Localization strategy for MNEs is best for environments where there are clear differences between the home and foreign markets and there is a low pressure for cost reduction.
Multinational enterprises (MNEs) are large firms whose assets or employees are located in more than one country. They are powerful economic entities, with studies estimating that 30% of the global GDP is owned by the largest 500 MNEs.
Localization strategy refers to the process of adapting a good or service to local conditions or demands. It is a common business strategy of MNEs as the preferences of customers in different regions and countries may widely differ. Thus, McDonalds may incorporate local cuisines into the menu of its local chains located in different countries.
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