Table of Contents

Think-Global, Act-Local Strategy2

Introduction2

Discussion2

Identification2

Think Global Act Local3

Cultural, Demographics & Societal Attributes4

Business Strategy5

Acting Personal5

Reason for Think Global Act Local6

Think Global Act Local - Strategy as Success7

Think Global Act Local - Success Stories7

Conclusion8

Think-Global, Act-Local Strategy

Introduction

It wouldn't be wrong to say that in today's business environment, it is very important to build strategies for maintaining a well-built influence on the business. As the competition is increasing dramatically, making it difficult for both the small and big players to survive in the business arena, organizations are spending enormous resources on building great strategies. The effects of such cause is helping organizations to have a complete focus on robustly communicating internally and externally, through developing strategies, which could not only enhance their business but also earn them great ranking in terms of profits, customer satisfaction and loyalty. Organizations moving in the foreign market are opting for new strategies, which could benefit them in understanding the dynamics of the foreign market. Such strategies are developed with the help of professionals, utilizing resources to manage an understanding and concept of providing costumers according to the need of that global market. In such cases, it is best to pick the strategy of thinking globally and acting locally.

Discussion

Identification

The theme of thinking global and act local generated as a concept for organization to consider means of entering in new markets for profit and growth orientation. The concept urged organization to understand the new markets before and after entering in them which would help them in providing the individual and groups with offering according to their need. Think Global and Act Local became a perfect solution for many organizations to enter new markets and also helped existing organization to switch and mould there activities when operating in the foreign markets for better and improved fulfillment of their visions.

Think Global Act Local

Think global act local, changes the concept of globalization, as globalization is about standardizing concepts to a center point and offering an interlinked activities to all parts of the globe. However, think global and act local identifies special needs of the new local market, defining specialized production and efficiency for the particular locations that has been entered, satisfying the customer needs.

The concept of think global and act local later, developed as a strategy for organizations when entering the global market. The marketing concept of this strategy had such a strong attribute that organizations styled it to their benefits making it success story for them.

The strategy is all about initiating a movement from local market to the foreign market by understanding the attributes of that new market and developing further strategies according to it. The business and consumer markets are widely different all around the world because every market requires a different kind of attention and it is important to understand the philosophy of global corporate affairs when taking measure of starting business internationally. Moreover, it is important to calculate the measures of cultural attributes and local practices that are followed in the particular location.

Cultural, Demographics & Societal Attributes

The strategy depends on ...