Business
The term is also used in business strategy, where multinational corporations are encouraged to build local roots. This is sometimes expressed by converging the words "global" and "local" into the single word "glocal," a term used by several companies (notably Sony Corporation and other major Japanese multinationals) in their advertising and branding strategies in the 1980s and 1990s.
Currently more and more corporations are finding it extremely important to analyze the environmental damage of their company. The pressure they receive from government officials and local communities regarding environmental issues is vital to their companies image. Glocalization is an emerging concept throughout the business world. It was first developed by the Japanese, however, it has now emerged throughout Western society. Glocalization refers to the practice of conducting business according to both local and global considerations
Read more about this topic: Frank Feather
Famous quotes containing the word business:
“I have said many times, and it is literally true, that there is absolutely nothing that could keep me in business, if my job were simply business to me. The human problems which I deal with every day—concerning employees as well as customers—are the problems that fascinate me, that seem important to me.”
—Hortense Odlum (1892–?)
“The elements of success in this business do not differ from the elements of success in any other. Competition is keen and bitter. Advertising is as large an element as in any other business, and since the usual avenues of successful exploitation are closed to the profession, the adage that the best advertisement is a pleased customer is doubly true for this business.”
—Madeleine [Blair], U.S. prostitute and “madam.” Madeleine, ch. 5 (1919)
“Dishonesty in government is the business of every citizen.... It is not enough to do your own job. There’s no particular virtue in that. Democracy isn’t a gift. It’s a responsibility.”
—Dalton Trumbo (1905–1976)