An approach of managing international operations in which nationality is down-played and the firm actively searches on world-wide or regional basis for the best people to fill key positions, is known as:

(A) Geocentric approach

(B) Ethnocentric approach

(C) Polycentric approach

Choose the most appropriate answer from the options below

The correct answer is (A) only

Key Points 

 1. International Business engages in global business dealings involving goods, services, technology, etc.

2. International Business also known as Global Business.

3.International Business is mainly dominated by developed countries yet it gives benefits to all participating countries.

Important Points 

1.There are different approaches of International business, namely: 

                                Ethnocentric Approach

                                Polycentric Approach

                                Geocentric Approach

2. Ethnocentric Approach:

a)The Ethnocentric Approach is one of the techniques used in international hiring, and it relies on a candidate's ability to blend in with the company's culture as well as their knowledge of the skills needed for the position.

b)According to the this approach, employees from the parent nation hold the important roles in the company.

3. Polycentric Approach: A polycentric strategy involves hiring local staff for operations in the host nation through worldwide recruitment.

4. Geocentric Approach: It refers to an approach of managing international operations in which nationality is down-played and the firm actively searches on world-wide or regional basis for the best people to fill key positions.

For Example: Consider the scenario where a company has a worker in Japan with unique skills that are needed in the UK. In that instance, the company can swiftly transfer this person to the United Kingdom.

Hence, the correct answer is (A) only.