Globalization…thinking global whilst acting local!
Great morning, Champs. I trust that you have had a profitable week so far….and yes Thank God it is Friday. By the way…….a big shout out to Liz Taylor, Executive Director of EVA WRIGHT on hosting the maiden edition of ENTREPRENEURS BASECAMP….it was themed “STARTING STRONG” ….such an impactful business seminar it was. All businesses need to start strong!!! Liz Taylor is a CHAMPION!
Today, I want to start a 3 part series on GLOCALIZATION…thinking Global whilst acting local! This is for all my business owners, business managers out there…….Ready????????
So what exactly is Glocalization and how does this concept affect our small businesses?
Like always lets look at definitions……Glocalization is a combination of two words namely: Globalization and Localization…an adaptation of international products or services with strong particularities of the local culture or market in which they are sold…
Let’s look at the text book definition of both terms……….
Globalization is a process of interaction and integration among the people, companies, and governments of different nations, a process driven by international trade and investment and aided by information technology. This process has effects on the environment, on culture, on political systems, on economic development and prosperity, and on human physical well-being in societies around the world.
Localization is the process of adapting a product or content to a specific locale or market.
According to Wikipedia, the Glocalization term first appeared in a late 1980s publication of the Harvard business review. It was made popular by a sociologist Roland Robertson, who said “glocalization primarily encompasses how regional tendencies intersect with the proliferation of global cooperations.”
In my words its offering a global product with local appeal or even better offering a local product with global appeal!…..and that’s what I want to focus on today!!!
“Buy Naija, grow Naira”……Quite a statement…Now, let’s take a minute to look at that statement. In this world of ours, that is now a global village, we need to understand that our services and products do not only compete with goods and products in our locality or immediate environment but really compete with other similar products or services on a global scale. This means that our businesses need to get as competitive as competitive can get!! So generally speaking if we are going to buy made in Nigerian products or services, we really want to do so because they are the best available options we have….as good as or even better than other products from foreign markets…… the Standard Organization of Nigeria (SON) needs to say something about this… hmmmmm….a local flavor with global appeal!!
I really think it’s important that entrepreneur and service providers need, now more than ever, to grasp and internalize this concept and let it apply in their business thoughts, processes and outcomes. The essential question is the how???
Here in my opinion are a few prerequisites to attaining my view of GLOCALIZATION
Sound business systems and processes
Vibrant customer service
….and We would spend the next few weeks looking at these critical prerequisites for your local business to play globally…GLOCALIZATION
Looking forward to sharing the next part of this series….
Keep walking the Pathway of Champions