Geocentric attitude

Definition (1):

Geocentric attitude, a world-oriented view that focuses on using the best approaches and people from around the globe. Managers with this type of attitude have a global view and look for the best approaches and people, regardless of origin.

 For instance, the CEO of a fast-growing manufacturer of household accessories is a Chinese immigrant who describes the company’s strategy as “combining Chinese cost with Japanese quality, European design, and American marketing.

Definition (2):

“A geocentric attitude requires eliminating parochial attitudes and developing an understanding of cross-cultural differences.”

Definition (3):

A geocentric attitude refers to an attitude taken by a business where its operations are based on an informed knowledge of the requirements or needs of the home country as well as the host country.

The geocentric approach is the most open-minded attitude. This approach views the whole world as one large market place with several different companies having a world headquarters that doesn’t represent a single country or culture. The approach promotes diversity through capital resources’ global integration. It studies every foreign market and the prices of the product or services are changed based on the foreign market’s local climate.