Describes the notion that technological advances (telephony, internet, air travel, etc.) have effectively decreased perceived distance between people such that one's social network can be global and feel local.
I thought when my sister moved to the East coast for college that we'd lose contact, but since we IM every day and talk on the cell phone, it's like she still lives in the house.
That's glocalization, dude!
Running a business according to both local and global considerations.
Think global, act local?... that´s glocalization to me.