japan. The company implemented a similar advertisement that word appropriately in the regions of United States and other countries and thought that it would be successful in the regions of Japan which did not.

Polycentric- The poly centric approach includes managing office staff in the international region with as many local people as possible. This theory is simple which states that the local people understand their host countries culture, work ethic and language better. Therefore, they are regarded as the ideal candidate for management. This approach works well in numerous regions. Although, the regions without well- developed economies, it might not be the best approach because the workers might not always have the necessary business acumen or skills required for the organization.

Geocentric- The geocentric approach holds the fact that the best individuals, regardless country origin, should be placed in management positions. This philosophy maintains the my assignment help business problems as these are the same regardless of where in the world. Therefore, the competent managers must be able to apply logic in common sense in order to resolve them to succeed. It is also significant for them to understand about a specific cultural knowledge as it is the most difficult of the three approaches to apply as the managers must be able to understand both the domestic and international perspectives of the business.

It is significant for the managers involved in international business to recognize the opportunities that available in different regions across the world. In addition to this, they must also be precise enough to recognize the potential as well as immediate opportunities. For instance: there are three types of regions with which there can be potential business opportunities. These include, developed, less developed and newly industrialized. Once the managers have assessed a group that the country belongs to, they must analyze the country’s infrastructure to. It helps the managers to understand opportunities related to the organization and therefore he leads to a successful international management strategy.

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