MNC SCENARIO: Mr. Adam Smith works as a senior executive for Corebiz Corp., a multinational company with subsidiaries in many Asian countries. The firm believes in a marketing strategy that strongly resonates the essence of the local culture in its implementation. The company relocates Mr. Smith to Beijing to handle their operations in China. A few months into his stay, Mr. Smith begins to learn the ways of life and appropriate behavior in China. When Mr. Smith was invited for tea by his colleagues, he observed people around him and learned the right way to tap his finger and fold a napkin. He also learned that the Chinese revere their elders and treat them with respect. Even when there is no kinship involved, an older person should never be addressed with his/her name. Any show of disrespect, especially “name calling,” is shunned upon by society; and the person found doing so, risks being ridiculed by everyone. Though these learnings can sometimes be inconvenient for Mr. Smith owing to the vast cultural difference between the United States and China, Mr. Smith thinks that it is worth all the trouble.
-Refer to MNC Scenario.Even though Corebiz Corp.is a multinational company,it believes in a marketing strategy that strongly resonates the essence of the local culture in its implementation.This is an example of _____.

Question

Quizplus · Accepted Answer

The company's marketing strategy that strongly resonates the essence of the local culture in its implementation is an example of glocalization, a term used to describe the blending of global and local elements in business operations.