Glocalization is the name adopted from the combination of the words ‘global’ and ‘local’. The tem first appeared in the late years of 80s. This concept allows the integration of local markets into world markets. The ways of selling the products are adapted in accordance to the local cultures in which they are sold. There is intermingling of universal and particular tendencies in terms of businesses.
The biggest example for Glocalization is McDonald’s restaurants. They design their menus in the way as per the interest and suitability of local tastes. Glocalization involves the media for encouragement of the foreign products with local audience. It provides good and media having dictating by the foreign entities.
- The organizations and households follow social networks combining the local and global interactions.
- There are rights and responsibilities on world class scale and the declarations are based on locality and culture of a place.
Concept of Glocalization
Glocalization involves marketing of services and products to local markets. There is a node of social relations and interactions depending on social relations and world encirclement. Glocalization is global localization. The socialists all over the world have encouraged this concept for encouragement of global ideas into local world. for further details, visit : http://www.ncbi.nlm.nih.gov/pubmed/25464951
Challenges to Glocalization
You need to understand the local environment in depth as every culture has different history, customs and people. Glocalization involves new market and the concepts along with the traditional and new global ideas. The target market can succeed, if there is whole study made for the target market. It is indeed interesting to include global concepts in local market to get that extra tinge to succeed. click here for more information.
- Traditional societies have values for culture and heritage. They have multiple management levels to get approvals or decisions. There are pre-existing concepts and it makes harder for management to include alterations in an effective manner in multiple management levels. This system exists in Arab countries and Japan.
- Rational societies have individual leveled values inspired by the past history, but they run in accordance to the present items. The perfect example is Germany having individual performance focus in the primary level, which gives a greeting gesture to the global ideas and companies.
- Materialistic societies are mainly characterized by ex-communist countries. It is new and got created with enhanced economic opportunities and consisted of the markets with business for breaking it into newest ideas and no existent channels.
- Post modern society is the last category mainly in the countries in west Europe and New Zealand. These countries have blend of everything and are most flexible to global companies, new products and ideas.
There are many countries in the process of switching societies. There is continuous evolvement for switching societies and turning towards a better scope according to local market. There are emerging opportunities in every sphere and countries are adopting it for the purpose of gaining superiority over the other countries.
Glocalization works in the best way for decentralized sector. There are different countries with reinforced culture with harder modes to adapt the new markets in comparison to the previous modes.