Tuesday, January 13, 2015

In Business, One Size Does NOT Fit All

Organisms that are genetically similar may exhibit different patterns of behavior when they live in different habitats. A specific species of bird may lay a certain number of eggs at particular dates in one habitat while lay a different number of eggs on other dates if it lives in another different habitat. The optimum number of eggs and date of nesting in one habitat for that species is different from the optimum number of eggs and date of nesting of the same species if it lives in a different habitat.

Similarly, a specific business type should not try to force its practices in the same way regardless of the market it is targeting. A multinational should always pay great attention to local variations and be sensitive to cultural differences within its target markets. By adjusting its practices according to the nature of the target community, a multinational can become successful at a wide range of different geographical regions.