History Of Localization And Glocalization Marketing Essay

History Of mess And G mess Marketing EssaySocial capital in multinational companies is mathematical function and parcel of human resource management, whether locally or internationally. The hurt globalization, fixture and glocalization atomic number 18 expressions introduced to thrift only recently. It is needless to say that globalization and localization refer (in finance) to economic concepts including multinational corporations, sale and purchase and another(prenominal) services. Since the barricade of the Cold War, we have been facing economic struggle instead of the war machine one that prevailed for many decades. But glocalization is an exceptional term, since it is coined of devil words (globalization and localization).In this paper I define to examine the evolution of glocalization and bow or so practical examples from my environment (Norway) to find out how this term works. Some sociologists, anthropologists and economist classify capital into triple main t ypes. Pierre Bourdieu distinguishes between three capitals economic capital, cultural capital and societal capital. In this paper I go forth try to pull out the structure of the banking diligence with a nidus on westbound europium and the Nordic countries. Furtherto a greater extent, I will describe how my own organization (Nordea Bank ASA) should relate to the global evolution toward a to a greater extent global banking industry.Let me start with the notion of globalization in economy first and then proceed to glocalization. Theodore Levitt article, Globalization of markets in the Harvard blood Review in 1983 introduced a heated discussion of consequences of globalization, which revolved virtually global governance, independence and local market conditions. Globalization in this mise en scene is defined as a process where banks are larger and fewer and where they operate largely across countries and regions, i.e. that we call global oligopoly. The globalization of the ban king industry is still in its infancy, provided around features appear already to be central to the development of this industry in the coming years. In Norway, globalization will involve new challenges and opportunities for Norwegian banks both in Norway and overseas. The Europe Commission has set a goal to reduce the many affair barriers that stand in the way of an efficient financial market in Europe.It is not easy to set borders between globalization and glocalization in economy or in social applications. Glocalization is defined by (Wellman B. 2001) as the spare-time activity Glocalization is a neologism meaning the combination of intense local and elongated global interaction Du +1-et dette offentlig. AngreGlocalization is a proposed solution to some chores of globalization. Critics believe globalization ca engages conflict between an emerging worldwide organization of values and regional autonomy, resulting in the destruction of local cultures. Glocalization proposes t o mediate between this global system and local community and that local practices be respected. It often involves tailoring products think for international distribution to the tastes of local consumers.To illustrate the strategical implications and choices, I will character the model The nine strategic windows (Solberg 1997).CUsersIhabDesktopniggaUten navn.bmpThis approach is a dynamic model that enables us to indicate which strategies the players should choose in the future tense market. The analysis will therefore focus on the conditions that should be present for such a role that each bank should use effectively. The two dimensions of this matrix are the industrys globality and the banks ability for internationalization. In the study, I will use the model with nine windows indicating nine specific strategic options. Over the belong 30 years, we have seen that some Norwegian banks seeking to internationalize their trading operations by establishing branches abroad. Banks ra nge from Stay home market, to Strengthen position in the global markets orfind new owners with the international network . Thus assorted banks are located not only at different points along the y-axis, but also along the x-axis (the industry globality). If one is located to the left of the matrix, it indicates small-scale globality. There will be fewer opportunities and threats of globalization, which should then set the predilection of the strategies that banks should choose depending on how they are positioned along the y-axis.I have already placed some Norwegian banks in this picture. Globalization of the banking industry had impacts on Norwegian banks and Norwegian banking industry. This is due to the fact that in the past banks had different products and services in diverse markets and were affected differently by the geomorphologic and international barriers. The strategies will be on the one hand more affected by consolidation in established markets on the other hand, globa lization could represent major threats but many opportunities. Other strategic alternatives will be more effective, depending on the location along the y-axis. Studies of multi-national companies (MNS) use of European banks (Berger Smith 2003 Berger, Dai, Ongen Smith 2003) show that the banking industry still has some way to go before it can be called global. A problem with this model is in its construction. It is simple to understand, there are many ways to define the two dimensions and fault localization could lead to completely harm conclusions in strategic choices in an psyche company.As a practical example, Nordea Bank, which is the largest bank in the Nordic and Baltic region with headquarters in Stockholm bank, is the result of successive Nordic acquisitions and mergers in the period 1997 to 2000. through with(predicate) its around 10 million customers of which 4.9 are the online customers and 1,300 branches is the market leader in the Nordic region with 35, 20, 20 an d 15% market piece of land to Finland, Denmark, Sweden and Norway. Our reverie is to be the leading Nordic bank. Growth outline has been mergers and acquisitions, but the strategy is further organic growth in the Nordic and near abroad emerging markets (Annual Report 2006). In Norway, the goal is to increase market share in the retail market. Nordea is well equipped to meet the challenges that globalization entails. Furthermore, our estimation is that the Baltic / Poland for strategic reasons should be developed in order to restrict the activities of other banks, especially German and Austrian, but also other exotic banks. The possible scenario is that Poland is an exciting emerging market is an arena where major Western European banks competing for market share. We realize that this may be difficult in Russia. Nordea has a major share in Ogresbank but does not reign the bank blow%. In this respect, Russia should be an important priority for Nordea.http//www.investopedia.c om/terms/g/glocalization.aspixzz2NYBBvRnmFinally, I have proved to review the social culture, social capital and glocalization in Nordea and other firms. Some other examples, I intend to cite are McDonalds Corporation and MTV Networks activities. McDonalds Corporation has restaurants in more than 100 countries. Instead of offering an American-style menu in a place alike(p) Dubai and other Islamic countries, where people do not eat boar meat, McDonald sells mostly chicken, lamb and beef. Big-ticketitems in the automotive industry are examples of glocalization. Mercedes-Benz or BMW car manufacturers present many different engine offerings and rationalise levels for their home market. But the cars offered abroad are usually limited to more powerful engines and higher-end interiors. Likewise, MTV Networks, which broadcasts in many countries, does not offer the same computer programing in all those countries. The network tailors each channel to suit those countries individual tastes and features regional and international musicians. With satellite TV, audiences can even glocalize their living rooms. legion(predicate) foreign-language channels can be ordered, so an immigrant from Italy can catch her darling variety shows on RAI International, or an Egyptian expat can catch regional news from back home on Al Jazeera channel.