Cross‐cultural Management: An Economic Issue Too!

US firms have long since recognized the economic necessity of expanding their market overseas; however instead of adopting cross‐cultural management strategies used by their European and Asian counterparts, US firms proceed with an ethnocentric or geocentric viewpoint. Provides an outline of EuroDisney as an ethnocentric example and lists cultural mistakes; supplies McDonald's Moscow experience as a famous geocentric example and outlines cultural challenges. Illustrates several connected realities which managers should acknowledge and expresses the view that cross‐cultural management affairs cannot be explained by economic methods.