Kraft International describes the company's strategy as "to win locally and leverage globally." A Dow Chemical executive explained his company's approach,"You simply cannot develop or initiate a market penetration strategy,in an emerging country from a location thousands of miles away in which no one has seen and still be successful…period.You need to think and act globally but implement locally." Kraft and Dow are using the ________ approach.
A)glocal
B)millennial
C)transformational
D)black hole
E)best practices

Question

Quizplus · Accepted Answer

The approach being used by Kraft and Dow is the glocal approach, which refers to thinking and acting globally while implementing locally. This approach involves adapting products, services, and strategies to meet the unique needs of local markets while maintaining a global brand and identity.

Kraft International Describes the Company's Strategy as "To Win Locally