An ethnocentric attitude is the parochialistic belief that the best work approaches and practices are those of the home country (the country in which the company’s main offices are located).
Managers with an ethnocentric attitude believe that people in foreign countries don’t have the needed skills, expertise, knowledge, or experience to make the best business decisions, as people in the home, country do. They don’t trust foreign employees with key decisions or technology.
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- Single-use plan
A single-use plan is a one-time plan specifically designed to meet the needs of a unique situation. For instance, when Wal-Mart decided to expand the number of its stores in Chine, top-level executives formulated a single-use plan as a guide.
Telecommuting is a job approach in which employees work at home and are linked to the workplace by computer and modem.
- Primary activities
The activities in a firm of those involved in the physical creation of the product, marketing and transfer to the buyer, and after sale support.
- Mass customization
Mass customization is providing customers with a product when, where and how they want it. Mass customization requires flexible
Redesigning an organizational structure with the intent of emphasizing and enabling activities most critical to a firm’s strategy to function at maximum effectiveness .
- Powerful Suppliers
Suppliers can exert bargaining power on participants in an industry by raising prices or reducing the quality of purchased goods and services. Powerful suppliers, thereby, can squeeze profitability out of an industry unable to recover cost increase in its own prices.
Low market share and low market growth business are the dogs in the firm's portfolio.