Glocal Strategies:
In 1972, advisor Rene Dubos (Dubos) used the phrase, "Think Globally, Act Locally," at the UN conference on the Human Environment. This phrase signified that the environmental problems faced globally could be transformed into action only if the ecological, economic, and cultural differences of the local surroundings were considered. Dubos proposed that ecological consciousness should first start at home.
The phrase became very popular and later converged into a single term ‘glocal' formed out of the two words, global and local. In the 1980s and 1990s, several business organizations adopted ‘glocal' strategies to manufacture their products and/or services to gain some competitive advantage over the other competitors in the market. Organizations used it mostly as a branding and advertising strategy for marketing their products and/or services.
Earlier, it was an effective strategy to design and manufacture products from one place as it brought economies of scale. This led to centralized operations in most of the business organizations which benefited not only the manufacturers but also the suppliers. However, with customers now being spread out globally and having specific local needs, it has become vital to focus on designing products based on those needs. By using IT, organizations are able to design products globally to meet the requirements of local customers and have achieved success and growth in the market. For instance, Toyota transfers its techniques and expertise developed in Japan to its operations located in other countries. All the processes right from development to production are in turn applied locally, based on the conditions in those countries.
IT plays a vital role in facilitating global business. It creates a major impact on the strategy, corporate culture, workplace, services, revenues, and savings of the organization. Equipped with a good IT infrastructure, companies can easily and effectively coordinate and control their operations from anywhere in the world. Proper IT management helps any organization to achieve a competitive advantage over other players in global markets.
Some of the advantages that organizations derive by using IT in carrying out global operations are: increased coordination and control of operations; reduction in the constraints of time and distance; the ability to share scarce resources and expertise; coordination in the movement of goods and/or services from one place to another; sharing of human expertise and such other resources; development of services that would differentiate the company from its competitors; etc. These aspects help the organizations to respond in a timely manner to the requirements in the local markets as well as leverage upon the size and scope of the market. The growing importance of IT in various fields of business has led to the emergence of IT-enabled services, popularly known as ITES or ITeS.
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