localization

Examples of localization in the following topics:

• Culture-Specific Nuances of Human Resources Management

  • The localization of HRM strategies and materials allows multinationals to achieve synergy across various geographic and cultural contexts.
  • These differences cannot be ignored, and companies who do not alter their corporate culture to adhere to their local climate will inadvertently falter.
  • The alternative is adpating, and thus adaptability is the central component to successful localization as the HR department begins to expand into new markets,
  • Recruitment for international projects requires HR to make a decision between hiring an expatriate from the home country of corporate HQ or hiring locally.
  • As a result, recruiting through local mediums and the construction of a local HRM team is critical.

• The Challenge of Globalization

  • Managers should also be aware of the best way to approach global demographics from a business to consumer perspective, taking an international product or service and localizing it successfully.
  • This chart illustrates the process of moving from an international product to a localized product step by step, making note of the element of production that can be universally applied compared to those that need a localized touch.
  • As a result, managers should carefully consider how to best localize products to retain cultural identity in the regions they operate.
  • This chart illustrates the complementary localizing and internationalizing responsibilities of a globalizing organization.
  • The organization must place an international focus on product design, development, and QA to ensure its broad relevance while also localizing marketing to tailor its appeal to individual markets.

• The Importance of Organizational Diversity

  • In the modern global market, diversity is essential to generating innovative ideas, understanding local markets, and acquiring talent.
  • With the emerging markets across the globe demonstrating substantial GDP and market growth, organizations need local talent to enter the marketplace and communicate effectively.

• Considerations when Managing a Global Corporation

  • Geographic and demographic expansions underline the critical importance of managers to understanding the illusive concept of localization, which in short defines the way in which a company's product or service should be adapted to fill the specific needs of a particular culture, demography, or geographic region.
  • Researching the failure of companies, such as Best Buy and Home Depot in China, and bench-marking this against the success of Pizza Hut or BMW, provides substantial insights as to the importance of localization to global managers.
  • What localization truly highlights is the need to hold a highly developed sensitivity to cultural issues, norms, and values.
  • Researching the failure of companies, such as Best Buy and Home Depot in China, and bench-marking this against the success of Pizza Hut or BMW, provides substantial insights as to the importance of localization to global managers.

• Differences Between Strategic Planning at Small Versus Large Firms

  • How does management create a strategy that doesn't confine these geographic regions (and lose localization) yet still maintains each region's alignment with the mission, vision, and branding of McDonald's?
  • Ideally, McDonald's can construct careful strategic models and systems which control the critical components of the operations without hindering the localization.
  • From a strategic point of view, this involves creating a system of quality control, reporting, and localization that maintains the competitive advantage of scale economies and strong branding.

• Global Strategy

  • A global strategy may be appropriate in industries where firms face strong pressures to reduce costs but weak pressures to respond locally; globalization therefore allows these firms to sell a standardized product worldwide.
  • Differentiation as part of a global strategy will often require localization, as organizations must adapt to consumer tastes better to compete in the new country.
  • For example, Coca Cola tastes different depending on the country where it is bought because of differences in local preferences.

• External Stakeholders

  • For instance, a local government may reward tax incentives to a business that makes a commitment to hire local workers.

• Types of Social Responsibility: Philanthropy

  • For example, the local branch of a bank might donate money to fund the purchase of uniforms for a school sports team, or a health care company might donate to the city opera.
  • For instance, many large arts organizations receive funding from corporations in completely different industries simply because their executives happen to love music and wish to support a local symphony.

• The Role of Teams in Organizations

  • -made products in multiple countries needs to understand the local markets, laws, and regulations of each country.

• Arguments for and against Corporate Social Responsibility

  • CSR refers to the practice of companies integrating ethical, social, environmental, and other global issues into their business operations and in their interaction with their stakeholders (employees, customers, shareholders, investors, local communities, government).