Managing a global multinational company would obviously be much simpler if it required only one set of corporate objective, goals, policies, practices, products and services. But local difference-cultural habits, beliefs and principles specific to each country or market-often make this impossible. The conflict between globalization and localization has led to the invention of the wนrd ‘glocalization’. Companies that want to be successful in foreign markets have to be aware of the local cultural characteristics that affect the way business is done.