Glocalisation
Topic: Globalisation and MNCs · NCERT: Beyond NCERT
Meaning
Glocalisation means adapting a global product or business plan to local tastes, cultures and rules. The word joins "global" and "local". A company keeps its worldwide brand but changes the product so it sells well in each country. This helps MNCs win buyers in markets whose customs differ from those in their home country.
Example
McDonald's in India does not sell beef or pork. Instead it sells local items such as the McAloo Tikki burger, while keeping its global brand and way of working.
Don't confuse with
- Globalisation: the integration of countries through trade and investment. Glocalisation is one way a firm adjusts its products inside that globalised world.
Related concepts
- Multinational corporation
- Joint production
- Technology transfer
- Acquisition of local companies
- Outsourcing to small producers