Relationship of Regionalism and Globalism Essay

Relationship of Regionalism and Globalism - Essay Example This research will begin with the statement that there is a growing debate whether firms should use globalism or regionalism as their chosen approach. Globalism of a business indicates their international integration through the interchange of products, worldviews, cultural aspects, and ideas.   International marketing principle influence companies to have a consistent global strategy when they are operating internationally but they also need to adopt different tactical approaches to successfully operate in their targeted local market. On the other hand regionalization of a business explains the process of dividing the large market into small regional segments and formulating the product and ideas as per the difference in regional demand and cultural aspects. A very well known approach by multinational companies for their global strategy is to think globally and act locally. This view has been adopted by a large number of Multinational organizations and it has been proven as a succ essful theory. Various researchers have proven that a debate over the usage of adaptation and standardization in any organization commenced in the year of 1961. After half a century the debate is still on. Various arguments have shown that regionalism of any organization can be better than the globalism strategies. Globalism promotes communication across the borders and helps an organisation to successfully satisfy the requirement of consumers and market. This process involves changes in political and economic spheres of any organization. It also helps in bringing the world together. Researchers argue that the basis of the globalization of any organization is to compare the market operation in the home market with the operations in the foreign market. They also have mentioned that global standardization helps organizations to operate at a low production cost. It also helps them to treat the entire world as a single market and sell the similar product in the same way everywhere. Seve ral factors help an organization in the selection of their globalism strategies and tactics.