|Term or phrase||Multilocal|
|Notes|| This term applies to the organizational need to address both transnational and domestic challenges that boost productivity and profitability without sacrificing local customs, traditions, and related activity. First coined by Giancarlo Ghislanzoni, Risto Penttinen, and David Turnbull in "The Multilocal Challenge", appearing in the March 2008 McKinsey Quarterly.
Quoting: We call these kinds of companies multilocals, to reflect their international and domestic character. Such organizations have strong roots in national or regional companies but often expand abroad because they have the resources to pursue mergers and acquisitions but only limited growth potential at home. They hope to take advantage of the opportunities provided by changing regulation and converging consumer tastes. Today, they are especially active in Europe, though we have also encountered them in South America and parts of Asia.
|Keywords||organization, design, cross-border|
|Resource description||Ghislanzoni, Giancarlo, Risto Penttinen, and David Turnbull, "The Multilocal Challenge: Managing Cross-Border Functions," McKinsey Quarterly, March 2008|
|Resource description||For more on balancing transnational and local concerns, see also Dani Rodrik, The Globalization Paradox: Democracy and the Future of the World Economy (New York: W.W. Norton & Company, 2001).|