Ethnocentricity can have a negative impact on a firm's ability to trade in global markets.

Question

Quizplus · Accepted Answer

Ethnocentricity refers to the tendency to view one's own culture or nationality as superior to others. This can lead to a lack of respect for other cultures and an inability to understand and adapt to local markets, which can ultimately harm a firm's ability to trade in global markets. Therefore, ethnocentricity can have a negative impact on a firm's global business success.

Ethnocentricity Can Have a Negative Impact on a Firm's Ability