Glocalisation and Sustainable Business Solutions

Abstract

This chapter presents glocalisation as a new global phenomenon in providing sustainable business solutions and preserving durability of the business environment in the tourism and hospitality industry. The chapter reveals that the ‘one strategy fits all' (universalism) deficiency of globalization brought glocalisation into the limelight as the best alternative strategic approach in sustaining global business relevance and promoting environmental sustainability in the 21st century business era. The strategic mix of globalization and localisation inherent in glocalisation promotes unprecedented economic growth and the development of developing and emerging economies through promotion of their cultural heritage and historical values. The chapter further discloses that prevalent of global warming giving rise to climate change in the tourism and hospitality industry which can be significantly controlled through strategic implementation of a glocal strategy. It is concluded that glocalisation serves a dual-purpose of providing sustainable business solutions and preserving the business environment.