Key Words: Polycorp, Canada, international marketing, and rubber parts
Polycorp Limited Company is doing a good job
I believe that Polycorp Ltd is doing a good job in its expansion of international marketing. The company started off as a Canadian local company with its business then only localized in Canada. However, it has managed to go through the stages of international marketing over the years. It started by venturing into infrequent foreign marketing, and then changed into regular foreign marketing. They are currently carrying out international marketing in regions such as North America while aiming at growing globally.
Polycorp Ltd. has shown interest in globalization as an international company. Even as it is involved in multi-domestic marketing, the company is still aiming at becoming geocentric through global marketing. As much as it values the domestic operations, the company uses its polycentric marketing concepts to place much more importance on international operations for maximum profit realization (Moore, 2012). With its interest in globalization, Polycorp views each and every country as a unique entity that should be allowed to develop the marketing strategies on its own so as to adapt to the needs of the people.
Polycorp Ltd. is also successful in its international marketing because; it values the employment of talented workers with cultural adaptations for certain regions. Even as the company grows internationally, the managers understand the importance of flexibility and adaptability to regions with different cultures from Canadian culture. For example, employees working in Polycorp Ltd- North America have adapted to the culture of the people in the region; thus making the company successful. According to Krafft (2007), adaptability is a great quality for companies that need to expand internationally or globally, and Polycorp seems to have realized this early enough.
Also, Polycorp has managed to venture into high technological advancements in order too keep up with the global growth of industries. Canada has been known to possess high levels of natural resources, but it does not possess the ability to convert them to highly valued finished goods (Moore, 2012). That is the reason as to why it has developed vast interests in countries like America and Europe. Polycorp has managed to establish itself domestically and internationally through the use of new technology to process its products. For any company that wants to develop internationally, it must be ready to use new technology to make the processes more convenient, accurate, and efficient (Birnbaum, 2010). This will result in high quality products that will be acceptable worldwide, just like Polycorp’s products.
Polycorp is doing a commendable job in the international marketing considering that the company leaders have developed a global awareness and mindset in order to handle the changes as needed. Therefore, by developing a global mindset and awareness, the company ensures tolerance to different cultures by accepting people from diverse backgrounds (Lovvorn & Jiun-Shiu 2011). The company understands that people from various backgrounds and regions must have differences in their behaviors and they must be accommodated as necessary.
The managers also are knowledgeable in issues to do with cultures, history, world market potential and international/ global political, economic and social trends. Global knowledge is an essential aspect in ensuring that all company’s leaders are aware of global trends that are relevant to international and global marketing (Lovvorn & Jiun-Shiu, 2011). This is a vital leadership quality that seems to get the company moving and becoming one of the best managed companies in Canada. Leadership must be upheld in high regard in order to offer successful international ventures, and Polycorp understands this fact perfectly well. The leaders and managers in the company understand all global trends, and as such, they are able to impact positive global awareness and mindset to all employees.
In conclusion, as one of the best managed companies in Canada, Polycorp is doing a terrific job in its international marketing. It has managed to expand internationally through foreign marketing, international marketing, and through the new plans to do global marketing. It has succeeded through positive qualities such as use of new technology, global awareness and mindset, impeccable leadership and cultural adaptation.
Birnbaum, R. (2010). The Innovator's Dilemma: When New Technologies Cause Great Firms to Fail/The Innovator's Solution: Creating and Sustaining Successful Growth. Academe, 91(1), 80-84.
Krafft, M. (2007). International Direct Marketing: Principles, Best Practices, Marketing Facts. Springer Science & Business Media
Lovvorn, A. S., & Jiun-Shiu, C. (2011). Developing a Global Mindset: The Relationship between an International Assignment and Cultural Intelligence. International Journal of Business & Social Science, 2(9), 275-283.
Moore, M. (2012). Polycorp receives Canada business award. Rubber & Plastics News, 41(19), 1-22.