Editing Glocalization (section)

==Business==
While the term "glocalization" is one that developed later in the 20th century, the idea behind it is closely related to the economic and [[marketing]] term known as [[micromarketing]] – by definition, the "tailoring and advertising of goods and services on a global or near-global basis to increasingly differentiated local and particular markets."<ref>{{cite book |last1=Featherstone |first1=Mike |title=Global Modernities |last2=Lash |first2=Scott |last3=Robertson |first3=Roland |date=1995 |publisher=Sage Publications |isbn=0-8039-7948-7 |location=London, England, United Kingdom |page=28 |access-date=}}</ref>

===Tourism===
Glocalization can be recognized, perhaps most profoundly, in [[tourism]] operations throughout the world – particularly in reference to countries in which tour guides and locals are up to date on global [[pop culture]] and [[technology]], but still present their communities, heritage, history and culture as distinctively "local."<ref name="Tourism and Glocalization: Local To">{{cite journal |last1=Salazr |first1=Noel |date=2005 |title=Tourism and Glocalization: Local Tourguiding |journal=Annals of Tourism Research |volume=32 |issue=3 |pages=628–646 |doi=10.1016/j.annals.2004.10.012 |pmid=32572282 |pmc=7148810 |access-date=|doi-access=free }}</ref> A notable example is referenced by Professor Noel Salazar of the [[University of Pennsylvania]], whose study dove into these distinctive glocalization attributes on the island of [[Java]] in [[Indonesia]].<ref name="Tourism and Glocalization: Local To"/>

===Challenges===
Glocalization works best for companies which have decentralized authority.<ref name=":0">{{Cite journal|last=Hofstede|first=Geert|date=1994-03-01|title=The business of international business is culture|journal=International Business Review|volume=3|issue=1|pages=1–14|doi=10.1016/0969-5931(94)90011-6}}</ref> The cost to the companies increases as they cannot standardise products and projects, different cultures have different needs and wants which is highlighted in this challenge. An example of a company succeeding in creating new products for their emerging market is [[McDonald's]] new rice meals in [[India]] and [[China]].<ref name=":1">{{Cite journal|last=Shi|first=Xiuhua|date=2013-06-01|title=The Glocalization of English A Chinese Case Study|journal=[[Journal of Developing Societies]]|volume=29|issue=2|pages=89–122|doi=10.1177/0169796X13480442|s2cid=147498024|issn=0169-796X}}</ref> This shows that McDonald's has done research on and understands their new market's requirements for a successful takeaway food. This however can be very costly and time-consuming.<ref name=":1" /> One of the main challenges for the future of glocalization is to govern it.  [[Anja Mihr|Glocal governance]]<ref>{{Cite book |url=https://link.springer.com/book/10.1007/978-3-031-02108-4 |title=Glocal Governance |series=SpringerBriefs in Political Science |year=2022 |language=en |doi=10.1007/978-3-031-02108-4|isbn=978-3-031-02107-7 |last1=Mihr |first1=Anja |publisher=Springer |location=Cham }}</ref> is the interlinkage between global, national and local formal and informal actors that aim to find common ground, take decisions, implement and enforce them.

[[File:Starbucks at the Forbidden City.jpg|thumb|Starbucks in Forbidden City, China]]

An example of a global business that has faced challenges due to localization of their products can be presented through the closing of a [[Starbucks]] in the [[Forbidden City]] of China in 2007. Starbucks' attempt to localize into the culture of China by accommodating their menu to local elements such as serving [[green tea]] [[frappuccino]]s and enlarging their stores was prevalent in most areas of China, but when Starbucks spread to the Forbidden City, a problem surrounding cultural identity arose. Factors surrounding "western influences" related to Starbucks were seen as a threat by a web-based campaign which was successful in initiating the closing of the Starbucks in the Forbidden City. The leader of this campaign, Rui, stated, "All I want is that Starbucks move out of the Forbidden City peacefully and quietly, and we'll continue enjoying Starbucks coffee elsewhere in the city."<ref>Han, Gang (Kevin); Zhang, Ai (2009-11-01). [http://www.sciencedirect.com/science/article/pii/S0363811109001271 "Starbucks is forbidden in the Forbidden City: Blog, circuit of culture and informal public relations campaign in China"]. ''Public Relations Review''. Includes a Special Section: Public Relations in a Time of Economic Crisis. '''35''' (4): 395–401. [[Digital object identifier|doi]]:[[doi:10.1016/j.pubrev.2009.07.004|10.1016/j.pubrev.2009.07.004]].</ref>

Although there are many challenges to globalisation, when done right it has many benefits; allowing companies to reach a larger target market is just one of them. Society also benefits when globalisation occurs as an increase in market competition generally pushes the price of products down which means the consumers benefit by gaining a lower price point.<ref>{{Cite journal|last=Osland|first=Joyce S.|date=2003-06-01|title=Broadening the Debate The Pros and Cons of Globalization|journal=Journal of Management Inquiry|volume=12|issue=2|pages=137–154|doi=10.1177/1056492603012002005|s2cid=14617240|issn=1056-4926}}</ref> This decreases the inequality gap as people who couldn't previously afford products when the market was controlled by local monopolies are able to purchase the product more cheaply.

Although globalisation has benefits for the consumer, it does not always benefit the producer, with newer and smaller companies struggling to keep up with the low production costs of the multi-national competitors. This results in either a higher price and loss of consumers, or a lower [[profit margin]], which in turn results in less competition within the market.<ref name="BrooksNormore" />