Introduction to Glocalization

Article by CHARLES DEMICHER (SM)

Introductory article on Glocalization; An evolving path to a balance of both local and global business development is one aspect of Glocalization.

Dave Thomas, the billionaire and owner of the renowned chain restaurant’s “Wendy’s” is quoted to have said: “Share your success and help others succeed. Give everyone a chance to have a piece of the pie. If the pie’s not big enough, make a bigger pie.” This statement from an experienced and successful business man such as Dave Thomas is worthy of noting. It should serve as a basis of paradigm shift for startups and thriving businesses alike. Donald Trump, the real estate billionaire also lend credence to this philosophy when he said “As long as you’re going to be thinking anyway, think big”.

The concept of sharing knowledge in business terms is a function of mutually beneficial collaboration in the sharing of knowledge and expertise in business. This could be applied in the discovery of new business opportunity or avenues of improving on an existing business for increased output, efficiency or profitability; this symbiotic business relationship can also be applied in global business. The injection of new knowledge in an existing business process for the purpose of increased productivity is pertinent in the quest for mutually beneficial business growth.

The incorporation of the concept of Glocalization in business planning and operations demands that businesses share knowledge and experience that they have derived in the course of doing business in their immediate locally and otherwise. Luckily, the retinue of online collaborative tools that are freely accessible on the internet coupled with advanced multimedia telecommunication platform makes such collaboration easily achievable. It is quite easy to gather customer data from demography to geo-location and precise address using marketing and captive portals that deliver real-time product and services while capturing relevant user data. These systems are a vivid representation of business methodologies and platforms that evolve as a result of bi-lateral exchange of information from any part of the globe.

Businesses that are open to change from the conventional way of doing business i.e “what you see is what you buy” are prone to embrace the new concept of glocalization. These businesses are pacesetters in development of new streams of business revenue because of their readiness to change paradigm. This dynamism results in opening of new frontiers for business and other positive outcomes such as reduced cost of running business, increased revenue though sales and new revenue channels embraced into the existing business model. Moreover, the scope of business can by increased through other avenues such as the restructuring of existing business modus operandi which results in organic growth by embracing methodologies far superior to the traditional business models.

Article by CHARLES DEMICHER (SM)