What are the business ethical and social responsibilities of MNC or MNE?

MNCs also respond to host country’s needs and expectations for business ethics and social responsibility. It may develop core values and philosophy of its global social responsibility and provide flexibility for customizing its detailed activities to suit each country’s unique needs.

Which are ethical issues in the operations of MNCs?

Multinational managers need to be sensitive to these varying differences and able to choose an ethical action accordingly. In an international business, the most important ethical issues involve employment practices, human rights, environmental norms, corruption, and the moral obligation of international corporations.

How do multinational corporations demonstrate social responsibility in a foreign country?

Giving Back. Many companies engage in philanthropic activities, and some multinational companies elect to take on the responsibility of spreading their social initiatives to host countries where they do business. Positive public relations are just as important in a host country as they are in a home country.

What are the ethical issues faced by international businesses?

Some of the most common ethical issues in international business include outsourcing, working standards and conditions, workplace diversity and equal opportunity, child labor, trust and integrity, supervisory oversight, human rights, religion, the political arena, the environment, bribery and corruption.

What are the risks of entering a new market?

The risks of market entry

Management and organization. How well is your company structured?
Human error. Human error is one of those risks that we can’t really control.
Logistical issues.
Tech issues.
Cash flow problems.
Regulations.
Politics.
Cultural differences.

What are the elements of a good market entry plan?

Developing a market-entry strategy involves thorough analysis of potential competitors and possible customers. Relevant factors that must be considered when deciding the viability of entry into a particular market include trade barriers, localized knowledge, price localization, competition, and export subsidies.

What are the three main factors that determine market attractiveness?

Factors that affect market attractiveness

Market size.
Market growth.
Pricing trends.
Intensity of the competition.
Overall risk in the industry.
Opportunity to differentiate products and services.

How do you identify an attractive customer?

Determining Your Ideal Customer

Define your product or service from the customer’s point of view.
Define the ideal customer for what you sell.
Determine the specific benefits your customer is seeking in buying your product.
Determine the location of your exact customer.
Determine exactly when your ideal customer buys your product or service.

How do you identify customer problems?

One of the simplest and most effective ways to identify problems with your customer service is by asking your customers. You can do this by giving customers the option to fill out a brief survey or rate their experience. To keep participation high, try keeping the survey short by asking no more than five questions.

How do you read customers mind?

Six tips to improve your listening skills:

Ask questions. Then try to be quiet and let customers get their entire points across before you say anything.
Pay attention.
Seek out hidden needs.
If your prospect gets angry, don’t counter-attack.
Look at your prospect.
Use feedback.

What are the five basic needs of customers?

The basic needs of customers

Friendliness.
Empathy.
Fairness.
Control.
Alternatives.
Information.
Time.

How do you identify customer needs and expectations?

To identify the needs of your customers, solicit feedback from your customers at every step of your process. You can identify customer needs in a number of ways, for example, by conducting focus groups, listening to your customers or social media, or doing keyword research.

What are the customer wants?

6 Things Every Customer Wants

Preparation. Customers want you to do your homework before talking with them.
Simplicity. Customers, like everyone else, must cope with the complexities of business.
Creativity. Customers already have ideas on how to solve their problems and create their opportunities.
Loyalty.
Accessibility.
Accountability.

What are the methods ways to use to identify customer needs?

There are several methods for identifying customer needs out there, but here are some of the most effective.

Look through your records. You probably have some information in your records already.
Talk to your staff.
Map the customer’s journey.
Interview your customers.
Survey your customers.

What are the 2 types of customer needs?

Ultimately, all customer needs can be categorized into three main types: functional, social, and emotional needs.

Functional Needs. Functional needs are the most tangible and obvious of the three main types of customer needs.
Social Needs.
Emotional Needs.

What are the three methods of determining customer needs?

Terms in this set (3)

observing. look at the customer and their mood and facial expressions.
listening. listening to what the customer has to say, analyzing their words.
questioning. asking the customer questions to better understand them.

What are three ways to determine customer needs and wants quizlet?

List three methods for determining needs. observing, listening, and questioning. What types of questions should be asked to determine customer needs?

Is the process of matching customer needs and wants to the features and benefits of a product or service?

Download ppt “THE SELLING PROCESS. Process of matching customer needs and wants with to the features and benefits of a product or service Selling.”

Can you meet the needs of the customer and solve a specific problem?

Answer: Yes, everyone can be able to meet the needs of their customers and solve a specific problem.