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International Marketing: Global Corporation vs. Company
EPRG Framework
The Ethnocentric, Polycentric, Regiocentric, and Geocentric (EPRG) framework allows defining organizations based on their scale and scope. Specifically, ethnocentric companies shape their customer segmentation strategies based on culture-specific characteristics thereof, whereas regiocentric and geocentric ones focus primarily on geographic location. The regiocentric approach also serves as the link between the polycentric and geocentric frameworks since it allows embracing the characteristics of a particular region as a group of countries (Robbins and Judge 11).
Global Corporation
A global corporation needs to be capable of addressing the issues that emerge in the context of a particular culture when promoting products and services to diverse audiences (Bartlett 4; Kashani and Quelch 38). A global corporation can be defined as a firm that operates in the global market and caters to the needs of the citizens of at least two states (Robbins and Judge 200). Although a global company shares certain characteristics with a geocentric organization, it is not entirely the same. Specifically, a geocentric company strives to view all stakeholders involved as global citizens, whereas a global company embraces the diversity of its members and customers (Robbins and Judge 53).
Global Company: Characteristics
For a company to become global, a profound understanding of the concept of diversity and the ability to establish a cross-cultural dialogue are required. A global organization has to embrace the idea of multiculturalism and be ready to address possible cross-cultural conflicts (Wiechmann 3). Furthermore, it is necessary to ensure the presence of a consistent data management framework that will make supply chain management easier (Robbins and Judge 35). As a result, the threat of a misconception that will ultimately lead to customer dissatisfaction will be reduced to zero (Arnold 133).
Works Cited
Arnold, Donald. Seven Rules of International Distribution. Harvard Business Review, 2000 (November-December), pp. 131-137.
Bartlett, Christopher A. Kentucky Fried Chicken (Japan) Limited. Harvard Business Review, 1992, pp. 1-19.
Kashani, Kamran, and John A. Quelch. Can Sales Promotion Go Global? Business Horizons, vol. 33, no. 3, 1990, pp. 37-43.
Robbins, Stephen P., and Timothy A. Judge. Organizational Behavior. 16th ed., Pearson Higher Education AU, 2014. VitalSource Bookshelf E-book, Web.
Wiechmann, Ulrich E. Minolta Camera Co., Ltd. Harvard Business Review, 1981, pp. 1-10.
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