Glocalization is the blending of global and local sectors to get the best benefits for any business. It focuses on bringing the best ideas from the globe to local sector, so as to get all the benefits under one go. The local communities play an important role in sustaining global tasks and following the policies, which could really bring the best for business. The ideas of funding, marketing and infrastructure creation are the resultants from global corporation and it is the bottom up system for governance of the ideas of global implementation of ideas.
The economic glocalization model can be considered and applied to the large culture and politics based issues. This will prompt the business owners to see the wider prospects of the world. The leading groups, national government, private organizations and multinational companies are joined together to find the most rewarding ideas like by people for their businesses and related things like import and export of pets, these pets like french bulldogs are imported from France to all other location of the world.
World is a collection of people of different mentalities and cultures. There is a need to benefit from the virtue of every technology by checking out the best things in the particular area. There are some cities advancing in technology and you’ll get some places with cheap manufacturing units. So, it depends on consumer requirements and carefully handling them to gain profits from your own business. There are glocal forums established for sharing the strategies followed throughout the world and developing it by blending local cultures. for further details, click on : http://www.tandfonline.com/doi/abs/10.1080/1084877032000066297
The strategies for glocalization include:
- Encouragement and revitalization of local cultures and beliefs
- Development of local economies and interests
- Development in sports, health benefits, social and economic grounds
- Emphasizing diplomacy in local markets
- Use of IT and communication technology to encourage growth and social bonds
- To empower the youth with glocal view of the world
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. …