A new article by Ibrahim Sirkeci, Director of Regent's Centre for Transnational Studies, appears in The World Financial Review. Sirkeci argues that there is a paradigm shift in business and marketing management and claims that globalisation is over as we move into the era of transnational marketing and connected consumers.
"As the speed of communication and transportation increases, local consumers and organisations are ever more connected but not identical despite the blurring national boundaries. Companies face a tough challenge to achieve efficiencies while customising to the extreme to satisfy “glocal” consumers in this new era of transnational marketing.
The top 100 Transnational Corporations list by the United Nations is periodically updated since 1970s. Nevertheless the list is not exhaustive. There are many more small or large companies around the world showing similar characteristics and as the day passes their numbers are growing. The formula to measure the transnationality of a firm is a simple average of the three percentages: sales abroad within total sales, staff abroad among all staff, assets abroad. Countries of origin of these companies are increasingly ever more diversified, while the number of state-backed companies are on the rise as transnationals. These are not “global” brands but transnational as they recognise and address the local and national differences and distinct needs and wants. Among them are giants such as Nokia, Nestle, Vodafone, and Unilever. In my new book, Transnational Marketing and Transnational Consumers, I argue that the globalisation is over."
CITE AS: Sirkeci, Ibrahim (2014). Globalisation is Over: The era of transnational marketing and connected consumers”, The World Financial Review, (January-February), pp.18-20. Available at http://www.worldfinancialreview.com/?p=3981