Social capital in multinational companies is part and parcel of individuals learning resource management, whether locally or internationally. The conditions globalization, localization and glocalization are expressions released to current economic climate only recently. It is obviously that globalization and localization send (in fund) to financial ideas including multinational businesses, sale and buy and other services. Because the end of the Freezing War, we've been facing economic have difficulties rather than the military the one that prevailed for most ages. But glocalization is an exceptional term, since it is coined of two words (globalization and localization).
In this paper I plan to examine the progression of glocalization and present some practical good examples from my environment (Norway) to learn how this term works. Some sociologists, anthropologists and economist classify capital into three main types. Pierre Bourdieu distinguishes between three capitals: monetary capital, social capital and interpersonal capital. In this particular paper I will try to illustrate the composition of the bank industry with a concentrate on Western European countries and the Nordic countries. Furthermore, I will describe how my own organization (Nordea Loan company ASA) should relate with the global progression toward a more global banking industry.
Let me focus on the idea of globalization in economy first and then check out glocalization. Theodore Levitt article, "Globalization of market segments" in the Harvard Business Review in 1983 launched a heated dialogue of outcomes of globalization, which revolved around global governance, freedom and local market conditions. Globalization in this context is thought as an activity where bankers are larger and fewer and where they operate generally across countries and regions, i. e. that people call global oligopoly. The globalization of the banking industry is still in its infancy, but some features look already to be central to the development of the industry in the returning years. In Norway, globalization calls for new difficulties and opportunities for Norwegian banking companies both in Norway and in another country. The Europe Fee has set a goal to reduce the countless trade barriers that stand in the form of a competent financial market in European countries.
It is challenging to set borders between globalization and glocalization in overall economy or in cultural applications. Glocalization is defined by (Wellman B. 2001) as the following "Glocalization" is a neologism indicating the blend of strong local and intensive global connection" Du +1-et dette offentlig. Angre
Glocalization is a proposed solution to some problems of globalization. Critics believe that globalization causes turmoil between an appearing worldwide system of beliefs and regional autonomy, leading to the destruction of local ethnicities. Glocalization proposes to mediate between this global system and neighborhood and this local routines be reputed. It often includes tailoring products designed for international distribution to the preferences of local consumers.
To illustrate the tactical implications and options, I will use the model "The nine proper windows" (Solberg 1997).
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This strategy is a powerful model that enables us to point which strategies the players should choose in the future market. The analysis will therefore give attention to the conditions that should be present for such a job that each standard bank should use effectively. Both dimensions of the matrix are the industry's globality and the lenders' capability for internationalization. In the study, I'll use the model with nine glass windows indicating nine specific proper options. Over the last 30 years, we have seen that some Norwegian banks wanting to internationalize their functions by building branches abroad. Banks range from "Stay home market", to "Strengthen position in the global market segments" or"find new owners with the international network". Thus different finance institutions are located not only at different points over the y-axis, but also over the x-axis (the industry globality). If one is situated left of the matrix, this implies little globality. You will see fewer opportunities and risks of globalization, which should then established the orientation of the strategies that bankers should choose depending how they are positioned along the y-axis.
I have already placed some Norwegian banking institutions in this picture. Globalization of the bank industry had impacts on Norwegian banking companies and Norwegian banking industry. That is due to the fact that before banks acquired different products and services in diverse marketplaces and were affected differently by the structural and international barriers. The strategies will be on the one hand more affected by consolidation in established marketplaces; on the other side, globalization could signify major threats but many opportunities. Other tactical alternatives will be more effective, depending on the location over the y-axis. Studies of multi-national companies (MNS) use of European bankers (Berger & Smith 2003; Berger, Dai, Ongen & Smith 2003) show that the banking industry still has some way to go before it can be called global. Issues with this model is its construction. It really is simple to understand, there a wide range of ways to establish the two dimensions and problem localization may lead to drastically wrong conclusions in tactical choices in an specific company.
As a practical example, Nordea Bank, which is the most significant lender in the Nordic and Baltic region with headquarters in Stockholm bank, is the result of successive Nordic acquisitions and mergers in the time 1997 to 2000. Through its around 10 million customers - of which 4. 9 will be the online customers - and 1, 300 branches is the marketplace head in the Nordic region with 35, 20, 20 and 15% market show to Finland, Denmark, Sweden and Norway. Our eye-sight is to be the main Nordic bank. Development strategy has been mergers and acquisitions, but the strategy is further organic progress in the Nordic and "near abroad emerging markets" (Annual Statement 2006). In Norway, the goal is to increase market talk about in the retail market. Nordea is well equipped to meet the issues that globalization includes. Furthermore, our analysis would be that the Baltic / Poland - for tactical reasons - should be developed in order to restrain the actions of other banking institutions, especially German and Austrian, but also other international banking institutions. The possible circumstance is that Poland can be an thrilling "emerging market" is an market where major Western European banks contending for market share. We realize that this may be difficult in Russia. Nordea has a major talk about in Ogresbank but does not control the lender 100%. In this respect, Russia should be an important concern for Nordea.
http://www. investopedia. com/terms/g/glocalization. asp#ixzz2NYBBvRnm
Finally, I've proved to examine the communal culture, cultural capital and glocalization in Nordea and other businesses. Some other cases, I intend to cite are McDonald's Company and MTV Networks activities. McDonald's Firm has restaurants in more than 100 countries. Rather than offering an American-style menu in a location like Dubai and other Islamic countries, where people do not eat pig meats, McDonald sells generally poultry, lamb and beef. Big-ticket
items in the automotive industry are types of glocalization. Mercedes-Benz or BMW car manufacturers present many different engine unit offerings and lean levels because of their home market. But the cars offered overseas are usually limited by more powerful motors and higher-end interiors. Likewise, MTV Systems, which broadcasts in many countries, will not offer the same programming in every those countries. The network tailors each channel to match those countries' individual likes and features regional and international music artists. With satellite TV, audiences may also glocalize their living rooms. Numerous foreign-language programs can be bought, so an immigrant from Italy can capture her favorite variety shows on RAI International, or an Egyptian expat can catch regional reports from back home on Al Jazeera channel.
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