Meaning of GLOCAL in English

adjective (Business World) In business jargon: simultaneously global and local; taking a global view of the market, but adjusted to local considerations. Also as a verb glocalize, to organize one's business on a global scale while taking account of local considerations and conditions; process noun glocalization. Etymology: Formed by telescoping global and local to make a blend; the idea is modelled on Japanese dochakuka (derived from dochaku 'living on one's own land'), originally the agricultural principle of adapting one's farming techniques to local conditions, but also adopted in Japanese business for global localization, a global outlook adapted to local conditions. History and Usage: The idea of going for the world market (global marketing) was a feature of business thinking in the early eighties. By the late eighties and early nineties Western companies had observed the success of Japanese firms in doing this while at the same time exploiting the local conditions as well; this came to be called global localization (or, at first, dochakuka), soon abbreviated to glocalization. It proved to be one of the main marketing buzzwords of the beginning of the nineties. 'Glocalize,' as the Japanese call it. Fortune 28 Aug. 1989, p. 76 We've witnessed what you might have heard called 'glocalization': making a global product fit the local market. To do that effectively, you've got to have individuals who understand what makes that particular market tick. Advertising Age 8 Jan. 1990, p. 16

English colloquial dictionary, new words.      Английский разговорный словарь - новые слова.