What is the significance of enterprise localization?

The significance of enterprise overall localization is as follows:

It is not only conducive to the products produced by foreign enterprises to better meet the needs of local consumers, but also conducive to saving money for foreign enterprises' transnational operations and overseas repatriation. In this way, in addition to integrating into the local social culture, it also effectively avoids the conflict between the local society and foreign capital to a certain extent, and ensures the economic security, employment stimulation, management reform and accelerated international integration of the host country.

Extended data

Development of enterprise localization

1. product localization

Launching local brands of their products in China can better adapt to the demand characteristics of the local market and seize the potential business opportunities.

2. Localization of marketing methods

It will be easier to win in the competition if we put the integration of distributors and strengthen the terminal market in a particularly important position and master the sales channels.

3. Localization of human resources

Using local talents to promote production management and make the competitive advantage obvious can greatly strengthen the public's sense of identity and improve the influence and product competitiveness of enterprises.

4. Localization of research and development

Opening R&D branches to compete for domestic excellent talents and technology is more strategic than investing in a single hard goal.

In order to integrate production, marketing, management and personnel into the host country's economy, multinational companies generally conduct a series of integration and adjustment through a comprehensive investigation and understanding of the local actual economy, culture and life customs.

References:

Baidu Encyclopedia: Localization Strategy