Lp2.1 Assignment: Managing Across Cultures

Managing Across Cultures Name Institutional affiliation Managing Across Cultures Haier Case Institutions are often created with an initial strategy to suit the market they serve. However, the global market is influenced by cultural, social and economic factors. Therefore, as a company goes global, there is need drop the standardized approaches for flexible approaches to fit into the new market. Haier, a Chinese home and commercial appliance company is among the few companies that have successfully managed to enter the global market, with their ability to meet the demands of their customers in different regions. An analysis of Haiers market indicates that there is a National responsiveness for its products, with a major difference existing between the developed and the developing markets. For this reason, Haier prefers a local approach to entering its target markets. Haier adapts its products to different regions in the world by through glocalization. This refers to the approach of going global, but thinking the way a local company would operate in that market. Glocalization entails market research into the cultural values of the local market, and adopting strategies to meet these values rather than a one size fit all approach. The company first entered the European