For me it’s really interesting, the concept of “glocal” is a combination of the words “global” and “local”, and we in Gloc.al International Digital Business Glocalisator Team team chose the motto is “Glocal is thinking globally and acting locally with local identity” as our strategy. It is used to describe the simultaneous existence of both global and local elements in a system or process. In business, the term is often used to describe the balancing of global and local priorities in management and decision-making.
As I understand the rise of the internet and digital technologies has created new opportunities for businesses to reach global markets. At the same time, it has also made it easier for local businesses to compete in global markets. This has led to a need for businesses to adopt a more glocal approach to management and decision-making.
Yes, for my gloc.al team the advantages of a glocal approach include:
- Increased flexibility and agility: the glocal approach enables businesses to be more flexible and agile in response to local market conditions and needs.
- Improved customer service: By balancing global and local priorities, businesses can improve their customer service levels and better meet the needs of their customers.
- Enhanced competitiveness: the glocal approach can help businesses to enhance their competitiveness in both local and global markets.
- Increased efficiency: By aligning global and local processes and systems, businesses can improve their overall efficiency and productivity.
- Better risk management: the glocal approach can help businesses to better manage risks associated with operating in global markets.
But, for our gloc.al teammates wise versa the disadvantages of a glocal approach include
- increased complexity: A glocal approach can add complexity to businesses, making them more difficult to manage.
- clash of cultures: A glocal approach can sometimes lead to a clash of cultures between global and local employees.
- tension between global and local priorities: There can be tension between global and local priorities in a glocal business, which can make it difficult to make decisions.
- Difficulty in implementation: A glocal approach can be difficult to implement, due to the need to coordinate and manage both global and local elements.