The term 'glocalization', which first started appearing among academic circles during the late 1980s, combines the words 'globalization' and 'localization'.

The idea is to overcome the current ideological gridlock facing advocates and critics of globalization by having local officials mitigate the effects of global pressures on local conditions.

Advocates of glocalization also want to promote an alternative way of dealing with international aid and peace negotiations.

Honda has gone through several phases in its international business operations and refers to its current directions as glocalization. This refers to global operations which are increasingly self-reliant and able to source locally or from other regions, depending on the mostefficient and effective arrangement.

AA: What do you think of the trend toward "global marketing"?

Paul Walsh: 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. Someone sitting in Minneapolis and exporting product to France isn't necessarily going to have that level of expertise. The local knowledge component is essential.