Forces for global integration and market responsiveness of both SMEs and large firms show them moving towards similar 'glocal' strategies.

Question

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Global integration and market responsiveness are driving both SMEs (small and medium-sized enterprises) and large firms towards adopting similar "glocal" strategies, which combine global standardization with local customization to better meet the needs of diverse markets. This trend is apparent in areas such as product design, marketing, distribution, and supply chain management, as companies seek to balance economies of scale and scope with responsiveness to local preferences and conditions. As a result, the distinction between SMEs and large firms is becoming less important in terms of their international competitiveness and strategic orientation.

Forces for Global Integration and Market Responsiveness of Both SMEs