Finding the Right Synergy Between Going Global and Staying Local

Finding the Right Synergy Between Going Global and Staying Local

With the advent of globalisation, businesses have opened themselves up to new areas of growth but often to the detriment of their local business environments. Conversely local businesses may be reluctant to ride the globalisation wave due to change which comes too much and too fast. Global for some is synonymous with efficiency but with that comes more standardisation.
 With the advent of globalisation, businesses have opened themselves up to new areas of growth but often to the detriment of their local business environments. Conversely local businesses may be reluctant to ride the globalisation wave due to change which comes too much and too fast. Global for some is synonymous with efficiency but with that comes more standardisation.

Meanwhile local business environments are seen as more agile and flexible but sometimes struggle to achieve global scale. It’s a tricky balancing act.

Working closely with a whole host of internationally savvy small and medium sized enterprises (SMEs), FedEx understands that global brands can absolutely adopt a local approach, and vice versa. It’s time for businesses to rediscover local environments and understand how this can be the catalyst for further expansion.

Understand your industry to understand the balance

Industrial context as well as a firm’s overall strategic direction is central to understanding what the balance between local and global should be. If we take the automotive market as an example, we can see that it is a force to be reckoned with, accounting for more than £71.6 billion turnover and with 160 countries importing UK vehicles. A company which has made clear inroads into this market has been Ubisense – a world-leader in Enterprise Location Intelligence solutions. Not only have they improved decision making but they have also automated processes for many companies working in the automotive sector. Estimates from Ubisense have recently pointed to how around 4% of the world’s passenger vehicles are now built with an Ubisense solution. Continue reading

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