Glocalization

Glocalization (a portmanteau of globalization and localism) is the "simultaneous occurrence of both universalizing and particularizing tendencies in contemporary social, political, and economic systems."[1] The notion of glocalization "represents a challenge to simplistic conceptions of globalization processes as linear expansions of territorial scales. Glocalization indicates that the growing importance of continental and global levels is occurring together with the increasing salience of local and regional levels."[1]

Glocal, an adjective, by definition, is "reflecting or characterized by both local and global considerations."[2] The term “glocal management” in a sense of “think globally, act locally” is used in the business strategies of companies, in particular, by Japanese companies that are expanding overseas.[3]