International Business Approaches and Strategies

The video tutorial discusses various forms of international business, including import/export, licensing, franchising, strategic partnerships, joint ventures, and foreign direct investment. It also covers four approaches to international business: ethnocentric, polycentric, region-centric, and geocentric. Each approach is explained in terms of product design, strategy, and operations, with examples provided for better understanding.

Which of the following is NOT a form of international business?

• Import and Export

• Licensing

• Domestic Retail

• Franchising

Which of the following is an example of a strategic partnership?

• McDonald's franchising

• A logistics partnership

• Vodafone-Idea joint venture

• Walmart's investment in Flipkart

What is a characteristic of the ethnocentric approach?

• Regional market treatment

• Domestic-focused operations

• Country-specific strategies

• Global product design

How does the ethnocentric approach view product design?

• Focused on the home country

• Tailored to each country

• Based on regional preferences

• As a global standard

In a polycentric approach, how does a company operate in multiple countries?

• With a single global strategy

• With strategies tailored to each country

• By merging regions into one market

• By focusing on domestic operations

What is the main focus of the polycentric approach?

• Domestic market dominance

• Country-specific adaptation

• Global uniformity

• Regional integration

Which approach involves treating certain geographical areas as a single market?

• Ethnocentric

• Polycentric

• Region-Centric

• Geocentric

Which approach might treat Europe as a single market?

• Ethnocentric

• Region-Centric

• Geocentric

• Polycentric

What is a key feature of the geocentric approach?

• Global perspective in operations

• Country-specific product design

• Focus on domestic market

• Regional market strategies

In the geocentric approach, how are products designed?

• For specific regions

• With a global perspective

• For each individual country

• For the domestic market