Question

With the help of online research, write a short report on “glocalization.” 1-2 paragraphs

Answer 1

“Glocalization” refers to a company with a global footprint that manages to adapt to the tastes and preferences of local consumers.When global organizations adapt to the preferences of local markets, they have a better chance to widen their consumer base. The prevailing political, economic, and social interdependencies have made the world around us a global marketplace. However, analysis performed at the individual level points out that consumers still prefer local over global in matters related to culture, language, beliefs, and even food.Bearing local preferences in mind, global companies try to adapt their offerings to what they think local consumers will appreciate and consider valuable. For example, leading fast-food chain KFC serves Peking Duck for lunch and porridge for breakfast in Shanghai. Similarly, Starbucks serves green tea in Beijing. These brands are well known and globally popular. Going glocal is their strategy for competing with existing local brands in the countries into which they venture. Glocalization is not just an attempt at “fitting in,” but rather a calculated response to today’s competitive scenario.Glocalization is not just limited to adapting goods and services—having a glocal team is part of a glocalization strategy as well. Working with employees of different nationalities offers its own challenges, however. Competencies that blend personal and interpersonal capabilities with leadership qualities in a global context help to drive organizational effectiveness.Successful glocal leaders creatively combine intelligence and emotional quotients to develop an appropriate cultural quotient that helps them be effective in managing their glocal strategy.

Step-by-step explanation:

Answer 2

Step-by-step explanation:

When we combine the two terms of globalization and localization, we come up with the phenomenon of GLOCALIZATION which can be best defined as Thinking Globally, Acting Locally. Defining it more precisely, we can say that when one brand is made, distributed ans sold all around the world but it is tailored and customized according to the taste and preference of consumer in the different markets of the worlds accordingly.

It is done because people of each part of the world have different culture, language preferences, needs and wants. Companies can place and position their products effectively by tailoring their products and offers according to the need of that particular market, consequently, companies can make great profits and customer loyalty in return.

Examples:

Following are all Global brands but they sell products according to the needs of their consumers in different parts of the world.

Lays Chips (They sell different flavors in different parts of the world, according to the taste preference and eating habits of that country)

Maggi Noodles (They sell tikka flavor in most of the Asian countries which is not available in other parts of the world)

Pizza Hut (Pizza hut sell different pizza flavors in different part of the world according to the preferred tastes of that country)