Glocalisation - Think Global Act Local

Essay on Glocalisation -
Think Global Act Local

Table of Contents
Essay on Glocalisation – Think Global Act Local...........................................................................1
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Essay on Glocalisation – Think Global Act Local
The term “glocalisation” owes its existence to the concept of globalisation. This concept
was coined in the late 80s by the well renowned economist Theodore Levitt in his published
article named Globalization of Markets during the year 1983. Globalisation has continued to
place impact over each and every country belonging to the world’s economy since last 2.5
decades. The famous theorist named Kenichi Ohmae who is acknowledged to have given the
definition and prediction of globalisation across the economy of the world. He was the one who
was responsible for making the term applicable in professional or corporate context (Ye and et.
al., 2020). As a result of this, almost each and every company operating as a part of the global
economy applies this concept into their business activities and practices so as to derive positive
results. It is then concept that resulted in making corporations surface worldwide with the
passage of time, with a large number of businesses also attempting to apply the same successful
corporate strategy and business model that they applied in domestic markets in the global
context. In this relation, it has been acknowledged that companies over the course of time began
realising that success can be attained by them in the global context in the long run only when the
local as well as contextual dissimilarities are integrated in association with competition, cultural
aspects, market related concepts, preferences and many more. The direct consequence of all of
this integration was seen in terms of emergence of the term “glocalisation”.
Glocalisation can be summarised as the process of thinking in global context while
simultaneously acting in the local context. This term originally owe its origin to the combination
of 2 words that are namely localisation and globalisation (Tijssen, van de Klippe and Yegros,
2019). In this relation, it can be said that the meaning emerging out of this term is identified to be
equilibrium existing between the global as well as the local components with respect to the
products and services offered by the corporation together with execution of business with regards
to global as well as local aspects. The concept of glocalisation originated within the business
practices of Japanese companies and this term was comprehensibly acknowledged to be
modelled upon a Japanese term named "dochakuka" that refers to global localisation. In the
initial phase, this concept implies adaptation of techniques of farming in accordance with one’s
local conditions. During the late of 1980s period, the term “glocalisation” got converted in to a
marketing strategy owing to its adoption by the Japanese Economists within Harvard Business
Review.
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